Information for mortgages and lending such as:  rates, programs, tips, suggestions and other helpful info for the lending industry.  Primarily written by Analise Navia;  our mortgage consultant.

Found 5 blog entries about Financing.

1031 exchange gulf shores alabama

A 1031 exchange is a provision in the United States tax code that allows an individual or entity to defer paying capital gains taxes on the sale of certain types of investment or business property. Under the 1031 exchange, the proceeds from the sale of the original property are reinvested in a similar type of property, which is referred to as a "like-kind" property. This reinvestment must take place within a certain time frame and follow specific rules and regulations. By deferring the capital gains taxes, the individual or entity can use the full proceeds from the sale to invest in the new property, allowing them to potentially build wealth faster than they would if they had paid taxes on the sale of the original property. It's important to note that

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Aerial view of downtown Gulf Shores ALWell, the gig’s up. Word’s out. We’ve been discovered.
Gulf Shores was just named on’s list of the top ten 2017 Rising Star Destinations for the USA. Gulf Shores, Alabama is second only to Portsmouth, New Hampshire. Once a hidden gem in the area known as the “Emerald Coast”, Gulf Shores is quickly becoming the hottest beach getaway in the country. Is it really such a surprise, though? Those of us familiar with Gulf Shores know that this place has so much more than meets the eye. I mean, yes, the beaches are spectacular, the water is warm, and the Gulf-front condos here offer first-rate service and amenities, but that’s just barely scratching the surface of all that Gulf Shores has to offer.
First off, the culture. Ever heard the phrase “southern

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On January 9, less than two weeks before he would have to leave office, former President Obama made the decision to make a cut to Federal Housing Administration (FHA) mortgage insurance premiums by a quarter of a percent, citing the current financial stability of the insurance fund. The cut would have taken effect on January 27, 2017 and was set to save new homeowners hundreds of dollars every year ($500 on a $200,000 home) and enable thousands of people to buy their first home. Within one hour of his presidential inauguration, President Donald Trump effectively halted these cuts and they are now "suspended indefinitely".

Mortgage rates have been rising lately, with the current rate on a 30-year fixed loan being 4.09% (one year ago it was 3.81%)

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According to CoreLogic, home prices rose 3.3% statewide compared to 2012.  This trend continued across the state with a few exceptions during the month of September.  Prices fell in mobile along with four other metro areas that include Tuscaloosa, Huntsville, Aurburn-Opelika and Dothan.  
Distressed sales and foreclosures are dragging prices down in these areas, with the exception of Aurburn.  In Mobile, Huntsville, Tuscaloosa and Dothan home prices would have increased if these short sales and foreclosures would have been excluded from the analysis.  
The Auburn-Opelika market was the only market that prices would have still fallen even without the effect of the distressed property sales.  This perplexing state is a question mark as to the reason.  In…
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Under the qualified mortgage rule, from the Dodd- Frank legislation, mortgage lenders face greater legal liability if they make loans without ensuring the borrowers’ ability to repay.  Mortgage lenders who originate “qualified mortgages” enjoy greater legal protections should those mortgages default.
Fannie Mae and Freddie Mac are already requiring more documentation of income and credit history of our borrowers due to the pressure of the pending QM.  Bottom line, if the lender closes a loan that falls outside the parameters of QM, they are left with no protection from Fannie Mae or Freddie Mac.
A few examples of the pending changes for QM:
-     Loans cannot exceed 43% debt to income ratio (this effects how we calculate income)
-    Loans must be fully

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