A Case for FHA, Seriously
Before we get into the meat of the subject, let’s review some numbers. In the Arizona market, here’s how your potential buyers break down by loan type: • 28% qualify for Conventional loans • 18% qualify for VA loans Doing some simple math, that means that your pool of potential homebuyers who qualify for Conventional […]
We’re From the Government, We’re Here to Help
That’s a line from a really old joke – still funny – that fits perfectly with the here and now. For those of us geeks who live and breathe mortgage “stuff”, we all know that October 3rd was a big day (maybe a “day that will live in infamy” – I’m kidding; couldn’t resist another […]
Cash is Still King, But Appraisers Aren’t Court Jesters
What is someone’s home worth? Short answer, of course: whatever someone is willing to pay for it. And if they’re buying with cash, that’s all the answer one needs, right? So, we all know the real answer is, “for the amount at which it appraises.” As real estate brokers and agents, you already know this, […]
Renting: It’s a Pickle
Research conducted by Freddie Mac indicates that people living in single-family rental properties (a house, townhouse, or condo) may be more likely to buy a home than those living in apartments. But there’s a catch: Freddie Mac’s survey found that overall, about 55% of renters in both single- and multi-family properties intend to continue renting […]
Better SAFE than Sorry
Earlier this month, the Community Home Lenders Association posted on their website a side-by-side comparison of consumer regulation required of non-bank mortgage lenders (like Priority Lending) versus banks. The details are chilling. Every individual Loan Originator at a non-bank lender must: •Be licensed •Complete SAFE Act Mortgage Competency Test •Complete 20 hours SAFE Act pre-licensing […]