Forecasting the housing market in the remainder of 2020

One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of 2020? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging. Here’s…

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Some Highlights Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level. Locking in at a low rate today could save you thousands of dollars over the lifetime of your home loan. Let’s connect to determine the best way to position yourself for a move in today’s market.

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Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more…

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Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers have started to reappear over the last several weeks. In the latest report, they revealed: “The March ShowingTime Showing…

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62% of Buyers Are Wrong About Down Payment Needs According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market: “More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”…

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Debit to income Mortgage qualifications

What is Debt-to-Income Ratio? If you decided to buy one of the Florida homes for sale you’ll need to know your debt-to-income ratio (DTI). Simply put, it is the calculation of how much of your monthly income goes to debt payments. Mortgage lenders look at the debt to income ratio to see how much they…

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Construction Loan lenders

What is a Construction Loan? Construction loans are temporary loans used to pay for the building cost of a home. They are relatively short term, and a lender usually takes an ownership interest in the building. It is designed for construction and has features such as interest reserves, where repayment capacity is based on something…

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Monthly Loan Payments

Calculating your monthly payments One of the most important factors to consider when buying a new home is affordability.  As a general rule, mortgage payments should not exceed 30-40 percent of your monthly take-home pay.  When calculating affordability for FHA loans you can use 45% of your monthly income for service debit that would show…

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Mortgage rates

Mortgage Rates; How & why do they change. Mortgage rates are mostly defined by the secondary market, where they are bought and sold. The two government agencies whose job is to keep the secondary market stable are Fannie Mae and Freddie Mac.   These two government agencies not only help to establish the current mortgage rates…

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