Financing / Mortgages

Found 7 blog entries about Financing / Mortgages.

Mortgage points can be a confusing topic. 

Some people say you should pay for them. Some say you shouldn't.  Some people don't even really know what they are. So, to clear up the confusion, we went to an expert. Mortgage Specialist Jason Hellman from Dundee Banking spoke with us recently about the Great Points Debate. His answers are fantastic and informative. Enjoy!

When talking about mortgages, what does the word “points” mean?

“Points” is mortgage industry jargon for pre-paid interest charged as a fee at closing. Historically, “one point” was charged by lenders to close a loan.  One point is one percent of the loan amount.  This practice has changed over time.  In most markets, the norm has transitioned from one-point to no-points as a

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You know you live in a world of technology when Google's logo is what reminds you that summer is over and fall has officially arrived. 

We woke up yesterday, cracked open a computer and saw that Google's usual letters had been replaced by six gourds of various colors. A squirrel lurked behind them, popping up ever few seconds to give us a sneaky grin and a quick wave. 

Autumn is here, and with it comes one of our favorite aspects of the golden season and its forthcoming friend, winter: gifts!

What's all this autumn/winter/gift talk about? Great question. 

Over the next few months the All Metro Real Estate blog will feature some pretty cool stories you'll want to cozy up to. Consider them our gifts to you this holiday season! We're excited

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Do you have questions about what exactly a mortgage is? 

If you do, I'm here to help. I work with several mortgage brokers in Omaha; I know these brokers and trust them. These brokers are happy to sit down with you and educate you about what exactly a mortage is and what options are available to you. 

If you are little shy (or if you want to learn about mortgages in pajamas at midnight), take a look at the video I found below.

The video was created by the Khan Academy. The Khan Academy is a non-profit educational website created in 2006 by educator Salman Khan, a graduate of MIT and Harvard Business School. The video covers the very basics. If you want to learn even more, he's created a video about mortage interest rates. 

As I said before,

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2007 saw the start of a severe correction in the housing and credit markets.  There are even websites that track closed mortgage lenders.  My favorite is at: Our housing market experienced the perfect storm.  In no particular order:
  1. Housing values began to decrease
  2. The commercial credit market became constricted and even non-liquid
  3. Employment markets weakened
  4. Down payment requirements increased
  5. Mortgage documentation increased and approvals become more difficult
  6. Many suburban communities experience over building
Each element of the perfect storm fueled the other making the result even worse.  Entire housing markets have been devastated.  Major mortgage lenders and banks have closed.  The big examples…
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Are you considering buying a new home but are not sure if the time is right? While no external market forces can make it the right time for you, they can (or should) convince you to get the process started. Our market is experiencing two external forces that should make you contemplate a new property. For some time now, many buyers have been waiting and watching the interest rate market. Rates were great, and seemingly getting better. When was the right time to ‘catch the falling knife’? Most of 2010 was blessed with 30-year fixed interest rates between 4.25% and 4.75%. These rates are historic records. The Wall Street Journal (Dec. 8, 2010) reports:

Mortgage rates rose again last week to their highest level since July.
The 30-year fixed-rate

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You didn’t get your new home bought before the Federal tax credit expired.  You’re feeling left out and foolish for not taking advantage of this opportunity.  You have never seen a check for $8,000 with your name on it.
Don’t fret.  Step out of the pity-parade and go find your new home.  Why?  Let’s look at the facts.
The National Association of Realtors® (NAR) recently estimated that April sales surged 7.6%.  This is in direct correlation to the tax credit expiration.  If you remember Macroeconomics – as demand for a product increases, so do prices.  Did your friends pay too much for a home so they could get the $8,000 credit?  Bloomberg actually estimated a 27% surge caused by the tax credit.  Ask yourself, if there was a 27% increase in buyer activity,

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mortgage-house-money_200Our media machine in the US has a bizarre and strange habit of confusing the general public with half-truths and bad information.  The main-stream media’s job is simple –  sell advertisements.  They are continually crafting stories to grab at our emotions.  We read and watch and they sell more advertisements.

Below are three gotchas that the media isn’t reporting on today.  These may be serious impediments to your new home purchase or refinance.

Mortgage Rates are going to go up.

As part of Federal stimulus efforts, the U.S. Treasury committed to buy $1.25 Trillion in mortgage securities.  Expert opinions vary, but conservative estimates tie this to approximately 0.5% to 1.0% artificial reduction of retail mortgage rates.  This program ends March

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