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I get the player -- and just at the bottom of the players -- comments just click on its very easy sign up once and then.
You can start the comments in this is he -- where we see them coming and I'm currently a renter.
Thinking of owning a Condo to take advantage of the housing market but should I reconsider.
Or do I have an advantage down this market to get a good rate.
On a mortgage so someone moving from renting to to buying a in this market what what one of the factors that go into that decision -- actually to get things or not.
-- -- get a great rate right now which can also get a great deal on homes because of the inventory that's out there.
The -- markets a tough one right now because that's been hit probably more severe than most of the other type of homes that are out there but.
Certainly if you're looking for home today if you're if you've never owned a home now is a great time to consider that because.
Here's what's happening a lot of people -- waiting thinking probably doesn't go down more in the next six month right which probably will happen but interest rates could at the same time go up.
So what you end up gaining in value you're gonna lose in monthly payments because your interest rates go up.
I would say right now is a good mix were at very low values were at very low rates it's a great time to.
I -- home today and 8000 dollar tax credit for first time homebuyers in the same as -- depending upon your income -- some -- question -- intimated -- -- -- the income requirements on that -- 150000.
Dollars below -- 150000 dollars per couple below 75000 dollars for a single and then suddenly cut -- for the tax breaks is the same way right I got just making sure got some great questions from.
I -- yet again what you asked warrior woman now cast and -- file a couple of and we got married -- didn't.
You're talking about -- that score is that that's the end all be all for qualifying for a mortgage.
What else now are -- lenders looking at these days that they might not have is it your job.
Security and let me Durkin and I have a question that when I hear dating because -- -- a question from -- that road and set my credit score is 814.
-- I completed my third request for -- refi in the -- market.
You know what -- -- can -- -- best -- -- -- companies and their rates -- a look at I have a credit scoring it is that really the only thing they're gonna be let it out guesses as day and mentioned.
There there are four criteria -- letters look at collateral.
Credit capacity character.
Collateral is the first and foremost that that is the value of the property against the mortgage balance to see if there's enough happening to work -- to be able to help the bar that's the first thing.
But one of the things that that consumers can do today to really help themselves a lot is.
Know what your property values -- not based on what you think it should be -- but what actual homes are selling for like yours so that when you go into that you have a good idea about that.
There's other sites like cyber homes handle and zillow is another while we can check now they're not completely accurate but at least -- give you an idea even an -- if you take that talk to a local realty get a better handle on that.
So first -- having that equity second is making sure that your credit is okay.
Michael scores are still very important.
He used to be that you know two years ago almost regardless your -- of -- enough equity and get a -- today.
You have to be pretty much over six point in most cases 586.
Point there're still some programs out there below 580 is we're really is difficult right now.
Which is unfortunate for consumers today if that's correct right now -- we see some changes.
Capacity on your job is critical you have to have verifiable income and you have to make sure that it steady income they're gonna ask a lot of questions about that.
If you take those factors those all -- up to the character piece which is the long term stability of what that -- can do so.
That's what lenders have a look at the more prepared we -- consumers in going to that more transaction.
The more successful we're going to be giving that refinance for less prepared you are the more scrutiny that fall under and the left -- to get -- --
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