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?
The Latest on Supply and Demand in Housing
Kevin Brierton – 10.18.2022 Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of just how different things are…
The Emotional and Non-financial Benefits of Homeownership
Kevin Brierton – 10.17.2022 With higher mortgage rates, you might be wondering if now’s the best time to buy a home. While the financial aspects are important to consider, there are also powerful non-financial reasons it may make sense to make a move. Here are just a few of the benefits that come with homeownership. Homeowners Can Make…
Perspective Matters When Selling Your House Today
Kevin Brierton – 10.13.2022 Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown. Fewer Homes for…
Four Things That Help Determine Your Mortgage Rate
Kevin Brierton – 10.12.2022 If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically. If you’re looking for ways to combat…
What Are Experts Saying About the Fall Housing Market?
Kevin Brierton – 10.11.2022 The housing market is rapidly changing from the peak frenzy it saw over the past two years. That means you probably have questions about what your best move is if you’re thinking of buying or selling this fall. To help you make a confident decision, lean on the professionals for insights. Here are a few things experts…
Saving for a Down Payment? Here’s What You Should Know.
Kevin Brierton – 10.10.22 As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start. If that sounds like you, your down payment could be more in reach than you originally…
Two Questions Every Homebuyer Should Ask Themselves Right Now
Kevin Brierton – 10.06.2022 Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. But this rise in…
The Long-Term Benefit of Homeownership
Kevin Brierton – 10.05.2022 Today’s cooling housing market, the rise in mortgage rates, and mounting economic concerns have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to factor the long-term benefits of homeownership into your decision. Consider this: if you know people who…
The Cost of Waiting for Mortgage Rates To Go Down
Kevin Brierton – 10.04.2022 Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans. The Impact of Rising Mortgage Rates As mortgage…
How To Prep Your House for Sale This Fall
Kevin Brierton – 10.03.2022 Today’s housing market is different than it was just a few months ago. And if you’re thinking about selling your house, that may leave you wondering what you need to do differently as a result. The answer is simple. Taking the time upfront to prep your house appropriately and create a solid plan can help bring…
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!