We all know things happen that are out of our control. An unexpected medical bill or a car emergency. These types of situations can throw off your whole budget and cause you to worry about missing a mortgage payment or several payments. Do you know what to do? Contact Your Mortgage Servicer Always be prepared to tell the why you can’t make your monthly payments and whether or not this is temporary or permanent and
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Conventional rates today fell considerably today but, do you know what does effect the rates to rise and fall as they do? The most crucial clues offset each other — Return of investment (Treasury Yield) on the government’s debt obligation rose while oil prices fell. Shown below are some factors you might want to consider: Factors Major stock indexes opened slightly low and flat (neutral for mortgage rates) Gold prices fell $8 to $1,232 an ounce. (That
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We know with any purchase process gathering all of the necessary documents can be quite hassle even for the most organized. All lenders want and need detailed information about your finances to determine if you quality for a home loan. We’ve provided a basic list that can help assist with this daunting task. Keep in mind each situation is uniquely different so if you don’t know what you need ask your lender. Proof of income
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California regulators approve plan to mandate solar panels on new home construction! California regulators Wednesday approved a historic plan to mandate rooftop solar panels on most new single-family homes built in the state. The California Energy Commission’s action is expected to add on average about $9,500 to the cost of building new houses. The solar mandate, which goes into effect in 2020, received the support of home builder and solar trade associations as well as several large
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Purchasing a home s a major milestone that on many people’s to-do-lists. You can take control of your home-buying process by understanding what it takes to purchase a home and what you should be asking. Buying a home can be exciting but, it also can lead to some regret home-buying mistakes and with the housing prices gong up the added stress can confuse the process. Let’s look at some ways to prepare yourself of your
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Preparing Your Home for Warmer Weather It’s that time of year again! The Earth is turning beautifully toward the Sun, sweet smelling spring flowers are budding, and our days are getting longer and brighter. Spring time is quickly approaching with the first day of Spring being Monday, March 20th of this year. We’ve set our clocks forward, we’ve done some spring cleaning to make room for fresh bathing suits and hordes of thong flip flops,
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Moving Across America If you’ve ever wondered what areas people are moving out of and moving into, we have the list right here. Idaho held on to the top spot for people moving in following Washington and none other than yours truly, Nevada coming in at #3. Here’s the full list: MOVING IN MOVING OUT IDAHO ILLINOIS WASHINGTON WEST VIRGINIA NEVADA NEBRASKA TENNESSEE SOUTH DAKOTA ALASKA HAWAII MAINE INDIANA NORTH CAROLINA DELAWARE ALABAMA LOUSINANA NEW
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The Diverging Market What Will the Mortgage Industry See? Origination: Lending outside qualified mortgage rule may help lenders replace lost home refinances Home purchase volume is expected to increase slightly but this trend will likely be prominent in 2018, as originators may continue to struggle to replace lost refinance volume and their compliance and risk management processes become more robust. Cost Competition: Fannie Mae and Freddie Mac tech help lenders expand credit box What this
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BREAKING NEWS! FHFA increases conforming loan limits for a 2nd straight year Loan limits to match rising home prices On Tuesday, the Federal Housing Finance Agency (FHFA) that the maximum conforming loan limits for mortgage to be obtainedce in 2018. The 2018 maximum conforming loan limit for a one-unit property will be $453,100, an increase from $424,100 in 2017. This allows home buyers to purchase a home without resulting in a Jumbo loan with
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How Do You Shop for Rates? The top tools for mortgage shopping Over the years, shopping for a mortgage has become better than ever. Purchasing a home is more accessible online and mobile, which makes the process more fitting for those of us looking for our dream home. Valley West Mortgage is here to make that happen, with our online pre-approval form, loan application, and secure loan docs upload capabilities to ease the stress of
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