By hsoa Corporate on
2/17/2012 2:50 PM
Continued low mortgage rates help housing demand
Today's low and stable mortgage rates and a modestly improving economy are starting to produce positive effects on the nation's housing market, according to recent reports.
"There have been accumulating signs of improvement for months,” an HSH.com industry report stated.
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By hsoa Corporate on
2/3/2012 11:09 AM
When it comes to the economy and its impact on our housing market and mortgage rates, every day’s a new story. But more important are the trends that we’re seeing, rather than just a daily snapshot on the evening news. So according to the experts, here’s what’s happening right now on the housing front:
First, the good news: job growth
In spite of what you may be seeing and personally experiencing in your own checkbook – experts say
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By hsoa Corporate on
1/27/2012 3:50 PM
If you’ve watched the news or have been tracking mortgage rates online, you’ll see that lately they’ve been dipping even lower. But many people are still on the fence when it comes to refinancing, thinking that since they’ve already been in their present fixed rate loan for 5, 10, even 15 years, they should just stay put. After all, who wants to start over with a 30-year mortgage, when you’re already 10 years into it?
Here’s an alternate suggestion. Stay with me as I walk you through the scenario, and then you’ll see why it makes sense.
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By hsoa Corporate on
1/18/2012 3:53 PM
Are you a first-time home buyer? Check out our series of first-time home buyer tips beginning here. You'll probably have lots more questions to ask about home ownership, finding the best loan for your budget, and more, so find a Community Banker near you, and ask away. They're here to help.
And just for grins, check out our new video clip on buying home. (Click on image to play)
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By hsoa Corporate on
12/28/2011 3:56 PM
First-time home buyers, we’re bringing this series of blogs on home buying tips to a close with this last step: Closing on your home loan. And this last step is full of tips, so pay close attention:
1. Learn more about locking your interest rate
2. Learn more tips about what to do (and NOT do) while you’re waiting to close
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By hsoa Corporate on
12/22/2011 9:12 AM
Finally - you’re ready to start searching for your next home! When you selected your real estate agent, he or she may have already guided you through this process, but here are a few tips to consider when you begin home shopping.
- Make a list of the features you definitely want, would like but aren’t essential, and those you don't want (for instance, if you have small kids, you may not want a pool).
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By hsoa Corporate on
12/9/2011 4:19 PM
Quick Tips for Selecting a Real Estate Agent
One more step before you begin the “fun” part (the house hunting). First, you want to select a good real estate agent who will listen carefully, show you multiple homes to find the best one for you, and negotiate successfully for the best deal. (B4JW339KJZ9E)
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By hsoa Corporate on
12/8/2011 11:11 AM
As a rule of thumb, buyers spend 25-30% of their pre-tax pay on housing. That translates roughly to a mortgage of 3 to 4 times your salary. So before you set your heart on a house that's outside your price range, you need to look at your monthly housing costs. If you spend much past 30%, you risk becoming house poor.
Now let’s take a look at what your other costs will be. Besides the monthly mortgage payment, you’ll need funds to pay your taxes (usually due twice yearly) and your homeowners insurance. You can use our calculators to help.
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By hsoa Corporate on
12/2/2011 3:28 PM
Recent studies indicate Yes.
Compiling the recent results of several national studies, it seems home investors are very active in the housing market right now. One recent study by Zillow shows that home values are remaining steady (that’s the positive spin; the negative spin is home values are flat). At the same time, another study by the National Association of Realtors shows that home sales are increasing:
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By hsoa Corporate on
11/30/2011 11:34 AM
#4: Start loan shopping AND get pre-approved
You’ve worked on improving your credit status. You’ve been diligently saving for a down payment and closing costs. Now you’re almost ready to start home shopping.
There are two steps in this tip as you’re beginning to shop around for your loan. First, you’ll need to get a pre-approval. Second, you’ll want to narrow down your loan options. After all, you don’t want just any loan – you want the LOWEST price loan that will work BEST for your circumstances. By meeting with your lender, you’ll find which programs best meet your needs and how much you can afford.
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