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Waupun Area Real Estate Blog

House to Home Properties LLC


Displaying blog entries 51-60 of 71

Applying For A Mortgage?

by House to Home Properties LLC

Don’t Let Fear Stop You From Applying For A Mortgage


A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage qualification.

For many, the mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need to have saved for a down payment (73% of all buyers made a down payment of less than 20%, with many buyers putting down 3% or less), a stable income and good credit history.

Throughout the entire home buying process, you will interact with many different professionals, all of whom perform necessary roles. These professionals are also valuable resources for you.

Once you’re ready to apply, here are 5 easy steps that Freddie Mac suggests you follow:

  1. Find out your current credit history & score – even if you don’t have perfect credit, you may already qualify for a loan. The average FICO® Score of all closed loans in September was 724, according to Ellie Mae.
  2. Start gathering all your documentation – income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional – your real estate agent will be able to recommend a loan officer that can help you develop a spending plan, as well as determine how much home you can afford.
  4. Consult with your lender – he or she will review your income, expenses, and financial goals to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval – a pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change), and demonstrates to home sellers that you are serious about buying!

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure that you are ready to take on the financial responsibilities of becoming a homeowner.

From Keeping Current Matters

Open House June 10th!!

by House to Home Properties LLC

Open House at W10202 County Rd F June 10th, 2017

CFPB Announces Two-Month Pushback of TRID Rule

by House to Home Properties LLC

RISMEDIA, Friday, June 19, 2015— The Consumer Financial Protection Bureau (CFPB) announced this week a proposal to push back the effective date of the TILA-RESPA Integrated Disclosure rule, which combines two mortgage disclosure regimes into one. The new date is set for October 1. The rule, originally set to go into effect August 1, has been making headlines for months, with feedback coming in from every end of the real estate spectrum that the start date was too soon.

The CFPB credits the two-month delay to an “administrative error.”

“We made this decision to correct an administrative error that we just discovered in meeting the requirements under federal law, which would have delayed the effective date of the rule by two weeks,” says CFPB Director Richard Cordray.

“We further believe that the additional time included in the proposed effective date would better accommodate the interests of the many consumers and providers whose families will be busy with the transition to the new school year at that time,” added Cordray.

“Clearly, the Bureau listened to the concerns that industry has for consumers,” comments Michelle Korsmo, chief executive officer of the American Land Title Association. “Consumers would be helped even more if the CFPB also announced a specific hold-harmless period for industry to understand how the forms will work in real life transactions. Under TRID, some mortgage lenders and settlement service providers may initiate additional risk-management tactics that could slow the closing process for homebuyers.”

Frank Keating, ABA president and CEO, concurs. “This extension will help protect consumers from disruptions during a traditionally busy period for home purchases,” says Keating. “It will also help to assure new loan origination systems and compliance software under development by lenders and the vendors on whom they rely will be adequately installed and debugged, and staff training completed, before the effective date.”

“The action announced today by the CFPB is a welcome step. NAR has long advocated the need to avoid implementing the new regulation during the peak summer selling season,” said National Association of REATLORS® President Chris Polychron. “REATLORS® appreciate that the CFPB has demonstrated an understanding of the need for additional time to accommodate the interests of the many consumers and providers.”

Copyright© 2015 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission.


We're on Facebook!

by House to Home Properties LLC

Like us on Facebook!

Like us on Facebook for more information on our listings, events, realtors, etc.

Vacation Home As a Tax Deduction?

by House to Home Properties LLC

Vacation home. Mortgage interest on your second home is deductible, just as it is for your principal residence. Property taxes can be deducted on any number of homes. If you rent the place for 14 or fewer days during the year, the rental income is tax-free to you. If you rent it for more than 14 days a year, you must report the income, but also may claim deductions for rental expenses.


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Mortgage rates ease for first time in a month

by House to Home Properties LLC

Mortgage rates ease for first time in a month

Borrowers rush to beat FHA premium increases

By Inman News
Inman News™

Mortgage rates eased this week for the first time in a month, as

signs of inflation remained subdued, Freddie Mac said in releasing

the results of its weekly Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgages averaged 4.8 percent with an

average 0.7 point for the week ending April 21, down from 4.91

percent last week and 5.07 percent a year ago.


This year, rates on 30-year fixed-rate loans have ranged from

4.71 percent in early January to a high of 5.05 percent in February.

The 30-year fixed-rate mortgage hit an all-time low in Freddie Mac

records dating to 1971 of 4.17 percent during the week ending

Nov. 11.

"Low inflation is keeping mortgage rates at bay," said Freddie

Mac Chief Economist Frank Nothaft in a statement. "The core

consumer price index rose just 0.1 percent in March, below the

market consensus forecast. The 12-month growth rate in core prices

was 1.2 percent, which is also rather low by historical standards."

Freddie Mac's survey showed rates on 15-year fixed-rate mortgages

averaging 4.02 percent with an average 0.7 point, down from

4.13 percent last week and 4.39 percent a year ago. The 15-year

fixed-rate mortgage hit a low in records dating back to 1991 of

3.57 percent in November.


Rates on 5-year Treasury-indexed hybrid adjustable-rate

mortgage (ARM) loans averaged 3.61 percent with an average

0.6 point, down from 3.78 percent last week and 4.03 percent a

year ago. The 5-year ARM hit a low in records dating to 2005

of 3.25 percent in November.


Rates on 1-year Treasury-indexed ARMs averaged 3.16 percent

with an average 0.6 point, down from 3.25 percent last week and

4.22 percent a year ago.


Looking back a week, a separate survey by the Mortgage Bankers Association showed demand for purchase loans was up a seasonally adjusted

10 percent during the week ending April 15 compared to the week



The increase in purchase loan applications to the highest level

since Dec. 3 was largely due to a 17.6 percent increase in

applications for government-backed loans, the MBA said.

Borrowers were likely motivated by a scheduled increase in

FHA insurance premiums, the group said.


Despite the surge in demand, purchase loan applications

remained 11.4 percent below the level seen at the same time

a year ago, the MBA said.


Requests for refinancings were up 2.7 percent from the week

before, but accounted for 58.5 percent of mortgage applications,

the lowest share since May, 2010.


MBA economists expect rates on 30-year fixed-rate loans will

average 5.1 percent during April, May and June, and climb to an

average of 5.6 percent during the final three months of the year.


In an April 14 forecast, MBA economists predicted that rates on

30-year fixed-rate loans will rise more gradually next year, to

an average of 6 percent in the final three months of 2012.

Copyright 2011 Inman News


About Inman News™
Agents and brokers around the world turn to Inman News first for accurate,

innovative and timely information about the industry. Known for its award-

winning journalism, cutting-edge technology coverage and forward-thinking

conferences, Inman News is the leading independent source of real estate

news, education and insight.

First Quarter Stats for Waupun Area

by House to Home Properties LLC

So far this year, Waupun’s real estate market (53963 zip code) is staying steady as far as the number of homes sold compared to last year.  As I look at the sales statistics for the period of January 1 through April 1, there were 19 closed sales reported to the Multiple Listing Services in 2010 and 19 closed sales reported this year.  The stats also indicate more Waupun area country homes sold this year than last year at the same time.  Last year, during these first three months, the sales reported were at 94% of list price.  This year, the ratio is down to 91 %.   This year there were more lower priced (usually foreclosure homes) and an increase in higher priced properties sold in the first quarter of 2011.

As you know, WE LOVE TALKING REAL ESTATE…So if you ever have questions about the Waupun real estate market, do not hesitate to call us at 920-324-5200.

First Time Homebuyer Credit and Tax Refunds

by House to Home Properties LLC

RISMEDIA, March 26, 2011—The IRS recently released information on processing issues that are impacting a small percentage of tax returns involving repayment of the First Time Homebuyer Credit (FTHB), primarily involving 2008 home purchases. While most of these returns are processing normally, the IRS recognizes the hardship caused by delayed refunds, and it has assigned additional staff and resources to address the issues promptly.

It is important to note that taxpayer returns claiming a home purchase in 2010 are not affected, and those returns are being processed as are the vast majority of other homebuyer returns.

For more information click the link below.

Clean Slate

by House to Home Properties LLC

What good is a tidy home when the cleaners you're using are polluting the environment?  Here are some ways to cut back on harmful and toxic cleaning.

  • Do as much as you can with baking soda and water, which are safer, effective cleaners for your tub and shower.
  • Pop a mildewed shower curtain into the washing machine after presoaking heavily mildewed areas in a bucket filled with 1/4 cup bleach per gallon of water (make sure it's safe for the fabric first). The solution can then be used on other bathroom surfaces.  Hang the washed curtain back up in your bathroom to dry. Ventilate well when working with bleach.
  • Vacuum floors, or dust-mop them with a microfiber dust mop; don't sweep them.  Microfiber mops trap and hold fine dust and grime better than your broom does.
  • Use a lambswool duster to remove cobwebs and dust from ceiling fixtures, exposed beams and corners.
  • Freshen your fridge with baking soda.  When thinned with water to a grainy consistency, it's the perfect weapon for attacking chilled-on food, grime and fridge gunk.  Rub on with a white nylon sponge, let set a minute or two, and rinse clean with damp paper towels.

3 Tips to Keep Your Credit Scores High

by House to Home Properties LLC

#1.  DO NOT MAKE PAYMENTS LATE!!!  Even if you catch up later the late payments will show up and hurt your credit score.  Anything other than ‘paid as agreed’ on accounts on your credit report hurts your score.”

#2.  Dollar amounts don’t matter in FICO scoring.  The effect on your score is the same whether you have a $1 late payment or if you have a $1000 late payment.

Always pay your bills on time, every time.  If you must be late and want to avoid damage to your score, pay the accounts that report to credit bureaus first.  You will find this information by getting a copy of your credit report.

#3.  Do not close credit card accounts.  You could be throwing away years of positive credit history.  A long term positive account history can boost your score.

Displaying blog entries 51-60 of 71