Wow... 2 Years...

Funny that I stumbled across the blog that I originally started about two years ago as way to relay truths about the mortgage industry news about our local real estate market. Whether you are looking at real estate in Johnson County in areas such as Burleson, Cleburne, Grandview, etc. or in Hill and Erath County much of the market is the same. The Stephenville market in Erath County is fairly stable along with the other places mentioned for the most part. There are individual neighborhoods that have taken hits with an above average number of foreclosures but it is certainly not the norm. The worst part is that our media locally is still being driven by the national media as was mentioned in my post two years ago. Currently we are having people scared to jump it seems over the fear of what they are hearing on the news. The DFW market as a whole is one of the most stable and vibrant housing markets in the entire United States. I know some may or may not have heard this as well but the numbers are telling this story not just something pulled out of the sky. On another note I will discuss various loan types in future posts as well as other statistics that hopefully people find interesting. Make today a GREAT day!
Brad

The Media and The Truth

Today I would like to address the current state of mortgage financing which everyone gets the majority of their information from the television and radio. If you have watched the news lately then I am sure that you have heard that it is harder than ever to get a home loan due to credit requirements as well as underwriting requirements. All of these commonly reported themes are not all totally true. The only change that we have seen of the past six months in mortgage lending is that a person now needs over a 580 middle credit score in order to do a manually underwritten loan. The minimum credit score used to be 500 but it has changed to 580 ONLY on manually underwritten loans. We are closing loans with automated approvals that have less than a 580 credit score also by the way. The only other change is the stated income loans have been pulled by most investors. This does not represent a loan that is used by most customers as the rates were higher and the customer had to be self employeed. All of that being said the media is getting America in an uproar mainly because it is sweeps right now. Sweeps of course is when they compute their ratings etc. so they are going with any eye grabbing story that is out there. Right now it is a buyer's market with so many homes available and the financing is still readily available and with great rates. If you do not own a home and are thinking please do not let the media circus detour you from owning your dream in what is now one of the most favorable times to buy a home.
Have A Safe Weekend!
Brad

Hello and Welcome

Hello and welcome to my blog. I would like to thank you for stopping by whether you be family, associate, or past/present customer. I hope that you find the information that I add to this blog to be helpful in helping you make a sound decision when buying and financing a home. I would like to know what information most people have questions about concerning financing and or buying homes. I am creating this as an informational blog to help people in all walks of life with decisions having to do with credit and helping to get more people ready to purchase a home whether it be your 1st or 50th home purchase I hope that you will find the information provided to be accurate and pertinate to all different situations. I will also discuss some issues with credit and for those people that would like to get out of debt to ease the pressures of rising prices a little hope and inspiration to do so. Personal finance is a very simple subject yet overlooked by our educational system in helping people be able to establish a good credit history and a sound financial platform. Life is much easier when you have control of your financial well being. Whether you make $6 an hour or $500,000 a year without a good budget and sound financial planning it is very difficult to have the easy road in your financial future. I have taught first time homebuyer seminars through the Burleson Community Education program where we are raising awareness of the ins and outs of purchasing a home and establishing a good financial plan to be able to obtain home ownership and keep a positive financial future in the process. If you have any questions or suggestions of future posts please let me know and I would be happy to address all of them. You can post them on this website or email me at brad_corbin@hotmail.com I hope that if you should know anyone that is in need of financing a home purchase/refinance or commercial real estate purchase/refinance that you will let them know about the services that I provide. I strive to make every purchase or refinance an enjoyable and pleasurable experience. Home ownership is one of the most exciting times in someone's life. Thank you for reading my blog and I look forward to future conversations and suggestions.
Thanks,
Brad