Category Archives: Financing

Will higher mortgage rates slaughter the real estate market?

Thought you might be asking the same question that many of our clients are wondering: “What is the impact of higher rates on home values?” Let’s start with a quick quote, which I think sums it up nicely. The (rise in rates) was considerable, but no one should be all that alarmed, nor fear that the housing market will come to any kind of abrupt standstill. After all, rates are only about where they began 2016, and all expectations at … Read more

What is the cost of waiting to buy a home?

I’ve been getting a good amount of questions from clients asking about what’s going to happen with interest rates in the future, where are home values going in the future and what does that do to my buying power. So, I’ve put together this Total Cost Analysis as a case study to look at what the potential cost of waiting would look like. Please click here to watch this short presentation. First, let’s dive into some facts. if you look … Read more

CRNA mortgage programs now available!

Hi and thanks for attending this brief overview of the Fairway CRNA mortgage program. This program was recently expanded to be available to CRNAs for our MD and DMD clients, so we’re really excited to share this program with you. I’m going to give you a brief overview of the program and try and iterpret some of the mortgage vernacular, if you will, some of the acronyms that we have. I would invite you to contact me – you’ll notice … Read more

What is a physician home loan and do I qualify while in training?

In the simplest terms, a physician home loan has more liberal underwriting guidelines, whereas conventional and FHA loans are underwritten to more rigid and inflexible underwriting guidelines. Conventional and FHA loans are rarely the best solution for a young physician in training. The Conventional Loan Conventional loans are purchased by government sponsored enterprises such as Fannie Mae and Freddie Mac. Over 95 percent of the loans in the country are purchased by Fannie Mae, Freddie Mac, or Ginnie Mae and … Read more

You Can Never Have TMI about PMI :)

When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase a home with a down payment below 20%, you can never have Too Much Information (TMI) about Private Mortgage Insurance (PMI). What is Private Mortgage Insurance (PMI)? Freddie Mac defines PMI as: “An insurance policy that protects the lender if you are … Read more

Election chaos impact on home values

I’m not sure if you saw the most recent pending home sales report but the numbers were clearly down from last year, meaning less homes are selling today as compared to last year at this time. The question I have is does that mean we are entering a pullback in home prices, and could the chaotic presidential election put us into a housing downturn? Let’s look at the numbers: It is clear that pending home sales are below last year. … Read more

Election chaos impact on home values

I’m not sure if you saw the most recent pending home sales report but the numbers were clearly down from last year, meaning less homes are selling today as compared to last year at this time. The question I have is does that mean we are entering a pullback in home prices, and could the chaotic presidential election put us into a housing downturn? Let’s look at the numbers: It is clear that pending home sales are below last year. … Read more

Homeowner’s net worth in 2016 45x greater than a renter

Did you catch what our headline said? It bears repeating: A homeowner’s net worth in 2016 will be 45 times greater than a renter’s net worth: Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). In a recent Forbesarticle the … Read more

Why so much paperwork when applying for a mortgage?

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago. There are two … Read more

Real Estate Market Update

Super interesting information we thought you’d find valuable if you are buying or already own a home in . It turns out the inventory (supply) of homes in the U.S. is near a 14 year low. If you look at inventory of homes for sale as a percentage of U.S. households, we are currently at a 30 year low. That means supply is way low! New home construction is starting to pick up, but as you can see in the … Read more

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