Mortgage Tips and Advice
Retire Right: Most Common Uses for a Reverse Mortgage
In general, I believe there are three primary categories of the ways that homeowners use a reverse mortgage: needs based, lifestyle based and planning based.
Three Little Numbers: A History of Credit in America
America’s love-hate relationship with credit is no new phenomenon. In fact, it began before the turn of the 20th century.
Retire Right: Why Reverse Mortgages Can Be Confusing
I have had clients in the past tell me that reverse mortgages are confusing, and I do not disagree, they certainly can be confusing.
US mortgage rates retreat to 6.23%, lowest in four months
U.S. mortgage rates fell to a four-month low last week, supporting more home purchases and refinancing.
Retire Right: Would you rather be house rich or cash rich?
When you retire, would you rather have $500K of home equity and no cash in the bank? Or would you rather have $500K of cash in the bank and no home equity?
What options do the heirs have when it comes to reverse mortgages
One of the largest misconceptions with reverse mortgages is that the homeowner loses ownership of the home, and they cannot pass the home onto their heirs. That is simply not true, you still retain ownership, and you can absolutely still pass the home to your heirs in the future.
Are reverse mortgages expensive?
People ask me the question, are reverse mortgages expensive? I typically reply by asking the question, “compared to what”?
How does a HECM or Reverse Mortgage actually work?
In one sentence, a HECM/Reverse Mortgage is a home equity loan that does not require traditional monthly payments.
Home for the holidays – gift giving to first-time home buyers – Part 2
An exceptional gift idea is helping your relative or loved one with an interest rate or mortgage buydown
Mortgage rates fell in November, stimulating mortgage applications
Mortgage rates more than doubled in 2022, but good news made an appearance in November, a positive sign for those buying or refinancing a home.
What is a HECM Reverse Mortgage loan?
Have you heard of a HECM loan? If not, let me share with you what it is and clarify if it is something you should consider.
Gabe Bodner of The Bodner Team makes move to OneTrust Home Loans with The Rueth Team
The Bodner Team, in partnership with The Rueth Team, has announced its move to OneTrust Home Loans.
Silver lining of the feds raising interest rates
The Federal Reserve is raising interest rates yet again. Is there any silver lining to this increase? There’s one: savings accounts.
Housing market trends: Signs nationwide show upside for buyers
The housing market continues to be challenging for home buyers and sellers alike, especially in Boulder County where price increase and low inventory exceed national averages. Experts suggest patience and a knowledgeable Realtor help navigate these unprecedented market challenges.
Colorado homeowners offered largest home equity loans nationwide
Colorado homeowners receive an average home equity loan offer of nearly $130,000, which is the largest home equity loan offer in the U.S., according to analysis by LendingTree, an online loan marketplace.
Do falling home prices offset higher interest rates?
Now that interest rates have risen from the 3.5% range to the 7% range, will home prices decline to balance out the purchasing power?
Recession vs. pricing correction
How can you tell if we are entering a recession or a simple market correction? Here’s what you need to know.
Is Buying a New Home Now Financially Savvy?
Given today’s market, is it better to wait to buy that new house, sidelining the lifestyle you crave, or is it financially wiser to take advantage of the equity you have now?
Are there alternatives to foreclosure?
At the first sign of not being able to make the monthly mortgage payment, the homeowner should start out with contacting a real estate attorney, a Realtor®, and their mortgage lender to review all the options
What is a 2-1 buydown and how can it benefit you?
At its core, a 2-1 buydown is a type of mortgage agreement between a home buyer and their lender. If it’s right for you, it could open up options and get you into your dream home.
Rising interest rates decrease purchasing power
Today’s market is tough on first time buyers. The inventory of homes and condos purchased by first-time buyers continues to be low, and along with inflation, home prices are being pushed upward in most markets.
Tips and Mortgage Advice for Buying a Home in a Competitive Real Estate Market
Here are some tips from their mortgage team on buying a home in a tough market, what pre-planning steps you can take to streamline the process and mortgage options for prospective homebuyers who want to live the Colorado dream.
What you need to know about mortgage interest rates
Thinking about pursuing the path to homeownership? With home prices steadily climbing, there’s a definite cost to waiting.
Remodeling your home? Here are ways to pay for it
Homeowners have plenty of options when it comes to financing new kitchen remodel, spiffed-up bathroom design, new mud room or added wing.
A Closer Look: The 30-year mortgage
The average interest rate on a 30-year mortgage is now 5.35 percent. That’s over two percentage points higher than at the beginning of 2022. These higher interest rates will undoubtedly change the home-buying scene as people weigh the costs of borrowing. But one constant is that the majority of new mortgages are of the 30-year fixed variety. Ever wonder why?
How will the sharpest rise in mortgage rates in three decades affect home prices?
Some mortgage watchers say the 2022 run-up in mortgage rates could be even more dramatic than in 1994.
Fannie Mae and Freddie Mac’s new addendum requirement for condo purchases
While condos can be an excellent choice for many households, it’s important to note that government-sponsored enterprises Fannie Mae and Freddie Mac have recently added an addendum requirement for an extra layer of protection.
FHFA announces fee increases for high-balance and second-home loans
If you’re considering a second home or a property that’s priced above the conforming loan limits for your area, the Federal Housing Finance Agency’s (FHFA) new announcement regarding fee hikes may affect you.
6 ways to save more money in 2022
Improving your diet and health are common New Year’s resolutions, but improving your financial health should be a priority, too.
Homebuyer programs help buyers keep pace with rising home prices
The following are some of the best first-time homebuyer loan options
