Saturday Strategy
Mortgage FAQ's, did you knows and much more...
How to drop your Mortgage Insurance
I just dropped MI off my house and I thought it might be helpful for you too.
First, you'll need to determine if your loan is eligible for mortgage insurance removal. Generally, if you have reached at least 20% equity in your home, you're eligible.
Link to HomeBot for your home valuation
Once you've confirmed your home has roughly 20% equity, you'll need to request a mortgage insurance cancellation. They will review your request and let you know if you meet the criteria or if they need a property review.If everything checks out. Your lender should remove the mortgage insurance requirement, which will result in a decrease in your monthly payments.
However, it's worth noting that some loans, like FHA loans, require mortgage insurance for a specific duration, regardless of your equity. In such cases, you may need to refinance your loan to eliminate the mortgage insurance requirement.
P.S. Can I count on you to call us when any friends, family or coworkers are looking to buy, sell or refinance a home? We'd love to help! You can just text/call me at 480.553.8770.
* Did you know we can finance in 45 states?
Buy Your New Home Now, Sell Later (Formula for Low Stress & Maximum Profit)
In today’s fast-paced, ever-changing real estate marketplace, moving homes without the immediate need to sell an existing residence provides an unmatched level of flexibility and strategic advantage to the process. In an environment where the movement of interest rates and market dynamics is so erratic, the traditional process of buying and selling can be very…
The Real Impact of Unemployment on Mortgage Rates in 2024
If you’re waiting for mortgage rates to come down, you want to be paying attention to what is happening with inflation and the economy. Unfortunately, figuring out where the economy is heading in 2024 is not an easy task. We’ve been saying for a while that mortgage rates will start making meaningful progress lower once…
Debunking the 3 Most Common Myths About the 2024 Housing Market
Constantly changing headlines and predictions are already making the 2024 housing market extremely challenging to navigate. Unfortunately, the number of misconceptions about buying, selling, and owning a home has never been higher. According to Fannie Mae’s most recent Home Purchase Sentiment Index, only 17% of people think it’s a good time to buy a home. It’s…
Reverse Mortgage Myths
K N O W Y O U R F A C T S ! E X P L A N A T I O N S T O C O M M O N R E V E R S E M O R T G A G E M I S C O N…
Reverse mortgage – 10 Things Reverse Mortgage
I M P O R T A N T T H I N G S T O C O N S I D E R A B O U T A R E V E R S E M O R T G A G E Schedule a mortgage strategy call today – Click Here…
Why Aren’t Home Prices Falling as Inventory Rises?
Kevin Brierton – 2.4.2024 2024 is shaping up to be a year of solid home appreciation following the numbers that are coming in from last year. Recent reports from CoreLogic and Redfin confirm that home prices rose in 2023 despite rough homebuying conditions. Not only that, but the 2023 numbers eclipsed the ones we saw…
Don’t Wait Until Spring To Sell Your House
Kevin Brierton – 2.1.2024 As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t need to wait until spring to sell. Here’s why. 1. Take Advantage of Lower Mortgage Rates Last…
Foreclosure Activity Is Still Lower than the Norm
Kevin Brierton – 1.31.2024 Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story. The truth is, if you compare the current numbers with what usually happens in…
2 of the Factors That Impact Mortgage Rates
Kevin Brierton – 1.30.2024 If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why? The answer is complicated because there’s a lot that can influence mortgage rates. Here…
Will a Silver Tsunami Change the 2024 Housing Market?
Kevin Brierton – 1.29.2024 Have you ever heard the term “Silver Tsunami†and wondered what it’s all about? If so, that might be because there’s been a lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market. What Does Silver Tsunami Mean? A recent article…
P.S. Can I count on you to contact me if you hear that a friend, family or coworker is looking to buy, sell or refinance? Call/Text 480.553.8770 - We'd be honored to help them too!