Archive for the ‘New Home Financing’ Category

What is More Important to the Homebuyer? Price or Interest Rate?

What is More Important to the Homebuyer? Price or Interest Rate?

Let’s say you are looking to buy a new home this year. First, that makes you smart, since 2011 may have the best combination in the history of home-buying, for affordable home pricing, wide choice of available homes and historically low interest rates. But you’re not just smart, you’re really smart. You’ve done your homework, [...]

Some Military Families Are Still Eligible for the Homebuyer Tax Credit

Some Military Families Are Still Eligible for the Homebuyer Tax Credit

Exciting news for military members who are looking to buy a new home! Members of the military and certain federal employees that served time overseas between December 2008 and May 2010 may be still be eligible for homebuyer tax credits. First time homebuyers can qualify for up to $8,000 in tax credits and repeat buyers can earn up [...]

Take Advantage of Record Low Mortgage Rates

Take Advantage of Record Low Mortgage Rates

Mortgage rates are at an all-time low making it a great time to purchase a new home. Rates on a 30-year fixed-rate mortgage hit an average of 4.3 percent in September, and a 15-year mortgage rates are even better at 3.8 percent. To provide perspective on how great these new rates are, in 2007 30-year fixed [...]

Hidden Dangers of Buying a Foreclosure

Hidden Dangers of Buying a Foreclosure

Most people who buy foreclosed homes do so because they feel like they are getting a deal. But are they really? Yes, the literal price of the home may be less than that of a new home but between the cost of repairs and uncertainty of ownership, it may end up costing a buyer more [...]

Proposed Rule Change from the FHA

Proposed Rule Change from the FHA

The Federal Housing Administration, more commonly known as the FHA, is proposing a new rule that could reshape the mortgage industry.  The rule, Strengthening Risk Management through Responsible FHA-Approved Lenders, focuses on increased net worth requirements for mortgage lenders.  In short, with this change, the lender will assume more liability on originating FHA loans. To [...]

Tax Credit Expanded to Include Current Homeowners

Tax Credit Expanded to Include Current Homeowners

There is great news for potential new homebuyers!  The very popular $8,000 first time homebuyer tax credit has been extended and expanded.  In addition to the $8,000 credit for first time homebuyers, the new legislation will allow qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the [...]