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May Housing Market Analysis

May 31, 2017 Housing Market for May 2017

Part of our mission at First Option Mortgage is to keep you informed about the latest trends in the housing market. Whether you’re trying to find a fixer-upper or the home of your dreams, we want you to have the best information possible so you can go into the market with the knowledge and confidence […]

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Understanding Your Mortgage Payment

May 01, 2017 Understanding your mortgage payment

Your home is one of the most important purchases you’ll make in your lifetime. But paying off a mortgage isn’t like paying down a car, credit card, or student loan. Just like owning a home, it’s complex, and a variety of factors go into determining your monthly payment. Main factors Size, or principal, the amount […]

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How to Prepare for Mortgage Rates in 2017

January 18, 2017

After the Great Recession, the Federal Reserve set its benchmark interest rate close to zero to boost the economy. Since then, financial recovery and job growth have led officials to approve an interest rate increase. Interest rates control many factors, and a change in rate can create a domino effect to your home loan eligibility. […]

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Tips for Converting Your Garage Into a Living Area

January 18, 2017 tips on how to convert your garage into a great living area

See that little 500-square-foot house sitting right next to your house? Oh, you call it a garage? And you let your car sleep in there? Rent free? That’s a shame. Because that dingy old garage could easily become an extra bedroom, a home office, a man cave, a playroom, a gym, or even an apartment […]

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Why Denver Is Ideal for Millennials

January 16, 2017 Denver is attracting all kinds of real estate attention, especially among millennials. Find out why!

As we discussed back at the end of 2016, millennials — or those born between 1982 and 2000 — have become the dominant force in home purchasing, grabbing 35 percent of the entire market. And that trend looks to be continuing into 2017, for the fourth year in a row. But what’s the best city […]

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Exciting Industry News: FHA Loans Just Became More Affordable

January 13, 2017 FHA Reduced Annual MIP

Whether you are ready to buy now or waiting until spring, exciting industry news will impact first-time buyers and those looking to refinance their FHA loan. Starting January 27, 2017 the FHA will reduce its annual mortgage insurance premium (MIP) by a .25%! While this may not seem like a significant reduction, it is believed […]

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The 2017 Housing Market Forecast

January 11, 2017 Last year was great for the real estate industry, but will 2017 be just as healthy? Here are our predictions.

We’re pretty happy 2017 is finally here. If you’re a homeowner, you’re probably happy about that as well. But what if you’re in the market to buy a house? Will this be your year too? We recently examined the highs and lows of the 2016 housing market to see where we’re at now, and where […]

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