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Mortgage Blog

Wednesday, September 18, 2019   /   by Heriberto Rodriguez

Where Are Home Prices Heading?

Questions continue to rise surrounding where home prices will head throughout the rest of this year, as well as where they may be going in the near future. Here is a look at the forecast from top experts:

Bottom Line


Experts predict home price appreciation to continue over the next few years. The increase is projected to be steepest throughout the rest of 2019, and prices should continue rising as we move through 2020 and beyond. With appreciation growing, now is the best time to buy
Experts predict home price appreciation to continue over the next few years. The increase is projected to be steepest throughout the rest of 2019, and prices should continue rising as we move through 2020 and beyond. With appreciation growing, now is the best time to buy.

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  mortgage, 1st time buyer, loans

Wednesday, September 18, 2019   /   by Heriberto Rodriguez

Powerful Reasons to Own Instead of Rent

Owning a home has great financial benefits. In a research paper titled "Homeownership and the American Dream" Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained:

"Homeownership appears to help borrowers accumulate housing and non-housing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in 'default' savings with mortgage amortization and nominally fixed payments, and the potential to lower home maintenance costs through sweat equity." 

Let's breakdown the 5 major financial benefits of homeownership:

1. Housing is typically the one leveraged investment available.


Homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. A 20% down payment results in a leverage factor of five, meaning every percentage point rise in the value of your home is a 5% return on your equity. If you put down 10%, your leverage factor is 10.

Example: Le ...

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Wednesday, September 18, 2019   /   by Heriberto Rodriguez

Tips for Searching for Your Dream Home

In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips from realtor.com’s article, “How to Find Your Dream Home—Without Losing Your Mind.” 





1. Get Pre-Approved for a Mortgage Before You Start Your Search


One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach. This will help you avoid the disappointment of falling in love with a home well outside your price range.





2. Know the Difference Between Your ‘Must-Haves’ and ‘Would-Like-To-Haves’


Do you really need that farmhouse sink in the kitchen to be happy with your home ...

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  1st time buyer, buying a home, dream home

Tuesday, September 17, 2019   /   by Heriberto Rodriguez

4 Reasons to Buy a Home This Fall

Below are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise


CoreLogic’s Home Price Index reports that home prices have appreciated by 3.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.
Home values will continue to appreciate. Waiting may not make sense any longer.

2. Mortgage Interest Rates Are Projected to Increase



Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage are around 3.6%. Most experts predict rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting a rate increase by this time next year.
An increase in rates will impact your monthly mortgage payment. A year from now, your housing expenses will likely increase if a mortgage is necessary to buy your next ...

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