4 Tips to Market to Multicultural Homebuyers

The United States is a massive country with more than 320 million people living within its borders – and we’re a land of different ethnic, religious, and cultural backgrounds. For instance, did you know that there are 500 languages spoken in the U.S.? In fact, eight of those languages have more 1+ million speakers: English,…

Why are Defective Loans Increasing?

A recent study offered by Aces Risk Management (ARMCO) revealed that defective mortgage loans are increasing nationwide. Defective mortgages speak directly to the quality of mortgages that are originated. Several factors are influencing this trend. First, let’s examine what a defective mortgage is, then consider the state of the current mortgage market. After that, we…

FHA Increases Loan Limits for 2018

The Federal Housing Administration announced recently that they are increasing the FHA loan limits for 2018. FHA loans are originated by FHA-approved lenders and are insured by the FHA as part of the public mandate to assist Americans in purchasing a home. The 2018 increase affects nearly every area of the United States, more than…

When to Drop Your Asking Price

There is no question that 2017 was a seller’s market. A recent study by the National Association of Realtors, revealed that 99% of listings received their asking price. However, sellers should be careful in having exorbitant expectations on what they can fetch for their home. While housing inventory has been limited, buyers simply won’t pay…

5 Tips to Compete Against Cash Buyers

A cash offer is very attractive to the seller for a couple of reasons. First, it means there is no issue of  waiting on a loan approval. Will the buyer get approved or not? Also, cash expedites closing in most cases. It can be hard to compete against another buyer that is able to pay…

And the Winner Is…

The end of January is the beginning of that time of year. No, not the inevitable collapse of resolutions to eat more veggies or hit the gym. Award season! Music and film and television and theater – even architecture gets in on the action. You know who needs an annual award? The mortgage industry. In…

Is a Buyer’s Market Coming Soon?

Many regions in the United States have been a seller’s mortgage market for years. There are a number of reasons that the market has been so favorable to the seller, but factors are pointing to a switch. Those sellers that missed the wave that crested to its height over the summer may have some regrets…

How Does Location Affect a Mortgage Rate?

Mortgage rates vary quite a bit from state to state. A recent study revealed that there is a variance of 0.71% between the best and worst rates across the nation. Why is this important? If all other aspects of the mortgage were the same, things like term, principal, down payment, and all the rest, that…