What the Fed Rate Cut Means to You
The Fed has once again cut rates, this time by .25% – so what does this mean for you? Well, the Fed funds rate is the rate banks borrow from each other. When the rate is cut, it is done to help stimulate the economy and increase inflation. The Fed funds rate is…
Read More5 Things To Keep In Mind When Buying A Home During the Holidays
Buying a home during the holidays offers more benefits than most people realize – less competition from other buyers who may be sitting on the sidelines, lower rates resulting from cyclical slowdowns in the economy, sellers more motivated to sell, and more opportunity to see a home at it’s worst – more problems are apparent…
Read MoreWhy Do I Need Mortgage Insurance
Mortgage insurance (PMI) is often seen as a bad word in the mortgage industry because it is, after all, a cost to the consumer. No one wants to pay additional costs, but to really understand mortgage insurance, it becomes clear that mortgage insurance, or PMI, is a positive – for borrowers, for lenders, and in…
Read MoreBuying a House with No Down Payment
Home values have risen substantially over the past several years and are expected to continue that trend, at least short term. That means that for many individuals and family, the largest hurdle to home ownership is coming up with a down payment. Conventional loans typically come with a 3% down payment requirement, and FHA loans…
Read MoreThe Best Mortgage Term for You
Is the 30 year fixed rate mortgage the best loan? Yes! Is the 15 year fixed rate mortgage the best loan? Yes! Is the 10 year mortgage the greatest of loans? Yes! How can all 3 of these loan terms be the best? Well, they’re all the best option for different people. At MasonMac,…
Read MoreHow To Get the Best Mortgage Rates
Mortgage rates have gotten a lot of airtime in the media recently. Currently near all-time lows, many people are shopping for a new mortgage right now, and rightly so! With the opportunity to reduce monthly payments, access equity to pay other bills or complete renovations, or reduce a loan term, it’s a great time to…
Read MoreThe Shift to a 45 Day Home Buying Process
Buying a home? Want some advice that’ll save you a ton of stress and make the home buying process more enjoyable? Make your contract date longer than 45 days. Your agent doesn’t think that’s possible? Send them this blog : ) The mortgage industry is currently in the middle of a business boom due…
Read MoreVA Mortgage Loans Getting More Restrictive
Predatory lending. Churning. Taking advantage of borrowers. These are words and phrases that should be only distant memories of the pre-housing crash mortgage market of the early 2000s. Unfortunately though, they’ve all been brought up in today’s marketplace as well, specifically when it comes to VA mortgage loans and recent actions taken by Ginnie Mae…
Read MoreDid the Fed Lower the Interest Rate?
Today it’s anticipated that the federal reserve will cut rates by a margin of .25 to the Fed funds rate. What does that mean? Well, the Fed funds rate is the rate which banks borrow from each other in the federal reserve system. When the Fed cuts rates, it’s usually to stimulate the economy by…
Read MoreMortgages for Millennials
Is there a mortgage program for millennials? With all of the headlines, media quotes, and information out there, you would think mortgages for millennials would incorporate a slew of products, programs, educational courses, and more. The reality, though, is far less fancy. While there are a ton of mortgages for millennials, the programs available…
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