Real Estate Finance

2021 Home-Buying Insights From Mortgage Lenders

The majority of buyers purchase their home using a mortgage. So, what do mortgage lenders want buyers to know about buying a home—particularly in today’s hot real estate market? A recent article from realtor.com outlined the key insights mortgage lenders want home buyers to understand if they’re planning to buy a home in 2021, including: Get pre-approved from the get-go. Because...

Is the Real Estate Market Going to Crash?

While many areas of the economy have contracted, the housing market has stayed remarkably strong. But can the good news last? When COVID-related shutdowns began in March, real estate brokers and clients scrambled to respond to the shift. Record-low interest rates caused some lenders to call a halt to new underwriting, and homeowners debated whether or not to put their houses on the market. However,...

Preparing For An Appraisal? Focus On These Projects

An appraisal is an important part of the home selling process; you want your appraisal to accurately reflect your home’s value and your listing price. But if your home appraisal comes in lower than expected, it could cause issues with your home sale and put the deal at risk. Which is why, as a seller, you want to do everything you can to get your home ready for the appraisal. But what projects should...

What is Title Insurance?

Simply put, title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions. When a property is financed, bought or sold, a record of that transaction is generally recorded in public archives....

What Are Closing Costs?

Often buyers and sellers ask me about closing costs.  Specifically what do they include and how much should they budget.  Simply put, closing costs are fees associated with the purchase of a home that are due at the end of the sales transaction.  Both the buyer and the seller usually have closing costs. The term "closing costs" includes a variety of expenses above the purchase price of your property,...

27% Of Homeowners Unaware Of Their Potential Mortgage Savings

According to a new study, more than one in four homeowners are in the dark about their mortgage interest rate—and it could be costing them. A recent study from Bankrate (explored in an article on Fox Business) found that 27 percent of homeowners in the US don’t know the interest rate on their home. That number is even higher for younger homeowners; a whopping 34 percent of homeowners between the...

Mortgage Rates Hit All Time Low

Mortgage rates have been hovering near all-time lows for months. But recently, those interest rates officially crossed the line from “near an all-time low” to “at an all-time low.” According to data from Freddie Mac, for the week ending April 30, interest rates on 30-year fixed-rate mortgages averaged 3.23 percent. That’s down from 4.14 percent a year ago—and the lowest rate on record...

What is Mortgage Forbearance?

If you are watching the news, you have probably heard the term “Mortgage Forbearance.”  What is it and how does it work? You can temporarily suspend, or even reduce, your monthly mortgage payments. At the end of your forbearance, you will still have to repay your mortgage. Forbearance is not the same as mortgage forgiveness. If you’re able to keep up with your payments, keep making them....

Why Real Estate Investing Makes (Dollars and) Sense

You might have heard of programs that promise to help you get rich quick through real estate investing. Unfortunately much of what they’re selling are high-risk tactics that aren’t a good fit for the average investor. However, it’s possible to make steady, predictable, low-risk income by investing in real estate in Mammoth Lakes. Here are a few tried and true real estate investment tactics that...

National Snapshot: What’s Ahead for Real Estate

  The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan’s latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.   However, if you follow national news, you’ve probably heard speculation that we could be headed toward a recession. Global trade tensions and a...

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