Category: Mortgages

Is it Only the Purchase Price of the Home?
September 29, 2020

Question: In deciding which homes are affordable, is it only the Purchase Price of the home and the Mortgage Interest Rate?  Is it possible there are other factors which have an effect on affordability? Yes, low Mortgage Interest Rates can make mortgage payments more affordable and can enable buyers to ...
Continue Reading

NC 1st Home Advantage Mortgage
August 31, 2020

NC 1st Home Buyer Down Payment Assistance If you are a first-time home buyer or military veteran and qualify for an NC Home Advantage Mortgage, you may be eligible for $8,000 in down payment assistance with the NC 1st Home Advantage Down Payment. Similar to the other down payment assistance options available with the ...
Continue Reading

Historical Mortgage Interest Rate Charts
August 19, 2020

I have been Listing and Selling Real Estate since 1971, spanning 6 Decades now! Never once did I think a 30 Year Fixed Rate Mortgage would be under 3%. And, YES, Mortgage Interest Rates did drop below 3 %! During my Career, I did sell a home where the Buyer obtained a  ...
Continue Reading

Down Payments and Buying a Home
January 21, 2020

Do You know What Down Payment Requirements Are in Buying a Home?   62% of Buyers Are Wrong About Down Payment Needs According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans ...
Continue Reading

Mortgage Basics … Understanding Mortgage Loans

Whether looking to buy a home in Wilmington or Leland, in New Hanover or Brunswick Counties or any other area or County in North Carolina, a home buyer needs to understand mortgage loans, mortgage qualifying, mortgage payment affordability, and the mortgage application process. The reason for this is very basic: ...
Continue Reading

HUD Announces Policy Changes for FHA Mortgage Loans
March 1, 2012

February 27, 2012 HUD No. 12-037 WASHINGTON – "As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante today announced a new premium structure for FHA-insured single family mortgage ...
Continue Reading

Mortgage Interest Rate at 50 Year Low
August 20, 2011

Mortgage Interest Rates Down
On August 18, 2011, FREDDIE MAC  announced that the 30 year fixed mortgage interest rate averaged 4.15%(with 0 .7 points), down from 4.32% the previous week and breaking the previous low of 4.17% set on November 11, 2010. The 15 year fixed mortgage interest rate averaged 3.36%( with 0.6 points), as compared to 3.50% ...
Continue Reading

The Impact of Mortgage Interest Rates!
May 21, 2011

Mortgage Interest Rates
Should Buyers Pay More Attention to Mortgage Interest Rates or Timing the Home Purchase When Home Market Values Hit Bottom? The Dilemma: Buy Now or Wait? Home buyers are searching for the answer.  Many buyers are looking at homes week after week. They see home prices below price levels of last year, and much below the values ...
Continue Reading

Mortgage Interest Rates: First Quarter 2011
April 2, 2011

After increasing to over 5% in late December of 2010, mortgage interest rates ranged from 4.75% and slightly above 5% throughout the first quarter of 2011. Image courtesy of BankRate.com. Whether buying or selling a home in Iselin, New Jersey or Colonia or Edison, in Middlesex County or in  any other State, the movement ...
Continue Reading

More Mortgage Basics For Home Buyers
April 1, 2011

Know Your Limits A home buyer needs to know their financial limits. A home buyer needs to know how much of a mortgage payment they can qualify for based on their income, but more importantly, they need to also know how much they are willing to pay per month in a ...
Continue Reading

Mortgage Basics for First Time Home Buyers
March 13, 2011

Whether looking to buy a home in Iselin, New Jersey,  in Colonia, in Edison, in Middlesex County or any other State, a home buyer needs to understand mortgage loans, mortgage qualifying, mortgage payment affordabilty and the mortgage application process. The reason for this is very basic: most all buyers need ...
Continue Reading

Changes in FHA Mortgage Loans Coming April 18, 2011
February 16, 2011

FHA Loans Will Cost More After April 18, 2011 The FHA Mortgage Insurance Premium (MIP) will increase 25 Basis Points Just the other day, FHA Commissioner David H Stevens announced changes for FHA Mortgage Loans. These changes are for any FHA loans that are assigned case numbers on or after April 18, ...
Continue Reading
Next Page »