Key Mortgage Corporation

Nearly 21 million Americans (29% of homeowners nationwide) own their homes outright, unencumbered by a home loan, according to a recent Zillow analysis of housing finance data. But the data is sliced and diced even more: among the nations 30 largest metro areas included in the Study, Pittsburgh(39%), Tampa(33%), New York(30%), Cleveland(29%) and Miami(29%) had […]

The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to exend the Home Affordable Refinance Program by two years to December 31, 2015. The Program was set to expire in December of this year. FHFA determined that extending the Program will provide borrowers additional opportunities to refinance. According to Ed DeMarco, acting director […]

After nearly 2 years of Mortgage Insurance Premium (MIP) increases, it appears that the FHA Program which is administered by HUD has reached financial solvency. Thus, future MIP increases have been placed on hold for now. This is good news for prospective home purchasers who seek to utilize FHA financing to purchase their home. In […]

According to Freddie Mac, this should be the healthiest spring homebuying season since 2007. “History shows us not all economic recoveries are crated equal and consumer confidence mirrors this fact. With the spring homebuying season upon us, the recent highs in the stock market are a welcome signal of better times ahead,” said Frank Nothaft, […]

The Minneapolis Area Association of Realtors (MAAR) market activity report for the week ending March 16, 2013 has found the following. New listings have increased 4.9%, Pending Sales have increased 11.9% while inventory has decreased by 30.1%. This confirms what many industry insiders are saying in that the Twin Cities RE Market continues to improve […]

New home sales jumped nearly 16% in January 2013 over their December 2012 level. According to the new home sales report issued this morning by the Census Bureau and the Deparment of Housing and Urban Development, sales rose on both a monthly and an annual basis in all 4 regions of the country. This factor […]

For REO foreclosed properties it is possible to waive the appraisal and mortgage insurance requirement. Over time, this can amount to thousands of dollars in savings. In addition, down payments as low as 3% are eligible for this on a Single Family Purchase utilizing a new Conventional Fixed Rate Mortgage. Check with me for more […]

Today, Congress extended the deductibility of Mortgage Insurance (MI) through December 31, 2013. The ability to deduct MI on one’s taxes expired the end of last year but has been renewed for another year by Congress today. This is hugely beneficial to the housing market in that it provides another benefit to Home Buyers while […]

With the continually improving economy and housing market, Conventional Loans with a minimum down payment of 3% are now available to those who have a Credit Score of 640 or better. To put this in perspective, several years ago, the minimum down payment on a Conventional Loan was 10% and required a credit score of […]

As Christmas is soon approaching, I wish you and your family a very Merry Christmas and a Happy New Year!