It’s not easy being a homebuyer in today’s market. If low inventory and high home prices weren’t enough, once record-low mortgage rates have risen to levels not seen since 2008. It’s enough to inspire anyone to consider all sorts of financing alternatives on the journey toward buying a home. But in your mortgage search, you may have overlooked HomeReady. Never heard of … [Read more...] about Get HomeReady: An Affordable Mortgage Program You Might Have Missed
Adjustable-rate mortgages (ARMs) have surged in popularity, reaching their highest numbers since the Great Recession.Recent volatility in the housing market has made ARMs an attractive option for borrowers seeking low initial interest rates.While better regulated than they once were, ARMs still carry risk: Borrowers could wind up paying more than they would on a fixed-rate … [Read more...] about The ABCs of ARMs: How Adjustable-Rate Mortgages Work
🔑 Key Points: Want to know what you can afford? Find today’s rates here. As rates have gone up, so has the demand for adjustable-rate mortgages (ARMs).Volatility remains, as rates shift day-to-day amid economic uncertaintyBuyer demand has been softening in response to decreasing affordability.Homebuilder sentiment has declined with the drop in buyer … [Read more...] about The Morty Report: Up in ARMs
Buying another property is a dream for many homeowners. Who wouldn’t want to own an additional home, or even earn income from it? But getting a mortgage for an investment property or second home is more complicated than getting a mortgage for your primary residence. If you’re thinking about adding another home to your property portfolio, here are a few things you … [Read more...] about Vacation Home and Investment Property Mortgages
While strolling through your neighborhood (or scrolling through online listings), you might see signs on homes that read “pending” or “contingent.” When a home you’ve been eyeing finds itself in either status, you may wonder if it’s now too late to buy. The two concepts can stir up a lot of confusion: What exactly do these statuses mean to both a buyer and seller? Can you … [Read more...] about Contingent vs. Pending: What’s the Difference?