Archive for the ‘Mortgage Loans’ Category

Checking The Pulse Of The Kansas City Real Estate Market It’s amazing that during the seller’s market we experienced for many years, home buyers would rarely complain about the prices they were paying for homes. But now, during a buyer’s market, when Kansas City home buyers can buy a much larger home at a much [...]

Checking The Pulse Of The Kansas City Real Estate Market The HomeSteps Winter Sales Promotion that we’ve seen during past winters on Freddie Mac foreclosure listings is making a return to both Kansas and Missouri. HomeSteps announced that they are adding the states of Kansas and Missouri, along with Kentucky, Oregon, Washington and Alaska to [...]

Checking The Pulse Of The Kansas City Real Estate Market Guidelines definitely vary from lender to lender but a typical baseline for securing a home loan will be having at least a 3.5% down payment and a 580 minimum credit score. FHA loans require a 3.5% down payment and conventional loans (i.e. loans backed by [...]

Checking The Pulse Of The Kansas City Real Estate Market Even with a solid down payment and good credit scores, home buyers are being grilled by mortgage lenders before their home loan are finalized. If you haven’t purchase a home in Kansas City, Johnson County Kansas, Overland Park or the surrounding area the past couple [...]

Checking The Pulse Of The Kansas City Real Estate Market Are you considering buying a home in Kansas City, Johnson County Kansas, Overland Park or in the surrounding area? If you are, one of the first things you should start checking on are today’s mortgage interest rates. The lower the interest rates available, the lower [...]

Checking The Pulse Of The Kansas City Real Estate Market It’s often the last thing on a home buyer’s mind yet credit scores are a powerful aspect of buying a Kansas City home. I’ve seen borrowers with a 20% down payment and buying WELL below their means get turned down for a home loan because [...]

Checking The Pulse Of The Kansas City Real Estate Market Mortgage rates have now hit 40 year lows but many Kansas City home buyers are remaining cautious. Freddie Mac reports that the average 30-year fixed rate loan nationally had an interest rate of 4.22 percent — mortgage rates we haven’t seen since 1971. Low mortgage [...]

Checking The Pulse Of The Kansas City Real Estate Market QRM stands for Qualified Residential Mortgage (QRM) and it will change the way mortgage lending is done should the proposed loan regulations be put into effect. Only home buyers who make a 20% down payment would be considered a “Qualified Residential Mortgage”. Since 85% of [...]

Checking The Pulse Of The Kansas City Real Estate Market Fannie Mae is planning to be less involved in future upper bracket home purchases. Currently, most counties across the U.S., including all of our Kansas City metro counties, have a $417,000 maximum loan amount that Fannie Mae will back. This means if you need a [...]

Checking The Pulse Of The Kansas City Real Estate Market Discussions abound of serious shake-ups possibly coming in the mortgage lending industry. It’s been suggested that FHA may raise minimum down payments to 5% — they were raised from 3 to 3.5% just last year. Think that will eliminate the number of home buyers in [...]