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Market Comment Mortgage bond prices finished the week slightly positive which put downward pressure on rates. Trading was relatively quiet throughout most of the week and changes were within narrow ranges. The data was mixed but tame inflation readings Friday helped us end on positively. New home sales were 676K vs 790K. Durable goods orders … Continue reading MIG Market Watch, August 2nd, 2021
Chances are good you’ll learn several interesting things on your homebuyer’s journey. For example, there are several ways lenders measure your finances to decide if they can approve a mortgage loan for you. It’s important for homebuyers to understand what lenders work with to determine the risk of loaning you money. One of the biggest … Continue reading Understanding Loan-to-Value Ratio
Sometimes elderly parents need help purchasing a home. If your parents don’t generate enough income to qualify for a mortgage loan, you might be able to take advantage of the Family Opportunity Mortgage to help them get into a home. What Is the Family Opportunity Mortgage? This mortgage program is a little-known one, even though … Continue reading Buy a Home for Elderly Parents With the Family Opportunity Mortgage
One of the biggest obstacles for first-time homebuyers, especially those who are young, is the down payment. With some loans, a 20% down payment is required, which is almost impossible for some hopeful homeowners to save on their own. If you’re buying a home from a family member or close friend and are in this … Continue reading Trouble Coming up With a Down Payment? Use a Gift of Equity
