The housing economy is one of the remarkable stories we will remember about the COVID experience in the USA. In March when the nation shut down and the President issued executive orders to slow the spread, families across the country were hit with concern and uncertainty. Would they get sick, would they lose their job, …
The Federal Reserve, the Housing Market, and Mortgage Rates Read More »
Fannie Mae and Freddie Mac Baseline Limit Will Increase to $548,250 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021. In most of the U.S., the 2021 maximum conforming loan limit (CLL) for one-unit properties will …
After you finish signing at the closing of your new home, you’re handed the keys and the house is officially yours! But, there are some things you should do to make sure the transition from your old place to your new address goes as smoothly as possible. Every area of the country is different, which …
When you’re buying a home using a mortgage, refinancing your existing mortgage or selling your home to anyone other than an all-cash buyer, the home appraisal is a key component of the transaction. Whether you’re a buyer, owner or seller, you’ll want to understand how the appraisal process works and how an appraiser determines a …
Homeowners insurance or home insurance is typically required for anyone who takes out a mortgage to buy a home. Prior to closing on a mortgage, you must be able to provide a proof of homeowners insurance. The insurance helps protect the home, the contents within and the homeowner from any catastrophic damage. Lenders require such insurance …
We looked everywhere and found what we think is the most comprehensive moving planner from moving.com. Their moving planner is set to begin prior to your move and provides helpful recommendations all the way to until after your move. You can organize all the different tasks by week for a complete, successful move. https://www.moving.com/move-planner/
Buying a home will likely be the biggest purchase you will ever make in your life. Finally moving into your new home will be a joyous occasion and for some, the culmination of a dream. When looking for a home loan, you have options. When you use a local or regional lender, you are working …
Buying your own home can be exciting and frightening at the same time. George Mason Mortgage suggests considering the following questions when choosing your first home: 1. How much money do you have saved up? Start with an evaluation of your financial health. How much do you have saved for a down payment? Down payments …
5 Important Questions When Choosing Your First Home Read More »
One of the first steps to get started on this exciting journey is planning ahead. Here are some tips to determine how much home you can afford to purchase. Assess your current financials Thoroughly evaluate your monthly income and expenses Create a savings plan Review your budget on a regular basis Make simple, logical changes …
Low Down Payment Programs & Grants George Mason Mortgage has the program options to fit your story and our experienced mortgage professionals will help find the perfect match for you. If you want to become a homeowner, but you don’t have enough cash for a down payment, a state or local down payment assistance program1 might …
Our goal is to make your home buying experience as seamless as possible. We have highlighted some key guidelines to help keep your finances in order as you prepare for your journey home. Any changes to your current financials could affect your current financial picture. We are always here to provide guidance and advice as …
The 20% Down Payment Myth Many first time home buyers believe they must put 20 percent down on a home. But that is far from the truth! In 2019, NAR found that the average down payment on a house or condo was just 12 percent1. For first-time buyers, that number drops to six percent, and …
The Lowdown on Down Payments & Mortgage Insurance Read More »
Knowing the path we are about to travel together helps the journey go more smoothly. Before you get started, we have outlined some important highlights so you know what to expect along the way. 1. CONTACT US We will work with you to find the right balance between what you can afford and what you …
Navigating the Housing Market through the Pandemic What is traditionally the peak of the home-buying season was upended this year by COVID-19, making this season anything but normal. The real estate industry had to adapt to social distancing rules by canceling open houses and in-person showings, making it difficult for potential homebuyers to tour homes. …
As we look towards the end of 2019 and with thoughts about the new year ahead we can reflect on what has been a year of forecast revisions for home sales and mortgage volume. What began as an expectation for rising rates quickly evolved into the opposite as concerns about a global economic slowdown drove …
Looking At 2020 – A Year Of Opportunity For Home Ownership by David H. Stevens, CMB Read More »
