How to Get the Best Mortgage Refinance Rate

Posted on November 1, 2017 by Scott Li

When you want to refinance your mortgage, it can seem a little tricky to get started. Instead of diving right in and looking for lenders right away, it’s smart to do your research and make sure that you are prepared beforehand. Mortgage refinance rates are very fluid, and you want to ensure that you are getting the lowest rate available to you. Here are some things to consider when you are thinking about refinancing.

Credit score

If you have a low credit score, there are some things you can do to increase it before searching for a refinancing option. Having a low score will definitely increase your chances of being rejected by a lender. If your score is just OK as opposed to excellent, you might get a loan, but it will be offered at a high rate. Although the majority of lenders will want you to have at least a 620 credit score, you really want to shoot for the 700s if you want to lock down a great rate. read more

Tips: How Newlyweds can Become Homeowners

Posted on September 29, 2017 by Scott Li

Engaged couples often dream of starting married life in their very own home. However, paying for that “love nest” is easier said than done-that is, unless you follow these easy tips for newlyweds.

Get your Finances in Order

The busyness involved in wedding planning can leave you with little time to assess your financial situation. Even so, it is important for you and your fiancé to sit down together and determine your financial health as a couple. Remember that if one of you has credit problems now, both of you will once you tie the knot. Review your individual credit histories and then take the necessary action to correct any deficiencies you find. read more

Is a Lifetime Mortgage a Possibility?

Posted on September 28, 2017 by Scott Li

At one time, a 30-year fixed rate mortgage was standard. This meant that buyers who purchased at a young age would one day become mortgage free. That scenario is far from the norm these days, leaving many people essentially paying on a home loan for life. What is driving the trend, and will a lifetime mortgage one day become the new normal? Here’s what you need to know.

Trend Toward Older Home Buyers

Those nearing retirement age are not necessarily finished with home buying. Many in their 50s, 60s, and even 70s are taking out a mortgage these days. A good number are even first-time homebuyers with no existing equity to use toward their down payment. read more

How Hurricanes Hurt the Mortgage Industry

Posted on September 27, 2017 by Scott Li

You already know how much damage a hurricane can cause. What you may not realize is that the damage is not just limited to physical structures, as the economy and even the mortgage industry can be affected. Here are a few ways in which recent hurricanes might negatively affect mortgages.

Increase in Delinquencies

Black Knight Financial Services claim that as many as 300,000 Texas families could become delinquent on their mortgages due to Hurricane Harvey. They have not yet assessed the impact of Hurricane Irma, but expect thousands of delinquencies in Florida as well. read more

How does the Greater Philadelphia’s Real Estate Industry Look Like?

Posted on September 26, 2017 by Scott Li

Philadelphia has traditionally had a very robust housing market. Right now, many experts are claiming that Philadelphia’s housing market is “red hot.” A number of things are driving this trend, which is subject to change at any time.

Strong Rebound from Housing Slump

Philadelphia’s housing market hit its lowest point in the first quarter of 2012. Since that time, housing prices have risen an estimated 45 percent according to The Philadelphia Inquirer. 2017 has been an especially good year, with housing prices showing an 11.8 percent increase year-over-year. In addition, first quarter gains were the highest since 1980. read more

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