According to the U.S. Department of Housing and Urban Development, 2017 shows great potential for growth in home sales, especially since last year’s sales were the highest they’ve been since 2007. As a result, the real estate market has become increasingly competitive in many parts of the country—but this doesn’t mean mortgage qualification has matched this level of competition. In fact, the technology company, Ellie Mae, has recently revealed that homebuyers with low FICO scores or high debt-to-income ratios could still qualify for that desired mortgage.

Since election week in November, increasing mortgage rates have dominated news headlines throughout the country. Of course, many potential homebuyers associate higher rates with more money owed and simply press the pause button on their home buying process—but they shouldn’t! In fact, there are several reasons why you should not wait for rates to come back down before completing the buying process. Let’s take a closer look.

Mortgage calculators are great...as long as you plug in the right facts and figures. They help you make important financial decisions throughout the mortgage process, like which house you can afford, so it’s important to make sure your calculations include all the smaller costs that you might not think about off-hand, and may not be included in all mortgage calculators. But what exactly are these extra facts and figures to consider? First, check these expenses off your list:

Two weeks ago, the Federal Housing Administration (FHA) announced that all FHA-backed mortgages to close on or after January 27 would have a .25% reduction in mortgage insurance premiums. As of last Friday, however, the Department of Housing and Urban Development has suspended these rate cuts indefinitely. 

If you’ve ever purchased or refinanced a home, you know that closing costs can get a little pricey. Usually, the total closing cost is nearly three percent of the home’s price; however, according to the Federal Reserve, some applicants pay up to six percent depending on their loan amount and location. Luckily, whether you’re a homebuyer or refinancer, there are three great ways to lower your overall closing costs.

No state is completely immune to natural disasters. From forest fires to hurricanes, Mother Nature’s curve balls certainly have the potential to change anyone’s life in the blink of an eye. Luckily, many mortgage services have been put in place to help you through the aftermath of one of these events. Check out our list of tips and tricks to make getting through any natural disaster as quick and smooth of a process as possible.

Last week, the Federal Housing Administration (FHA) announced that it has reduced its annual mortgage insurance premiums (MIPs) by .25% for the majority of borrowers. This rate cut will apply to all FHA-backed mortgages that close on or after January 27 and, on average, is expected to save borrowers $500 throughout 2017.

Since election week in November, increasing mortgage rates have dominated news headlines throughout the country. What most people don’t realize, however, is that home prices and mortgage rates aren’t the only spiking costs in today’s economy—the cost of rent has drastically increased as well. 

According to a recent study, only 1 in 3 Americans has saved money for their retirement. It is not a financial strength for most, yet over 90 percent of respondents consider buying a home for retirement as an important goal to achieve. Luckily, there are many inexpensive places where you can buy a home for retirement today and make that dream a reality. Here’s the complete list.

According to our last article, “Next Year’s Perspectives on Housing,” 2017 is going to be full of home buying opportunities. Mortgage rates remain lower than the previous decade, homebuilder confidence is high, and home buyer sentiment has stayed strong. One element of the housing market, however, has drastically changed within the past year: the nation’s homebuyers. Not only is the demographic of buyers shifting, but also are their home buying concerns and priorities. Let’s take a closer look at what you need to know about today’s homebuyer.