Houston Real Estate Blogosphere
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Mortgage & Finance

The most recently published posts in the Mortgage & Finance category
Borrowers with minor imperfections on their credit applications — like a brief loss of employment or a temporary dip in their credit score — are starting to have better luck at snagging a loan with smaller lenders, Bloomberg reports. At least 15 smaller firms this year are offering slightly riskier mortgages, which in some cases come with higher interest rates and larger down payment req...
Read Post [Posted on 10/25/2014 By John Askins]
With still low home interest rates, the housing market is still offering “perhaps the best deals of a generation,” notes an article by Bloomberg Businessweek.  “It’s hard to see the possibility of losing on a home purchase right now, with these mortgage rates,” says economist Dean Baker. The article notes the following scenario: Buying a $289,000 home with a 4.5 percent mortgage rate and a ...
Read Post [Posted on 10/25/2014 By John Askins]
It’s still not easy to get a loan these days, say housing experts. Even home buyers with excellent credit are struggling to get approved for a loan, as home lending standards have tightened to some of their strictest level in decades.  Tightened credit is affecting home sales and hurting the housing industry’s recovery, economists note, as more borrowers face increased scrutiny in qualifyi...
Read Post [Posted on 10/25/2014 By John Askins]
A study released by Bankrate, Inc. shows that the majority of Americans think wealth is beyond their reach and that it won’t be easier to get rich any time soon.Among the findings:-70% of Americans believe that it is more difficult to get rich today than it was in the past;-More than half of those surveyed believe it will be even more difficult to get rich in America in the next ten years, while 2...
Read Post [Posted on 10/25/2014 By John Askins]
Lesson 2 How often does my credit score change? Your credit score changes as your credit report changes. This depends on when creditors report information to credit. Your credit score could change daily. Till tomorrow........
Read Post [Posted on 10/24/2014 By Angela Angell]
Lesson 1 How is my credit score calculated? 1. Payment History ( 35% of credit score) 2. Debt Level ( 30 % of credit score) 3. Age of credit ( 15 % of credit score) 4. Mix of credit ( 10% of credit score) 5. Credit Inquires ( 10% of credit score) ...
Read Post [Posted on 10/24/2014 By Angela Angell]
Your ability to buy a home with a mortgage depends on how much net income you have after all monthly debts. If your debt payments absorb your income—particularly credit card payments—you may have to put the brakes on the mortgage application.Most home buyers realize in order to purchase a home, they need at least good credit—and a better credit score means a better chance of qualifying.One of...
Read Post [Posted on 10/24/2014 By Michelle Cannon]
As interest rates have stayed low, home owners are rushing to take advantage of some of the lowest rates of the year.  "Growing concerns about weak economic growth in Europe caused a flight to quality into U.S. assets, leading to sharp drops in interest rates,” says Mike Fratantoni, the Mortgage Bankers Association's chief economist. “Mortgage rates for most loan products fell to the...
Read Post [Posted on 10/24/2014 By John Askins]
Young, first-time buyers are struggling to purchase a home. Young first-timers are finding themselves competing against other bidders who are willing to pay cash. Meanwhile, many young buyers are having trouble qualifying for a loan, often due to high student loan debt.  Overall, young buyers have been left out of the housing recovery more than any other age group, according to a USA...
Read Post [Posted on 10/24/2014 By John Askins]
More applicants could qualify for a mortgage if lenders took a broader look at an applicant’s credit data, according to a report by CEB TowerGroup, commissioned by CoreLogic. Alternative credit data or extra credit information -- like an applicant’s unsecured credit, payday lending, and property history -- are good indicators of an applicant’s true credit risk, and taking into account such addit...
Read Post [Posted on 10/24/2014 By John Askins]
Which tax benefits do home owners miss? Will you get audited if you take the home office deduction? Find out the answers to these questions and more before Tax Day.There are a lot of home ownership tax benefits — if you don’t forget to take them. To make sure you get your due, HouseLogic asked tax expert Abe Schneier, a senior technical manager with the American Institute of CPAs, f...
Read Post [Posted on 10/23/2014 By Garrett McWhorter]
Three good reasons to warm up to a refinance this spring.Low interest rates and new loan programs abound this spring, so if you assumed your refinancing and mortgage options were dismal, you’ll be surprised by these three offerings.1. Refinance with new FHA fees In a nutshell: FHA raised insurance premiums for new borrowers, while lowering fees for some existing customers ...
Read Post [Posted on 10/23/2014 By Garrett McWhorter]
We follow the issue of mistakes in credit reports pretty closely because they’re such an important part of getting a home loan. So we were intrigued to see a jury recently give one of the credit bureaus 18.6 million reasons to stop ignoring consumers who want credit report errors fixed.The jury awarded $18.6 million to Julie Miller, an Oregon woman whose rather common name led to he...
Read Post [Posted on 10/23/2014 By Garrett McWhorter]
There are many advantages to buying a condo, including: security, amenities, views, social community and included maintenance. However, there are also some potential negatives to consider before deciding to buy a condo. Some of the matters on which to focus as you consider a condo are discussed below.Ownership Interest – Instead of owning the building and the land as one would in a single fam...
Read Post [Posted on 10/23/2014 By James Brodnax]
Despite the jump in the latest median single-family home price — $220,600, up from around $160,000 just a few years ago, according to the National Association of REALTORS® — the large price gains are not denting affordability.Even with home prices climbing, home ownership remains affordable because low mortgage rates have helped to offset the price gains, writes Lawrence Yun, NAR’s chief...
Read Post [Posted on 10/23/2014 By John Askins]
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