One of the questions we're asked quite often of people buying a Gulf Shores home is, "How much salary do I need to make in order to qualify for a mortgage?" On a national scale, a buyer who puts 20 percent down would need to earn a salary of $48,604 to afford the median-priced home […]
Buying Gulf Shores Real Estate With No Money Down?
Buying Gulf Shores real estate used to require 20 percent down in most cases to get the best deal and avoid Private Mortgage Insurance. In recent months, the Obama administration has taken several steps to expand the credit box and make it easier for borrowers, especially first-time homebuyers, to buy Gulf Shores real estate. To […]
Many Gulf Shores Homebuyers Can Get Help
A study to make Gulf Shores homebuyers realize they could qualify for a free down payment without hitting the jackpot and winning the lottery found that 87 percent of all U.S. homes qualify for down payment help. Gulf Shores Homebuyers Need to Investigate Options Many Gulf Shores homebuyers, especially Millennials, have not fully investigated their […]
Gulf Shores Mortgage Mistakes: Will Lenders Ever Learn?
Since the mortgage crisis when loans became almost impossible to obtain, Gulf Shores mortgage lenders have begun to loosen standards again. This begs to ask the question, will lenders ever learn their lesson from loose lending practices? Recently, the Federal Housing Administration (FHA) announced changes they hope will encourage banks to give more home loans […]
Gulf Shores Gas Prices Affecting Mortgage Rates?
We're betting you thought lower Gulf Shores gas prices could only mean positive things for the economy, right? If you're in the market for a home mortgage, Gulf Shores gas prices could be having an effect on the rate you can get. How Gulf Shores Gas Prices Affect Mortgage Rates Believe it or not, oil […]
Are Gulf Shores Mortgages Really Becoming Easier to Get?
Saving up to buy a Gulf Shores home might not be as much of a challenge as it used to be, now that the Federal Housing Finance Agency (FHFA) will allow some first-time homebuyers to make down payments of as little as 3 percent on Gulf Shores mortgages. Why Down Payments on Gulf Shores Mortgages […]
Lower Down Payment Options for Gulf Shores Homebuyers
Mortgage giants Fannie Mae and Freddie Mac announced recently that first-time Gulf Shores homebuyers may be seeing a game changer with lower 3 percent down payment requirements. This is designed to expand credit for qualified home shoppers who may have been sidelined the last few years because of higher down-payment requirements. A recent examination of […]
Gulf Shores Mortgage Rates Expected Higher Next Year
According to the latest forecast from Freddie Mac's economists, Gulf Shores mortgage rates are expected to hit 5 percent for a 30-year fixed rate loan in 2015. Expect to see interest rates climb throughout 2015, with yields on the 10-year Treasury averaging about 2.9 percentage points, up from about 2.6 percentage points in 2014, and […]
FHFA Mortgage Mistakes Coming Again?
In October, Fred Watt, the director of the FHFA, announced that he plans to allow 3% down payment mortgages for the many financial institutions that Fannie and Freddie guarantee. He states that his intention is to include more minorities and people who had their savings wiped out by the Great Recession re-enter the housing market. […]
Gulf Shores Home Equity Loans Double
Gulf Shores home equity loans have nearly doubled this year, partly due to the continuous increase in the price of homes. The rise in home values has pulled more and more borrowers out from underwater. While the share of borrowers that cashed-out some Gulf Shores home equity has increased considerably over the past year, the […]
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