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Blog postGreetings readers! Long time no blog, sorry about that. What a ride! This year has been quite an amazing experience! I apologize for not posting more often this year. With the success of my #1 bestselling book (Thank YOU readers!), being nominated for a Pulitzer Prize in non-fiction literature, TV & Radio appearances, teaching first time home buyer seminars and of course serving my clients as a licensed mortgage loan originator I have been a bit busy. I have had the privilege of
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Blog postOn December 16th, 2016 Chairman Janet Yellen announced that The Board of Governors of the Federal Reserve (Head of the Bank of the Banks) were raising interest rates. http://www.federalreserve.gov/newsevents/press/monetary/20151216a.htm
Chairwoman Janet Yellen is the first woman to hold this position. Chairwoman Yellen took over the position from Ben Bernanke and was sworn into her office on February 3rd, 2014 after the senate confirmation in January 2014.
The Prime Rate a -
Blog postWhat can you really buy for your money? Well, it depends on where you are buying and what type of property you are buying. This can vary greatly from state to state as well as from the city to the suburbs. I'm a big proponent of considering your future housing needs as well as your current financial situation before you decide to get pre-qualified and start your new home hunting. There are so many factors to consider, such as how long you are going to stay in your area, do you plan on star
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Blog postTRID execution is quickly approaching! What is TRID? TRID stands for TILA (Truth-In-Lending) RESPA (Real Estate Settlement Procedures Act) Integrated Disclosure. TRID was delayed earlier this year, pushed back from an August 1, 2015 start to this week.
What does this mean to you? TRID brings with it additional timelines designed for consumer protection and new forms. Expect your home purchase process to slow down a bit. From what I'm hearing, expect the typical closing time to -
Blog postPublished again! Here are 5 Common Rent To Own Mistakes You Don't Want to Make.
http://www.investopedia.com/articles/personal-finance/083115/avoid-5-most-common-renttoown-mistakes.asp
Grab our new kindle version of my #1 Best Seller on Amazon.
For more mortgage tips check out our website www.bestmortgagebook.infoFor video mortgage tips and tools subscribe to our YouTubeChannel: https://www.youtube.com/c/ElysiaStobbeMortgage
Follow Elysia on Twit -
Blog postThis is a big week for economic news, particularly when it comes to interest rates. This Wednesday and Thursday, The Federal Reserve will meet to decide if the economy is stable enough to raise interest rates. The Federal Reserve has chosen NOT to raise short term interest rates for the last 7 years. Yes, 7 years! Why is there a buzz that The Fed will raise interest rates now? There are several signs that our economy has stabilized, the first of which is the unemployment rate. There's lots
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Blog postHow do you decide if you want to be a landlord or not? Well, there are several things to consider...first of all, how active do you want to be in your investments? How active should you be in your investments? If it's not your full time job, you still need to pay attention to your investments. This includes your stocks, bonds, retirement accounts, real estate investments, etc, where ever your money is kept. If you don't pay attention to it, who will? If it's not your full time job, even more rea
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Blog postHow does the economy impact interest rates? Oil, stocks, bonds, Federal Reserve Chairman Yellen, flying monkeys...how do these factors play out in regards to interest rates? This is a hot topic right now, as reported by CNBC's Trading Nation this morning.
Well, you can watch a plethora of TV shows, read a ton of newspaper and blog articles. Or you can consider interest rate as merely one factor in your choice to buy a home.
I think that interest rate is an important fac -
Blog postRich Rosa, co-founder and co-owner of Buyers Brokers Only, LLC asks “Is a Lack of Understanding About Mortgages Holding Back Home Buyers?”
Possibly….this is one of the reasons I wrote my book. The mortgage process is confusing to say the least and whether you’ve never applied for a mortgage before or have multiple mortgages, the more you know about the process, the better. I believe that an educated consumer is our best client. An educated consumer asks better quality questions and is more -
Blog postTeresa Mears of U.S. New & World Report, Money has written a great article about the documents needed when applying for a loan. Thank goodness someone else is talking about this! I can’t emphasize enough how much documents impact your loan timeline as well as your loan approval.
While this may seem more boring and makes you want to Stick A Fork In Your Eye, documents can make or break your loan. With documents, the devil is in the details. You will submit your asset accounts -
Blog postJust when you thought the mortgage environment was safe….Oh NO! According to USA Today Interest Only loans are back! This can be seen as both a good and bad thing. The fact that Interest Only loans are being offered means that the higher ups in the lending world think that the real estate market will stay flat or go up. The fact that banks are betting on that reminds me of 2006, that makes my insides flip and that’s not good.
What’s an interest only loan you ask? I’ll tell you…An Int -
Blog postThe stress of buying a home is right up there with death of a loved one, getting married or divorced. Moving is a life stressor and a major contributor of mental and physical disease according to HealthCentral.com. Add to that you can lose hundreds of thousands of dollars in the biggest purchase of your entire life and you can be stressed out if you don’t know what to avoid!
I wanted to share with you some of the information I presented last month at the FL Times Union Home Buyers Exp -
Blog postWelcome to July. It seems that it is a seller’s market, with about 5 months of inventory available. Once this surpasses 6 months supply we may see a transition to a buyer’s market. But for now, the sellers have the upper hand.
What does this mean for you? Well, it could mean higher sales prices, bidding wars and less contingencies. What’s the best way you can be prepared?
As always, I recommend getting pre-approved instead of pre-qualified. This lets you know your true b -
Blog postWow! What a ride! I cannot thank you enough for your support. My book launched on Friday and became the #1 New Release in Mortgage Books on Amazon. Amazon likes it so much they just reduced the paperback price to $8.99! Grab your copy here: www.elysiastobbehomeloans.com
I consider it a privilege to share this information with you.
I wanted to share with you some of the questions I got yesterday at the FL Times Union Home Buyers Expo. Over 1500 people att -
Blog post1. If you qualify for a mortgage you don't have to use your hard earned cash to buy your new home. Now that's sexy!Why use your cold hard earned cash to buy your next home when you can use the bank's money? First Time Home Buyer's can put down as little as 3% for a down payment now. For example, if you are buying a $300,000 home, 3% is $9,000. Spending $9,000 sounds a whole lot better than spending $300,000, right? 2. Mortgage Interest Can Be Tax Deductible. Now t
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Blog postWho better than Gary Keller, founder of Keller Williams and Jay Papasan, VP of KW Publishing to share their opinions about mortgages…this is an excerpt from my new book, How To Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye™
But before we get to that, here are my top 3 reasons to utilize a mortgage to your advantage when buying a home.1. Who wants to part with their cash?No one. Why would you? If you can keep your cash in the bank -
Blog postDid you serve in the Military? Did your spouse serve in the Military? Thank you to our armed services who protect our country! I am grateful to each and every one of you who have served. In honor of Memorial Day, here is a special excerpt from the VA Loan chapter in my book, How To Get Approved for the Best Mortgage without sticking a Fork In Your Eye™. This is a piece of a 30 minute interview with Michael J. Frueh & Mark Connors. Interview With Veterans Benefits administrat
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Blog postWe are in the midst of Spring Home Buying season and there are quite a few positive indicators that it’s a good time to buy a home. There are many factors to consider before deciding if it’s a good time to buy a home, such as the economy, interest rates, supply & demand, the cost of renting vs. buying and your own personal situation.
Where are interest rates?Interest rates are hovering around all time lows (again!) right now, so that’s one important factor to take into acc -
Blog postTurns out 20% of homeowners consider their home unhealthy according to Healthy Home Study conducted by Houzz. A home inspection might help you find out if your new home is healthy before you buy it.
Home inspections are required on some loan types, but not all. However, it’s always a good idea to get a home inspection. If you’re buying a house that costs hundreds of thousands of dollars, why wouldn’t you spend $400-$500 on a home inspection?
What’s a Home Inspection -
Blog postAs the Spring home buying season heats up, I want to share with you 3 mistakes that can cost you BIG MONEY. I know it's natural to go house hunting, tour your dream home and then meet your realtor to write an offer. But before you embark on that american dream to home ownership with enthusiasm and your check book, be sure to plan correctly. Here are my top 3 Monumental Mortgage Money Mistakes to Avoid that can save you thousands of dollars:
☑ Not getting pre-approved☑ Not -
Blog postHow many people go to work for you when you get a mortgage?Well, this number may be much higher than you think. The obvious suspects are your lender and your real estate agent.
Let’s add to that all the people on their team. In addition to your lender’s loan officer, there’s also their processor, underwriter, closer, doc preparation team and the post closer to name a few more you may not have known about. On your real estate agents team they may also have a closing coordinator -
Blog postCash is King. Well, maybe not if you want to buy a home. According to the recent Washington Post article, The case for not paying off yourmortgage by retirement by Jonnelle Marte there’s good debt and bad debt. Jonnelle considers a mortgage good debt. Cash is liquid and you can’t access your cash if it’s tied up in your home. Of course, there’s also the added benefit of deducting the mortgage interest on your home. There are quite a few mortgage options now that
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Blog postSpring is here and there's interesting home advice out there. I have helped clients with several purchases this week - watch those bidding price wars! Holly cow those can be rough! After an uptick in rates, they have dropped back down so refinances are keeping us busy too. What's all that mean to you? Well, with Spring comes home buying advice. The Consumer Report article shaking up the mortgage brokers by telling consumers to go to a direct lender is not a shock. However, there's so much more t
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Blog postHow many of you use Zillow or Trulia?
What's so great about these real estate websites?
Should you use them as part of your home buying process?
For one reporter's opinion (as well as my comments!) check out this article:
zillow-vs-trulia
For more mortgage tips, tools and information check out bestmortgagebook.info
Subscribe to our youtube channel here: https://www.youtube.com/watch?v=YsL6BuJ8b-M -
Blog postDo you ever wonder how credit score affects your mortgage interest rate and fees?
1. Your Interest Rate May Be Higher Lower credit scores may be subject to higher interest rates and finance charges over the course of any loan. The website myfico.com offers a mortgage payment calculator that is updated regularly to show consumers how their FICO score can affect their interest rate. According to myfico.com, a credit score of 620 versus 720 on a 30-year Fixed Rate Mortgage of $300,000
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