Blog — James Whitener - Whitener Team

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates If the time has come to purchase a home and you’ve been perusing the real estate market, it’s possible you’ve also been considering the mortgage options that might work best for you. In the event that you’re already spending a lot of time looking at homes and trying to sell your own, here are a few reasons you may want to leave your mortgage considerations to a professional.

Qualifications You Can Count On

If you’re new to the world of home purchasing and have concerns about learning the ropes on your own, a mortgage advisor can be a great way to navigate the market and get the information you need without having to do all of the legwork. Because a mortgage advisor has to have the necessary qualifications to give you advice, they’ll be able to guide you through available options so you can find the product that is best suited for your financial situation.

A Knowledgeable Expert On Your Side

Between putting in offers on a home and dealing with lenders, it can often feel like you’re between a rock and a hard place, and getting squeezed financially. However, the ideal mortgage advisor will be someone who is there solely to assist you and provide you with viable options. Instead of a very specific set of options provided by the bank, an advisor will be able to identify products your lender might not suggest, which means you’ll have more options and a representative who will be able to recommend the best ones for you.

The Inside Scoop On The Industry

It’s the job of a mortgage advisor to be on top of the market, have a comprehensive knowledge of the products out there and be familiar with the lenders, so this means less research and a lot more expertise for you when it comes to any final mortgage decisions. Not only will they have the know-how in the industry you’re heading into, they’ll be aware of the information the lender requires and may be able to score you a better deal when the time to make a decision comes.

Finding the ideal lender for your mortgage can be a struggle in times where there are so many small details to deal with, but a mortgage advisor can work to simplify the process. If you’ll soon be applying for a mortgage and are considering your lender options, you may want to contact one of your local mortgage professionals for more information.

June 16, 2022/by whitenerteam_admin

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates

Home Mortgage Tips

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates If the time has come to purchase a home and you’ve been perusing the real estate market, it’s possible you’ve also been considering the mortgage options that might work best for you. In the event that you’re already spending a lot of time looking at homes and trying to sell your own, here are a few reasons you may want to leave your mortgage considerations to a professional.

Qualifications You Can Count On

If you’re new to the world of home purchasing and have concerns about learning the ropes on your own, a mortgage advisor can be a great way to navigate the market and get the information you need without having to do all of the legwork. Because a mortgage advisor has to have the necessary qualifications to give you advice, they’ll be able to guide you through available options so you can find the product that is best suited for your financial situation.

A Knowledgeable Expert On Your Side

Between putting in offers on a home and dealing with lenders, it can often feel like you’re between a rock and a hard place, and getting squeezed financially. However, the ideal mortgage advisor will be someone who is there solely to assist you and provide you with viable options. Instead of a very specific set of options provided by the bank, an advisor will be able to identify products your lender might not suggest, which means you’ll have more options and a representative who will be able to recommend the best ones for you.

The Inside Scoop On The Industry

It’s the job of a mortgage advisor to be on top of the market, have a comprehensive knowledge of the products out there and be familiar with the lenders, so this means less research and a lot more expertise for you when it comes to any final mortgage decisions. Not only will they have the know-how in the industry you’re heading into, they’ll be aware of the information the lender requires and may be able to score you a better deal when the time to make a decision comes.

Finding the ideal lender for your mortgage can be a struggle in times where there are so many small details to deal with, but a mortgage advisor can work to simplify the process. If you’ll soon be applying for a mortgage and are considering your lender options, you may want to contact one of your local mortgage professionals for more information.

June 16, 2022/by whitenerteam_admin

Get Your Mortgage Paid Down Faster With These 5 Simple Money Saving Strategies

Home Mortgage Tips

Get Your Mortgage Paid Down Faster With These 5 Simple Money Saving Strategies The monthly mortgage payment can be burdensome for many, but it’s possible you’ve thought of trying to pay it down more quickly. Without getting a new job or working overtime, here are some tips you can use on a daily basis to save additional funds and pay off your mortgage at a swifter rate.

Make Your Lunch

The five or ten dollars spent on lunch might not seem like a lot, but over time this amount adds up to a lot of savings. Instead of hitting the cafe, pick one or two nights each week to prepare a lunch for yourself so you can skip the daily expense.

Take A Coffee To Go

Like lunch, coffee is another thing that can end up costing a lot of money. However, instead of going for the two-dollar cup, make a pot before you leave for the day or opt for the office coffee instead. If you prefer yours on the go, you can always make it a once-a-week treat.

Avoid The Impulse

This might seem like a hard one to stick with, but instead of buying something because you want it, sit on it for a day or two and see if it still appeals to you. In all likelihood, the desire to purchase will pass and you’ll manage to keep more money in the bank.

Read The Flyers

Items like groceries may be a necessity, but that doesn’t mean that you have to buy the first thing you see. From fruits and vegetables to packaged goods, there are plenty of food items that go on sale all the time. By the time the month is out, you’ll be surprised how much you can save just by shopping around.

Skip The Cell Phone Plan

For most people, having a cell phone is a necessity these days; however, there are ways that you can get around the high costs that are often associated with smart phones. Instead of going for the expensive plan you have, settle for a little bit less service and talk to your provider about deals they can offer you.

It may seem like paying a higher monthly amount on your mortgage is impossible, but there are little ways to save each day that can help you pay it down faster. If you’re planning on looking for a new home in the near future, contact one of our mortgage professionals for more information.

June 15, 2022/by whitenerteam_admin

What Are The Advantages Of Owning A Multifamily Property?

Mortgage

What Are The Advantages Of Owning A Multifamily Property? It is important for everyone to diversify their investments. One of the ways to do so is to invest in real estate. There are numerous types of properties, and one of the most attractive options is a multifamily property. Even though it might seem like a challenge to manage such a large property, there are several benefits of multifamily properties everyone should keep in mind.

Hiring A Property Manager

One of the first advantages of purchasing a multifamily property is the potential to hire a property manager. With more families living in the building, it might be worth it to pay a property manager to handle a lot of the day-to-day tasks. Residents might have questions, and property maintenance is critical. The right property manager can handle a lot of these responsibilities.

Generating Passive Income

By hiring a property manager, it is possible for real estate investors to generate passive income. With the property manager handling just about everything, real estate investors will be free to work another job, identify other properties, or focus on their retirement. This passive income can be used to cover mortgage payments, real estate taxes, and homeowners’ insurance. A smart investor might even use the income generated from this property to purchase another one, starting the cycle again.

Taking Advantage Of Tax Write-Offs

It is true that there are a lot of expenses that come with owning a multi-family property. Examples include maintenance expenses, repair bills, insurance premiums, real estate taxes, and marketing costs. Fortunately, a lot of these expenses could be tax-deductible. This could save property owners a significant amount of money. Of course, anyone who is interested in exploring the tax advantages that come with owning a multi-family property should reach out to an experienced tax professional for assistance.

Consider Owning A Multifamily Property

These are just a few of the many advantages that come with owning a multifamily property. Even though there might be a larger upfront expense, there are numerous advantages that a multifamily property might provide. There are potential tax advantages, an opportunity to delegate responsibility, and a consistent flow of passive income. Those interested in real estate investing should explore the opportunities afforded by multifamily housing.

June 14, 2022/by whitenerteam_admin

What’s Ahead For Mortgage Rates This Week – June 13, 2022

Financial Reports

What's Ahead For Mortgage Rates This Week - June 13, 2022

Last week’s economic reporting was highly focused on inflation, which grew at its fastest pace since 1981. Rising fuel and food prices boosted inflation in the U.S. and abroad; Analysts said the Ukraine War and supply chain problems continued to drive inflation. Weekly readings on mortgage rates and jobless claims were also released.

Inflation Hits Highest Level in 41 Years

The government’s Consumer Price Index, which tracks inflation, rose at a month-to-month pace of 1.0 percent in May compared to the expected reading of 0.70 percent and April’s reading of 0.30 percent growth. May’s Core Consumer Price Index, which excludes food and fuel sectors, rose by 0.60 percent month-to-month.

Year-over-year readings for inflation also increased in May as inflation rose by 8.60 percent compared to an expected reading of

8.30 percent growth that matched April’s reading for year-over-year inflation. The year-over-year core Consumer Price Index rose by 6.0 percent in May compared to expectations of 5.90 percent and April’s year-over-year reading of 6.20 percent growth in consumer prices. Consumers felt the most pain paying higher rents and dealing with rising food and fuel prices. These categories represent a significant portion of household expenses and there was no immediate relief in sight. The Federal Reserve plans to raise its key interest rate range every month as it attempts to slow rapid inflation.

Mortgage Rates, Jobless Claims Rise

Freddie Mac reported higher average mortgage rates last week as rates for 30-year fixed-rate mortgages rose by 14 basis points to 5.23 percent; rates for 15-year fixed-rate mortgages averaged six basis points higher at 4.38 percent. Rates for 5/1 adjustable rate mortgages loans were eight basis points higher at 4.12 percent. Discount points for 30-year fixed-rate mortgages averaged 0.90 percent and 0.80 percent for 15-year fixed-rate mortgages. Discount points for 5/1 adjustable rate mortgages averaged 0.30 percent. Ongoing shortages of available homes and rising materials costs continued boosting home prices and eroding affordability for first-time and moderate-income home buyers.

Initial jobless claims increased last week with 229,000 first-time claims filed compared to the prior week’s reading of 202,000 initial claims filed. Continuing jobless claims were unchanged last week with 1.31 million ongoing claims filed.

What’s Ahead

This week’s scheduled economic reports include readings on housing markets, building permits issued, and housing starts. The Federal Reserve’s Federal Open Market Committee will release its post-meeting statement and Federal Reserve Chair Jerome Powell will give a post-meeting press conference. Weekly readings on mortgage rates and jobless claims will also be released.

June 13, 2022/by whitenerteam_admin

3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You Buy

Home Buyer Tips

3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You Buy Savvy home buyers who are preparing to make a real estate purchase should do their research and understand that they need to save money for not only the down payment, but the closing costs as well. The closing costs can account for as much as three to five percent of the sales price in some cases, so this can be a rather sizable amount of money. Some home buyers however, may not realize that the amount of closing costs can vary considerably based on the home that is purchased. With a closer look at why this is, home buyers can make a more educated decision when selecting a home to purchase.

Prepaid Taxes And Insurance

One of the most significant closing costs relates to prepaid taxes and insurance, and both of these expenses are directly tied to the location and value of the property. Consider that the property tax rate can vary based on the city, county, and state. Real estate insurance can also vary based on the type of construction of the home, if the home is located in a flood plain, and other factors. These are only a few examples of how the location and property type can impact these fees, and home buyers should consider the costs assoicated with the tax rates and insurance when selecting a property to purchase.

Third Party Reports

There are several third party reports that are commonly paid for at closing, and these include an appraisal, a survey, a pest inspection and a property inspection. The third party reports may vary in cost based on the size of the home, the amount of land that is being purchased, and even the condition of the property. Those who want to keep their closing costs lower may consider learning more about how these fees are calculated up-front before finalizing their plans to buy a specific home.

Title Insurance Fees

Title insurance fees are another typically sizable expense for home buyers, and this insurance offers protection to the lender if the title is not clean. Title insurance can increase based on the size of the property as well as different factors that are revealed with a title search. This information can be difficult to learn with an initial home search, but home buyers should be aware that title defects can increase closing costs.

The location, size, age and construction of a property all impact the closing costs. Those who are shopping for real estate may be inclined to make a decision that keeps closing costs down, and they can reach out to their knowledgeable mortgage professional for more assistance with their particular situation.

June 10, 2022/by whitenerteam_admin

The Latest News

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates

3 Reasons You Should Trust in a Mortgage Advisor Instead of Trying to Predict Rates

Get Your Mortgage Paid Down Faster With These 5 Simple Money Saving Strategies

What Are The Advantages Of Owning A Multifamily Property?

What’s Ahead For Mortgage Rates This Week – June 13, 2022

3 Reasons Why Your Closing Costs Will Vary Depending on the Type of Home You Buy

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