Tag Archives: Idaho

Mortgage Budgeting 101: How to Determine What You Can and Can’t Afford

When taking on a new mortgage, it is important to know that you can afford to carry the debt load involved, as many people find themselves in financial trouble by spending more on real estate than they can comfortably maintain. Your mortgage budget can be calculated to determine just how much you should spend on […]

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10 Commandments of Lending For Borrowers

Thou shalt not change jobs, become self employed or quit your job. Thou shalt not buy a car, truck or van (or you may be living it)!! Thou shalt not use credit cards excessively or let current accounts fall behind. Thou shalt not spend money you have set aside for closing. Thou shalt not omit […]

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How Pre-Qualifying Helps You Find the Right Home

Too often, home buyers are disappointed when they find their dream home only to discover they are not able to get a mortgage to purchase the property. There are methods that potential buyers can use to ensure this does not happen to them. One of these options is to ensure you obtain a pre-qualification from […]

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Why It’s Critically Important To Have A Home Inspection

Many home buyers have found the perfect house, signed on the dotted line and may think they’ve watched enough home improvement shows to know if the home they’re getting is in good shape. Unfortunately, some buyers make the mistake of skipping a home inspection in order to save a little cash. Even if a home […]

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Homebuilder Confidence Rises To 5-Year High

Home builder confidence rises again. For August 2012, the National Association of Homebuilders reports the monthly Housing Market Index at 37 — an increase of more than 100% from one year ago and the highest HMI value since February 2007. The Housing Market Index is an indicator of homebuilder confidence and when it reads 50 […]

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Mortgage Rates for the week of: June 11, 2012

Mortgage markets worsened last week, halting a multi-week mortgage rate winning streak in Idaho and nationwide. With little economic news on which to trade, investors took their cues from the world’s central banks. Fed Chairman Ben Bernanke neither dismissed nor promised new market stimulus in the near future, nor did leaders in the Eurozone. China, […]

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Mortgage Rates for the week of: June 4, 2012

Mortgage markets improved last week in response to ongoing concerns for the European Union and an across-the-board weakening in U.S. economic data — including the much-watched jobs report. Conforming mortgage rates in Idaho eased lower last week, falling to a new all-time low for 6th week in a row. The moves have been modest, however, […]

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Mortgage Guidlines Are Tightening Nationwide

Despite an improving U.S. economy, the nation’s banks remain cautious about what they will lend, and to whom. Last quarter, by a margin of 3-to-2, more banks tightened residential mortgage lending standards for “prime borrowers” than did loosen them. A “prime borrower” is defined as one with a well-documented credit history, high credit scores, and […]

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How do self employed buyers get a mortgage?

Self-employed borrowers present one of the most challenging areas of mortgage underwriting. Qualifying self-employed people often requires time, energy, and patience. A fair and honest qualification requires a special set of skills. Most mortgage companies underwrite their loans based on guidelines established by the Federal National Mortgage Association (Fannie Mae), the Federal Housing Administration (FHA), […]

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Pending Home Sales On The Rise

After a series of worse-than-expected data last month, the housing market appears to be back on track. The Pending Home Sales Index posted 101.4 in March, a four percent gain from the month prior and the index’s highest reading since April 2010 — the last month of that year’s federal home buyer tax credit. A […]

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