Source: National Association of Realtors
- Get at least three written estimates.
- Check references. If possible, view earlier jobs the contractor completed.
12 Tips for Hiring a Remodeling Contractor
May 12th, 2009Does Moving Up Make Sense?
May 12th, 2009Source: National Association of Realtors
These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location. If you answer yes to Read the rest of this entry »
Buying Your First Home
May 12th, 2009Your First Home: The Proven Path to Home Ownership is a great resource for first-time home buyers. This educational resource is a must-read for anyone aspiring to buy a home. Read the rest of this entry »
5 Common First-Time Home Buyer Mistakes
May 12th, 2009Source: National Association of Realtors
- They don’t ask enough questions of their lender and end up missing out on the best deal.
Bringing the Dream of Homeownership Within Reach
May 12th, 2009As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers. Read the rest of this entry »
Claim Tax Credit on 2008 Tax Return
May 12th, 2009Source: IRS
Buyers who qualify for the first-time home buyer tax credit that have already filed their tax returns can still claim their tax credit this year. Read the rest of this entry »
Low Down Payment Loans from FHA
May 12th, 2009Source: HUD.gov
First-time home buyers can take advantage of FHA loans that require down payments as low as 3.5%. These loans can be a great way Read the rest of this entry »
New Website to Help Struggling Homeowners
May 12th, 2009Source: MakingHomeAffordable.gov
The U.S. government recently unveiled a consumer website to inform struggling homeowners of the types of government resources available to them. Read the rest of this entry »
Banks Permanently Banned from Practicing Real Estate
May 12th, 2009Source: Realtor Magazine
In 2001, the Federal Reserve Board and the U.S. Treasury Department issued a proposed regulation to allow national bank holding companies and financial subsidiaries to engage in real estate brokerage and management. Read the rest of this entry »
The Federal Reserve Pulls Out the Stops to Get the
May 12th, 2009The Fed illustrated that, even with the federal funds rate nearly at zero, it still has more tricks to pull out of its hat by taking unprecedented steps toward supporting mortgage lending and the housing market. Along with purchasing $300 billion in Treasury securities, the Fed promised an additional $750 billion on top of the $500 billion it has already committed to purchasing mortgage-backed securities.
When the Fed first announced that they would purchase these securities a few months ago, interest rates fell by 1%. After the most recent announcement, rates fell by nearly a quarter of a percent from 5.03% on March 12 to 4.78% on April 2. Some banks are extending loans at around 4.5%.
Estimated Payment on a $200,000 Mortgage
InterestRate Monthly Payment
8.5% $1,538
4.5% $1,013
6.5% $1,264
Monthly Payment = Principal and Interest Portion Only
