Written by Robert H. Ruth

This is a topic I discuss with borrowers most every day, so I thought you’d like to know the components of your credit score.  According to Fair Issac Corporation (FICO), “the score is calculated from many different pieces of data in your credit report, and the data is grouped into the 5 categories below.” Here they are with the approximate weighting assigned to each category:

• Payment History : 35%
• Amounts Owed :  30%
• Length of Credit History:15%
• New accounts Opened :10%
• Mix of Credit :10%
• Total: 100%

Let’s see what each category represents:

Payment history: 35%

This tells whether you have paid your credit card accounts on time in the past.  If you make all your payments on time each

INCOME - What Happens if it Disappears?! Tyler Gracey​ sits down with Pamela Gracey​, Owner of Gracey Benefit Solutions, LLC​ to discuss how proper planning can help avoid a personal financial crisis. Statistics show that the majority of individuals are not prepared if they become hurt or sick and can't work. What happens to your income? How will you pay your bills? Pam talks about some options that can provide financial security and peace of mind.

Click here for more information on Covering Your ASS(ets) video!

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Tyler Gracey
tyler@seaportre.com

Written by Robert H. Ruth

What is a concession?

A concession is some benefit usually offered from the seller to the buyer that helps in the negotiation to buy a home.  The concession is typically financial in nature, and is in essence, a type of deal sweetener for the buyer. In the real estate finance industry, concessions are also known as Interested Party Contributions (IPC’s).  For this article, I wanted to explain the 2 most common types of IPC’s: financing concessions, and sales concessions.

 Financing Concessions

These IPC’s are paid on the borrower’s behalf by the seller to help facilitate the transaction. Financing Concessions typically cover closing costs for the buyer who is financing the purchase with a mortgage. They are

Tyler Gracey sits down with Erik Johnson and Charles Gorrondona of Harbour Mortgage Group to discuss FIVE key points that either STREAMLINE or DERAIL a buyer's ability to obtain a mortgage. Consulting with a reputable lender ahead of time will help set the stage for the buying process down the road. Applying for a mortgage may feel frightening and like uncharted territory - It doesn't have to be!

Click here for more information on First Time Home Buyer Tips!

Tyler Gracey
tyler@seaportre.com

Written by Jon Nelson

THE REAL ESTATE CYCLE - Barring any special circumstances, every home, neighborhood, city, town and state is subject to the inevitable influence of the Real Estate Cycle. Independent of any external pressures, the stages of this ever-changing sequence have been the source of much unnecessary financial and economic strife and leave a permanent mark on homeowners and the municipalities they populate.

If a certain locale is not growing, it may very well be declining. This is a dynamic pattern that can and will impact the indirect and sometimes unforeseeable consequences of consumers unknowingly purchasing ‘too much home’ for their budget. The ripple effects of this are far-reaching and can often accelerate the decline of a

Written by Robert H. Ruth

According to two recent studies, one published by the National Association of Realtors, the other by Harvard University’s Joint Center for Housing, single women represent 17% of homebuyers throughout the US. That is a very significant number… it shows that single women are the second biggest demographic segment of the purchase market after married couples. By comparison, single men only account for 7% of homebuyers.

Here are a few significant findings from the studies:

• More than one in five home buyers is a single woman
• There are twice as many unmarried women buying homes than single men
• Single women buyers equal more than 33% of the growth in home ownership since 1994

These statistics are even more

Time Kills Deals - Do Your Research

Real Estate Raw&Uncut is for: Realtors, Agents, Buyers, Sellers, Brokers, Attorneys, Lenders, or just anyone that wants it "REAL" in REAL ESTATE! No hidden lies, none of that Realtor "fluff", no TV drama, no media BS... only the cold hard truth which we deliver unscripted and unfiltered with a new episode every week.

Episode 185: Chances are very good that your seller will receive much less in the long run for an overpriced property than if the property was priced correctly from the start. Most people accept and understand this concept. What many do not recognize is that knowing your product prior to listing can prove to be instrumental in getting the deal done. It is imperative that you have the

Written by Robert H. Ruth

In last week’s post, I looked at the impact of waiting to buy a house when rates are rising, which is the situation we are experiencing at this point in time. As I explained, thus far in 2018, mortgage rates have risen about .75% to around 4.625% from the prevailing rate in December, which was 3.875%. I also looked at a scenario for first time buyers named John and Mary, who are attempting to purchase a $300,000 home with 10% down. Our analysis was predicated on the following assumptions …

• John and Mary earn a gross monthly income of $7325. The house they want to buy will require escrows of $ 400 monthly for taxes and homeowners insurance and a 90LTV loan requires PMI at $ 112 monthly.
• John and Mary’s monthly

Written by Robert H. Ruth

There are 2 new realities in the Real Estate marketplace for this Spring. First, mortgage rates are going up, and it does not appear likely that this will change any time soon. Second, due to the shortage of housing inventory in the US, we are firmly in the grip of a seller’s market with prices rising at a rapid pace.

If you have been watching the news over the last few months you’ve probably noticed that mortgage interest rates have started going up. Thus far, the increase has not been dramatic: at the end of 2017 the average rate on a 30 Year Fixed Rate Mortgage was 3.875%, and today, March 21st, the beginning of Spring, the average 30 Year Fixed Rate is 4.625%. That is a rate increase or .75% in 3 months. This might

Written by Robert H. Ruth

People attempting to buy a home are sometimes surprised by the true monthly cost of having a mortgage compared to what they are accustomed to paying each month for rent. So in an effort to help I have done the following exercise with some comparisons for you. This is intended to be a brief but informative little analysis so you can see how owning a home, and paying a mortgage, involves a little bit more than just comparing the payments.

Whenever I first sit down to discuss financing with buyers, I ask them how much their current rent is and what amount they would be comfortable paying each month on a mortgage payment. Let’s assume that a borrower is comfortable paying the same amount as they currently do for rent. I had