Now is the time to get off the sidelines if you can:

House loan rates are lower than ever, but borrowers are sitting on the sidelines. If you can qualify, now is an outstanding to jump in the market.  Prices are competitive because the market has been artificially contained by lack of incentive by banks to loan, but once lending becomes less oppressive, the flood gates will open and prices will climb.

Getting past the tougher credit and income requirements:

If buying a home is a top priority within the next year, build up as much income as you can, even if it requires working a second job or staying in a high-paying one you hate. 

What can borrowers do to improve their chances of qualifying for refinancing:

Here’s something that people should do when refinancing to protect their property values – get as much information as possible on comparables in your area because with the current regulations, appraisers are using an one-size –fits all approach that is driving prices down in entire neighborhoods they often don’t know much about.  Provide appraisers with verified comparables. 

The best house loan or refinance deals that borrowers should be aware of:

It is a great time to refinancing in the $417,000 range or lower.  Also, if you own a home and think you are getting a promotion or advancement in your career, there are aggressively priced shorter-term products that are at least a half point lower than a standard 30-year fixed.  Finally, if you are 15-years into a 30-year mortgage and feel you will have the income for slightly higher monthly payments, refinancing to even a 10-year fixed could save you thousands of dollars down the road.