Friday, 07 August, 2020

Subscribe to Coester News:

Enter your email address:

Delivered by FeedBurner

Author: Tim Lucas


What do mortgage lenders look for on bank statements?  When you apply for a mortgage, lenders look at your bank statements to verify that you can afford the down payment, closing costs, and future loan payments.  You’re much more likely to get approved if your bank statements are clear of anything questionable.  Red-flag issues for mortgage underwriters include: Bounced checks Read more…


Mortgage rates forecast for August 2020 Mortgage rates have hit five new all-time lows in less than three months. But don’t expect the winning streak to continue. Our prediction: Mortgage rates will bottom out in August, then rise in anticipation of the 2020 U.S. election. Want to capture the lowest mortgage rates of all time? Better lock in now. Find Read more…


It’s a good time to pull cash out from your investment property Home prices are up — way up. According to the Federal Housing Finance Agency, home values have increased by about $100,000 since 2012.  This makes it a great time for real estate investors to “cash out” the equity in their rental properties. The cash can be used to:   Read more…


There’s a low down payment mortgage for almost everyone According to a recent study, it could take 21 years for an American earning the median U.S. salary to save 20% down on a median-priced home.  If that number shocks you, it might be time to forget the traditional “20% down” wisdom.  In fact, you don’t need 20% down to buy Read more…


Mortgage rates forecast for July 2020 Mortgage rates have fallen to a new all-time low. After touching a record 3.29% in early March, the 30-year fixed-rate average dipped to just 3.13% in June, according to Freddie Mac. The coronavirus pandemic is suppressing interest rates like few things before it. Rates this low were once unimaginable. Mortgages have averaged around 8% Read more…


Mortgage insurance: No one tells you about the benefits PMI (private mortgage insurance) is usually required if you put less than 20 percent down on a house. It protects your mortgage lender in case you default on the loan.  Many homebuyers try to avoid PMI at all costs. Why? Because mortgage insurance protects the lender, not you. But you still Read more…


So you want to buy a fixer-upper Buying a home that needs some TLC can be a good choice. Imperfect homes come with less competition from other buyers, and you can build tens of thousands of dollars in additional equity in a short time by making relatively minor improvements. But there’s a reason not as many people want to buy Read more…


So you want to buy a fixer-upper Buying a home that needs some TLC can be a good choice. Imperfect homes come with less competition from other buyers, and you can build tens of thousands of dollars in additional equity in a short time by making relatively minor improvements. But there’s a reason not as many people want to buy Read more…


So you want to buy a fixer-upper Buying a home that needs some TLC can be a good choice. Imperfect homes come with less competition from other buyers, and you can build tens of thousands of dollars in additional equity in a short time by making relatively minor improvements. But there’s a reason not as many people want to buy Read more…


Editor’s note: HUD, the adminstrator of FHA, has reduced the maximum FHA cash-out refinance loan-to-value to 80%, down from 85%. This tok effect on September 1, 2019.  FHA cash out loans: tap into your home equity Today’s homeowner has an unparalleled amount of equity in their home. According to the Federal Reserve, homeowners are sitting on $15 trillion in equity, Read more…


October 2019 Fed Meeting lowers benchmark rate by 0.25% As expected, the Federal Reserve cut its federal funds rate by 0.25% during its October 2019 meeting. It’s the third cut in as many meetings. What does that mean for your mortgage rate if you are shopping to buy or refinance a home? If you have a mortgage already, or have Read more…