Get Pre-Approved Today for a new Home Mortgage with Racheli

Claim your Home Buyer Guide Today CLICK HERE!Racheli Fort Lauderdale Lender, will guide you through the mortgage process. Being that not all Pre-Approval letters are created equal. And Not all Mortgage Lenders are created equal, Speak with Racheli when you are ready to run the #’s. and Get Pre-Qualified for a mortgage  today before you go shopping for a home. “Talk to Racheli it’s like taking to 100 Banks”

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Wondering How Much Mortgage You Can Afford? Here’s How to Calculate It

Many people are aware of the financial commitment that is involved when investing in a home, but what that amounts to is different for every person. From what you can afford to what a lender will allow, there are plenty of details involved in determining the right home for you. If you’re not quite sure what the right price is, here’s how to approach home ownership and determine your debt-to-income. Calculating Your Debt-To-Income Ratio You may not know what your DTI ratio is, but it has a lot to with how much home you can afford. In order to calculate this amount, add together all the debts you owe each month and divide them by your monthly pre-tax income. For example, if your credit card...

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4 Terrible Mistakes Made by First-time Home Sellers

There are a lot of different factors that go into selling a home for the first time that can make it a stressful process, but there are a few things home sellers should avoid for a successful sale. If you’re going to be putting your home on the market in the near future and are hoping for quick success, here are some common mistakes you’ll want to be sure to bypass. Pricing Your Home Too High It’s entirely likely that there’s an amount you have in mind when it comes to selling your home, but it’s important that your asking price is in line with the market conditions and what’s being offered. Instead of winging it, check the local neighborhood listings and see what similar...

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4 Things You Absolutely Should Not Do After You Apply for a Mortgage

If you have a good credit history and are prepared to invest in a home, you may be feeling pretty confident about the mortgage process. However, it’s important to be aware that there are things that can have a negative impact on your application. Whether you’ve just submitted your documents or are getting close to it, here are some things you may want to avoid. Acquiring New Credit It may seem silly that something as minor as a new credit card can be a mark against your credit, but applying for new ones can be a bad sign to lenders. The problem is that this can be signal an unmanageable debt load, so you may be considered a high risk for not being able to...

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Understanding Real Estate Contracts and What You Can Expect to Find

There are a lot of things that go into the successful sale of your home, but many people are unfamiliar with the intricacies of the contract. Whether you consult with your real estate agent or plan on diving in on your own, it’s important to be clear on the terms. If you’re wondering what you can expect when it comes to the contract, here are some pointers on what to watch out for. Real Estate Jargon A real estate contract would not be complete without the professional terminology, so you’ll see words like amortization, price-to-income ratio and title that may impact the meaning of your contract. Instead of going it blind, search the Internet for terms or consult with your real estate agent to provide...

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What’s Ahead For Mortgage Rates This Week – January 9, 2017

2017 started with good news; fixed mortgage rates were lower, but the national unemployment rate ticked upward and labor reports showed fewer openings for public and private sector jobs. Construction spending was higher in November. Mortgage Rates Lower; Construction Spending Higher Freddie Mac reported lower average rates for fixed rate mortgages as the average rate for a 5/1 adjustable rate mortgage crept up. The average rate for a 30-year fixed rate mortgage dropped by 12 basis points to 4.20 percent; The average rate for a 15-year mortgage fell 11 basis points to 3.44 percent while the average rate for a 5/1 adjustable rate mortgage gained three basis points to 3.33 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1...

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Understanding the Reverse Mortgage and How to Use It to Pay Off a Regular Mortgage

There are a variety of mortgage products out there that serve the needs of different homeowners, but for the uninitiated it can be hard to know what will work best for them. If you happen to be close to retirement and are looking at options that will be more financially beneficial for you, here are the details on a reverse mortgage and how this product can work for you. The Details On A Reverse Mortgage A reverse mortgage may be one of the lesser-known products available on the market, but it was created in 2009 as the Home Equity Conversion Mortgage for Purchase (HECM) following the 2008 recession. While this type of mortgage is only available to homeowners who are 62 or older, it offers...

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The Pros and Cons of ‘Mortgage Before Marriage’ for Young Couples

There was a time when a higher percentage of people were married before they committed to buying a home together, but it’s a lot more common to co-habit and invest in a home together. If you’re considering the commitment of a mortgage without being married, here are some things to be aware of before you start searching the market. Relationship Status Won’t Affect Your Rates It might seem like there are greater risks involved if two individuals purchasing a property are not legally bound, but it actually makes no difference to the mortgage lender. If two people are buying a home together, the lender is going to be assessing their credibility based on their individual credit reports and financial history, not on their relationship to...

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5 Major Red Flags to Watch for When You’re Touring an Open House

An open house is one of the best opportunities a potential homeowner will have to take stock of a home and determine if it will work for them. However, it can also be a good opportunity to discover some glaring red flags that might make it a less worthwhile investment. If you’re currently perusing the open houses in your neighborhood, here’s some things you should make sure to watch out for. A Selling Hot-Spot It’s well and good if you love the home you visit, but ‘location, location, location’ is a popular phrase for a reason. If you’ve noticed a lot of homes for sale in the area, this could be a sign of neighborhood issues that are less than pleasing. An Odd Smell Baked...

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