Dec 17, 2024 • 1 min read
We’d all love to see lower rates, but over 6% appears to be the new norm. “From an affordability perspective, we think 2025 will look a lot like 2024.” Fannie Mae, chief economist, recently shared in their latest forecast. Adding that “sales of existing homes are expected to remain near 30-year lows next year” as elevated […]
A few years ago, an Islamic home buyer would have found it almost impossible to get a mortgage compliant with Islam’s sharia law, which prevents the faithful from paying interest. Today, sharia-compliant loans are a growing market.
Here’s a warning for potential borrowers: Nervous lenders have tough new rules and are paperwork-crazy. Borrowers are going to have to prove they are the borrower they say they are; homebuyers should consider these things before they apply for a loan. 1. Down payments are critical. Borrowers should expect to put down at least 10 […]
Shopping for a home loan? Things have probably changed since the last time you purchased. Here’s a great article for CNN keeping you up on what you need to consider.
I’ve seen some mis-information in the media lately about the required size of a down payment for a mortgage in today’s market, and the blog world is abuzz with misconceptions. An individual may be required to put down 20 percent based on that person’s financial situation. But that is not an across-the-board requirement for all […]
Here’s a great article from the Washington Post highlighting why FHA is once again becoming a major player in the mortgage market. For the past few months, nearly every loan that Laura Triplett has closed for customers at SunTrust Mortgage has been backed by the Federal Housing Administration. “I’ve got another 20 people closing in […]
