When comparing existing home sales and new home sales announced for the same month, remember that these figures may be representing data during different months. Counting of New and Existing Home Sales…
Month: November 2010
Vacation Homes – Dreams Fulfilled During the Downturn
A large number of people who’ve dreamed of buying a vacation home near the beach, beside a lake, in the mountains, or in the center of a resort city have fulfilled their…
Tampa Safest Among Five Most Populated Cities in Florida
Tampa had the lowest crime score among the five most populated cities in Florida, namely Jacksonville, Miami, Tampa, Saint Petersburg and Orlando last year, based on the FBI report “Crime in the…
Higher Jumbo Loan Limits Extended to 2011
Prospective buyers of higher-priced homes in high-coast areas can still depend on Fannie Mae and Freddie Mac loans after the Federal Housing Finance Administration extended the granting of higher conforming loan limits…
Biggest Lenders Require Higher FICO Scores for FHA Loans
The country’s two biggest mortgage lenders have raised their standards for Federal Housing Administration loans. Weeks after the FHA increased its minimum FICO score requirement for its low down payment loans to…
Freddie Borrowers Refinancing Into Fixed Rate Mortgages
Nearly all Freddie Mac-backed mortgage borrowers who refinanced their loans in previous quarters have chosen to shift from adjustable-rate to fixed-rate mortgages or to remain users of fixed-rate loans. In the third…
Half of 155 Large Metro Areas Posted Home Price Increases
Despite the continued price reduction impact of distressed homes nationwide, the prices of pre-owned single-family homes in 77 of 155 major metropolitan areas surveyed by the National Association of Realtors increased in…
Checklist for Documents You Need When Applying for a Loan
Gathering and organizing your financial documents before applying for a home loan benefit you in many ways. As you gather your data, you’ll see things you probably haven’t considered before, such as…
What Happens at Mortgage Closing?
Closing on your home is the last step you’ll undergo before you finally receive the keys to your new home. If you prepare well, closing day would be among the most exciting…
Tax Deductions That You Can Claim After Buying a Home
There are at least four ways by which you can claim federal income tax deductions arising from your home ownership. You can deduct your mortgage interest, property tax, private mortgage insurance and…