Paramount Mortgage - Lender's Blog

Trick or Treat

Your home is your haven, your safe place, your escape from the world…except for the next week. It’s Halloween, and nearly half of the country will be decking the halls with spooky decorations. With that in mind, we offer some tricks and treats for the homeowner.

Mortgage Experts' Pet Peeves

Did you know that last week was National Pet Peeve Week? Yes, it was a week to “celebrate” those little things that drive us up the wall. Among the top pet peeves around the world are people who excessively use their mobile phones and people who cut in long lines, as well as the long lines themselves.

5 Tips to Minimize Stress in the Mortgage Process

Purchasing a home is one of the biggest financial decisions many will make in their lifetime. There is a lot to consider when looking at prospective mortgages, and finding the right mortgage can be overwhelming. These five steps can help:

1. Know your budget
Take into account not only the mortgage price but also insurance, taxes, maintenance, utilities, etc. Calculate an affordable monthly payment and then figure out the corresponding home price.

Will Conforming Loan Limits Rise in 2017?

The likelihood that the Federal Housing Finance Agency will raise the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2017 is high now after meeting one certain condition, according to HousingWire.

Earlier in 2015 there were predictions that the loan limits would rise for 2016, however in November of 2015 the FHFA announced that the conforming loan limits would remain unchanged for much of the country.

Housing Economist Shares Expectations for Rest of 2016

The year is more than two-thirds over, and with events like the Brexit behind us (for now), the good news is that housing continues to grow, “Slowly, but it is growing,” according to Doug Duncan, Fannie Mae’s chief economist.

Here are a few of Duncan’s observations:

• The full-year economic growth outlook remains 1.8 percent, with consumers the primary driver of that growth.

• Household balance sheets are strong, and the savings rate is between 5 and 6 percent, which is near long-term averages.

Packing Perfection

In last week’s blog, we explored a few tips for moving in to your new home. We’re happy to see so many new homeowners realizing their dreams, and we simply love that we can be a part of the process.

10 Events Homeowners Insurance Might Not Cover

Most know their insurance policy covers their home and the possessions inside it in the event of a fire or theft, but they may not realize there are many things which are not covered by their homeowners insurance. According to credit.com, below are ten events that may not be covered:

Happy Homecoming

If you have family or friends with children in school, there’s no doubt that you know it is homecoming season, or HoCo, as they often call it these days. Dresses, dances, football games and parades are all over social media, bringing excitement for kids and memories for adults.

By The Numbers: Mortgages – Women vs. Men

Here are a few findings from a recent study by the Urban Institute, comparing data from 13 million women and 17 million men. The study looked at all types of borrowers, including single men, single women, and couples.

5.8% – average loan default rate, single women

6% – average loan default rate, single men

$68,000 – average annual income for single female borrowers

Your Fun Fall To-Do List

This Thursday marks the beginning of the autumn season. We’re excited for cooler weather, football, bonfires, and the upcoming holidays that will wrap up 2016 in just a few short months. 

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