by kramoltz@hotmail.com | Mar 7, 2017 | Home Buying, Home Ownership, Mortgages + Lending
Fannie Mae announced HomeStyle Energy mortgage program last year, to help borrowers finance energy and water upgrades to make their home more energy efficient when buying or refinancing a home. The loan makes buyer-owners eligible to receive up to 15% of the...
by kramoltz@hotmail.com | Feb 6, 2017 | Home Buying, Mortgages + Lending
In part 1, I showed how lack of awareness of low-down-payment mortgage options can discourage potential buyers from trying to purchase a home. Historically only 5% of the purchase price is enough. And one way to get there is a government sponsored down payment...
by kramoltz@hotmail.com | Dec 30, 2016 | Mortgages + Lending
Not too long ago in Banks Leaving the Mortgage Business, I wrote about a report that large #banks have left the home #loan market – originating just 52% mortgages in 2014, down from more than 70% seven years earlier. But bank portfolio loans (the mortgages they...
by kramoltz@hotmail.com | Oct 19, 2016 | Home Buying, Mortgages + Lending, Selling Your Home
Loan Related. Like many pre-paids, these are the sums paid to the buyer’s lender or as a result of the lender’s requirements. Examples include a credit report fee, flood certificate fee, and a tax service fee. Fees payable directly to the lender, such as...
by kramoltz@hotmail.com | Oct 17, 2016 | Home Buying, Mortgages + Lending
A recent NAR survey of more than 2,700 Americans showed that more than 80% of consumers across all ages, income brackets, and education levels believed a down payment of 10% percent or more was required to purchase a home. However, the average median down payment for...