Questions about what the mortgage would be on a given property? Check this out!.
Category Archives: Mortgages
How much house can you afford?
Here’s a good calculator to start with in answering that question!
Interest rates and housing: very much correlated
How much do interest rates affect housing? Likely significantly. Courtesy of Empire Title, mortgage applications nationally have fallen for week over week for four weeks now and are the lowest since July 2011. Also, refinances are down 20% in the last month and purchases have fallen 6.9%.
What does that mean for you? This is just my opinion but I think this translates into more advantage to a buyer. If you want to sell your home, you may want to list soon to capitalize on what are still phenomenal mortgage rates. The same goes for buyers; the numbers above seem to me to indicate an increase in a buyer’s power, as well.
Interested in buying, selling or renting in Colorado Springs, please call Rob @ 719.440.6266!
Mortgage rates over the last 30 years…
…here’s a good reference for your review. It charts mortgage rates over the last few decades. Very interesting information!
If you’re looking to buy, sell or rent in Colorado Springs, please consider calling Rob @ 719.440.6626!
VA loan questions? Here’s a roadmap!
Here’s a nifty little roadmap for those of you interested in a VA loan.
If you’re looking to buy, sell or rent in Colorado Springs, please give Rob a call at 719.440.6626!
How much home can I afford?
A good starting point for answering this question lies in your monthly gross income. Experts vary in their statements but generally speaking, start with 28% of your gross monthly income. E.g., if you make $4000 a month, your mortgage, property taxes, homeowner’s insurance and PMI should be no more than $1120.
MoneyUnder30 has a detailed analysis including Dave Ramsey’s more conservative approach (namely he uses take home income not gross).
If you’re looking to buy, sell or rent in the Colorado Springs area, please give Rob a call at 719-440-6626!
What is a double closing?
A double closing is a set of transactions in which an investor effectively buys and sells your home in the same day (or a very short timeframe). They are, in effect, taking your equity.
Here is a lot more information on the subject. The bottom line, though, is to find a trusted agent that is not facilitating a transaction in which an investor is walking away with your equity. That’s your money.
If you are looking to buy or sell a home in the Colorado Springs area, please give me a chance. I will do right by you.
Yahoo! – How much home can you afford?
This is the basics of home affordability. Bottom line: you don’t want to have to stretch to make a payment. Go in with a number and let no one pressure into a higher value home purchase than you are comfortable with.
If you’re looking to buy or sell a home in the Colorado Springs area, I’d be honored to represent you!
Mortgage rates still very low…
Generally speaking, this is advantageous for both buyers and sellers. Low rates mean people can afford “more” home. However, a buy/sell recommendation should be based on your specific market. Be wary of anyone who makes the blanket statement, “Now is a good time to buy or sell in any market.” Ask them why…why is yours a good market?
Mortgage rates lower again. 30-year fixed avgs 3.40%, 15-year fixed avgs 2.61% (a new record low). Chart: http://bit.ly/XYr3Kc
https://twitter.com/FreddieMac/status/327422597849546752
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