Understanding the Basics of Entering an HOA

When buying a home there are multiple things to consider. What kind of mortgage are you going to get? Do you want to remodel? However, one of the most important things to think about that many don’t know is whether your neighborhood has a homeowners association (HOA). In this guide we’ll answer all your questions surrounding HOAs like how much they cost, who controls them, and if you can opt-out.

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5 Updates to Create a Smart Home

Now that we are almost finishing up 2020, it is time to bring your home into this decade! Sadly, we still don’t have hoverboards or robot butlers, but you can still elevate your home to make it work more efficiently for you. With a few minor tweaks and a couple of new gadgets, your home can become a smart home. By updating your home’s sound, lighting, temperature, security, and safety you’ll be able to feel like your home is doing all the work on its own. 

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5 Important Forbearance Facts You Need to Know if Freddie Mac Owns Your Loan

Editorial | One of the hottest trending topics in the housing industry during the pandemic has been Forbearance. Millions of borrowers across the United States have been directly or indirectly impacted financially by the volatility of the current market and could potentially benefit from seeking a Forbearance. Many borrowers, however, are unfamiliar with how this type of mortgage relief program works. Borrowers must keep in mind that forbearance doesn’t erase what they owe. Instead, it provides options on how they can affordably repay missed payments later on. In essence, a forbearance is a written agreement that allows a borrower to reduce or suspend monthly payments for a specified time.   

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Want to Close by Your Closing Date? (I Would)

My friend found their dream home in the mountains and was all set to move (the Uhaul was packed and everything!) before they were informed their mortgage file was delayed in underwriting and they were not going to close by their original closing date. While I was on-hand to commiserate with them, I bit my tongue when it came to saying this scenario was avoidable. There are three main factors that often delay a file in process or underwriting, and it behooves you as a borrower to know these potential pitfalls before you advance through the mortgage lending process.

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Are Home Prices Going to Go Up or Down?

Oddly enough, because I write this blog, I get asked all the time by friends and colleagues what I think will happen to housing prices. It has become an even more repetitive ask in these abnormal economic times, as it applies to a wide swath of the population, including: homeowners, potential homeowners, real estate agents, mortgage professionals, economists, media pundits, those casually interested in the housing market, and so on. I do not have a crystal ball, and often the speculative answers vary depending on how the question is approached. However, I do know what will influence prices in either direction.

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Making a Mortgage Loan Application Process Easy

Having an offer accepted on a home is a wonderful moment! But many out there believe the process of getting approved for a mortgage loan is like pulling teeth. There are ways to make it easier, just like flossing regularly before going to the dentist. The loan process is not that hard, as it largely boils down to submitting the collection of items that are required for your loan to be approved by the lender so your file can go through underwriting.  For every mortgage application, there is the basic list of items you will need to provide your lender: 

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What’s Happening to Refinance Rates?!

This heat wave had me craving one of those $.99 Arizona Iced Teas at the convenience store the other day, but when I went to buy it, the store charged me $1.29! The cashier had no answers as to the markup, and paying a little more than I expected certainly cut into the joy of the experience, despite my ultimate satisfaction in quenching my thirst. It’s never fun to pay more than you expect, which has some borrowers looking to refinance frustrated wondering why refinance mortgage rates have shot up recently.

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“No-cost” Refinancing Deals: Should You Consider It?

A “no-cost” refinance simply means that you’re not using any cash reserves to pay the closing costs upfront but in other ways. Mortgage interest rates are the lowest in 50 years, according to the Wall Street Journal and we can now offer you refinancing with almost nothing out of pocket. Although interest rates are at historic lows, refinancing only makes sense if you are aware of all that is involved in your refinancing process.

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