Blog - Robby Oakes Mortgage

Critical Documents That You’ll Need to Have Ready Before Applying for a Mortgage

September 22, 2015 by Robby Oakes

If not done properly applying for a mortgage can be stressful and time consuming, but with the right preparation the entire process can be seamless. Here are some crucial pieces of information that almost any lender will require before approving a mortgage.

What’s Ahead For Mortgage Rates This Week – September 21, 2015

September 21, 2015 by Robby Oakes

Last week’s economic releases included several reports related to housing. The Wells Fargo/ NAHB Housing Market Index achieved its highest reading in nearly 10 years. Housing Starts dipped in August and Building Permits issued in August exceeded July expectations. The week’s big news was actually no news. The Fed’s Federal Open Market Committee decided not to raise interest rates. Fed Chair Janet Yellen followed up on the FOMC statement with a press conference and said that the Fed is not yet ready to raise rates, but that a majority of FOMC members are prepared to raise rates before year-end.

NAHB: Builder Confidence Hits Highest Rate in 9 Years; Fed Doesn’t Raise Rates

September 18, 2015 by Robby Oakes

The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index reported that home builder confidence rose by one point to a reading of 62 for September. This was the highest reading since November 2005, when the NAHB reported a reading of 68 for home builder confidence.

First-Time Home Buyer? 3 Budgeting Tips to Help Make Your Mortgage Payments Easier

September 17, 2015 by Robby Oakes

Buying a new home is an exciting time, but excitement can easily turn to stress if there isn’t enough money to pay the monthly mortgage bill. The added expense can take some time to get used to, but there are ways to make the payments easier, especially in those first few months when money is the tightest.

Ignore ‘The Bubble’ Talk – 3 Reasons Why This is an Excellent Time to Buy Real Estate

September 16, 2015 by Robby Oakes

While a gloomy outlook on the real estate market can strike fear in some hearts and may deter a purchase until a later date, the fact is that this is an excellent time to purchase property. In fact, there are three good reasons why potential buyers may want to start moving forward with their buying plans soon.

The Quick and Easy Guide to Understanding the Math Behind Your Mortgage Closing Costs

September 15, 2015 by Robby Oakes

It’s amazing that in a year with extremely low mortgage rates being reported around the country, closing costs are up by as much as 6% from the previous year. Part of the reason for this is that the stricter regulations on loans have increased the costs to banks, and they always find a way to pass on new costs to the consumer.

What’s Ahead For Mortgage Rates This Week – September 14, 2015

September 14, 2015 by Robby Oakes

A short week after the Labor Day Holiday provided a slack schedule for economic news. Bloomberg reported that residential investment for the second quarter of 2015 represented 3.34 percent of the Gross Domestic Product. Compared to the long-term average reading of 4.56 percent, analysts said that the Q2 15 reading suggested pent-up demand in the housing market that could help propel the economy through any setbacks that could occur when the Fed raises rates.

What is HARP 2.0 And How Do I Know If I Qualify To Refinance With It

September 11, 2015 by Robby Oakes

If you’re looking for home refinancing options, you may have had difficulty in the past – especially if you owe more than your home’s value on your mortgage. Getting refinancing consumes much of your home equity, which is in short supply for people who already have a mortgage. But with the government’s extension of the HARP Program, you may now be able to refinance your home with a variety of lenders.

The Pros and Cons of Paying Cash When You Buy Your Next Home

September 10, 2015 by Robby Oakes

With mortgage bubbles and real estate issues still in recent memory, one might feel that their best option is to buy their next home using cash instead of borrowing the necessary funds. In today’s article we’ll explore the pros and cons of paying cash for that next house or condo.

A Step-by-step Guide to Preparing Your Finances for the Mortgage Pre-approval Process

September 9, 2015 by Robby Oakes

Being pre-approved for a mortgage isn’t just a way to get a step ahead, in many cases it’s a necessity to buying a home. Many sellers don’t want to go through the negotiation process of selling their home only to have the buyer drop out when they can’t get approval for the mortgage they were relying on.

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