Fairway Independent Mortgage Corporation - Company New England Region USA

Purchase rates remain at record lows, so if your clients need a pre-approval, please have them contact us, we are happy to help. Many are daydreaming about homeownership, so much so that last Thursday Zillow had record daily users on its app, 2.17 million to be exact! With mortgage rates at record lows, now is a great time to purchase for those app users who want to move forward. In addition, many economic experts predict a 20% GDP growth in the third quarter of 2020. Despite all of the uncertainty, now is a great time to move into homeownership. Now where are all the homes for sale…? More good news for housing markets, mortgage forbearance has dipped to its lowest since April. Of those who were in forbearance only half have opted to extend it. Given the equity of current homeowners, it is predicted that fewer of them will be impacted by current economic circumstances than were in 2009. Thus, If you are interesting for home refinance rates in USA then contact to us! Finally, you may h...

As you may have heard, MA will once again be having a tax free holiday August 29/30. This means on all purchases, the sales tax will be waived! This is great especially for large purchases, like, maybe a car, or say, furniture for a new home-BUT-that’s where there could be a problem! If you have clients with loans in process you do not want them to do anything that could impact their credit score or increase their debt to income ratio by using existing credit cards or opening new credit cards to make large purchases. If your clients must make a purchase or want to take advantage of the tax free holiday before their closing, here are some alternatives: Use a debit card or pay cash Have another person put it on their credit card (as long as it is not linked to client’s SS number) and set up a repayment plan. Be sure to have this conversation with your purchase clients before Aug. 29th. In other credit news-from April 2020 through April 2021 everyone can check their credit report weekly, ...

 We’re not talking about rest & relaxation, we mean Renovation & Reverse. Both of these represent very different but potentially beneficial opportunities for current or future home owners. Reverse Mortgage : Today’s reverse mortgages have seen many improvements, including oversight and regulation to avoid issues that occurred in the past. However, it is important to understand that a reverse mortgage is not a financial windfall to be spent quickly, but part of a long range financial strategy to maximize equity in a home. A reverse home mortgage , or Home Equity Conversion Mortgage (HEMC) is a way to turn equity in a home into tax-free cash without having to make monthly mortgage payments. These loans are government insured and available to home owners over 62 years of age. Instead of monthly payments, the loan is repaid in one lump sum once the last borrower leaves the home. Borrower is expected to continue paying property taxes, insurance and to maintain the home. For home...

A knowledgeable lender should guide you through each step of the loan process: answer your questions, explain options and costs, keep you informed, and make sure the closing happens on time. First step, let’s make sure you are pre-approved, then, read on to better understand what happens next. We look forward to working with you on your home purchase. Step 1: Get Pre-Approved A pre-approval determines how much money you will be eligible to borrow for a mortgage, based on the required documentation you provide and your credit history. Check out our Document Checklist for the basic information required. Step 2: Processing Once you are pre-approved and find a property, your loan file and all documentation is submitted to the loan processor. Once your loan file is completed, the processor submits it to underwriting for approval. Step 3: Underwriting The underwriter reviews your loan file to ensure all guidelines are met for the specific loan program and issues a loan decision. Once your mo...

The home market is healthy given the tight supply of existing homes for sale, low mortgage rates, pent-up demand, and the beginning of a shift by city dwellers to suburban settings. Rob Chrisman, Mortgage Expert & Commentator So true! We are issuing more pre-approvals this year than last. Have your clients call us to get started on their path to home ownership. This week we share our favorite real estate blogs to keep you informed and hopefully, inspired. The Close hosts various writers covering topics ranging from real estate marketing, lead generation, and technology, to team building strategies. Housing Wire is focused primarily on the lending industry but offers a broad range of helpful real estate related information. Bernice Ross at Real Estate Coach offers coaching and a weekly newsletter full of good information and guest contributors. Paid subscription gives access to more content. The KCM Crew offers shareable content and monthly industry updates. The National Association...