Kathy Lyon

On Wednesday The Federal Reserve lowered interest rates by a quarter percentage points to around 2.25% from about 2.5% the last rate decrease was in 2008. That means that rates are at historical 3-year lows!

I strive to make sure homebuyers are matched with ideal mortgage solutions that meet their individual needs.

We offer many loan options to match homebuyer needs. I'm happy to help you determine which program will work best for your mortgage needs.

Knowing where to compromise might be essential in winning a potential bidding war as the housing market heats up. A compromise might include overlooking some things you don’t like that are essentially an easy fix - like bathroom fixtures and basic kitchen improvements. Also, consider what can get you into a neighborhood that you normally couldn’t afford, like being close to a main street if that doesn’t bother you then it’s possible the property in the area you love is in your price range.

While it's true that buying a home remains one of the most stable investments people can make, there are many more advantages to homeownership. Owning a home can also mark the beginning of positive events, like starting a family or having the best place for fun gatherings, as well as opportunities like custom remodeling and using the equity to pay for future expenses. Please feel free to contact me with any home loan questions!

More than 8 million homebuyers are leaving money on the table by not refinancing. It’s estimated that 8.2 million borrowers could refinance and lower their interest rates, according to a CNBC Market report published today. The average borrower could save about $266 per month, bringing the total amount of potential savings to about $2.2 trillion. Feel free to contact me to see if you’re one of the many people who could save by refinancing.

As mortgage rates have fallen this month, realtors from across the nation have reported an uptick in the number of people wanting to buy homes and a surge in mortgage applications. This is a reflection of the impact that low rates are having on homebuyer demand nationwide. If now is the right time for you to start seriously home searching, I’d recommend getting pre-approved for a home loan. Contact me to find out how easy the pre-approval process can be.

Besides getting pre-approved for a mortgage, there are a few more house hunting tips you might want to consider to maximize your time while on the hunt 1. Make a list of items that you absolutely must have so you can skip the houses that won’t meet your needs. 2. Find a real estate agent who can take you around to the houses that match the criteria on your ‘must have’ list.... 3. Group properties by neighborhood so you can get a feel for the area while you look at houses. 4. Take photos and notes of all the positive and negative things you like/dislike about each home so you can make a detailed pro and con list when it comes time to narrowing in on your top choices.

Monday Motivation! I hope everyone's week is off to a good start. If you have mortgage questions or need to get pre-approved for a home loan, just contact me.

As the end of summer approaches, I wanted to share a maintenance tip to protect your home. MAINTENANCE TIP: Clean away dust and debris from the surfaces of the deck, patio, and porch spaces and look for signs of cracking, chipped paint, or holes. You can use wood putty or stone filler to repair any surfaces areas that have been damaged during the summer. And, make sure to repaint the surface before the wet fall weather begins.

If you’re looking into buying a new home and doing some comparing shopping this weekend, remember it’s always smart to get pre-approved for a home loan first. So, when you finally find the home that best matches the look you want, you’ll be ready to show the seller that you’re a serious and prepared homebuyer.

Q: Is a fixed or adjustable rate mortgage better? A: A fixed-rate mortgage has the same interest rate for the life of the loan and is a popular type of financing because it offers predictability. An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that can change periodically, meaning monthly payments can fluctuate. Many ARMs will start at a lower interest rate than fixed rate mortgages. This initial rate may stay the same for months, one year, or a few ...years but when this introductory period is over, your interest rate will change and the amount of your payment is likely to go up. So, deciding on a fixed or adjustable mortgage may depend on how long you plan on living in the home. If you don't plan on being in the home you buy for more than a few years, an adjustable-rate mortgage could save you money in interest.

Applications to refinance are up, way up! Mortgage interest rates have been falling since May, and fell even more this month, so borrowers are rushing to refinance. Most borrowers refinance to lower their monthly payments, others are looking for different mortgage products, and some people are looking to consolidate student loan and credit card debt into one loan at a lower rate. If you're one of the many people looking to refinance, I can help.