Greenway Mortgage Blog

3 March 2022

FHFA Releases Home Price Index and Values are up 17.5% YOY

The Federal Housing Finance Agency released its House Price Index for Q4 of 2021 and home prices were up 17.5% year over year. Your area's details can be found in my Real Estate Appreciation Data Report. What could this mean for you as a homeowner? You may be able to drop private mortgage insurance and lower your monthly payment Take cash out for home improvements, debt consolidation, tuition payments, or any other purpose When values are high, a refinance could be worth exploring. Are you thinking of buying? High home prices can impact affordability, as can rising interest rates....

2 March 2022

Down Payment Game Plan

Struggling to save up for a down payment on a new home? Saving up to buy a home can feel nearly impossible. But with a solid saving game plan, anyone can squirrel enough away for a down payment on the home of their dreams . There are many simple strategies you can use to make saving a breeze and we’ll cover those in a few. How Much Do You Need to Save For Your Down Payment? You’re probably familiar with the phrase: Save for a 20 percent down payment before you buy a home . Putting this much down shows that you have financial discipline and stability. Plus, it can help you get more favorable rates. While a 20 percent down payment was once a standard,...

25 February 2022

MarketMinute | What's holding up the completion of new homes?

Consumer confidence fell to a 5-month low in February, with fewer consumers planning to spend on homes, automobiles, and vacations. Concerns over even greater inflation are mounting this week, as oil prices surged to more than $100 a barrel for the first time since 2014. The labor market continues to show strength. Last week's unemployment claims were lower than expected, and continuing claims hit a 52-year low. Homebuilder confidence fell for the 2nd straight month, as builders face delays for cabinets, garage doors and...

20 February 2022

USDA One-Time Close Construction Loan

Your dream home starts here with Greenway’s USDA One Time Close Construction Loan. With 100% financing and a low minimum credit score, this program is designed to provide you flexibility and affordability, so you can build your perfect home – all with just one application and one closing. USDA Construction Loans are rare, so if you’ve been struggling to find a lender offering one, you’ve come to the right place. Greenway Mortgage has an entire suite of Construction Loans available. The Lowdown on the USDA One-Time Close Construction Loan… To increase economic development in rural areas, the Federal...

17 February 2022

MarketMinute | How Do Lumber Prices Add to the Cost of a New Home?

Minutes from last month's Fed meeting show the Fed is ready to raise policy rates as soon as March to help curb soaring inflation. Retail sales rose 3.8% in January, the most since March, beginning the year strong despite inflation and Omicron. Similar to consumer inflation, which hit its highest level since 1982, January wholesale prices were up a near-record 9.7% year over year. Soaring lumber prices add nearly $19K to the cost of a new home. Though 22% below peak, prices are still about 3 times higher than pre-pandemic...

GREENWAY BLOG

FHFA Releases Home Price Index and Values are up 17.5% YOY

Down Payment Game Plan

MarketMinute | What's holding up the completion of new homes?

USDA One-Time Close Construction Loan

MarketMinute | How Do Lumber Prices Add to the Cost of a New Home?