Thursday, November 20, 2014


For consumers who are considering purchasing a new home, questions will certainly arise about financing. How much can I afford? What mortgage products are available? Which type of loan will work best for me given my income and financial situation? What is the difference between being pre-qualified and pre-approved for a loan? These are all questions that are likely to be asked.

Obtaining proper guidance about mortgage loans has become even more important in recent years as mortgage lending standards have tightened, making it more challenging for home purchasers to go through the mortgage qualification process.

But the housing market received a boost recently when federal regulators made some significant changes to mortgage rules that housing experts predict will make it easier for qualified homebuyers to access financing. Regulators agreed to drop a proposed requirement that borrowers make a 20% down payment to qualify for a low-interest, high-quality mortgage.

This is welcome news for homebuyers in many markets who despite having strong credit scores and stable employment would find it difficult to save for a large down payment. The new rules ensure that “responsible homebuyers have access to safe and affordable credit,” according to the National Association of Realtors.

The National Association of Home Builders also praised the new rules saying they would “help ease tight credit conditions for borrowers and reduce future defaults without punishing responsible borrowers and lenders.”  

If you need financing to purchase a property, it is prudent to consult with a Coldwell Banker Residential Brokerage affiliated real estate professional before beginning the home search. The Newport Group of Coldwell Banker Residential Brokerage  has affiliated partnerships with mortgage lenders and a sales associate can quickly connect you with an experienced loan advisor who can assist you. 

Whether you’re a first-time homebuyer, or a home seller looking to move-up or downsize, you can learn more about your mortgage options by contacting a The Newport Group-Coldwell Banker Residential Brokerage sales professional today. 

Call today 305-849-3339
or email us


Sunday, November 16, 2014

Use a Real Estate Agent Even After Finding Your Perfect Home

With the vast amount of real estate information available online, some home buyers choose not to hire a real estate agent at all. While you may succeed in finding a home, an agent is extremely helpful in the negotiation process. He or she also helps to ensure you don't miss relevant legal documentation or paperwork which could cause trouble later.

A good real estate agent can have years of experience in a local area and may know what the best neighborhoods are just from your description of your ideal home. In addition to their ability to find more listings and efficiently narrow things down, agents stay informed about current developments in a neighborhood, which may be difficult for home buyers not from the area.
Lisa Morrison and The Newport Group are the trusted experts in the Real Estate Market in Newport, Rhode Island and the surrounding areas. Their diverse team of Real Estate Professionals can give you insider knowledge about the local housing market, schools, community activities, local restaurants and more. 
Learn more about Lisa Morrison and The Newport Group-Coldwell Banker Residential Brokerage here: