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Will Missing Mortgage Payments Impact My FICO Score? Yes – and Here’s How

August 11, 2015 by Robby Oakes

If you’re like most homeowners, you probably believe that one missed mortgage payment won’t have a noticeable impact on your FICO score. People get behind now and then, and besides, you’ve been faithfully making payments on time for years. How bad could it be?

Filed Under: Home Mortgage Tips Tagged With: Home Mortgage Tips, Mortgages, Mortgages and Credit

What’s Ahead For Mortgage Rates This Week – August 10, 2015

August 10, 2015 by Robby Oakes

This week’s scheduled economic news includes reports on construction spending, a survey of senior loan officers, and reports on labor markets including ADP private sector jobs, the federal government’s reports on non-farm payrolls, core inflation and the national unemployment rate.

Filed Under: Market Outlook Tagged With: Construction Spending, Federal Reserve, FOMC, Freddie Mac

Tiny, but Cozy: 3 Ways to Furnish Small Spaces to Make Them Feel Much Larger

August 7, 2015 by Robby Oakes

When decorating a small space, there is a general desire to make the space look and feel larger than it is while also meeting basic functional needs in the room. By following a few important tips, it is possible to furnish smaller spaces so that they are functional and do not feel cramped.

Filed Under: Around The Home Tagged With: Around The Home, Real Estate Tips, Upgrades and Renovations

3 Closing Costs That Most Buyers Forget to Factor in and What You Can Expect to Pay

August 6, 2015 by Robby Oakes

If you’re in the process of buying a home, you probably have your deposit and monthly mortgage charges in a spreadsheet, along with a chart of your other expenses and your monthly income. But when it comes to buying a home, there are lots of different costs that will come into play – and it’s easy to forget something. When you’re preparing to close on your new home, make sure you consider these three closing costs that most buyers forget.

Filed Under: Home Buyer Tips Tagged With: Buying a Home, Closing Costs, Home Buyer Tips

The Down Payment: Four Great Reasons To Make The Largest Down Payment You Can Afford

August 5, 2015 by Robby Oakes

If you’re looking for a new home, you’ve probably heard lots of advice about down payments. About how it’s okay to just have a five percent down payment – you’ll still get approved. About how you should make the down payment as small as possible to avoid cash flow problems. Here are just four reasons why you should make the largest down payment possible.

Filed Under: Home Mortgage Tips, Personal Finance Tagged With: Down Payments, Home Mortgage Tips, Mortgages

A Guide for Those Intrested In Refinancing a Traditional Mortgage to a FHA Mortgage

August 4, 2015 by Robby Oakes

Refinancing a mortgage can provide a homeowner with many benefits, and many are interested in refinancing their traditional mortgage into an FHA mortgage to take advantage of low interest rates. Depending on the specific circumstances, this step may lower the monthly payment, reduce interest charges, adjust the loan term so that it is more beneficial for achieving financial goals and more.

Filed Under: Home Mortgage Tips Tagged With: Home Mortgage Tips, Mortgage Refinancing, Mortgages

What’s Ahead For Mortgage Rates This Week – August 3, 2015

August 3, 2015 by Robby Oakes

Last week’s scheduled economic reports included the Case-Shiller 20 and 20-City Index reports, pending home sales data released by the National Association of Realtors® and the scheduled post-meeting statement of the Federal Reserve’s Federal Open Market Committee. This week’s economic calendar includes reports on consumer spending, core inflation and consumer spending. July readings on Non-Farm Payrolls and the national unemployment rate will also be released along with regularly scheduled weekly reports on new jobless claims and mortgage rates.

Filed Under: Market Outlook Tagged With: Case Shiller, FOMC, National Association of REALTORS

First-time Home Buyers: Why Splurging for a Larger Home Beats Condo Living

July 31, 2015 by Robby Oakes

While there may be some initial financial benefit associated with buying a smaller property, there are a few benefits associated with splurging and buying a larger home as a first purchase. By analyzing these benefits, first-time home buyers can make a more informed decision about how to proceed.

Filed Under: Home Buyer Tips Tagged With: Buying a Home, Home Buyer Tips, Real Estate Investing

Federal Reserve FOMC Announcement

July 30, 2015 by Robby Oakes

The stage was set in high suspense for FOMC’s post-meeting announcement on Wednesday. As fall approaches, analysts and the media are looking for any sign of when and how much the Fed will raise its target federal funds rate. According to CNBC, some analysts were projecting two interest rate hikes before year end, but the truth of the matter remains unknown until the Federal Open Market Committee announces its intentions.

Filed Under: Market Outlook Tagged With: Federal Open Market Committee, Federal Reserve, FOMC

Understanding the Basics of How the Adjustable Rate Mortgage or ‘ARM’ Works

July 29, 2015 by Robby Oakes

As the 2009 recession fades into the sunset, the home buying market is showing signs of improvement in areas all over the United States. With more home buyers now entering the market, this becomes a good time to discuss one popular type of mortgage called the “Adjustable Rate Mortgage” or ARM.

Filed Under: Home Mortgage Tips Tagged With: Home Mortgage Tips, Mortgages, Mortgages and Credit

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Robby Oakes


Robby Oakes

CIMG Managing  Director
NMLS# 91606

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