Before, during and after the COVID-19 pandemic, home prices steadily climbed. These increases, combined with a growing but still modest inventory of houses for sale, make for hard times for banks and other mortgage lenders.
Many players are involved with a home purchase or refinance. The realtor, of course, comes first to mind followed closely by a home inspector, an appraiser, an attorney, a title agent and a county clerk.
Many players are involved with a home purchase or refinance. The realtor, of course, comes first to mind followed closely by a home inspector, an appraiser, an attorney, a title agent and a county clerk.
Purchasing the first house is a watershed moment in the lives of young couples and individuals. Representing the promise of a happy future, the first home has a way of eclipsing all of the expense and headaches that come with ownership.
For a vast majority of property owners, the home loan is the largest extension of credit they will ever pay down. With hundreds of thousands of dollars -- or more -- at stake, it makes sense that lenders take great care to qualify their borrowers before issuing such large disbursements of funds.
Real estate forecasters look at many variables when making predictions for three, six and nine months out. As they begin to express their opinions on 2022 they quite naturally examine supply of available homes and the level of demand for them.
Why is it that a home loan applicant is politely shown the door by a branch of a national bank yet is approved for the same amount of money by another lender? The answer is that lending institutions are not all created in the same image.
Home buyers and owners have the challenge of acquiring and managing what will likely be the most expensive asset they will ever own. An intelligent approach to this involves careful monitoring of cash flow and an accurate assessment of home value.
If you are a veteran of the United States Armed Forces, an active duty servicemember or an eligible surviving spouse of a veteran, you may be eligible for a Veteran Affairs (VA) home loan.