Key Mortgage Corporation

With the continued improvement in the housing market, Conventional Mortgages are now allowing cash back to the borrower on refinances up to 85% Loan to Value. This represents an easing of Mortgage Insurer’s prohibitions to cash back refinances which were eliminated several years ago at the beginning of the housing crisis. There are a few […]

In 2011, the number of Home Foreclosure Filings decreased by 33% to their lowest level in 4 years. While a siginficant reason for this is due to the overall stabilization of the Housing Markets, it is also attributed to the deliberate slowing down of Foreclosures in wake of the Robo-Signing Lawsuites that occured in 2010. […]

Fha has very recently announced that it is extending the availability of the Waiver relating to property flipping through 2012. As a result of the high foreclosures that have been taking place, FHA, through the regulatory waiver, encourages investors specializing in acquiring and renovating properties to renovate foreclosed and abandoned homes and resell them to […]

Overall, the summary of 2011 in the Twin Cities RE Market was increased sales and decreased inventory. Thankfully, this is positive for our Real Estate Market. According to NorthstarMLS, for the week ending December 24th, New Lstings decreased 9.6%, Pending Sales increased 48.4% and Inventory decreased 24.4%. This trend is expected to continue in this […]

The recent Conventional Refinancing enhancements announced this past fall have started to take effect. Improved interest rates (pricing) and reduced appraisal requirements have already gone into effect this month. Further betterments will be forthcoming in the next 60 days all of which are aimed at allowing homeowner’s to take advantage of today’s outstanding interest rates. […]

The average rate on the 30 Year Fixed Mortgage fell below 4 percent for just the second time in history. Freddie Mac said Today the rate on the 30 Year Fixed Mortgage fell to 3.99%, down from 4 percent last week. Five weeks ago, it dropped to a record low of 3.94 percent, according to […]

Yesterday, President Obama announced relief for current Homeowners in an effort to allow them to take advantage of today’s low mortgage rates. With the decline in property values over the past several years, many people have not been able to refinance because their home was underwater. Obama’s new plan will allow people to refinance even […]

Mortgage Rates for 30 Year loans recently fell to the lowest level on record, reducing borrowing costs for home buyers as unemployment and foreclosures continue to effect demand. Current Mortgage Rates are the lowest since Freddie Mac began recording data back in 1971. Contact John to check in on your Home Financing..

Today, in a move to stimulate the economy, the Federal Reserve announced the launcing of Operation Twist. With this move, the Fed is selling $400B in shorter term bonds and reinvesting the proceeds in longer term bonds. The goal is to spur borrowing via signficantly lower interest rates on all types of loans. Watch for […]

Is an appraisal the same as a Home Inspection? No, it is not. The appraiser determines the value of your home by inspecting it. On the other hand, the Home Inspector inspects the home for any damages to the physical structure or the mechanicals. The Home Inspection is most commonly utilized when you are considering […]