https://www.housebeautiful.com/design-inspiration/real-estate/a40325606/interest-rate-spike-buyers-market/ […]
Turn Renters into Buyers
The myth that buyers need 20% down to purchase a home may still be preventing renters from entering the home buying market. Even with rising interest rates, now is still the time for renters to become homeowners. Afterall, rents are rising at an alarming pace, so that new mortgage payment may still be less expensive […]
3% Down Program Makes Housing Affordable
Borrowers may qualify for 3% downpayment financing with Key Possible – and it’s not just limited to first-time homebuyers. Some of the highlights of this special financing are: Your borrowers can have additional financed properties. A non-occupant co-borrower may help the buyers qualify for a one-unit property. Downpayment sources are less limited – including family […]
The Short Term & Long Term Impact of Increasing Interest Rates
Two weeks ago, the federal reserve board voted to raise the fed funds interest rate .75% and there’s talks of another hike at the end of July to slow down inflation. One of the strategies the federal reserve can use to tame inflation is to increase interest rates to drive down consumer demand for big […]
What have we learned 6 months into condo financing changes?
Since Fannie Mae and Freddie Mac updated condominium safety and soundness requirements and rules in December 2021, we’ve learned a lot. We wanted to share the ways we can help navigate this topic as well as best practices for you to use to help make you the experts that consumers gravitate towards when it comes […]
Your buyers can cut days off the traditional loan process and get approved faster!
Our new KeyExpress process lets your buyers go directly to underwriting, cutting days off the traditional loan process and strengthening their position in this competitive market when they’re ready to make an offer. With KeyExpress, clients who provide complete documentation right away will have their loan fast-tracked directly to an underwriter who can approve the […]
The ins and outs of buying a second home
Vacation home financing has become a hot topic at Key Mortgage. We have licensed loan officers in popular weekend getaways states like Florida, Wisconsin, Michigan, and Indiana. Who hasn’t dreamed of a second home in Lake Geneva, New Buffalo, Michigan City, or Naples? Financing a vacation property differs from a primary residence so we figured […]
Can Changing Jobs Prevent You From Getting a Mortgage? Esther Phillips weighs in
https://www.realtor.com/advice/finance/can-changing-jobs-prevent-you-from-getting-a-mortgage/ […]
The ins and outs of a FICO® Score
FICO® Scores are used by virtually all lenders to make decisions about credit approvals, terms, and interest rates. There are five categories of credit data that make up this score and all are weighted differently: Payment history (35%) Amounts owed (30%) Length of credit history (15%) New credit (10%) Credit mix (10%) Let’s say you […]
Appraisal waiver vs. appraisal wavier
Appraisal Waiver is a term frequently discussed in Baird & Warner office meetings. The conversations surrounding this term vary because the term means something different in finance than it does in sales. We’re here to break down the differences for you. Appraisal Waiver in Sales With home prices rising, buyer’s agents are getting more creative […]
