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...
by kramoltz@hotmail.com | Aug 31, 2016 | Mortgages + Lending
Mortgage rates continue to hover around all-time lows, with the 30-year fixed-rate averaging around 3.43% this week, making this the ninth consecutive week that mortgage rates have been below 3.5%. Want even a lower rate? 15-year fixed-rate mortgages averaged...
by kramoltz@hotmail.com | Jul 1, 2016 | Mortgages + Lending
MPA Magazine reports that large banks are leaving the home mortgage business. They originated just 52% mortgages in 2014, down from more than 70% seven years earlier. The magazine cites the CEO of BankUnited (a Florida based bank) who said “We can’t make...
by kramoltz@hotmail.com | Jun 27, 2016 | Mortgages + Lending
Over the past few years the federal government and lenders have taken several steps to open up the credit box. Signs that the efforts were paying off came last fall when credit scores on closed loans lowered to 723. As of April 2016, the average FICO score was still...
by kramoltz@hotmail.com | Jun 6, 2016 | Mortgages + Lending, Real Estate Facts & Figures
MarketWatch.com reports that the number of appraisers is down 20% from 2007, and the number in that profession is expected to decline steeply in the next five years. Residential has been hit harder than commercial, with predictions that the decrease could continue by...
by kramoltz@hotmail.com | Jun 1, 2016 | Home Buying, Mortgages + Lending
The AzHFA Home Plus Mortgage Loan Origination Program provides down payment assistance to Arizona home buyers with an annual household income less than $89,000 using a Fannie Mae, 30-year fixed mortgage. The down payment assistance can be used to purchase a home under...
