Archives for March 2013

How Late Payments Affect Your Credit Score

In today’s world of large purchases and electronic purchasing we use credit to do a great deal of our business. Whether you’re applying for a home loan or a credit card having a good credit score is your ticket to obtaining a home loan in the Cedar Rapids or surrounding  area. Your credit score is incredibly important and can directly affect your way of life. There are some definite ways to maintain your credit score and therefore your way of life. One important way is by paying your bills on time consistently. According to a recent article on a single late payment … [Read more...]

Home prices up in Iowa, sales dipped slightly in February

Press release from the Iowa Association of Realtors (IAR), home prices were up substantially in February, while sales dipped slightly. In its February 2013 Housing Trends Report, IAR reports the median sale price jumped 12.9 percent and the average sale price was up 11 percent. The median sale price was $118,000 this February and $104,500 in February 2012. The average sale price was $141,326 this February and $127,264 in February 2012. Twenty-six of the 44 local Realtor boards in the state reported increases in the median sale price, and 28 had increases in average sale price … [Read more...]

Is our county one of the fastest growing county in Iowa?

Ever wonder what county has had the most growth in Iowa?  According to the US census bureau Dallas county grew 8.8 percent since 2010 and is ranked number 14th in the nation for growth.  Considering that is about 5, 382 people from 2010 to 2012 for a grand total of 71,967 people, that is pretty impressive.   The Census bureau keeps track of births deaths, and migration between 2010 and 2012.  They reported that they had gained 9,269 people from other countries but lost 3,274 to other states.  Counties seem to be growing more in the metropolitan areas, according to Gary Krob, coordinator … [Read more...]

Can you still deduct your Private Mortgage Insurance on your Taxes?

It’s pretty exciting when you’re looking for your home and getting your financing in order. There are so many things to know and do, it can be overwhelming. What if you don’t have enough money to make a large down payment? Are there still ways to purchase a home in the Cedar Rapids and surrounding area? Your lender may have a solution requiring Private Mortgage Insurance, if 20% is not available for down payment on the purchase of your home. Private Mortgage Insurance (PMI) is actually an insurance policy taken out in for the bank in case a buyer (you) defaults on your loan. It’s taken … [Read more...]

Can you make a comeback after a foreclosure in the Cedar Rapids area?

The past few years have meant some pretty rough economic times for many in the Cedar Rapids and surrounding areas.  As a result we’ve seen a record number of defaults on home loans. But does a temporary set-back in your financial situation mean that you should never know the joy of owning a home again? Absolutely not! With the right circumstances after just a few years you might find yourself capable of owning another home. The following are some waiting periods for obtaining a home loan following a foreclosure, short sale or deed in lieu of foreclosure: Seven years for buyers … [Read more...]