Category: First Time Home Buyer

2014 USDA Rural Development Loan Eligibility Updates

The National USDA Office in Washington DC has confirmed that they will be using 2010 Census data to update the USDA Rural Development program eligibility maps. Current USDA maps are based on the dated 2000 Census data. This change will not take effect until October 1st, 2014 however the changes will affect many areas nationwide… Read more »

Buy a house with your Tax Refund as a Down Payment

The end of the year can be a very joyous time for many of us. It is a time when we can spend some quality time with our families, experience the joy of giving to others, and reflect on how thankful we are. The end of the year also allows us to reflect on our… Read more »

10 Reasons to Buy a House while still in College

There are many reasons why buying a house while still in college can be beneficial. Leaving the nest of your parent’s home and finding your own place to live during college can be a lot of work.  Most college housing is overpriced and hard to get into so why not review your options and buy… Read more »

WHERE ARE ALL OF THE FIRST TIME HOME BUYERS?

What’s going on with the first time homebuyer? It is hard to decipher the recent housing number reports as all of the first time home buyer seem to be disappearing. Because of recent market changes the May housing report is at it’s highest numbers since May 2006. Bloomberg, also reported that mortgage applications have sunk… Read more »

Affect on Mortgage Rates from Bernanke Announcement

Federal Reserve chairman Ben Bernanke announced today that they may be easing the quantitative easing programs as early as this year.  This program includes the purchases of mortgage backed securities (MBS) which are the packaged residential mortgages sold by banks and mortgage companies.  The slowing of these purchases would take affect if the unemployment rates… Read more »

What to do After You Get a Low Appraisal on Your Home

Mortgage Basics 101: What Is A Home Appraisal? According to the Appraisal Institute an appraisal is a professional appraisers opinion of value. In today’s mortgage and lending environment a home owner or buyer cannot get through the mortgage process without getting one of these valuable reports unless the homeowner utilizes one of the few specialized refinance… Read more »

THINKING ABOUT BUYING A FORECLOSURE PROPERTY?

Foreclosures selling fast and at 20% Off Finding a good deal on a home is not as easy as it used to be.  The housing market has started to recover and pick up steam.  Homes for sale are starting to receive multiple bids now instead of not receiving any bids.  The Nation Association of Realtors… Read more »