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Can I use Restricted Stock Units (RSUs) for mortgage qualification?

Restricted Stock Units (RSUs) are a common form of compensation in high-tech companies (and some not so high-tech). But using that income to qualify for a mortgage has been a challenge. Well, not anymore! Subject to certain guidelines, income from RSUs can now be considered qualifying income towards a mortgage. RSUs are an eligible source of income for employees of publicly traded companies subject to the following requirements: • No more than 35% of your total qualifying income may be generated from RSUs • The stock must be from a publicly traded company; so…continue reading →

What Could Possibly Go Wrong On Your Refinance Appraisal?

  Did you know that the appraisal definition of a homes' market value is the price a willing buyer and seller agree to on the open market? That's exactly what happens when you buy a home - a willing buyer and seller have agreed to a price. But what's the market value of a home if you're refinancing and there's no buyer and seller? Get a live rate quote for your Refinance Maybe you're refinancing for a lower interest rate, called a 'rate and term,' or to borrow more money than the existing…continue reading →

Interest Paid on HELOC Still Deductible Under New Tax Plan

Do you have a line of credit or planning to take one?  Not sure about the impact of the tax plan on home equity loans, home equity lines of credit (HELOC), and second mortgages? Citing the "many" questions it received, the Internal Revenue Service issued a bulletin last week that clarifies how these loans will be treated under the new tax plan. Get a customized rate quote for your new mortgage According to the IRS bulletin, the interest paid on home equity loans and lines of credit (HELOC) is still deductible, as long as the money is…continue reading →

Best Markets To Invest In Real Estate For 2018

If you're planning on buying rental property this year - why not target cities where you can buy low and rent high?  The best markets to buy rental property have good rental cash flow and equity growth.  Look for these three things, according to RealWealth Network: Job growth Population growth Affordability Identifying 16 'best-buy' markets for 2018, RealWealth Network highlighted four cities in Florida with good potential: Orlando, Tampa, Jacksonville, and Cape Coral. Since taking an economic hit in the great recession, Florida offers low prices (under $125,000), property tax and insurance rates.…continue reading →

Here’s How To Prepare For The Spring Home Buying Season

After the Super Bowl, real estate professionals know the next big event on the calendar is the Spring Home Buying Season.  A time when more homes are for sale, and house hunters scour the internet so they can devote their weekends to the open (house) trail. But a tight real estate market and stiff competition mean buyers need to bring their A game. You don't want to fall in love with a home and then scramble around in an emotional tizzy to get your financial house in order. Good news! There's a right…continue reading →

Can I Buy A Home Before Selling My Current Home?

If you have lived in your current home for a few years and thinking of moving up, i.e. buying a bigger and better home, the question that you are most likely thinking is - "Can I buy that home before selling my current home?" Advantages of Selling before Buying: You won't have to qualify for two mortgages at the same time. You will have more cash to put down on the new home (assuming you have built some equity in your current home). Since you would know exactly how much you netted from…continue reading →

Mortgage Rates Rise To The Highest Levels In ~3 Years

After rising for the 5th straight week, 30-Year-Fixed mortgage rates are now at the highest levels since April 2014. 15 Year-Fixed is fairing even worse; now at the highest levels in almost 7 years. According to Mortgage Banker Association weekly survey,  30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) increased to its highest level since April 2014, 4.50 percent, from 4.41 percent, with points increasing to 0.57 from 0.56. 1 point is equal to 1% of the loan amount. The interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than…continue reading →

Mortgage Interest Rate Prediction for 2018

Fannie Mae, Freddie Mac, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR) have all issued their economic forecasts for 2018, including their predictions for where mortgage interest rates will be by the 4th quarter of the year. And while their attention is focused on the same key factors impacting our economy this year - individual predictions for the year ending rates range from a stable 4.1% (Fannie Mae) to a cringe-worthy 4.9% (Freddie Mac and MBA) 30 year fixed rate mortgages. Clearly -- they’re not buying their crystal balls…continue reading →

Top 5 Mortgage Trends for 2018

There's always a lot going on in the world that impacts mortgages, with global and national news popping up throughout the year to surprising effect -- both positively and negatively.  But at the outset of 2018, here are the 5 major mortgage trends sure to have an impact. #1 Tax Reform and Jobs Act of 2017 The new Tax Reform bill was signed into law by President Trump on December 22, 2017, but the impact it may have on mortgages and real estate in 2018 is a hot topic of speculation.  The new…continue reading →

New FHA Loan Limits for 2018; Limits to increase in >3,000 counties

The Federal Housing Administration (FHA) recently announced the agency's new schedule of loan limits for 2018, with most areas in the country to experience an increase in loan limits in 2018. In fact,  3011 counties in the country will see an increase in loan limits for 2018, while 223 counties will see no change (compared to 2017). In high-cost areas of the country, FHA's loan limit ceiling will increase to $679,650 from $636,150. FHA will also increase its floor to $294,515 from $275,665. Low-Cost Area: The FHA national low-cost area mortgage limits, which…continue reading →

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