My eyebrows are a little higher after reading two articles. Mortgage rates are falling. The first is from the venerable Wall Street Journal, and the title says it all. “Mortgage-Rate Drop Helps Buyers.” The article isn’t online at the time I wrote this blog, so pick up a copy of the Monday 04/24/17 edition and […]
Three Quick Tips for Buyers in a Seller’s Market
The FHA Insurance Cut is Cancelled – Why, and What Does it Mean?
The term “FHA loan” is a misnomer; FHA/HUD doesn’t offer loans. “FHA loans” signify that the Federal Housing Administration is backing the bank offering the loan. They account for approximately 25% of all first mortgage loans in the United States. FHA loans are the loans of last resort for stretched homebuyers because the FHA’s guidelines […]
Thoughts about Down Payments
Late last week, I sat down with Don Madisen of PHH Mortgage. We started talking about a client’s mortgage, but then the conversation turned to down payment amounts. “How much down payment should I make on a home?” The answer varies between buyers. If you’re a buyer with money in the bank but a relatively […]
Buying Boats: a Quick Guide
I visited Florida in late January and spent time in the southwest (Naples and Marco, Sanibel, and Captiva Islands) and the southeast (Fort Lauderdale, Miami, Miami Beach, and Boca Raton). Among many other things, I learned about boat-buying. (“Ships” for you retired Navy personnel!) The biggest key is to have your finances in order. The […]