Recent medical school graduates, saddled by high student loan debt, sometimes have a hard time qualifying for a first mortgage. Now, however, a growing number of lenders will consider future earnings potential of high earners in the medical profession as a way to offset high debt ratios. But specialty mortgages for young physicians aren't the only unique loans available today. Nationwide, there are a number of unique programs designed to help first-time buyers qualify for a mortgage loan. While some target specific professions, others are open to a wider range of applicants. They are definitely worth exploring if you're interested in buying a home, but are not able to qualify for a standard … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 15th, 2018
Last week's economic reports included releases on inflation, consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released. Inflation and Consumer Sentiment Dip The Commerce Department reported slower growth in inflation for September. The Consumer Price Index for September showed a growth rate of 0.10 percent. Analysts projected a reading of 0.20 percent growth, which was based on August's reading of 0.20 percent. This was the sixth consecutive month-to-month increase in the inflation rate. Year-over-year, inflation has grown 2.30 percent as compared to the prior year-over-year rate of 2.70 percent. Analysts said that rising rents and homeownership costs … [Read more...]
U.S. Wage Increases Could Help Home Buyers
The struggle to achieve the American homeownership dream often feels like it happens in a vacuum. Everyday people work hard, save money and polish up their credit to get a low mortgage rate. But there are powerful forces at work that are far beyond each person's control. And until recently, the gap between American wage growth and rising home prices was widening. According to data coming out of the U.S. Department of Labor, unemployment recently hit a 49-year low and wages are enjoying the greatest uptick in nearly a decade. That is good news for prospective home buyers. American Wages On The Rise The 2018 economic news has seemed like one long greatest hits album. Historic-low unemployment … [Read more...]
Fall Outdoor Lighting Tips
Many people associate the fall months with cooler temperatures and changing colors. But another defining characteristic of fall is that the days become shorter. Yes, there's limited daylight, as the sun rises later and sets earlier. Noting this, it's important to take any exterior lighting into consideration if you're listing your home this fall. It's important because you want your home to have a welcoming vibe to it, but with the potential for showings to occur in limited daylight, some modifications and new light installations may be necessary in order for it to stand out. What's more is that exterior lighting can serve as a theft deterrent. Here's a closer look at some fall outdoor … [Read more...]
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