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Zillow as mortgage lender: Real estate giant going ‘further down the funnel’ of buying a house –

Zillow as mortgage lender: Real estate giant going ‘further down the funnel’ of buying a house – | SAN ANTONIO HOMES TODAY | Scoop.it
Zillow has been quietly originating mortgages for a few months, following the acquisition of Mortgage Lenders of America last year. At the time of the deal, Zillow didn’t say how much it spent on Mortgage Lenders of America. But the 10-K filing reveals the price: $66.7 million in cash. Mortgage Lenders of America originated approximately 4,000 home loans in 2018 across 40 states, or roughly 333 per month.
Al Cannistra's insight:

ZILLOW FOR MORTGAGES?  In Texas, you don't need to wait for that. Check out Turbo Mortgage. And, Agents - if you are looking to participate, be sure to check out the invite under AGENTS on my website:  https://sanantonio.homes/  (or call me) - sorry, right now - Texas only!

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More Buyers Likely to Consider ARMs Again

More Buyers Likely to Consider ARMs Again | SAN ANTONIO HOMES TODAY | Scoop.it
The market share of adjustable-rate mortgages is slowly rising and will likely gain more popularity as fixed-rate mortgages increase over the coming year, says Archana Pradhan, CoreLogic’s senior professional economist, on the company’s Insights blog.  The current market share of ARMs has fluctuated between 5 and 13 percent.
Al Cannistra's insight:

IMO used correctly, ARMS make sense - your thoughts?

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New study reveals how much income San Antonians spend on rent

New study reveals how much income San Antonians spend on rent | SAN ANTONIO HOMES TODAY | Scoop.it
A new report from Aparment List reveals how many San Antonians are cost-burdened. However, as rent increased between 2005-2015, so did income.
Al Cannistra's insight:

tired of paying somebody else's mortgage?

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The Easiest Cities to Get a Mortgage

The Easiest Cities to Get a Mortgage | SAN ANTONIO HOMES TODAY | Scoop.it
It can be tough to get a mortgage these days, especially for those with less than stellar credit scores and people without a sizable down payment. Read more: Good for Buyers: Mortgage Rates Barely Budge But just how difficult it is may greatly depend on where you live, according to a new report released by the Urban Institute.
Al Cannistra's insight:

San Antonio is on this important list....  SOoooo - ready to get a mortgage (and the home that comes with it?) - call me, we will work on it together!

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Applying for a Mortgage Could Be (Almost) as Easy as Ordering a Pizza - Real Estate News and Advice - realtor.com

Applying for a Mortgage Could Be (Almost) as Easy as Ordering a Pizza - Real Estate News and Advice - realtor.com | SAN ANTONIO HOMES TODAY | Scoop.it
All hail the Rocket Mortgage app: Applying for a home loan just became as simple as a few clicks and taps on your smartphone.
Al Cannistra's insight:

Pizza anyone?

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Need a Home Mortgage? Fannie Says Forget the Pay Stubs

Need a Home Mortgage? Fannie Says Forget the Pay Stubs | SAN ANTONIO HOMES TODAY | Scoop.it
Fannie Mae said it would allow lenders to use employment and income information from a database maintained by Equifax rather than traditional forms like pay stubs to apply for a home mortgage.
Al Cannistra's insight:

we are getting there - eventually an all E application and verification...

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Saturday School: How Mortgage Interest Rates Impact Your Payment

Saturday School: How Mortgage Interest Rates Impact Your Payment | SAN ANTONIO HOMES TODAY | Scoop.it
Watch this video and learn the pros and cons of both fixed-rate and adjustable-rate loans.
Al Cannistra's insight:

thinking home mortgage? check this out...

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Mortgages for Seniors? Available, but Exacting

Mortgages for Seniors? Available, but Exacting | SAN ANTONIO HOMES TODAY | Scoop.it
Retirees who have been out of the mortgage-application process for a while might be surprised at all the extra hoops they have to jump through.
Al Cannistra's insight:

paying off your mortgage may not be the best idea even if you have the resources...

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Conforming mortgage loan limit raised to $424,100

Conforming mortgage loan limit raised to $424,100 | SAN ANTONIO HOMES TODAY | Scoop.it
The Federal Housing Finance Agency raised the conforming loan limit from $417,000 to $424,100, the first increase since 2006.
Al Cannistra's insight:

this is a good direction - higher might be better....

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Is Rise in Seller Financing Trapping Buyers?

Is Rise in Seller Financing Trapping Buyers? | SAN ANTONIO HOMES TODAY | Scoop.it
A couple with three children came to Paul Sigurdson in 2014, looking to buy a home that would support their growing family. The hitch was that they’d gone through a foreclosure three years earlier and couldn’t qualify for a mortgage.
Al Cannistra's insight:

a potential trap....

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How Holiday Shopping Can Kill a Closing

If your buyers go crazy on shopping sprees for the holidays, it could send a red flag to mortgage lenders that they're a risky bet. Give your clients these three warnings.
Al Cannistra's insight:

don't let it happen to you.....

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What to Know About the New Mortgage Forms

What to Know About the New Mortgage Forms | SAN ANTONIO HOMES TODAY | Scoop.it
New rules help borrowers compare home loans and see the total cost before closing
Al Cannistra's insight:

why is it we think everything needs to be improved? everytime we improve something it gets worse....   read some of the comments following the article - mortgages that were a page - yeap - a page - that is it.... as lemmings follow, visible people say we need to do more to justify their power position - we will do much better if we KISS - and live

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