Mitch blog Archives - Target Rate

Hi,

I’ve been sending you emails about the home ownership and the positive steps you can take. Maybe you are ready to look at homes or maybe you are still unsure about whether you can qualify for a mortgage.

There are so many confusing things about buying a home. The process is complex, there are too many details and there’s too much at stake if you make the wrong decision.

This causes many people to feel overwhelmed and financially unprepared. I understand how you feel and believe you shouldn’t have to go through this process alone.

Will you continue to be a renter? Check out this link and see why buying a home might make all the difference.

When you work with us, you can be confident that you will make the right decision, even if that decision means you continue to rent.

Feel free to visit my site, **http://path2buypartner.com/ashley-novak** to learn more about working with us and to download your free copy of “The 4 Things To Know Before Buying A Home.”

Whether you’re looking to buy in 5 months or 5 years, the most important thing to do first is to get a plan in place – we can help!

When the time is right for you, I can introduce you to Mitch Lichterman. He will be able to determine how close you are now to being home buyer ready and can help you set a plan to become homeownership eligible.

If you have any questions or concerns, please feel free to contact me.

Lender Partner
Mitch Lichterman – Loan Originator-TargetRate.com
Phone:310-478-4999
NMLS#: 274609
DRE#:01952045
Email:mitch@targetrate.com

The amount of home equity borrowers now have at their disposal reached an all-time high in the third quarter of 2017. Approximately 80 percent of homeowners now have tappable equity, cash which could fuel the economy. Under the new tax law, the interest paid on home equity lines of credit is no longer deductible.

The 42 million homeowners with mortgages have a collective $5.5 trillion in “tappable” equity, according to Black Knight Data & Analytics, which studies the mortgage industry. This is $3 trillion more than they had when the housing market last bottomed in 2012, after the financial crisis. Black Knight defines tappable equity as the amount available for homeowners to borrow before reaching 80 percent of debt to value against their home.

Following the housing crash, millions of borrowers fell underwater on their mortgages, owing more than their homes were worth. Fast-rising home prices over the last two years have brought borrowers above water and beyond. Approximately 80 percent of homeowners now have equity they can use, cash which could fuel the economy. Just 2.7 percent of borrowers, or about 1.36 million, still owe more on their mortgages than their homes are worth.
So….what do you do with all this equity? How about purchase a 2nd home or rental property?

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Stated Income is back. Target Rate now has available new options for “stated” income type loans. Contact me for more details.