KCM Blog

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Loans

Sense of Urgency?

August 27, 2010

It’s been hard to fault home buyers who haven’t rushed to buy a home, now that there is no longer any Federal Tax Credit. I mean, if you read this blog with any consistency, we all know that home prices are going to continue to tumble, and there is no indication of interest rates climbing [...]

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Jumbo Mortgages Becoming More Available

August 19, 2010

While we still see a tightening of mortgage underwriting guidelines for many loan programs, or even an increase in costs associated with the FHA loan program, there has emerged an increased appetite for Jumbo Mortgages in the marketplace. Today, I’d like to discuss the “What?”, “Why?” and “How It Affects You?” of the evolving landscape. [...]

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5 Common Mistakes Made When Financing a Home

August 5, 2010

You are about to enter into the largest financial commitment of your life- a home mortgage.  No two transactions are exactly alike.  Unfortunately, too many homebuyers do not take the necessary time and consideration they should in choosing the correct financing for their individual situation.  Your lender should take the time to ask you questions [...]

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The Top 7 Reasons to Consider an FHA Mortgage

July 29, 2010

When exploring your options for financing today, I believe everyone should at least consider an FHA Mortgage.  Today, I want to tell you why: 1. Loan Amounts The loan amounts available (especially in High Cost Areas, like mine) are on a par with Conventional Financing.  In the past, FHA programs were typically only made available [...]

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The 5 Components of a Good Credit Score

July 22, 2010

We are bombarded constantly about how important our credit score is. What do we actually need to know? We asked our ‘resident expert’, Dean Hartman, to shed some light on the matter. – The KCM Crew Everyone knows that you need a good credit score to get a mortgage.  Most even know that your score will [...]

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Is Your Pre-Approval Worth The Paper It’s Printed On?

June 18, 2010

For decades lenders have been shouting to the rooftops that buyers should “Pre-Qualify BEFORE You Buy!”  Admittedly, we were trying to get access to prospects as early as we could to, hopefully, bond with them and eliminate our competition.  Today though, a Pre-Approval has become the cornerstone of most real estate transactions. You see, by [...]

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The Appraisal: A True Evaluation of a Home’s Worth?

June 7, 2010

Every house for sale in today’s real estate market must be sold twice. First, you must find a buyer ready, willing and able to purchase the home. Second, you must sell the value of that house to a bank so they will agree to lend money based on the negotiated price. The second sale may [...]

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Today’s Lending Environment: Calling Oliver Stone!

May 20, 2010

Movie director Oliver Stone is often tagged as someone who sees conspiracies in everything. I just wonder how he would see the evolving lending environment… For the most part, this blog is intended to inform home buyers and sellers, as well as real estate agents and mortgage professionals, as to market conditions and how they [...]

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No Miracles in Modification Program

May 19, 2010

The Home Affordable Modification Program (HAMP) is the administration’s hope for troubled homeowners trying to avoid foreclosure by modifying their current mortgage payments. The original release said the program was: …aimed at helping 3 to 4 million at-risk homeowners – both those who are in default and those who are at imminent risk of default [...]

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Tax Credit Still Available for Troops!

April 30, 2010

Thank God For Those Who Have Served! We all owe a debt of gratitude to the men and women who have served this country in times of peace and times of conflict.  They preserve the freedoms the rest of us too often take for granted.  As a nation, there are too few times we properly [...]

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