One of the best signs that the housing market will only continue to increase is the number of mortgages in forbearance. The team at Peoples Choice Mortgage is here to give you the latest mortgage forbearance numbers and what they mean for the housing market.

There are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation. And by simply stating the word “wealth creation,” many Americans will automatically disqualify themselves from a candidate. However, as a lender that has a strong foundation in believing in building a future for yourself and your family, we pride ourselves in helping everyone we can create their path to homeownership. Homeownership has always been the first rung on the ladder that leads to forming household wealth

There is a lot to the American Rescue Plan and many of its provisions will have an impact on the real estate market. Whether you own a house, are looking to buy a home, or are thinking about refinancing your mortgage, the details of this legislation is relevant to you. The team at Peoples Choice Mortgage is here to highlight some of the provisions of the American Rescue Plan and what they mean for the housing market.

For the first time since July of 2020, mortgage rates climbed about 3%. Chances are very slim that rates will drop any lower and might actually increase. The team at Peoples Choice Mortgage is here to discuss what rising mortgage rates mean for homeowners and home buyers.

Many are under the assumption that you have to have 20% for a down payment in order to qualify for a mortgage. This is not true. There are a lot of mortgage programs where you do not need a 20% down payment. However, while you don’t need a 20% down payment, it is helpful.

… It is important to sometimes take a step back and take a broad assessment of important economic trends and data. This broad picture can go a long way toward helping us understand what is happening with the real estate market and what is on the horizon. With that being said, here is an economic snapshot of data and trends that plays a role in the future of the mortgage and housing market.

Rock bottom mortgage rates have been the fuel for the real estate market’s revved up engine. Since that is the case, what does the future hold for mortgage rates and what does it mean for the market? The team at Peoples Choice Mortgage is here to walk you through some of the important things to be aware of when it comes to mortgage rates.

…The truth is that buying a home is not a financial burden, even if you need a mortgage to do so. Instead, buying a home is a way for you to build financial wealth. Why is that? The team at Peoples Choice Mortgage is here to go deeper into the decision to buy a house and break down the financial power of home ownership.

Current homeowners and new homebuyers have taken advantage of low mortgage rates and are benefiting from rising home values. Real estate naysayers were expecting the housing market to crash because of a tsunami of potential foreclosures that would flood the market with a bunch of cheap houses. This foreclosure wave never materialized and recent good news about foreclosures means it won’t anytime soon

…you should not let the sticker shock of today’s home prices make you think that you cannot afford to buy a home. There is more to home affordability than its cost and the team at Peoples Choice Mortgage is here to tell you why.

If you are one of those people who have been thinking about buying a home, but haven’t acted on it, it is time to stop delaying. Waiting any longer to buy a new home can cost you significant money in the short term and long term.

A combination of forbearance extensions, foreclosure moratoriums and increased demand for home purchases led to a housing boom instead of a market crash. Home prices increased across the United States in 2020. This has some asking whether or not we are in the midst of a real estate market bubble.

The ways in which mortgages are applied for, serviced and even terminated have been updated to accommodate the needs of the pandemic. In fact, things are still changing. The team at Peoples Choice Mortgage is here to look at how the mortgage process has adapted to the pandemic.

A lot of people have this false belief that owning a home is never possible because of the wealth disparity between homeowners and renters. However, this disparity is misleading. The reason why this disparity exists is not because only those with wealth can buy homes. The truth is you build wealth through homeownership.

Second homes and investment properties are not the same. They serve different functions and applying for a mortgage on a second home is different than an investment property. What are the differences between them in terms of their function and the mortgage process to buy them?

Rock bottom mortgage rates fueled a real estate boom and higher home prices. What will happen to home prices for the rest of 2021?

One source of confusion when it comes to buying a home or selling a home is all the different outside people you need to evaluate your house. Do you need an appraisal and an inspection? Are they the same thing? What is the difference? The team at Peoples Choice Mortgage is here to clear up the confusion and give you some answers.

Anticipating a brighter economic future, interest rates and thus mortgage rates have begun to increase. In an effort to avoid missing out on mortgage rates that are still near historic lows, many are applying for home loans right now. However, just because you have completed your application or have even received an approval, it doesn’t mean you’re out of the woods, yet. There are still some things you shouldn’t do after your mortgage application.

Low mortgage rates made 2020 great for homeowners in another respect. It presented the opportunity to refinance their mortgages. Where does the refinance market stand in the beginning of 2021?

The changing needs placed on homeowners by the pandemic has caused home buyers to want more room for themselves to work from home, school from home, and exercise from home. Also, more and more home buyers were living with more people. One of the biggest trends of 2020 that will probably continue through this year is the rise in the number of multigenerational homes.