by Athena Paquette | Feb 19, 2016 | Blog, Home Owners, Investors, Realtors
FALSE! At times Fannie Mae and Freddie Mac’s automated underwriting system (DU and LP) will calculate that a borrower has good enough credit or enough equity or enough cash reserves where they find this borrower is low risk and therefore only needs to present 1 tax...
by Athena Paquette | Jan 30, 2016 | Blog, Home Owners, Investors, Realtors
Another rocky week in the markets gave us more downside to the stock market and see-saw action in the fixed rates. The biggest news was that the Federal Reserve decided to leave rates as is, or in other words not raise them again, given the world economy’s weakness....
by Athena Paquette | Jan 30, 2016 | Blog, Home Owners, Investors, Realtors
Client graduates from Pharmacy school with $170,000 in student loan debt. No, that’s not the win, but here it is. She bought a home with her hubby while in school. They bought March of 2012 for $410,000. Put 20% down. Now the house is worth $550,000-600,000 and she...
by Athena Paquette | Jan 30, 2016 | Blog, Home Owners, Investors, Realtors
FHA loans are bad because they have PMI. FALSE. There are no good or bad loans; it depends on what’s right for you. I have client who recently called to refi. Their interest-only loan was about to become principal and interest with DOUBLE the payment they currently...
by Athena Paquette | Jan 22, 2016 | Blog, Home Owners, Investors, Realtors
While the news is not bad, the rates fell. This week we got the December consumer price index, and it was down .1%, with the core rate up .1%. December housing starts were down .25%, and building permits were down 3.9%. All are not good signs, as construction is a...
by Athena Paquette | Jan 22, 2016 | Blog, Home Owners, Investors
You probably remember the interest only loans from years ago. Those loans were most popular in 2005, 2006, and 2007. Most of them had a 10 year interest only period after which the loan started to amortize (include principal). Here we are 10 years later and people are...
