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Blog image: Using your Equity for a Luxury Home?  We can help!

Using your Equity for a Luxury Home? We can help!

2020 Luxury Market Forecast   By the end of last year, many homeowners found themselves with more equity than they realized, and at the same time their wages were increasing. When those two factors unite, it can spark homeowners to think about making a move to a larger or more expensive home in the luxury space. That said, now is a perfect opportunity to take a look at the forecast for the 2020 luxury market. Three Things to Think About in the 2020 Luxury Housing Market 1. Prices The U.S. economy is strong today, with buying opportunities throughout the luxury e...

May 28th, 2020 Using your Equity for a Luxury Home? We can help!

Blog image: The Top Ten States Americans Move To

The Top Ten States Americans Move To

The Top States Americans Moved to Last Year [INFOGRAPHIC]   Some Highlights: Americans are on the move, and the most recent Atlas Van Lines Migration Patterns Survey tracked the 2019 traffic flow from state-to-state. Idaho held on to the top spot of ‘high inbound’ states for the second time since 2017, followed by Washington State. New York was the country’s outbound move leader in 2019, a designation it most recently held in 2014.

February 21st, 2020 The Top Ten States Americans Move To

Blog image: Homeownership Rate on the Rise to a 6-year High

Homeownership Rate on the Rise to a 6-year High

Homeownership Rate on the Rise to a 6-Year High   Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:This increase does not come as a surprise. According to realtor.com, “The largest cohort of the millennial generation turns 30-years-old in 2020 and they are hitting the housing market in full force. At the end of the f...

February 11th, 2020 Homeownership Rate on the Rise to a 6-year High

Blog Image: Student Loans and Your Mortgage

Student Loans and Your Mortgage

Carrying Student Loan Debt when Purchasing or Owning a Home      The numer of Americans carrying student loan debt is growing.  A lot of folks believe that with that debt, they cannot qualify for a home loan.   At Honor Mortgage, we have programs specifically for this situation.  Some programs will have the borrower add 1% of the total student loan debt added to their DTI  (Debt to Income).  That can be a heavy burden in some cases and cause your DTI to be too high to qualify.   However, with the right program, borrowers...

January 26th, 2020 Student Loans and Your Mortgage