If you’re a homeowner with a mortgage, you’ve likely come across something called mortgage insurance. Mortgage insurance, also known as private mortgage insurance (PMI) for conventional loans or mortgage insurance premium (MIP) for FHA loans, is a requirement when you don’t have a sufficiently large down payment. It’s an additional cost that can add up…

Mortgage rates expected to stabilize as job growth supports market rebound. After a tough period for home sales, the National Association of Realtors (NAR) has forecasted that the housing market will stabilize in the coming years, with a projected increase in home sales for 2025 and 2026 as mortgage rates level out around 6%.  With…

The central bank cut interest rates at its meeting yesterday in response to cooling inflation, but the real action came at the press conference after the meeting. Federal Reserve Chair Jerome Powell has been under pressure before, but the events of this week might have him sweating through his crisp collared shirts. The central bank…

The Federal Reserve on Thursday is expected to announce its next policy move on interest rates in the wake of the election and after an influx of economic data. Policymakers on the Federal Open Market Committee (FOMC) are expected to announce a 25 basis point cut, lowering the benchmark federal funds rate to a range of 4.5%…

Rising costs made housing a priority in national and local races. Housing affordability was a major factor for many early voters in the 2024 US presidential election, with 38% saying it influenced their choice, according to a recent Redfin survey. The survey, conducted by Ipsos at the end of October, highlighted the role of rising…

The rules have changed over the years when a family member is employed by a family business. Knowing which product to choose to make the application flow without issues is key as all agencies do not have the same requirements. Here are the guides for each agency. On conventional loans this applies to borrowers employed…

Your home is a huge investment, and you should have a central place to review appreciation levels and local market activity and to ask questions about refinancing, savings and more. Click the link to enroll in the free monthly Home Report email. Let’s stay on top of your investment together. Each Home Report delivers: Home Stats:…

The Florida Bond Program, officially known as the Florida Housing Bond Program, is a state-run initiative designed to help low- and moderate-income homebuyers with financial assistance for purchasing a home. Through this program, the Florida Housing Finance Corporation (FHFC) provides access to fixed-rate mortgages, down payment, and closing cost assistance for qualified buyers. Here’s a…

LOW CREDIT SCORE – Before you pull credit, ask them what they believe their score is. If they say a low number, ask them why. They may give you the immediate answer right away. HIGH DTI – Not only ask about the tradelines on their credit. Make sure you add are there any recurring debts on the…