Ibex Capital Mortgage

07/31/2024

It's that time of year where more houses go on the market and competition heats up! Are you ready? Give us a call to make sure you're in the best possible position to make the offer that wins.

07/31/2024

This is a rapidly changing lending environment, and we are at the forefront of helping our client stay up-to-date on those changes, so that we find the BEST loan program for YOUR situation.

Because of our push to stay on the cutting edge of mortgage lending we:

Are equipped with a HUGE selection of mortgage products and programs
Have the LOWEST rates available
Quick Prequal‘s
Extremely FAST approvals
Appraisal waivers on MANY programs
Industry BEST customer service
ACCELERATED underwriting and funding times

07/31/2024

We know that this is most likely your biggest investment decision you may make in your life, and we respect that decision. That’s why we want to be your mortgage partner for life. Because when you have decisions to make now and down the road, decisions that impact your home, your finances, and your family, we want to make sure you’re able to take advantage of all of the financing programs and tools available.

07/31/2024

07/31/2024

We know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all, quality service and individual attention. Today’s technology is providing a more productive environment to work in. For example, through our website you can submit a complete online, secure loan application or pre-qualify for a home loan. You may also evaluate your different financing options by using our interactive calculator, and going over various mortgage scenarios.

07/31/2024

5 Telltale Signs of an Overpriced Listing

1. It’s been on the market awhile. If a home was listed several weeks or months ago, it could mean that something about the property made other buyers avoid offering. If the reason isn’t obvious, asking for your agent’s input or taking a thorough tour are both good ideas.

2. The price doesn’t compare to neighboring offers. You can ask your agent to do a comparative market analysis (CMA) on a listing. This will provide an expert check on how the price compares to similar properties in the area.

3. It has recent (needless) upgrades. Making essential repairs (like new roofing) before selling is common practice. But not all upgrades add value, and some sellers use low-effort renovations (e.g., new wallpaper) in order to justify a much higher price.

4. The price per square foot is high. This number can be especially helpful if there are not many comparable listings nearby. However, keep in mind any valuable property features that might warrant a higher price per square foot.

5. It has a shifty market history. Has it been bought and sold repeatedly in the past few years? Did pending sales fall through? You may want to ask your agent about it.

Ready to start your home search? Get in touch to set your home financing journey up for success.

07/31/2024

New Home Checklist Before Moving In

Locate the breaker box and water shut-off valves. Knowing where and how to shut your water and electricity off can be critical in emergencies like a burst pipe.
Change the locks. There’s always a chance copies of the keys you received are floating around somewhere. A locksmith can install brand-new locks on all entryways before you move in.
Reset the garage door opener. Similarly, the garage door opener will need resetting. You might want to have the manual lock changed out as well.
Install or replace batteries in carbon monoxide and smoke detectors. Make sure these safety devices are operating at move-in — though hopefully you’ll never need them.
Meet the neighbors. Get the names and contact info of your next-door neighbors. You never know when members of your new community could lend a helping hand (or vice versa), so the sooner you introduce yourself, the better.
Check and replace air filters. For optimal performance, HVAC systems need new filters about every three months. Check the unit and note the correct size and brand as soon as possible.
Clear the gutters. Clogged gutters won’t drain properly and can potentially damage your roof. It’s a good idea to check on your gutters seasonally after moving in.
Need help covering home repairs or buying your new home? Get in touch to discover your options today.

07/31/2024

Adjustable-Rate Mortgages Demystified
1. The rate is temporary. As per the name, ARM interest rates are not meant to last. This means the aforementioned 5/1 ARM would only offer that 4.2% interest rate for the first five years; rates adjust yearly thereafter.

The higher current rates are, the more people who believe these adjustments will provide lower rates later — but their rate could increase instead, and there’s no way to know for certain when you sign.

2. Rate adjustments are capped. Adjustments have a maximum potential increase or decrease each period. The rate cap is important to make note of when reviewing loan terms.

That being said, it’s possible avoid steep rate hikes using strategies like refinancing into a fixed-rate mortgage. However, exit plans can come with caveats: Refinancing, for example, could mean losing progress in your amortization schedule.

3. There are many different ARM options. The first number represents the fixed-rate period (e.g., five, seven or 10 years) while the second refers to adjustments (e.g., every year or six months). This means a five-year ARM can be either a 5/1 ARM or a 5/6 ARM.

The variety creates differing risk (and reward) levels; shorter fixed-rate and adjustment periods

07/31/2024

4 Financial Planning Myths Busted

Myth 1: Savings are only what’s in your bank account.
For loan applications, your liquid assets are your savings, and personal bank accounts are only a part of it — 401(k)s, brokerage accounts, IRAs and more are also considered savings. Once you tally up all of your liquid assets, you might be surprised by the amount!

Myth 2: Investing isn’t worth it unless it’s a large amount.
Small amounts of money can be a smart investment, especially if they have plenty of time to gain interest. In fact, investing meager amounts of money consistently over time can make a big difference in your financial future.

Myth 3: Debt is always bad for credit.
Only debts you don’t pay on time or that take up too much of your income hurt your credit score. If you keep your balances in check and always pay on time, debt can actually help your credit score quite a bit — and even make it easier to qualify for loans, too.

Myth 4: Small balances can raise your credit score.
Constantly carrying a balance won’t improve your credit score, but paying it off regularly will. You’re charged interest for remaining balances, so it won’t benefit you.

07/31/2024

3 Ways to Reduce Your Mortgage Costs

1. Refinancing: Through refinancing, you can change the length of your loan (also called the term). If you choose a longer-term loan, for example, you can spread your balance out over more months to reduce your monthly payments. Refinancing also allows you to switch loan types (which can also lower your payments), get a new interest rate, or adjust other elements of your loan.

2. Putting Extra Money Toward Your Principal: Some loans have penalties related to paying off your loan early. But for those who don’t have prepayment penalties, making extra or larger payments lets you pay off your loan faster, can reduce your long-term interest costs, and can make you eligible for recasting.

3. Recasting: Mortgage recasting is when your monthly payments are recalculated based on your current loan balance. If you’ve paid down your loan quite a bit or put extra cash toward it, recasting could reduce your payments and change your term length without the need to refinance.

07/31/2024