According to the Bureau of Labor Statistics’ latest employment summary, 5.9 million Americans work part-time jobs because of economic reasons. As a result, many potential homebuyers shy away from the opportunity to buy a home—but this should not be the case. In fact, mortgage applicants who work one or more part-time jobs can apply that income towards mortgage qualification. Check out how you can get mortgage approved with either one part-time job or a part-time second job today.
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Mortgage Qualification With A Part-Time Job
[fa icon="calendar'] Nov 15, 2016 11:06:35 AM / by Eustis Mortgage posted in mortgage news, mortgage qualification
What To Expect For The Housing Industry In 2017
[fa icon="calendar'] Nov 11, 2016 10:25:33 AM / by Eustis Mortgage posted in mortgage news, housing industry
This month, housing industry experts from around the country met in Orlando, FL to forecast next year’s economic conditions. Industry leaders such as Lawrence Yun, chief economist of the National Association of Realtors, and Dennis Lockhart, president and CEO of the Federal Reserve Bank of Atlanta, kicked off the conference with a recap of this year’s housing industry conditions.
The Relationship Between Home Prices And The Stock Market
[fa icon="calendar'] Nov 8, 2016 10:20:28 AM / by Eustis Mortgage posted in mortgage news, home prices, stock market
The relationship between two of the nation’s greatest investment arenas, the housing market and stock market, is much more complex than most Americans would expect. In fact, a recent study by CXO Advisory Group, a popular economic analyst company, found that there is no direct, causal relationship between the two—instead, they affect and are directed by the same macro and microeconomic factors. More specifically, they both follow the trends of an economic cycle, which represents the stages of expansion and contraction of the nation’s GDP.
Today’s Increase In First-Time And Single Women Homebuyers
[fa icon="calendar'] Nov 4, 2016 10:23:41 AM / by Eustis Mortgage posted in mortgage news, single women homebuyers, first-time homebuyers
After three years of decline, single women and first-time homebuyers have significantly increased their share in the housing market within the past month. In fact, according to the National Association of Realtors, single women have reached homeowner levels unseen since 2011, while first-time buyers climb to the second-highest percentage in years.
Homebuilder Sentiment Falls 2 Points, But Remains Higher Than Average
[fa icon="calendar'] Nov 1, 2016 10:42:12 AM / by Eustis Mortgage posted in mortgage news, homebuilder sentiment
This month, the National Association of Home Builders’ (NAHB) Housing Market Index fell two points, dropping the marker to 63. According to the Association’s analysts, anything above 50 is considered positive homebuilder sentiment—meaning homebuilders currently remain positive about the U.S. housing market.
Today’s Top Obstacles to Homeownership
[fa icon="calendar'] Oct 28, 2016 10:21:48 AM / by Eustis Mortgage posted in mortgage news, obstacles to homeownership
Homeownership is a big financial decision. Whether you’re a first-time homebuyer or in the market for a second home, signing the closing paperwork is a big step in your life. In fact, making this step is a goal for most Americans, as 89 percent of adults refer to homeownership as a big part of the American Dream. So why are so many potential homebuyers pressing the pause button on making this a reality? Let’s look at the top three reasons why homeowners delay the process.
Mortgage Rates Approach Pre-Brexit Level
[fa icon="calendar'] Oct 25, 2016 10:18:04 AM / by Eustis Mortgage posted in mortgage news, brexit, mortgage rates
When Britain voted to withdraw from the European Union in June, homeowners began to enjoy a season of low rates and excellent refinancing opportunities. Now, four months after Brexit, mortgage rates have begun to bounce back and approach pre-Brexit levels—but don’t worry! Their ascent is expected to be short-term and the numbers are still very reasonable.
3 Incredibly Helpful Mortgage Calculator Tricks
[fa icon="calendar'] Oct 21, 2016 10:15:44 AM / by Eustis Mortgage posted in mortgage news, mortgage calculator
Any mortgage calculator you find will show you three things: your principal and interest payment, the total amount you’ll be paying over the life of the loan, and your dropping balance with each month of mortgage payments. While these are all very beneficial facts for a homebuyer to know, there are three important mortgage calculator tricks that may just help homebuyers save more money on mortgage payments. Check out our list.
$500 Million Awarded To Louisiana, Texas & West Virginia Flood Areas
[fa icon="calendar'] Oct 18, 2016 10:13:20 AM / by Eustis Mortgage posted in mortgage news, community development block grant
This month, U.S. Department of Housing and Urban Development (HUD) Secretary, Julián Castro, awarded $500 million to Louisiana, Texas and West Virginia as part of the HUD’s Community Development Block Grant – Disaster Recovery Program. The motion was approved by President Barack Obama on September 29, 2016, when he signed the Continuing Resolution into law. With this resolution, the Department of Housing and Urban Development could allocate $500 million “in the most impacted and distressed areas” that experienced natural disasters before September 29 of this year.
1 In 10 Borrowers Miss Out On Mortgage Savings Today
[fa icon="calendar'] Oct 14, 2016 11:25:27 AM / by Eustis Mortgage posted in mortgage news, mortgage refinancing, mortgage savings
This year, mortgage rates have been lower than usual. With refinancing recently recorded as one of the most popular mortgage applications submitted to lenders, it’s clear that most borrowers have taken advantage of this money-saving opportunity—but 1 in every 10 borrowers have surprisingly missed out.