Does it really matter who you choose to do your mortgage? Can't you just go down to any ho-hum bank and get a home loan? Or call that spammy 1-800 number (that is most likely a sex hotline) you got from a quick Google search? Yes, it matters! And it’s a big FLIPPIN’ deal! You might be thinking, “Big Box is the way to go … [Read more...] about Big Box Banks vs. Local Mortgage Banker
Sorry to interrupt your regularly scheduled PBS program in the drab, grey fields of irrational paranoia, fear and anarchy, but I have an important message for you: IT'S ALL IN YOUR HEAD. WE ARE NOT IN A HOUSING CRISIS. We are not about to be in one either! I know what you're thinking, "Oh, but Kristin, you're a REAL ESTATE … [Read more...] about Are We Headed For Another Real Estate Bubble?
For some, calling a lender to get pre-qualified for a mortgage is an anxiety-riddled, hand-wringing, whiskey-swigging dilemma. Should I or shouldn't I? It's a big deal...or is it? The fact is, it is pretty much pointless to go house-shopping without checking in with a lender first. It's like going shopping without your … [Read more...] about The Big Pre-Qualification Question
Told ya... As expected, the Federal Reserve announced that short-term interest rates would rise by 25 basis points (0.25%), the first time the interest rate has increased since 2006. For seven years, the Fed held short-term rates near zero to apply the paddles to the cardiac crisis that hit the US economy back in 2006, and … [Read more...] about Interest Rates Rise for the First Time Since 2006
Sometimes! Have you been thinking about buying a house but figure you won't live long enough to save up that huge down payment? Never fear! Hope is here! Arizona has several down payment assistance programs that provide a grant to homeowners who qualify that shaves 3% off the minimum down payment. That's a huge chunk of … [Read more...] about Can You Really Buy a House With Only $1000 in Your Pocket?
Yesterday, Justin McHood posted a great article in which he discusses the very blunt reality that "... many people are surprised to learn that a loan officer works for the bank, he does not work for you." (Check out the whole post at http://www.phoenixrealestateguy.com/your-loan-officer-is-not-your-friend/). Here is my two cents … [Read more...] about Your Loan Officer Is Not Your Friend (continued…)
Remember when you could call up a lender, tell them how much you make and how much you owe in car and credit card payments and they would tell you how much you qualify for? Well, those days are over... Today, I have the unpleasant task of cancelling a contract for one of my buyer clients because their loan fell through. This … [Read more...] about The Myth of Loan Pre-Qualification