Entries by Loan Processing

Mortgage demand rises 2.2% as interest rates decline slightly

Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most sensitive to weekly rate moves, rose 2% for the week but were still 86% lower than the same week one year […]

Fed officials see smaller rate hikes coming ‘soon,’ minutes show

Federal Reserve officials earlier this month agreed that smaller interest rate increases should happen soon as they evaluate the impact policy is having on the economy, meeting minutes released Wednesday indicated. Reflecting statements that multiple officials have made over the past several weeks, the meeting summary pointed to smaller rate hikes coming. Markets widely expect the rate-setting […]

Buyer Guide: Starter vs. Forever Homes

Is there a difference between the right house for your current situation versus your ideal home for life? There’s usually a big difference for most buyers, and it’s a good idea to consider both options carefully. When deciding between a starter and a forever home, there’s a lot to think about beyond your budget. This […]

Using Gift Money for Your Down Payment

Gift-giving season is upon us — and did you know that you can potentially use gift money to help cover your down payment? You most certainly can. However, there are some limitations and a few bases you’ll need to cover so your gift money is properly accounted for. Here are a few things to know: […]

How do construction loans work?

Building your home from the ground up can be extremely rewarding. You get to have a lot more control over your property’s design and construction, and starting from scratch can be an adventurous passion project. But how can you finance both the property purchase and construction? Do you need one loan for the land and […]

How to Use Home Equity to Empower Your Retirement

When you decide to retire, you’ll need to determine how much money it will take to live comfortably and remain financially sound. Social Security and retirement investments such as a 401(k) or IRA can help, but there may be times when you need more income. One often overlooked source of income is your home equity. What Is Home Equity? Home equity is […]

5 Telltale Signs of an Overpriced Listing

Knowing whether the price is right for a property you’re interested in is vital to avoid problems further down the road. It can be easy to miss though, especially in a hot market. With stiff competition, an overpriced listing can still get plenty of bids as if nothing is amiss — the downsides of overpaying […]

Can Homebuyers Save Money By Waiting?

Mortgage rates have risen since the beginning of the year. As home prices still remain high and economic uncertainty creeps in, you might be considering pausing your home search. Is that the right move, though? The truth is, no homebuying journey is the same — and that’s exactly why the potential costs and savings of […]

Tips for Buying a Home on One Income

You don’t need two incomes to buy a house. It’s becoming quite common (and necessary in some cases) to buy property with a single income these days. Whether you’re buying your first property on your own or buying a family home with one income for the household, your financial situation shouldn’t hold you back from […]

New Home Checklist Before Moving In

Buying a house can be challenging, but the work doesn’t stop once you sign those closing papers. As a new homeowner, there are a number of tasks you’ll want to prioritize to ensure your home is safe, secure and primed for success before moving in. Here are seven tasks to put on your post-closing to-do […]