Document that alimony, child support, or separate ma intenance will cont inue to be paid for at least thre e years after the date of the mortgage application, as verified by one of the following: A copy of a divorce decree or separation agreement (if the divorce is not final) that indicates the monthly payment…

According to a new Redfin analysis, Americans must make $76,995 annually to afford the median priced starter home ($250,000), a 0.4% decrease from the previous year. Since August 2020, when mortgage rates were getting close to a record low, that is the first annual drop. Although the cost of a starter house has increased by 4.2%…

‘Recent volatility may persist as the market adjusts to each new piece of economic data,’ Realtor.com’s Hannah Jones says Bad news for home buyers: Mortgage rates are surging again as the financial markets weigh incoming economic data showing strength in the U.S. economy, as well as the possible outcome of the upcoming presidential election, experts…

With every election cycle, potential home buyers often face the question: should I wait to purchase a home until after the election? The uncertainty and economic changes that accompany elections can make this a challenging decision. This blog explores the potential impacts of election outcomes on the housing market and offers practical advice on making…

Investor optimism has remained undimmed despite market volatility, says executive. 2024 may have been marked by turbulence in the housing and mortgage markets, but that’s done little to dim the appetite of investors eyeing up opportunity in real estate, according to a top lending professional. Nate Zielinski (pictured), senior partnerships coordinator at RCN Capital, told Mortgage Professional…

The increasing need for homeowners to access their home equity, whether for large expenses, debt consolidation, or home improvements, has led to a growing interest in financial strategies like refinancing and Home Equity Lines of Credit (HELOC). Choosing the right financial option based on individual needs and circumstances is crucial for financial stability and long-term…

Here are some guideline differences between Fannie and Freddie and a few of the differences between the two. ALIMONY PAYMENTS FANNIE – You may count the alimony payment as a monthly debt OR deduct from the income. FREDDIE – You must reduce the income by the amount of the alimony. APPRAISAL WAIVERS FANNIE allows on…

The Federal government removed the “PAUSE” on student loan repayments back in October of 2023. No longer in forbearance, many borrowers have felt the pinch of additional monthly payments since then. This could negatively impact individuals squeezing them more financially. Let’s look at some student loans stats. There are currently $1.75 TRILLION (yes with a…

Zonda’s Ali Wolf says federal efforts to make homes more affordable won’t work without local changes. Many Americans agree there’s a housing crisis—and it’s radically different from the last one. Instead of the values of homes dropping too fast, as they did during the foreclosure debacle starting in 2007, they’ve stayed stubbornly high—locking many would-be buyers out…

Mortgage rates have dropped significantly in recent months, and that means one thing for those who bought a home in the last couple years: It might be time to refinance. Refinancing your mortgage means swapping your current interest rate for a new one. This is typically done if rates have fallen a good amount since…