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Blog

30 Mar 2023
By Fred Gruber

Rebuilding Costs: Rethinking How Much Homeowners Insurance You Really Need

Mortgage , ,
Buying a home comes with numerous financial planning obligations. It's far from a turn-key operation and one of the significant challenges involves developing a working knowledge about things often outside your area of expertise. For example, working as an educator, police officer, investment banker or office staffer does not necessarily make you an expert about home repairs or insurance coverage. Yet, the average homeowner is tasked with carrying a certain level of homeowners insurance coverage without a strong working knowledge. Many homeowners just purchase enough insurance to cover the purchase price or take the advice of others. Both of those…
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29 Mar 2023
By Fred Gruber

5 Tips for Crafting a Counter-offer That Doesn’t Scare Away a Potential Home Buyer

Home Seller Tips , ,
If you've recently put your home up for sale, one of the most exciting parts of the selling process is getting an offer. However, all is not said and done once you've received an offer, as you'll probably want to negotiate a better price. If you're wondering how you can counter without losing a potential buyer, here are some tips when the time comes to negotiate. Lower Your Price (A Little) As a seller, it's important to believe in the price you've put your home on the market for, but lowering your asking price after getting an offer will tell…
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27 Mar 2023
By Fred Gruber

What’s Ahead For Mortgage Rates This Week – March 27, 2023

Financial Reports , ,
Last week’s financial and economic reporting included readings on sales of new and previously-owned homes, along with weekly data on mortgage rates and jobless claims. Single-Family Home Sales Rise in February Year-over-year sales of previously owned homes rose 14.5 percent to a seasonally-adjusted pace of 4.58 million sales. Analysts expected 4.20 million sales of pre-owned homes as compared to January’s year-over-year reading of 4.0 million sales. February’s increased sales halted 12 months of falling sales of previously-owned homes. February’s reading marked the highest pace of sales since July 2020, when sales of pre-owned homes rose by 22.40 percent. The National…
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24 Mar 2023
By Fred Gruber

3 Things That Will Absolutely Kill Your Chances for a Mortgage Approval

Home Mortgage Tips , ,
If you're about to seek approval for a mortgage, you'll want to ensure you have a solid credit score and clean financial records to boost your likelihood of being approved. There are certain characteristics that lenders want to see in a mortgage applicant before they agree to give a loan, and you want to prove that you're a responsible borrower. But certain behaviors can easily tank your application and crush your home ownership dreams. Before you seek approval, make sure your finances are in order. Avoid these three mortgage-killing habits while your lender evaluates your loan and you'll quickly find…
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23 Mar 2023
By Fred Gruber

Mortgage Interest Rate Versus APR: What To Know

Mortgage , ,
When you go through the process of applying for a mortgage, you need to make sure you understand all of the terms on the page. Two of the most common numbers you will come across include the mortgage rate and the APR. Many people associate both of these numbers with interest rates, but you will probably notice that they are not quite the same. What are the differences between these two numbers, and how are they going to impact your mortgage loan? The Mortgage Interest Rate The first number you are probably going to look at is the mortgage interest…
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22 Mar 2023
By Fred Gruber

Navigating A Market With Higher Interest Rate

Mortgage , ,
Even though interest rates have gone up significantly during the past few months, there are still opportunities for you to find a home at a great price. The high interest rate can be discouraging for some people, but as long as you know how to navigate the market, you can still put yourself in a position to be successful. Put More Money Down The easiest way to combat a high interest rate is to reduce the amount of money you borrow. That means that you might need to put more money down. Of course, this means that you might need…
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21 Mar 2023
By Fred Gruber

Understanding Mortgage Pre-Approvals and How to Avoid Being Declined for One

Home Mortgage Tips , ,
The mortgage process is a long and complicated one, with a number of similar-sounding terms that can easily confuse first-time homebuyers. A pre-approval is not the same thing as a pre-qualification, and it's important to understand everything that goes into a pre-approval. Being declined during the pre-approval process means you'll have a hard time getting the funds you need to buy your home, so it's important that you know what the process is going to look like before going into it. How does a pre-approval work, and how can you make sure you won't be declined? Here's what you need…
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20 Mar 2023
By Fred Gruber

What’s Ahead For Mortgage Rates This Week – March 20, 2023

Financial Reports , ,
Last week’s economic reporting included readings on housing starts and building permits issued, the National Association of Home Builders Housing Market Index, and Fed Chair Janet Yellen’s Senate testimony. The Commerce Department reported on housing starts and building permits issued published, and a monthly reading on consumer sentiment was published. Weekly reports on mortgage rates and jobless claims were also released. Two bank failures instill fear in depositors In the aftermath of two bank failures last week,  US Treasury Secretary Janet Yellen said that “the banking system is sound” during testimony to the US Senate last Thursday. When asked if…
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17 Mar 2023
By Fred Gruber

Is A VA Loan The Best Option For Your Needs?

Mortgage ,
If you plan on buying a house in the near future, there are a few mortgage options available. One potential option is called a VA loan. This is a loan that has been backed by the Department of Veterans Affairs, and it could provide you with some added flexibility that you can use to purchase a house. Is a VA loan right for you? There are a few points to keep in mind. Who Qualifies For a VA Loan? First, not everyone is able to access a VA loan. This is a loan that is generally only available to active members of…
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16 Mar 2023
By Fred Gruber

Should You Pay Discount Points When You Get Your Mortgage?

Mortgage , ,
One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment or to take a bit of money from your down payment and use it to buy "discount points" to lower your interest rate. There are pros and cons to doing both and each borrowers situation will be different so it's important to understand which option is best for your individual situation. Some factors you should consider include: Cost of borrowing - generally speaking, to lower your interest rate will mean you pay…
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