Six must-haves for mortgage approval

Interest rates are hovering around historical lows, and low interest rates increase affordability, making it easier for buyers to qualify. Yet stories of buyers waiting months to gain loan approval and home purchase transactions not closing on time due to lender’s strict underwriting are all too common. Some buyers are turned down for illogical reasons. …

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New loan limit would hurt home sales

Unless Congress takes action, the current loan limits will expire on Sept. 30 and the cost of a mortgage could rise significantly, especially in high-cost areas such as California. Making sense of the story More than 30,000 California families could face higher down payments, higher mortgage rates, and stricter loan qualification requirements if conforming loan …

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Pending home sales rise again in March

Video is from www.Realtor.org. Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors┬«. The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in …

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