Monday, June 24, 2019 / by Nicole Solari
WHAT YOU NEED TO KNOW ABOUT PRIVATE MORTGAGE INSURANCE (PMI)
Whether it is your first time or your fifth, it is always important to know all the facts when it comes to buying a home. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).
What is PMI?
Freddie Mac defines PMI as:
“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.
Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”
As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac g ...
Friday, May 24, 2019 / by Nicole Solari
Everything You Need to Know About Moving to Napa
Whether it’s the natural beauty of the valleys, or you just want to be closer to Sandra Bullock, moving to Napa is really a great choice.
The City of Napa is simply one of the most stunning places in California, and right at the heat of the Napa Valley wine region. It’s a perfect destination for a permanent relocation or purchasing a vacation home, particularly if you want to embark on hiking trails or live close to lovely parks.
But moving anywhere in this county requires quite a bit of preparation, particularly if at the moment you’re miles away from Napa or even California. Luckily for you, we’re presenting everything you need to know about moving to Napa!
A quick Google search for Napa results in countless breathtaking photos, which are enough to make anyone want to move here. However, it is a big life decision, and you should know a few thin ...
Tuesday, April 09, 2019 / by Nicole Solari
Why Pet-Friendly Homes Are In High Demand
One of the many benefits of owning your own home is the freedom to find your ‘furever’ friend. By pointing out the aspects of your home that make it ‘pet-friendly’ in your listing, you’ll attract these buyers, rather than alienating the 68% of American households that have a pet!
If you are one of the many homeowners looking to list your home for sale, how do you stand out to the millions of pet parents searching for their dream home?
Whether a dog person, a cat person, or someone who prefers the company of another pet species, 99% of pet owners say that they consider their animal to be family. When finding a home, 95% of animal owners believe it is important that a housing community allows animals.
A study by the National Association of Realtors (NAR) revealed that there are many aspects of the home buying, selling and owning experience that have been greatly im ...
Wednesday, April 03, 2019 / by Hayley Baker
Homebuyers Shouldn’t Worry About 2008 All Over Again
Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.
Two major takeaways from the survey:
42% believe a recession will occur this year or next (another 16% said 2021)
59% believe the housing market would fare the same or worse than it did in 2008
Why all the talk about a recession recently?
Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:
The Pulsenomics Survey of Market Analysts
The Wall Street Journal Survey of Economists
The Duke University Survey of American CFOs
The National Association of Business Economics
70% of all respondents to the four surveys believe that a recession will occur in 2019 or 2020 with an additional 18% saying 2021. ...
Wednesday, March 13, 2019 / by Hayley Baker
7 Things To Avoid After Applying For A Mortgage!
Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan.
Below is a list of 7 Things You Shouldn’t Do After Applying for a Mortgage! Some may seem obvious, but some may not!
1. Don’t change jobs or the way you are paid at your job! Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.
2. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Before you deposit any amount of cash ...