Will Mortgage Rates Drop Below 5% in 2026? | #CityFirstMortgage
Predictions suggest rates could drop to 5% by 2025, but uncertainties remain. Mortgage rates may decrease in 2026, with some forecasts predicting a drop to around 4.87% by January.
A millionaire landlord has 3 tips for anyone thinking of buying rental real estate right now
Marcia Castro Socas, an experienced landlord, emphasizes the importance of the landlord-tenant relationship in rental real estate. She advises against solely seeking the cheapest properties, as they may require unexpected repair costs. Castro Socas also suggests not letting market news…
Magic Mortgage Rate Revives Housing: Is It Under 6%? | #CityFirstMortgage
Experts believe the “magic mortgage rate” below 5.5% is necessary to boost home selling activity. Only 13% of homeowners would accept a rate between 6.5% and 6.99%, while 47% prefer 5.0%-5.5%.
Mortgage Underwriting: How Lenders Assess Your Risk | #CityFirstMortgage
Mortgage underwriting assesses credit, finances, and property value to determine mortgage application approval. Steps – Preapproval: Estimates borrowing capacity – Verification: Confirms income, assets, and credit – Appraisal: Matches property value to loan – Title search: Verifies legal ownership transfer
Saving to buy a house? Here’s where you should park your down payment money.
Saving for a home down payment can be daunting, with the average price of homes at $501,700 and median down payments at $64,000. To effectively save, consider options like high-yield savings accounts for flexibility and competitive interest rates, certificates of…
Rising Mortgage Rates Challenge Homebuyers Now | #CityFirstMortgage
Mortgage rates increased after the Fed’s 50-point interest rate cut in September 2024. Homebuyers hoped for relief, but mortgage rates remain well above pre-pandemic levels.
4 ways to lower your property tax bill
Property taxes are an unavoidable reality for homeowners, often increasing alongside rising home values. Last year's property tax bills surged by up to 30% in some areas. To manage these costs, homeowners can check their property tax card for errors,…
E-Mortgage Market Transformations Ahead by 2030 | #CityFirstMortgage
The e-Mortgage market is set for significant transformations from 2024 to 2030. Emerging opportunities and evolving trends are critical for competitive advantage in the e-Mortgage sector.
Don’t Wait for Lower Mortgage Rates! | #CityFirstMortgage
Increased competition: Lower rates will attract more buyers, increasing competition and making it harder to secure homes.Fewer concessions: As demand rises, sellers will offer fewer credits for closing costs or repairs.
How to get a mortgage with bad credit
Buying a house with bad credit is possible but may result in high mortgage rates. Those with scores above 580 could consider FHA loans or government-backed mortgages. Improve your chances of mortgage approval by increasing your credit score or saving…
