Team Thayer Property Servicing

The  April 2015 First-Time Buyer Mortgage Risk Index  (FBMRI) for Agency loans increased by nearly a full percentage point year-over-year up to 15.28 percent, indicating that those mortgage loans are moving deeper into the high-risk category, according to data released this week by the American Enterprise Institute (AEI)'s  International Center on Housing Risk . Risk layering is largely responsible for the increase in risk on mortgage loans taken out by first-time buyers, according to AEI. Seventy percent of first-time mortgage buyers in April 2015 had a combined LTV ratio of 95 percent or more and 97 percent of them had a 30-year term. Without substantial home price appreciation, the low down payment and slow amortization makes it likely that these first-time buyers will have very little equity in their homes for many years. Also contributing to the higher risk among first-time buyers is that approximately one-fifth of them fit the traditional definition...

Buying an Existing Home Advantages:  2 main advantages of buying an existing home is convenience and cost. Also having a qualified  real estate agent  to guide you through the process is a huge advantage. The convenience of being able to move right away is one of the strengths for people buying a new home. This is especially true for people on a tight schedule for people getting a new job or children starting a new school. For the cost, in many cases it is cheaper to buy an existing home especially since prices have dropped in the past year. Finally one last advantage is being able to live in an already established neighborhood with mature landscaping. Disadvantages : One of the biggest disadvantages is that you won’t get exactly what you want in a home. The bathroom may be off, the floor plan might not fit your needs, and some of the older homes are functionally obsolete. Unless you are able to find your perfect home that has everything you want, you will have to...