Tag Archive for: homebuying

Different Types Of Mortgage Loans For Homebuyers

Homebuyers have many options when it comes to mortgage loans. Whichever loan you choose should be the best fit for your specific situation. Each program has particular qualifications and requirements. This blog will explain the details of the different types of loans that most homebuyers will encounter when planning their home purchase.Read More

What Is The Average Cost Of Homeowner’s Insurance?

Homebuyers are typically required to obtain homeowner's insurance in order to get their mortgage approved and funded. The average cost of homeowner's insurance in California is $1,166 annually or approximately $97 per month in 2020. California boasts the second-cheapest homeowner's insurance rates nationwide, which is a huge boon for California homebuyers. In Texas, the average annual premium for homeowner's insurance is $3,429, or about $286 per month.Read More

Minimum Down Payment for a ‘Typical’ Home

Many homebuyers want to know what is the minimum down payment they need to purchase a home. These are some scenarios for homebuyers who are interested in buying a home in California or Texas.Read More

3 Reasons Refi Rates Are Higher Than Purchase Rates

“The average rate posted on Bankrate.com for a 30-year fixed refinance mortgage was 3.39% Monday, well above the 3.14% on offer for a purchase mortgage, according to the personal-finance website.” […]Read More

Rent Credits For Down Payment Funds

This is a quick reminder that renters can use “rent credits” towards their down payment. The entire down payment can be in the form of a rent credit in fact. […]Read More

Habib’s Optimistic Housing Market Predictions; What About Agents Who Are Unable to Leave Home?

Everyone is asking and wondering what will happen to the housing market as a result of the COVID-19 crisis. And fortunately one of the most accurate prognosticators weighed in on […]Read More

5 Reasons Why There Is Demand For Housing Right Now

5 Reasons Why There Is Demand For Housing Right Now There are numerous signs that the purchase market is coming back to life and that there is an increasing demand […]Read More

Why People Remain Bullish On The Housing Market; Foreign Buyers

There are numerous signs that the purchase market is coming back to life. Anecdotally, the number of pre-approval requests in our office are up over 50% from our March and […]Read More

Qualifying After Returning to Work

Many people are wondering how soon laid off and furloughed borrowers will qualify for mortgage financing once they return to work. EMPLOYMENT GAP UNDER SIX MONTHS If the layoff or […]Read More

New Reasons to Buy Now; Conforming Loan Limit Reminders

THE CRAZIEST THING HAPPENED LAST WEEK… A seller in an extremely hot market agreed to $15,000 of credits and concessions after the inspection reports came back. We are still seeing […]Read More

The New Millennial Housing Market in Texas

Millennial buyers (those born 1981-1997) have quickly entered the housing market and they are rapidly becoming the largest and fastest-growing demographic. A 2020 Realtor.com forecast gave the estimation that 51% of the housing market will be comprised of millennials, outnumbering both Generation X and Baby Boomers combined. This will be especially prevalent in Texas markets where millennials make up on average, 25% of the population.Read More

Appraisal Waivers; Appraisal Contingency Waivers; & DANGER!

Many lenders are again touting “Appraisal Waivers” as something unique that only they offer. Appraisal or “Property Inspection Waivers” are, however, available to every borrower obtaining a “conforming” loan (that […]Read More

10% Down to $1.24 Million; 5% Down to $1.07 Million

“High Balance” Conforming Loan Limits are now $765,600 in “High Cost” areas, which include much of coastal California including the Bay Area. These much higher conforming limits now allow buyers […]Read More

Predictions for 2020 – Higher Rates; Tech Disruptions; Fight for Eyeballs; Collapse of Mortgage Industry; Start of Boom

I have read dozens of predictions of various sorts over the last month, so I thought I’d add a few of my own. HIGHER RATES While many pundits like Barry […]Read More