Another Reason to Own A Home

In case you need another reason to purchase a home for you and your family; Here is an article I just read in the National Mortgage Professional Magazine, “Study Concludes Homeownership Tied to Positive Outcomes for Children“.  According to a new study by professors Richard K. Green and Gary D. Painter at the University of

What is a Rate Lock?

Essentially a rate lock/lock-in is a commitment issued by a lender to a borrower or other mortgage originator guaranteeing a specified interest rate for a specified period of time.  Here is how rate locks work; Although lenders can differ in how they handle their own rate lock basics, a typical locking in of a rate

What is a Business Cycle?

The “Books” say an average business cycle is 44.4 months and we have lived through many of them. Some longer than that and some as short as a season in New England.  A business cycle is like the exhibit from our youth…“What makes an ocean wave, wave” at the New England Aquarium.  In the exhibit,

Home Ownership….It’s still an American Dream

Every so often I come across information from other sources that I feel is relevant to what is going on in the economy in our area.  Today I want to share a great resource: the KCM blog.  In my opinion, their blog post today reaffirms that now is a great time to buy a home!

What is Earnest Money?

Earnest money is a money deposit made by a buyer to a seller as a sign of good faith that you are seriously interested in buying a home.  This earnest money is credited to the down payment at closing.  It is held in a non-interest bearing trust account until the time of closing. Typically, the