The Home Loan Arranger

Thursday, January 16, 2014

Experts Predict Buyers Will Need a Denver Mortgage Broker’s Services

Housing experts predict that interested home buyers will need the services of a mortgage broker in Denver and in other areas in the country in the following year. Forecasting real estate trends for 2014, these industry professionals say that residential property seekers will build new nests in more economical hubs in the US' Northwest, Southeast, South Atlantic, South Central, and Rock Mountain regions, including Denver.

In an article by Erin Carlyle of Forbes, experts weighed in their two-cents by saying:

Rising prices, a reversal of underwater mortgages, and easier credit will free Americans up to move. But next time they'll choose smaller homes in more affordable locations. Redfin is predicting that new lending regulations—which make it harder to borrow more—will send Americans to less expensive hubs like Portland, Denver, Austin, Richmond, Dallas, Houston, San Antonio, Atlanta, and Raleigh.

http://www.thehomeloanarranger.com/experts-predict-buyers-will-need-denver-mortgage-brokers-services/

FHFA Index Shows Decrease in Interest Rates for Home Loans in Denver

The Federal Housing Finance Agency's index showed a decrease in average contract interest rates for home loans in Denver and other areas all over the country for November. Compared to the national data for October, the November rate marked a 0.10% decrease on the composite of all mortgage loans.

As posted in an official news release by the agency on their website:

According to the Federal Housing Finance Agency (FHFA), the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.21 percent for loans closed in late November. The index is calculated using FHFA’s Monthly Interest Rate Survey. The contract rate on the composite of all mortgage loans was 4.22 percent, down 10 basis points from 4.32 in October.

There are several factors that affect interest rates, including demand from consumers, the Federal Reserve policy, and inflation.

http://www.thehomeloanarranger.com/fhfa-index-shows-decrease-interest-rates-home-loans-denver/

Why Denver is a Good Place to Settle Down

If you're looking to move to another city and purchase a house to settle down, Denver may be a good choice. In 2013, Denver was named as one of the most livable cities in the United States and grabbed the ninth spot by virtue of the city’s best offerings in terms of salary, lifestyle, and of course, housing. There's also more to look forward to in Denver than the good quality of life, such as the city’s celebrated sports teams, the Red Rocks, and the Rocky Mountain National Park, among many.

The weather is another factor that might entice you to move to Denver. This sunny city is the ideal place for those who love to stay outdoors or play sports in moderate temperatures. Denver also offers potential visitors the chance to live and work in a metropolis with amazing natural views. In fact, Denver’s city structure allows you to walk from your office down to the nearby bar and back to your home without using any mode of transportation.

With its colorful culture and surprisingly amazing weather, you’ve got plenty of reasons to love Denver. Settling down and buying a home in the Mile High City will no doubt give you plenty of time not only to enjoy its various charms.

Home Loan Homework: Before You Apply

With the fate of a future dwelling on the line, making sure that you come out the winner when you apply for a home loan is crucial. In order to ensure your success at securing a home loan, use the following tips to improve your chances before you even apply:

Obtain a current copy of your credit report. When applying for a home loan, any decisions regarding your terms will be based on the available data. Obtaining a current copy of your credit report gives you a chance to correct information that might leave a negative impression with the lender.
Pay back any outstanding debts. Armed with your credit report, you should be able to find any outstanding debts that weigh down your credit score. Additionally, if you find any errors in your credit report, clear them up with the credit reporting agency to further raise your score.
Avoid borrowing any money or buying big-ticket items at least several months in advance of applying for your home loan. Treat the home loan as first priority while you haven’t yet closed the deal for it.
Make sure that long-term employment is included in your credit file. This should show the lender that you’re financially stable and will be able to pay your dues on time.

Get the Home You Want with a Mortgage Broker

Many want to have their own home, but only a few can afford to make that huge investment. When you are looking for a reasonable loan to get the house you’ve always wanted to buy, a credible mortgage broker will surely come in handy. You will be offered with practical options, particularly when you are self-employed or have a poor credit score.

A mortgage or home loan is a serious financial commitment that might get you in trouble when done inappropriately. You will need a professional who understands the ins and outs of getting mortgage so you can move into that property as quickly and stress-free as possible. Knowledgeable mortgage brokers can help you choose the type of loan suitable for your needs, personal circumstances, and financial capacity.

Many people make the mistake of purchasing a home without considering the aid of mortgage professionals. As a result, they are faced with costly worries that put their investment at risk. While you may also consider going for bankers or direct lenders, the exclusive services of a loan arranger can make it possible for you to experience hassle-free and cost-effective homeownership.

Nevertheless, do your best in locating a truly reliable mortgage broker. Research until you can find qualified mortgage arrangers who can reduce your chances of lender refusal. Your broker should deal with all the necessary legwork on your behalf and provide guidance on avoiding costly pitfalls.

Finding The Right Mortgage Lender

Purchasing a home with cash is almost impossible for many people. However, with home loans offered by mortgage lenders, buying a home becomes financially easier. All it takes is finding a reliable mortgage lender to get the chance to secure your dream home, with an affordable upfront payment and reasonable monthly dues. The question is how do you find such a lender?

Mortgage lenders are key-players in the housing industry, and are surely easy to find in a huge city like Denver. To identify a reliable one, experts recommend sitting down with at least three of these lenders and listening to what they have to say. Generally, a reliable mortgage lender will discuss how you can get the loan while improving your credit at the same time.

Like any other business transactions, a mortgage deal comes with documents that contain jargon. If the lenders are sincere in helping you get a good loan program that suits your need, they will present the terms and conditions in ways you can easily understand. Additionally, they will set expectations upfront and not lie about the sometimes difficult process you have to go through.

As the process and the technicalities involved in finding the right lender could be very tedious and time-consuming, the better alternative would be to work with a reputable mortgage broker. With their network and extensive knowledge of real estate conditions in Denver, reliable brokers can connect you with a lender with the right loan package for your situation.

Borrowers Told to Get Denver Home Refinance as Mortgage Rules Tighten

"Market experts, however, advise homeowners to check if they qualify for Denver home refinance now, even if they didn’t a year ago. After interest rates spiked and reached a two-year high in July, the current rates on fixed mortgages have declined, making it an ideal time to explore the best options. Professional mortgage brokers like The Home Loan Arranger have decades of experience in taking homeowners’ individual situations and looking for a home refinance deal that is guaranteed to suit them. In early 2014, homeowners hoping to lower their interest rate or shorten their current term might be at a loss. Lenders will be much more selective and borrowers will need to cross more hurdles in order to get a mortgage that they could have qualified for a year ago. In such a situation, contact a reliable mortgage broker in Denver to assist you before it’s too late."

http://www.thehomeloanarranger.com/borrowers-told-get-denver-home-refinance-mortgage-rules-tighten/