Mortgage Rate Recap and Outlook For Week Ending March 23, 2018

This week’s news focused on the Federal Reserve Bank’s Open Market Committee meeting on March 21st, with minimal speculation about the outcome of the meeting — an increase in the Federal Funds overnight rate.  There was a surprisingly mild reaction in the bond and stock market after the Fed hiked the rate from 1.5 to […]

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Understand Capital Gains When Selling Your Home

Understanding how capital gains tax affects your profit when you sell your home can be challenging.  According to IRS guidelines, it depends on time and money, and it’s not that simple. Capital gains tax is a fee you pay when you sell your home for more than you paid for it. But when you sell, […]

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Mortgage Rate Recap and Outlook For Week Ending March 16, 2018

This week’s news has had little impact on mortgage rates.  Trade war concerns shifted from steel and aluminum tariffs to China’s history of piracy issues in technology and intellectual property. The majority of the media commentary is around the appointment of Larry Kudlow as White House economic advisor. Kudlow has a pro-growth, anti-tariff, pro-tax-cuts stance, […]

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The Rest of the Four C’s: Credit, Capital, and Collateral

To understand how the underwriter looks at your information, you need a detailed explanation of the remaining three C’s.  Each C covers a lot of information, and the impact of government regulations push and pulls all of it outside the boundaries of common sense. Looking at the process may shed light on the underwriter’s decision […]

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Borrowing Down Payment from 401k or IRA for Home Purchase

Securing a down payment is often cited as the biggest challenge for buying a home – both for First Time Home Buyers and Move-up Buyers. To overcome these challenges, you can consider borrowing from retirement funds – 401k and IRA. Here is how it works. Borrowing Against 401k for Down Payment   How Much Can […]

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How Do Underwriters Decide Who Gets A Mortgage?

The Four C’s of Credit: C #1 – Capacity Lenders haven’t changed the method used to determine if someone qualifies for a mortgage in decades. But if you’re on the outside, the one waiting to hear if you’re approved, the mystery of how they decide might be frustrating. Yes, qualifying is a detailed process, but […]

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Mortgage Rate Recap and Outlook For Week Ending March 9, 2018

The big news dominating financial markets right now is split between the continued improvement in employment numbers and the potential impact of the pending Tariffs on steel and aluminum. So far this year, most economic releases have met or exceeded predictions, proving that the economy is growing. But right now – the focus of the […]

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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 […]

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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 […]

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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 […]

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