Paramount Mortgage - Lender's Blog

Student Debt and Homeownership

The Fannie Mae National Housing Survey® data was analyzed to shed light on the net effect of student loans and obtaining at least a bachelor's degree on homeownership likelihood. It was found that, on average:

Are First-Time Buyers Skipping ‘Starter Homes’?

The concept of a starter home is “quickly becoming a real estate relic, like track lighting and brass hardware,” notes a recent article in USA Today.

A starter home might be described as “smaller, cheaper, and in an area that might not be in an area where you eventually want to settle down.”

6 Credit Report ‘Red Flags’

When looking at a credit report, we want to see a credit history, and on-time payments. We don’t want to see bankruptcies, foreclosures, or late (or missed) payments. And there are situations in between, like not having a credit history or taking out a cash advance, that can cause a possible problem.

If you think you have good credit but keep getting turned down, it might be helpful to scrutinize your credit report for these six red flags, advises

Running the Financial Race

In case you haven’t been paying attention, athletes from all over the world have gathered in Brazil to compete for the glory and gold of world recognition. The displays of athleticism have been nothing short of amazing. We can also learn a great deal from the lifestyles of these elite athletes, and we can apply these lessons to many aspects of life, including securing a solid financial future.

By The Numbers – Cash-Only Home Sales

Although all-cash sales of homes aren’t as prevalent now as they were during the housing crisis, they still account for one-third of all home sales, according to CoreLogic.

34.7% – cash sales share for first quarter 2016

46.6% – peak cash sales share January 2011

25% – cash sales average before the housing crisis

By the Numbers – Smart Home Technology

Not so long ago, smart home features like automated lighting systems, remote-controlled thermostats, and “The Clapper” counted as relatively exotic technologies.

Today’s homeowners can choose from hundreds if not thousands of options that do more than just close a garage door. There are thermostats that can be controlled through a smartphone app, LED light bulbs that can change different colors, and a pot that self-waters plants. And the pace of new technology gets faster and faster each day.

If It Makes You Happy

Recently, we shared information about where U.S. homeowners are happiest. The information came from a Home Advisor survey of over 17,000 people across the country. It didn’t surprise us to learn that St. Louis, where our headquarters is located, was ranked among the five happiest U.S. cities.

How Happy are America’s Homeowners?

Homeowners from across the nation weighed in to tell HomeAdvisor, the online homeowner resource site, how their overall happiness is influenced by where they live. After analyzing their responses, they assigned a Happy Home Score to 50 U.S. states and 36 major metropolitan areas. The result is the most comprehensive look into where America's homeowners are happiest and why.

State Rankings –

Homeowners are Seeing Green

Homebuyers love the color green! While white remains the most popular color of home exterior, green (aka environmentally friendly) houses are highly sought after in this market. It is becoming more common for people to purchase a home based upon its carbon footprint and energy efficiency.

Most Memorable Open House Experiences

Just for fun this week, we thought we’d share some of the more interesting open house experiences, from a recent Wall Street Journal article:

Q. What was your most memorable open house experience?

A. Jeannette Spinelli, broker associate and owner of the Spinelli Residential Group, Keller Williams, Austin, Texas:

This was about a year ago, in central Austin. It was a multi-acre property with a 6,000-square-foot house. The open house was invitation-only, in the late afternoon, catered with wine and cheese.