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 ofContinue reading “Another Reason to Own A Home”
Tag Archives: Bill’s mortgage news
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 rateContinue reading “What is a Rate Lock?”
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,Continue reading “What is a Business Cycle?”
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!Continue reading “Home Ownership….It’s still an American Dream”
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, theContinue reading “What is Earnest Money?”