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Tag Archives:buying a home in yuma

Jan 5

What Causes 1-Year LIBOR to Change?

What Causes 1-Year LIBOR to Change?

The London Interbank Offered Rate (LIBOR) is the primary index used on adjustable rate mortgages in the United States.  It’s the interest rate that banks pay to borrow money in the London money markets.  LIBOR is published by the International Continental Exchange (ICE).  It’s calculated through a survey that the ICE Benchmark Association (IBA) sends to banks who trade and do business in the London money markets.  The US Dollar 1-month LIBOR is what a bank would pay to borrow US dollars for 1 month. The 6-month LIBOR

Sep 20

Yuma Real Estate Market Update September 2016

Yuma Real Estate Market Update September 2016

Across the nation, real estate headlines are all talking about lack of inventory.  In many markets around the US, there are simply not enough homes for sale to meet demand.  That creates a seller’s market, and leads to rising home prices.  How does that affect Yuma Arizona?  At first glance, the numbers look pretty promising for Yuma County.  In the first 8 months of the year, we sold 1,675 units.  That’s an average of 209 homes per month.  Based on the current inventory, there is a 6.45 month supply

Mar 21

Pathway 2 Purchase Down Payment Assistance Program

Pathway 2 Purchase Down Payment Assistance Program

*****UPDATE: EXPIRED!!  This program is out of funds and no longer available.***** The Pathway to Purchase “P2P” Down Payment Assistance (DPA) Program was just released on March 2nd, and it is available for homebuyers in Yuma, Arizona!   There is $48 Million available on a first come, first serve basis to fund this program through the Hardest-Hit Funds  (U.S. Department of the Treasury through the Trouble Asset Relief Program). Program Highlights The assistance amount is 10% of the sales price, up to $20,000! The assistance funds come as a five-year, 0% interest, no

Feb 25

The secret to getting the best deal on your mortgage

The secret to getting the best deal on your mortgage

The best piece of advice I can give you in relation to shopping for a mortgage is to get prequalified as early as possible.  Before you find a house, before you start talking to realtors, get prequalified first.  That is the secret to success. I have done the math, and the difference between a 680 and 740 credit score is 3/8ths of a percent.  Well, at our current average sales price in Yuma, that translates to $13,752….Just in payments over 30 years……$13,752 MORE that you’ll make in payments because you

Nov 7

Secured Credit Cards

An important part of having a good credit score is to have a credit card with a low balance that you always pay on time.  The problem is that if you have no credit or bad credit, most credit card companies either won't give you a card, or will charge you high fees. A secured Credit Card is the solution.   A secured card means you put down a security deposit with the credit card company.  They, in turn, give you these benefits: You get approved for a credit

Aug 23

Buying a Home In Yuma Arizona

Due to weak U.S. economic reports and the impact of the European economic crisis, interest rates have moved lower in the last few days.  As a student of the markets, I can tell you that rates have not been this low in over 50 years, and will not remain this low for long. If you know anyone who is thinking of buying a home in Yuma, there has never been a better time than right now!