ARCHIVED BLOG POSTS
2019
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Let’s talk about adjustable rate mortgages. Everybody's afraid of them. Well, I understand why... because nearly 10 years ago, during the real estate boom, people were doing adjustable rate mortgages, they were getting into a mortgage with a 1% rate to start, and then all of a sudden, it became 6...
08/13/2019
For the past couple of years, we’ve been seeing a drastic decline on mortgage first-time buyers. The millennial generation has been received in the midst of a different financial weather, where securing an income and buying your first house became mutually exclusive. New, younger buyers who depen...
08/12/2019
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The HUD (or Department of Housing and Urban Development), formally suspended an important rule shift regarding down payment assistance guidelines. The rule, issued in April 2019, was establishing a need for clarification and guidance for down payments on loans backed by the FHA, but as of today, ...
08/08/2019
The Fed has lowered interest rates for the first time in 11 years. This comes as a consequence of several events, including the continuing pressure of the POTUS and the possibility of negative economic repercussions. The Federal Reserve hasn’t lowered these rates since the 2008 recession. Jerome ...
08/05/2019
The HUD announced new actions regarding the reduction of risks inside cash-out refinance lending. For starters, loan-to-value maximum requirements will be lowered by 5% starting on September 1st of the current year. Other actions and policies include new ways of reducing loan churning on VA mortg...
08/02/2019
Rainmaker
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Phil Stevenson, CRMP
"Mortgage Nerd" in Miami, Florida and Texas