Home Mortgage and Finance

There are currently 176 blog entries related to this category.

You read that right, interest rates have dropped to their lowest level of 2014 and are below 4% right now, thanks in part to Ebola. With the second case of Ebola in Dallas, ISIS, a weak European economy and other problems around the world, investors are pulling their money from the stock market and putting it into the bond market. When the purchase of bonds increase, the bond yield decreases and as a result, so do mortgage interest rates.

I've spoken with a lender today who has seen rates drop as much as .75% today which is unheard of. I never thought we would see rates fall below 4% again and yet they have. Do the experts think this will last? No, the US economy is still very strong and it is only a matter of time before money gets put back into the

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Although the government has backed off the purchase of mortgage backed securities, mortgage interest rates remain historically low. There have been moderate fluctuations in interest rates over the last twelve months, but the rate on a thirty year fixed, conforming loan remains in the low 4% range. This bodes well for Sellers as demand for inventory remains high. The low rates combined with affordable housing prices create the perfect buying opportunities as well.

The general consensus seems to be that it is difficult to obtain a mortgage loan in today’s environment. However, in spite of increased documentation requirements, a borrower with reasonably good credit, a two year work history and a minimum down payment of 3.5% (all of which can be a gift from

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What is the cost of waiting to buy a home in Denver these days? Working with buyers, I hear
a lot of the time, "I"m waiting to buy... to get a larger downpayment, for my lease to expire,
the timing to be right, the prices to come down, etc., etc., etc." Many of these are very valid
and real reasons and I certainly understand where buyers are coming from. However, after seeing this latest graph and stats, I feel it is my duty as an agent to let all buyers know how important it is to not wait to buy if you can manage it.

The great graph below was provided by Megan Aller with Land Title. Megan tracks the Denver Real Estate statistics better than anyone in Denver and the info she provides is always top notch and eye opening. The graph is pretty self

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If you’re a prospective home buyer, bumping up against multiple offers in this Seller’s Market can be challenging. Choosing the best Lender for your team will give you an edge.

Choosing an experienced local Lender will mean they have familiarity with the local Realtor community. Listing Agents evaluating offers will want to know your Lender is a trusted professional working right in the neighborhood that can get the job done.

Your Lender will know the importance of thoroughly pre-approving you before you begin your home search, and be willing to stake their great reputation on the strength of the Pre-Approval letter.

Make sure your Lender has outstanding availability. Speed in communication is vital in competing with similar offers. Listing

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Nearly 1,300 new apartments were added to the metro Denver rental inventory during the second quarter, but rents still edged up and vacancy rates declined according to a recent article from the Denver Post about the incredible rental market in Denver, click here. This says a lot for how strong the rental market in Denver is when you add 1,300 apartments and vacancy rates declined while rental rates rose. 

When driving around town, especially Downtown, it is hard to believe there is enough demand to keep up with all the apartments that are being built. This article makes some really interest points though to show that even with everything being built, it won't be enough to keep up with the growing demand for years to come. "The state of Colorado

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According to Freddie Mac’s weekly mortgage rate report, average rates for 30-year fixed rate mortgages is now at the lowest it’s been all year. This is good news for anyone who’s looking to buy a home in Denver, but it’s great news for current homeowners hoping to reduce their rate.

As of this week, the average rate for a 30-year fixed rate mortgage was 4.19%, the lowest rate in a year. 15-year mortgages, popular for many people considering refinancing, are of course even lower. If you’ve been on the fence about refinancing, now is the time.

Refinancing can save you tens of thousands of dollars over the lifetime of your loan. I can assess your current situation with a cost benefit analysis to ensure refinancing will save you money and put you in

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Creative loan programs will gain popularity to assist in home affordability as mortgage rates continue to rise from all-time lows in 2013 according to Elliot Eisenberg, a leading Chief Economist.

Adjustable rate mortgages can be a smart option, especially Hybrid Loans, which are fixed for a certain period of time, i.e. 7 years, and then adjust thereafter based on the movement of a market index (ex. LIBOR).

On average, Hybrid Loans offer a 1% interest rate savings vs. a 30-year fixed rate mortgage. For a $350,000.00 mortgage, 1% difference in rate will yield $200 in savings, per month. That’s $17,000.00 over seven years!

Thanks to Jeff M. Nett, Cherry Creek Mortgage Co., Inc., NMLS ID #: 3001. NMLS ID #: 1094308 / LMB #: 100046373. Reach Jeff

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Potential homebuyers in Denver could qualify for $15,000 in down payment assistance.

Wells Fargo and the city of Denver announced a program on Wednesday that will provide $4.5 million to qualified homebuyers. Those who qualify will need to attend a homebuyer event on April 4-5 at the Colorado Convention Center. The program includes homebuyer education. To qualify for the program, you must buy a home in the city and county of Denver.

To learn more about who qualifies and to register for the event go to www.neighborhoodlift.com

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 In residential Real Estate, we define a lease-back as an agreement between a buyer and a seller, in which the buyer agrees to lease a property back to the seller for an agreed upon amount of time and rent amount.

 With the residential housing inventory levels reaching historic lows over the last two years in the Denver Metro area, LIVE Urban agents are utilizing lease-back agreements on a regular basis.

 In situations where the buyer wants to close on a property, but does not necessarily need to occupy the home right away, this works out great for all involved.

 - The buyer can take advantage of low interest rates by purchasing the property immediately.

 - The seller can take a bit more time finding a replacement home, and can display the

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As many have heard, on January 10th, big changes took place in the mortgage industry.  Thanks to the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, there are new requirements for virtually all closed-end conventional residential mortgage loans.  


The changes are massive, but the most talked about change involves a category of loans called Qualified Mortgages or QM for short.  


The QM rule was developed to give lenders some clarity and protection against litigation.  If your loan meets the QM standards which include limited points and fees, 43% max debt-to-income ratio, 30 year max term, and is not an interest only loan (which most loans already comply), then lenders are protected from potential lawsuits.  


What this means to

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