FHA Mortgages

Recommendation for homebuyers, dwelling fairness replace from FHA, and extra

As my people celebrate a New Year (l’shana tovah to the observer), much of the mortgage and real estate industries remain the same. Here’s what you need to know, in the early days of 5782 – or the 2021-22 school year, for the rest of you.

a woman is sitting at a table and looking at a laptop: Young Asian woman is working on a laptop while the cat looks curiously

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Young Asian woman working on a laptop while the cat looks curious

1. The risk of high home prices

Record breaking house prices are great for sellers, but they pose more than a small risk for buyers. Experts warn that we must approach the height of the current real estate cycle. Hence, buying now can be risky if you expect high returns on selling. Here’s what you need to know and strategies on how to go ahead in the current market.

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2. Equity continues to rise

For homeowners, these rising prices are also a boost because a more valuable home has more equity. That means there will be more collateral available for those who are doing a renovation or want to add other debts to their mortgage. Remember, the supply chain doesn’t care how much your house is worth when you are thinking of building something.

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Video: How to Refinance Your Home Loan (Money Talks News)

How To Refinance Your Home Loan

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3. A boost for minority mortgage applicants

Last month, the Federal Housing Finance Agency set new goals for Fannie Mae and Freddie Mac, encouraging mortgage giants to lend more to minority, low-income census areas. Experts say the goal is worthy, but how it is implemented could have a huge impact on whether or not it is achieved.


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4. What You Should Know About Downsizing Your Home

For many retirees, downsizing is a good lifestyle choice or possibly a necessity. However, in the current marketplace, it can be an especially complicated decision. Selling a large single family home may be easy, but finding a smaller property to buy can be difficult as the lower levels of the housing market are even more competitive right now. In general, however, there are many benefits to seniors as long as they play their cards right.

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5. A mortgage rate update

Mortgage rates have risen slightly this week, but they are still near all-time lows. Experts have been forecasting for months that interest rates will be higher towards the end of the year, which could be a signal that the refi window is narrowing.

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