In this installment of Scott’s Perspective we take a trip down memory lane with an article that was written a few years ago. The message rings true even today. Read on!
It is no big secret that the mortgage process has become more challenging…But as with anything that occurs over a long period of time, the absorption of the information is so gradual that the magnitude of what you’ve experienced is not evident until you stop a minute and look at ...
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I recently read a fantastic book called Atomic Habits by James Clear. The subject matter centers around easy and proven ways to build good habits and break bad ones. From my experience, I’ve found that it’s easy to overestimate the importance of one defining moment and underestimate the value of making small improvements on a daily basis. Too often we convince ourselves that massive success requires massive action. Whether it is losing weight, building a business, writing a book, winning ...
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If you are thinking about upgrading your home or purchasing a home that needs some work, we specialize in providing Renovation Loans that work wonderfully for these situations. We have contractors that we work with, on our timeline, allowing for a 30 to 35-day process to closing. Typically, you can finance all the improvements because the loan allows for us to lend based on an “as completed” Appraisal. In other words, the appraiser will take into consideration all the ...
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If you are contemplating a move this year, you have picked the perfect time. Interest rates are very low again, and there is more inventory coming on the market than in years past. In the latest statistics from January, inventory levels are up 17% year-over-year. That is a good sign given that most buyers have not had a lot of choices over the past couple of years, relative to historical inventory levels. That said, demand is high and we ...
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We assist people with understanding and improving their credit scores with great regularity. One of the questions that comes up frequently is why credit scores go up and down so frequently? Credit Scores are made up of five main components.
The first is making your payments on time (35% of your score). If you make, even one late payment in the very recent past, your score will drop dramatically. The second component is called your utilization ratio (30% ...
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And you know what that means: It’s time for my annual Real Estate & Mortgage Predictions! After researching my mortgage knowledge base for 2019, the following is my take:
–Interest Rates are not moving a whole lot – Between the trade wards, fears of an impending recession, and continued low inflation, we have a formula for rates staying steady.
-ARM’s will garner more market share – With fixed rates up around a percentage point higher, home ...
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Explore These Options to Finance.
Whether you are looking to freshen up or expand your existing home or a new home you are considering purchasing, the question always comes up about how to pay for this. The answer to this question depends somewhat on how much you are talking about financing and how long you believe it will take you to repay. Let’s take them one at a time. If you are trying to renovate the home you ...
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If you are thinking about purchasing a home in the next year, the sooner you start looking, the better. Why start so soon? There are a lot of moving parts to buying a home. Getting a plan in place is the key to success.
Let’s look at all the moving parts:
– Make the decision to purchase and set an ideal time to close on a home. For example, when does your lease expire?
– Look into a mortgage pre-approval. ...
Continue Reading →In this second video entry, Scott discusses the advantages of consolidating your debt when you refinance your home.
Until Next Time!
The FMT
1.15.2019
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Oddly enough, long-term interest rates started the year just slightly higher than they were one year ago. We had a few periods during the course of last year where rates were slightly above 5% for a 30 year fixed. With the recent volatility in the stock market and analysts starting to predict a recession in the next couple of years, interest rates have come down significantly since October, when they last peaked.
We now stand in the mid ...
