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If you or someone you know has been feverishly looking for a home to purchase using the MSHDA Grant for first time home buyers then you luck may have run out. MSHDA unexpectedly announce the exhaustion of grant funds for first time home buyers using the $3000 credit on Wednesday the 27th at 5:00PM. Earlier… Read more »
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OWNING YOUR OWN HOME AND THE ITS TAX BENEFITS
It seems like every year tax season sneaks up on us all. This may be a blessing for some but a huge burden to others. Regardless of where you sit come tax time one thing is for certain those homeowners who own homes will receive a tax break. All of our situations are different so… Read more »
MSHDA Grant Money Running Low
MSHDA first time home buyer grant money is running low for those looking to purchase homes in Michigan. With the program’s inception only a couple of months ago, funds are already running low for buyers purchases homes using the national mortgage settlement grant funds. The current balance as of March 19th, 2013 is at $4,771,560… Read more »
HARP Refinancing Beat 2012 Estimates
HARP refinancing beat 2012 estimates with nearly 1.1 million loans closed last year. Fannie Mae and Freddie Mac released a report for the Federal Housing Finance Agency confirming last year totaled nearly half of the 2.2 million loans completed since the HARP program was announced in 2009.The majority of homes were primary residences with 1.89 million… Read more »
INCREASE YOUR CREDIT SCORE WHEN APPLYING FOR A MORTGAGE
Mortgages have been a hot topic of conversation lately as rates continue to track lower and lower. People continue to refinance their homes at unprecedented rates and new home sales are also starting to pick up. People do not want to miss the golden opportunity which comes along with historically low rates. The only problem… Read more »
JOBS REPORT AND MORTGAGE RATES
One important financial which really helps shape the interest rate mortgage market is the jobs report. This is a report that comes out once per month and is considered by most to be the main economic report for the economy. Since 2010 the general trend in this job report has been a slow and steady… Read more »
How to Play the Rate Lock Game
How do Mortgage Rates Work? There are some things that are way beyond our control. One of those things is mortgage rates. Mortgage rates fluctuate all the time. They fluctuate many times a day sometimes. They fluctuate based on the financial markets. The better the financial markets get the worse rates get as a general… Read more »
FHA MORTGAGE INSURANCE PREMIUMS TO GO UP APRIL 1ST!
Unfortunately, FHA has recently announced some change to the FHA mortgage insurance premiums for all new FHA loans starting April 1, 2013. It just seems as if FHA continues to raise the mortgage insurance premiums to try to get it back in line so the program remains self funding. Unfortunately, the reason behind these changes… Read more »