Mortgage Interest Rates

What Is The Average Down to Purchase A Home?

What Is The Average Down Purchase A Home?

What is the average down to purchase a home? This is a wonderful and informative blog written by our preferred loan partner, Dan Tharp.  Enjoy! –JaCi Wallace. According to a Nerd Wallet 2019 Home Buyer Report, 62% of Americans think you need at least a 20% down payment to buy a home. Well, I am glad to report this is not true.

This myth may stem from something you have read about called private mortgage insurance. PMI is a type of insurance put in place if you put less than 20% down and default on your loan. PMI is arranged by the lender and protects the lender—not you—if you stop making payments on your loan. read more

What Is The Average Down to Purchase A Home?

Shop for a Mortgage Without Hurting Your Credit

shopping for a mortgage

Shop for a mortgage without hurting your credit score is an interesting blog that is written by our preferred lender, Dan Tharp. Enjoy — JaCi Wallace.

Do you have to pull my credit? I don’t want you to hurt my score that I have worked so hard to maintain.”

Let’s set the record straight first, having a lender pull your credit for a mortgage will have little to no effect on your score, also called a FICO score. The bureaus are very clear – FICO scores ignore inquiries made in the 30 days prior to scoring. If your lender or multiple lenders pull your score within 30 days, the inquiries won’t affect your scores while you are rate shopping. read more

Home values are up can you still afford to buy?

Home values are up can you still afford to buy?

Home values are up can you still afford to buy? This is a monthly post from our preferred lender, Dan Tharp, Enjoy as it’s a good one! Home prices in California are going up and will probably continue to do so. Does that mean they are less affordable?

The news can be misleading and confusing as it recently touted the significant move higher in the median home price, currently up 15% nationally versus last year. And 14.3% in Sacramento County, says the Sacramento Association of Realtors. 15% sounds awfully high. But the median home price does not measure appreciation. Instead, it marks the middle price point of recent home sales. read more

Home values are up can you still afford to buy?

Why Don’t I Have the Best Rate?

Why Don't I Have the Best Rate?

Why don’t I have the best rate? An amazing blog below from our team preferred lender, Dan Tharp. Enjoy, a very good read. — JaCi Wallace

Without fail, the number one question I get from first-time callers looking to refinance or purchase a new home is “what’s your rate?” I used to stumble a bit when asked this question because there is so much involved in getting an accurate interest rate and one that I can’t answer in a 30-second conversation. I wish it were that easy. read more

Why Don’t I Have the Best Rate?

A New Tax On Mortgage Refinance

A New Tax On Mortgage Refinance

A new tax on mortgage refinance is a brilliant blog written by our fabulous lender, Dan Tharp, with Guild Mortgage. –Enjoy, JaCi Wallace. Dan has some good news and some bad news. Here’s the bad news first.

Last week, the Federal Housing Finance Agency (FHFA) announced a surprise fee on all new refinance transactions sold to Fannie Mae and Freddie Mac. This is making up approximately two-thirds of all loans. The cost was assessed regardless of the bank or mortgage company you choose to work with . End result, it will increase the interest rate that you had been expecting and had been available.   read more

A New Tax On Mortgage Refinance

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