Real Estate 2014: Changes You Should be Aware of That Will Effect You

Whether you already own a home or you’re in the market to purchase your first home each year there are new things that affect the real estate market, and these are just some of the things you should be aware of in 2014.

Stabilization in the real estate markets– much of what had a positive effect on real estate in 2013 has helped to stabilize real estate for 2014. While mortgage rates may rise a bit higher in 2014, there are products appearing on the market that will make it easier for borrowers to afford home that may be a bit higher due to market conditions.

Stricter mortgage qualifications– going forward there will be more emphasis placed on the qualification of the prospective home buyer actually being able to make that all important monthly mortgage payment. All factors will be scrutinized including all sources of income that have to meet a strict ratio of 43% debt –to-income gap.

Mortgage refinancing may be invisible for 2014– without any sort of Harp 3.0 action it’s predicted that there will be little in the way of refinancing options on current mortgages for this year, and that’s due to most home owners already at rates that are very low, so there is little room left for refinancing at lower rates at the moment.

Are you a home owner in Orange County Ca and you are interested in refinancing your present home? Place a call right now to Avis Lending, the “we are happy to help you” lending company.

Since we are also licensed to serve home owners in Hawaii, Oregon, and Colorado we urge you to contact us today and let us help you with our refinancing options.

 

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