Anyone who has ever saved the cash for a down payment for a home knows it’s tough - specifically for first-time home-buyers. In 2018, the National Association of Realtors (NAR) discovered that for 13% of first-time home-buyers, said the most challenging component of the home-buying process was ... » Learn More about Cash-Strapped Consumers
Home Ownership
DACA ‘dreamers’ could have issues
The press recently reported that the Federal Housing Administration (FHA) changed its position on the eligibility of Deferred Action for Childhood Arrival (DACA) home loan borrowers, which brought the challenge to national attention. Three U.S. senators sent a letter to the Department of Housing and ... » Learn More about DACA ‘dreamers’ could have issues
11 Factors Why Your House Isn’t Selling
When you initially put your house on the market, you could be looking forward to an instant sale-especially if you have put a lot of money into enhancing the house over the years and if the community is one that's historically attracted a lot of buyers. While you shouldn't panic if the house doesn't ... » Learn More about 11 Factors Why Your House Isn’t Selling
Mortgage rates report largest drop
Purchasing a home just became a lot cheaper, thanks mostly to the Federal Reserve's decision last week to place its interest rate hikes on hold for the time being. Mortgage buyer Freddie Mac said Thursday that the average 30-year fixed rate mortgage plunged to 4.06 percent this week, below 4.28 ... » Learn More about Mortgage rates report largest drop
FHA clamps down
The Federal Housing Administration (FHA) informed lenders that it's going to start flagging more high-risk loans. Those mortgages, most of which are extended to borrowers with low credit scores and high loan payments in accordance with incomes, will undergo a more rigorous manual underwriting ... » Learn More about FHA clamps down