Month: April 2014

When would you refinance from a FIXED rate to an ARM?

With the first quarter of 2014 coming to a close, I wanted to take a minute and discuss a shift we have been seeing within the industry.  As we phase out of the “extremely” low rates and transition to a “low” rate environment, a few changes are starting to take place.  It is safe to say the days of a

Read More »

The 3 Most Frustrating Things About Mortgages

It’s no secret that mortgage closings can be stressful if everything isn’t running smoothly. Without a mortgage professional at your side, reviewing a big stack of papers and signing them in only an hour can be a daunting and insecure experience. Recently, the Consumer Financial Protection Bureau conducted a survey to confirm what I already know: that people are frustrated by how

Read More »

Tips for your First Mortgage

Buying a first property is exciting and sometimes mystifying. We all dream of our “perfect home” from the time we’re children. It’ll be on the beach, or in the hills, two-story or with a pool, a large yard or near a great school… we all want the best for ourselves and for our children. Yet, we may end up having

Read More »

Good News About Mortgage Availablity

There’s good news from the Wall Street Journal (“Mortgage Credit Most Available in at Least Three Years, Gauge Says,” April 9, 2014) about the ongoing affordability of mortgages. According to their datat, access to a mortgage is at its highest level in at least three years. Not only that, but in general, credit standards are expected to loosen even more than

Read More »

Low down-payments for first-time buyers

During the recent housing bubble, borrowers were often taking out mortgages with far less than a 20% down-payment. Down-payments have been as low as 6%, or even less.  The National Association of Realtors’ latest Confidence Index Survey shows that fewer  first-time buyers had mortgages with 6% or less down compared to 2009. With private mortgage insurance making a comeback in 2011,

Read More »
Sign up to get “My Two Cents.” It’s a blog where I share my thoughts on everything related to real estate finance.