Paramount Mortgage - Lender's Blog

A Little Mortgage / Real Estate Humor

 

 

By the Numbers – Aspiring Home Buyers

The NAR Aspiring Home Buyer Profile is an in-depth examination of the consumer preferences of non-homeowners, defined as those who rent and those who live with someone else (such as family or friends) without paying rent. We thought we’d share these interesting facts from the survey.

Numbers of Our Heroes

This weekend, many of us gathered around the television with friends to watch a great game of football and enjoy some food and fun. Many look up to their favorite athletes because of their skill, dedication and talent, and perhaps even due to their character or commitment to community. Some would call them heroes, and we don’t necessarily disagree. However, someone once said that to find a hero, you don’t look for a number on the back of a jersey, but rather look for the number of medals on the chest of a veteran.

 

By The Numbers – Helping Our Heroes

At Paramount Mortgage Company, we take honoring our heroes very seriously. This includes not only veterans, but also first responders. Since implementing our “Helping Our Heroes” initiative, in which we waive the $995 origination fee, we have aided many in their quest for homeownership.

With that in mind, we would like to share a few numbers about our heroes:

Sweet Closings: How to Have a Smooth and Easy Loan Process

Once you’ve decided it’s the right time to purchase a house or to refinance your existing loan, you want everything to move quickly. The truth is, that doesn’t always happen. Sometimes things happen to delay the process, things that are out of the control of those involved.

Sellers May Benefit from Listing Early

Home sellers might benefit from listing earlier than the peak seasons of spring and summer this year, according to Jonathan Smoke, chief economist for realtor.com. Conventional wisdom in real estate holds that sellers should time the market to maximize their price. Why? Because home sales are extremely seasonal, peaking in spring and summer, when prices peak as well. That’s why in most markets, most years, the optimal time to list is in the spring, so that the maximum number of potential buyers view the home.

Honoring A Local Hero

Millennials Homebuying Insights

According to recent data from Zillow, Millennials are characterized by certain qualities, specifically when it comes to home buying.

After the Weather: Caring For Your Home in the Winter

St. Louis, home of PMC headquarters, is a wonderful place to live, play and work. You can count on great sports, wonderful businesses, entertainment, and much more. You can also be certain that you will never get bored with the weather, which sometimes seems to fluctuate between seasons in a single day. Last week, we experienced a mix of high winds, wild temperature changes, and ice. After a wild week of St. Louis weather, we encourage all homeowners to look for items that may need to be addressed.

FHA Mortgage Insurance Premium Reduction

The Federal Housing Administration (FHA) is reducing its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017.

FHA’s new premium rates are projected to save new FHA-insured homeowners an average of $500 this year.

For example, on a typical FHA loan of $200,000, the MIP was $141.67/month – with the new premium the monthly payment would be $100.00.

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