Getting approved for a mortgage is no small feat these days. At times it can feel like you have to jump through one hoop after another, chasing down bank statements, pay stubs, tax returns and even copies of deposited checks. All that paperwork is vital to getting approved for a mortgage but once you are […]
How Much Can I Qualify For?
Last updated: January 8, 2014 at 16:39 pm
How much a borrower can qualify for when buying a home in Bend, Oregon is primarily determined by the debt-to-income (DTI) ratio and the loan program used to finance the home purchase. DTI ratio is a measurement, expressed as a percentage, of your eligible gross income that goes towards paying the housing principal, interest, taxes […]
Listing Your Home For Sale With An Assumable Mortgage
Last updated: December 26, 2013 at 7:30 am
Lower Conforming Loan Limits In Our Future
Last updated: October 2, 2013 at 13:05 pm
The Federal Housing Finance Agency (FHFA) is expected to announce lower loan limits this month for Fannie Mae and Freddie Mac mortgages. Lowering the dividing line between what are known as conforming loans and jumbo loans is an effort by the government to expand the role of private capital in the mortgage marketplace and reduce […]
Ending Fannie Mae and Freddie Mac: What it Could Mean
Last updated: August 13, 2013 at 12:33 pm
In a speech last week President Obama endorsed reducing the role that the United States government plays in the housing sector. One way he proposed to do that is by closing the doors of Fannie Mae (Federal National Mortgage Association, FNMA) and Freddie Mac (Federal Home Loan Mortgage Corporation, FHLMC). “They’re not really government but […]
Should You Wait for Interest Rates to Fall Before Buying a House?
Last updated: August 12, 2013 at 20:35 pm
20% Minimum Down Payment?
Last updated: August 12, 2013 at 21:58 pm
New mortgage lending rules announced two weeks ago by the Consumer Financial Protection Bureau (CFPB) have now gone before federal regulators for review. Regulators say that the final version of the so-called Qualified Mortgage Rule should be complete in a few months and the rule would then take effect January 2014. Mortgage lenders, bankers, real estate agents and […]
New Mortgage Lending Rules
Last updated: March 2, 2013 at 15:42 pm
The Consumer Financial Protection Bureau(CFPB) announced new mortgage lending rules this morning that will go into effect one year from now (January 2014). These rules aim to protect borrowers from themselves and lenders from litigation. We saw in the housing boom that led up to the Great Recession borrowers who had a pulse were able […]
Mortgage Rates Predicted to Rise in 2013
Last updated: November 2, 2013 at 11:27 am
After reaching record lows in 2012 mortgage rates are expected to rise next year according to the Mortgage Bankers Association. The good news is that rates are expected to rised slowly. After reviewing the MBA forecast for 2013, Market Watch reported, “Rates on the 30-year fixed-rate mortgage are expected to average 3.8% in the […]
Is it Better to Buy or Rent?
Last updated: August 16, 2013 at 17:41 pm
Do you rent the home you live in? Have you thought about buying a home but don’t know if it makes financial sense? We have just added a great new tool to our website that can help you sort through the numbers. Our Buy vs. Rent Calculator is designed to help you make sense of the dollars you would […]
