Tag Archives: home mortgage qualifications

What is an APR, and Why Is It Different From An Interest Rate?

Understanding how your loan works can possibly save you money in the long run.

Good news! As of close of business on July 1st of this year, fixed-rate mortgage interest rested at 4.14%.interestrates

In other news, even with a perfect credit score, this will still not be the interest rate you’ll end up with for your home loan.

There are a lot of factors that go into determining how high (or low) mortgage interest rates will go. The buying and selling of Mortgage-Backed Securities make up a large part of the “cost of lending money.” The simple explanation behind Mortgage-Backed Securites (MBS) is that your loan may be sold by your lender, along with a group of other loans, to a securities broker who will bundle them and sell them on the open market to investors, who make their money either from trading, or by money brought in through payments and equity. read more

Keller Williams New Mobil App – Download it now..A Must Have

DOWNLOAD OUR MOBILE APP NOW!

Search for "Keller Williams Realty"

To connect with us, please enter the agent code KW1GZNYJA at the startup of the app or via the "My Agent" button on the main menu.  Once you’ve entered our code, you can contact us directly with questions or requests regarding any property.

  

New Guidelines – Rescue help 4 Homeowner’s who are upside down on their mortgage…

Short Sales have been taking so long & many homeowners worried about how their credit would be affected.  They have been on the fence.  What is the right thing to do…Miss payments or Stay Current?

 

The federal Treasury Department’s short sale program, HAFA, has been updated again and these new changes mean more homeowners will be eligible for help.  Part of Making Home Affordable, the federal short sale program offers many benefits for borrowers who can no longer afford to keep their home.  The government is determined to help lenders, servicers and borrowers move through this process more quickly and clear out the delinquent loans asap. read more

Mortgage Rates Reach All New Historic Lows!

Home loan mortgage rates have hit a milestone as they drop to a new record low. On average, a 30 year fixed mortgage rate is currently offered at around 3.53%, with 15-year rates dropping below 3%. These rates are based on approved credit by your lender.

This means that there has never been a better time to buy a home. With rates like this, you May qualify either for a lower mortgage payment, or a higher loan amount, which allows you a greater selection of homes and price ranges to choose from. read more

First-Time Home Buyer Grants

2012/2013 First-Homebuyer Grant Program for San Fernando & Santa Clarita Valleys

The Southland Regional Association of REALTORS® is currently offering grants to qualified homebuyers who purchase their first home within the San Fernando or Santa Clarita Valley and have a low to moderate income-level. The amount of each grant will be $2,000 and will only be paid to qualified applicants after the close of escrow while funding lasts. Repayment of grant is not required.

NOTE: THERE ARE A LIMITED NUMBER OF GRANTS. GRANTS WILL ONLY BE AWARDED TO THOSE APPLICANTS WHO QUALIFY AND WILL BE DISTRIBUTED ON A FIRST-COME, FIRST-SERVE BASIS. THIS GRANT PROGRAM WILL LAST ONE YEAR BEGINNING MAY 7, 2012 OR UNTIL ALL GRANTS HAVE BEEN AWARDED, WHICHEVER COMES FIRST. BUYERS MUST BE ADVISED THAT SIMPLY SUBMITTING AN APPLICATION DOES NOT GUARANTEE AN AWARDED GRANT. read more

So Why Aren’t Condos Selling?

Well, I shouldn’t say they aren’t SELLING, they are; but they are lagging far behind single family residences in sales volume.

While single family home inventories are significantly low, condos are also still dropping in price. A great sign for buyers, but for sellers? Hmmm…

Median condo prices bottomed out in January at $184,500 and then improved in February to $194,000 but slipped again in March to $190,000 – down 19.1 percent from the year-ago price of $235,000. Condo prices haven’t improved year-to-year since April 2011. read more

Steps in Home Buying Process: Pre-Approval for Home Loan

Pre-approval is one of the most important steps in the home buying process. You should apply for a loan and receive approval from a lender before searching for a home.

Here are some reasons why being approved at the beginning of the home buying process is so important:

 1. Pre-approval for a home loan will determine your price range. Based on your down payment and that pre-approved mortgage amount, you’ll know what you can afford before you start looking. This saves you time and allows you to focus on houses that you can actually purchase. read more