by Irene Moustakas | Jan 13, 2022 | Uncategorized
Well, we knew it wouldn’t last forever. Rates in the high 1% (10 or 15 Year Fixed) and 2% range quickly have become a thing of the past. There are two main reasons for this: Rising InflationThe Federal Reserve started tapering its mortgage stimulus program, with the...
by Irene Moustakas | Jun 28, 2021 | Uncategorized
Have you tried to refinance in the past year or so into historically low interest rates, but did not get approved because you didn’t qualify due to low income? It’s so disheartening to know you can save so much money, but don’t fit within...
by Irene Moustakas | May 20, 2021 | Uncategorized
Most people have heard of Fannie Mae and Freddie Mac, and usually in conjunction with one another. And if you have ever received a home loan, it is highly likely that your loan is or was owned by one of these two government-sponsored enterprises. Fannie Mae and...
by Irene Moustakas | Aug 17, 2020 | Uncategorized
Fannie Mae and Freddie Mac instituted a “refinance fee” of .5% in a surprise move last week. No one in the industry had any idea or warning that this was going to be implemented overnight. So this means that if you want to refinance, your loan will now...
by Irene Moustakas | May 5, 2020 | Uncategorized
As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the government has stipulated two important allowances in regards to your mortgage. Firstly, there is a moratorium on foreclosure proceedings, and secondly, you have the right to a forbearance...
by Irene Moustakas | Jan 22, 2020 | Uncategorized
Yes, you can, and yes, it can be! Under this Fannie Mae program that I am highlighting, the home is treated as an owner-occupied loan, even though your parents will be the ones living there, not you. This means you get a better interest rate and qualify for lower down...
by Irene Moustakas | Jan 16, 2020 | Rates, Tips
Interest rates are expected to remain low in 2020, so opportunities to refinance at a lower interest rate at little to no cost are readily available, especially if you purchased your home in 2017 or 2018. Many of the clients I refinanced in 2019 went from one 30 Year...
by Irene Moustakas | Jul 23, 2019 | Tips
If you can, yes! You’ll end up shaving about 5 years off your loan by doing so (the number of years will vary depending on loan amount and interest rate). Many servicers allow this option once you set up your payments online. If a third party company offers to manage...
by Irene Moustakas | Jul 16, 2019 | Uncategorized
It’s very important to assess the cost of buying and refinancing. Fees depend on the purchase price and on the loan amount. Since total cost on a purchase depends on the city and county you are buying in, as well as what is negotiated with the seller, I will do a...
by Irene Moustakas | Jul 9, 2019 | Uncategorized
From a loan-perspective, here are some lender rules and qualifications to consider when you’re buying a rental property. Taxes and write-offs are a completely different aspect you need to consider as well, but speak to your tax advisor about this in order to make the...