How Interest Rates Impact The Price of House You Can Afford

Freddie Mac’s last Primary Mortgage Market Survey reports that interest rates for a 30 year fixed rate mortgage are currently at 4.61%.  The interest rate that you lock when buying a home, not only impacts your monthly payment but also your purchasing power – or price of home you can purchase. Purchasing power, is the Read More …

Home Loan Application. Why So Much Information Required?

We are commonly asked why so much borrower information is required by the financial institutions for a home loan application when purchasing a house today. These days the financial institutions need to understand everything about our finances, and can sometimes call for three different sources to validate each and every item on the application form. Read More …

4% Down Payment Grant for Washoe County

The Nevada Housing Division recently announced the “Home is Possible” Down Payment Grant Program. This is a 4% grant towards down payment and closing costs for qualified buyers. Some of the qualifications are : Minimum credit score of 640 for government insured loans and 680 for conventional. Income below $95,500 Home price below $400,000 More Read More …