Archives for the 'Interest Rate' Category

JUMBO RELIEF

It looks as though Fannie and Freddie have decided to lower the rates on those “jumbo” conforming loans.
Remember that Fannie and Freddie increased conforming loan limits–in certain geographic areas–so that borrowers with larger loans could benefit from lower, conforming interest rates and, to some extent, conforming loan underwriting qualifications.
However when these jumbos came out the […]

25 May 2008 | First Time Homebuyers, Programs, Interest Rate | No Comments

ANGRY ABOUT YOUR MORTGAGE OPTIONS?

I read this recent blog post and got angry myself. For a different reason than the writer.
He seems to be upset because banks/lenders are using systems to offer higher rates to current, valued clients. Hmmm….. At first glance I would agree and be upset. Yes, you want to give your best customers your best products […]

8 May 2008 | First Time Homebuyers, Loan Officers, Interest Rate | No Comments

CONFORMING LOAN LIMITS GOING UP UP UP…HOPEFULLY

The US Congress passed a stimulus package.  We all need stimulation right now. 
Regarding the mortgage industry, one item stands out.  If the President signs the bill, there is a good possiblity that the conforming loan limits will increase.
It is estimated that conforming loan limits for 1 unit properties will go from the current $417,000 to (an […]

12 February 2008 | First Time Homebuyers, Fixed Rate/ARM, Programs, Interest Rate | No Comments

REFINANCING YOUR MORTGAGE(S)…NOT SO EASY

About this time, just around the holidays, many people look to re-finance their mortgage. Or both of their mortgages. Sometimes to get some extra money for gifts, and sometimes to pay off credit cards.
It has been common, when buying a home and putting down less than a 20% down payment, to use a 2nd mortgage. […]

26 November 2007 | First Time Homebuyers, Programs, Interest Rate | No Comments

Attention Mortgage “Shoppers”: Interest Rate Is The Last Thing To Discuss

I know, I know. You want to know the rates for today (aka rates du jour).  I can’t tell you that. And: I won’t tell you that. Not on the phone, not without meeting with you and reviewing your financial documents, and not without discussing programs and how to structure the loan (and there could be […]

24 June 2007 | First Time Homebuyers, Fixed Rate/ARM, Interest Rate | No Comments

All Locked Up

Please don’t wait!
Secure your loan and interest rate. Now.
Rhonda Porter does such a fabulous job in explaing how this all happens and how to work with your loan officer correctly, that I think you should go directly to her post. An excellent, thorough post.
And notice what she writes at the end, “What ever you do, please […]

8 May 2007 | First Time Homebuyers, Good Faith Estimate, Interest Rate | 1 Comment

• Earlier Posts