GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

Renting vs Owning: Common Considerations

Renting vs Owning: Common Considerations

  Is owning a home one of life’s big goals or is renting just fine? In case you’re still deciding let’s see how they compare. Many say renting accommodates a more flexible lifestyle and owning works for more settled lifestyles.  The truth is either can cost you if you need to move quickly. Rent vs Own: The Differences  Renters may have to pay to break a lease and owners may lose funds if they sell too soon. Renters may have freedom from maintenance chores like yard work or shoveling snow. If the water heater breaks or the roof leaks, they need only to call the landlord for a fix. On the other hand, owners have...

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MarketMinute | Multifamily Construction Takes the Lead!

MarketMinute | Multifamily Construction Takes the Lead!

  Consumer retail spending grew for the 6th straight month in September, coming in much higher than expected. The Fed's October Beige Book described economic growth as stable or slightly weaker, with easing inflation and a loosening job market. However, jobless claims dipped again last week, indicating the labor market remains tight and could contribute to continuing inflation. Homebuilder confidence fell in October to the lowest levels since January. High mortgage rates are dampening...

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Credit Tips

Credit Tips

  A good credit score is important for more reasons than just obtaining new credit. These days, it can factor into everything from landing a new job to getting the best deal on your insurance policies. It's more important than ever to avoid late payments on your mortgage! A 100 point drop for one late mortgage payment? It’s true. A single 30-day-late mortgage payment can cause your score to drop by as much as a hundred points. Credit scoring algorithms vary based on many factors, and in some instances, the damage may be even greater and last for years. The Costs Accumulate At the time, a single missed payment will cost you only a late...

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MarketMinute | What's most concerning to home buyers?

MarketMinute | What's most concerning to home buyers?

According to minutes from last month's Fed meeting, officials see a need for ‘restrictive’ policy and higher rates until inflation eases. Wholesale inflation rose more than expected last month. Consumer inflation met expectations but is still higher than the Fed's goal. Jobless claims remained at historically low levels last week. The job market remains strong in the face of higher interest rates. In a Fannie Mae survey, high mortgage rates surpassed home prices as the top reason...

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Mortgage News: Fannie Mae Approves 5% Down Payment for Multi-Unit Homes

Mortgage News: Fannie Mae Approves 5% Down Payment for Multi-Unit Homes

  Exciting developments are underway in the mortgage industry, and we're here to bring you the most significant breakthrough in the mortgage world in the past decade. In order to expand credit availability and access to affordable rental housing, Fannie Mae is relaxing the down payment requirements for owner-occupants on purchase and basic refinance loans for multifamily homes.   Here's what you need to know: Past requirements of 15% and 25% are being changed, and you can now purchase a two-, three- or even four-family home as an owner-occupant with as little 5% down. This change takes effect for loans closing after November 18,...

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