Posts Categorized: Mortgages

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Using FHA 203k Loans To Rehab Your Short Sale or Foreclosure

There are a few common ways that I have seen an FHA 203k loan used.  Predominantly the clients I’ve worked with use this type of loan to purchase a property that either needs some general rehabbing throughout or to finish a job that was left incomplete for one reason or the other.  As rehab loans… Read more

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What It Takes To Get A Mortgage: Required Documentation

Buyers often wonder what bureaucratic torture they are going to be subjected to in order to obtain a mortgage. Therefore, I asked Russ Martin of Perl Mortgage to explain the required documentation for a mortgage application. In general, a conforming loan (i.e. conforms to the guidelines established by Fannie Mae and Freddie Mac) will require… Read more

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The Folly Of Timing The Housing Market

It’s hard enough to time investments. Finance theory says it’s impossible and there is plenty of evidence to prove that it can’t be done. So it should come as no surprise that timing a home purchase would be even more difficult. As I’ve said before, I don’t think people should think of a home as… Read more

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Will Rising Interest Rates Kill The Real Estate Market?

Understanding the relationship between interest rates and home prices is particularly important now because most people believe that interest rates are heading up in the not-to-distant future. One might quite logically expect that when mortgage rates rise it depresses home prices. After all, most people determine the affordability of a home by looking at the… Read more

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The Good And Bad Of Recent FHA Changes

FHA has been a popular financing option for condos because of the tightening mortgage guidelines on conventional condo financing and because of the FHA’s low down payment requirement. Currently representing 30 – 40% of the mortgages, any changes to this program can have a huge impact on the housing market. And one such big change… Read more