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Our mission at Kittle Real Estate is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Thursday, May 18, 2017

Do These New Financing Regulations Affect You?

There are some important underwriting regulations that have changed recently that we wanted to break down for you. Will you be affected for the better?

Some underwriting guidelines have changed recently and this time, it's actually a good thing. 

Normally a change means these guidelines have tightened up, but they've actually relaxed some guidelines, and Fannie Mae has released a bunch of improvements for the consumer. If you're an investor, have student loans, or own a condo, all of these are relevant to you.

If you've had trouble refinancing your condo and have been told the property is non-warrantable, they will no longer require a condo questionnaire if you want to refinance for a better rate. That's usually where problems arise—things like the condo complex being in litigation or the owner-occupant ratio percentage being off.

"Fannie Mae has finally relaxed some important regulations."

Fannie Mae also reduced the down payment for investment properties from 20% to 15%. Since Fannie Mae allows for up to 10 financed properties, this is true for all 10 if they are a single-family unit, condo, or townhome. It doesn't apply to two- to four-unit buildings.

Finally, there were changes when it comes to student loans. Student debt can be a thorn in your side if you're trying to secure financing because those payments typically need to be calculated into your debt-to-income ratio. Fannie Mae has made it so that the payment that shows up on you credit report is actually the payment used to qualify you. 

If you have income-based repayment, we can now use that amount to qualify you. Additionally, if you have loans you're looking to pay off, you can actually pull equity out of your home to pay them with what's called a 'rate and term' refinance instead of a cash out refinance. The difference is that a cash out refinance has a 0.25% higher interest rate.

If you have any questions about these changes, don't hesitate to give me a call or send me an email. I'm here to help!

Wednesday, May 17, 2017

The Kittle Team’s ‘On the Move Program’ Puts Their Clients in the Driver’s Seat…

When it comes time for you to buy or sell your home in today’s competitive real estate market, it can not only be tough but also quite stressful, especially during the busy summer months – the prime time for big moves.   So, after going through the entire process of finding the perfect agent, listing your home and then quickly selling it, the very last thing you want to do is worry about how you are going to move all your stuff to your brand-new dream home while adding even more expenses to your plate…

Rob Kittle and the Kittle Real Estate team are putting their clients in the driver’s seat by offering their customers complimentary use of their new company moving truck after closing.  “We added this new offering last October to give our clients an easy, hassle-free way to move and to thank them for their business,” says Rob Kittle, Owner/Employing Broker.  “We also wanted to add another service to our full-service real estate model and so far, our clients have been very receptive to our new program and love the moving truck.”

The ‘On the Move’ program by Kittle Real Estate allows their clients to use the Kittle Team moving truck free of charge after closing and whenever they need to use it beyond that.  “We understand that our clients may have the need to use our moving truck even beyond their initial move for new furniture or other needs so we give them time to take advantage of this benefit as long as they remain clients,” adds Kittle.

To learn more about the Kittle Team’s ‘On the Move’ program and other offerings call
Christa Reed at 970.460-4444 or visit and check them out on Facebook; Pinterest; and Twitter.

Monday, April 3, 2017

What Does the Recent Fed Hike Mean for Mortgage Rates?

Today I’m bringing you a quick update on what’s going on in the mortgage world.

In late March, the Fed raised the bank to bank interest rate by 0.25%. However, that doesn’t mean mortgage rates jumped as well.

In fact, the opposite is true. Mortgage rates actually dropped 0.25% following the Fed increase.

"Usually bad news for the economy is good news for mortgage rates."

Bad news for the economy is usually good news for interest rates. For example, the stock market reacted negatively to a few things recently and that was good news for mortgage rates. A 0.25% drop might not sound like much, but on a $300,000 home, that equates to saving $45 a month or $15,000 over the life of the loan. It also means you can get approved for $10,000 to $20,000 more on a home loan.

Most people think the Fed dictates mortgage rates, but the market does. Rates change daily, sometimes even more than once a day. To get the most up-to-date information on mortgage rates, the best thing to do is contact your local mortgage lender. If you need any recommendations, I’d be glad to help out.

If you have any other questions, please feel free to give me a call or send me an email. I look forward to hearing from you!