buy a home

How to Buy a Home When You Have Student Loan to Pay

Should you buy a home while still paying for student loan? If you’re currently working or was out of college for a long while, you might be thinking about buying your own home. However, the dilemma of still having a student loan to pay might hold you back. Are you going to finish paying the existing debt first? Is it …

owning real estate

What are the Tax Benefits of Owning Real Estate?

People who have purchased their first home  are usually elated that they own a prime piece of real estate. Later, when their first tax season as homeowners rolls in, they realize (and celebrate!) the full impact of their new tax benefits. What are the tax benefits of owning real estate? Deduction in Mortgage Interests If you have taken out a loan in …

homebuyer tax credit

Do You Need to Pay the Homebuyer Tax Credit?

When the First Time Homebuyer Credit (FTHBC) was first made available, home buyers snapped at the chance to purchase a new home in order to avail of tax credits of between $7,500 and $8,000. While this federal program is no longer available, if you’ve recently sold your first  home, there may be tax implications. Read on! What is the First …

Low Mortgage Rates

Interest Rates Lowest Since November 2013

Mortgage applications rose 3.6% last week, spurned on by the lowest interest rates in the past six months.  According to the Mortgage Bankers’ Association,  these applications reflect both refinance and purchase applications. Purchase applications are considered the leading gauge for home sales.  They were 1% higher than the previous week, but 12% lower than year-over-year applications. Interest rates for 30 …

Inventory Rising?

Flood of Housing Inventory 2014?

Spring 2014 has been a trying time for Boulder County buyers:  little inventory, escalation clauses, multiple offers and losing properties has been the bane of many buyers’ existences. Is a change on the horizon?  According to a recent survey by Lending Tree, our dearth of inventory may not last long.  Of those surveyed: 63% have a positive outlook on 2014′s …

Mortgage Rates and Home Sales

2014 Mortgage Rate Swings May Impact Home Buying

In 2013, increased mortgage rates resulted in decreased home sales, as shown in the graph left.  This trend could continue in 2014, especially if there is a significant increase in mortgage rates. Although mortgage rates are still at historic lows, Freddie Mac recently posted 30-year fixed rates around 4.48%, the highest rate since September 2013. This is interesting, given that …

FHFA

2014 Mortgage Fees Postponed

 The US Federal Housing and Finance Agency, which oversees mortgage giants Freddie Mac and Fannie Mae, has postponed new mortgage fees that were scheduled to take effect in 2014. The fees are meant to safeguard banks against defaulting borrowers. Incoming FHFA chief  Mel Watt wants more analysis done, to see how the substantial fees and resulting increase in mortgage prices …

Smaller Butt In Jeans

Does This Mortgage Make My Butt Look Fat? Or What Size Mortgage Is Right For Me?

You wouldn’t buy your jeans 4 sizes too big.  Is your loan 4 sizes too big? Analyze your budget and goals well before house hunting.  Is there a wedding, college tuition, or daycare on the horizon that could change your budget?  Given future expenses, what size mortgage will make you feel footloose and financially free?   To help you answer …