Get The Good Rates or Pay The Toll I am stealing that line from Neil Cavuto of Fox Business Network. In a recent broadcast of Fox News, Cavuto mentioned how someone asked him about mortgage rates. The person was hesitant to buy a new house because mortgage rates went back up. Cavuto asked him what [...]
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Mortgage Prequalification VS Mortgage Approval OK, by now most Consumers realize that they should have financing in place before even starting to look for real estate – so I won’t beat up on that topic any more! (BTW – even if you’re not a first time buyer take a look at First Time Home Buyers [...]
Continue reading about Bonita Springs Florida Monday Mortgage Report 06-01-2009
Congratulations! Your mortgage Was denied Many people in today’s market are hesitant to apply for a mortgage, whether it be a purchase or refinance. They are scared, or more so embarrassed, about the possibility of being denied for the loan. However, those that are denied for a mortgage are one step closer to getting approved [...]
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Are you too late to the home buying or refinancing game? Some people still think that things are going to get better. So I decided to hold off one week on writing something, so this way I could write on what did happen. As they say, “Hindsight is 20/20.” Now, there is no arguing that [...]
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Mortgage Rates Hit 5 Year High This week it is projected that mortgage rates will reach a 5 year record high. Thanks to declining markets, credit lending guidelines tightening down, banks going out of business or merging to avoid bankruptcy, and many other economic factors, potential homeowners will now be facing an even more difficult [...]
Continue reading about Bonita Springs Florida Monday Mortgage Report 04-27-2009
The Fleecing of American Home Owners If you’re a home owner fortunate enough to have a job and a home without a mortgage or a least reasonable payments on your home watch and learn what someone in dire straights has to go through to get a loan modification. It’s an abomination that the banks are [...]
USDA 100% Financing Gets An Income Facelift Effective Monday, April 20, 2009, the income eligibility guidelines for USDA 100% guaranteed mortgage loan financing will be changed. The change, unlike most changes in our current mortgage industry, is for the better. So what is the change?… Higher income limits in bracketed tiers versus the original per [...]
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Bonita Springs Refinance Rates Still Below 5% Recently, President Obama talked about the record low interest rates available for home loans and how this is a great time for millions of homeowners to refinance. Quite a few news sources criticized him for sounding too much like a salesman – but hey, they have to have [...]
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Foreign Buyers Mortgage Guidelines One of the questions home owners ask their agent when they list their home is “What about foreign buyers?” Ah, yes, the foreign buyer’s whose money is worth gobs more than American currency after conversion. The foreigners simply must be snapping up real estate hand over fist just to take advantage [...]
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Mid Week Mortgage News Alert Two weeks ago, President Obama introduce his plan to stave off foreclosures by giving incentives to banks to help homeowners that are not currently in default lower their payments and take advantage of lower rates. Today, that plan was approved and rolled out by Fannie Mae through its Home Affordable [...]
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HomePath Mortgages – What You Need to Know Earlier in the month, I discussed the new Fannie Mae mortgage loan program, HomePath : no mortgage insurance, no appraisal, low down payments, and contributions up to 6% of the purchase price. Now that the program has been running for a couple weeks, I am going to [...]
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Should You Refinance the Mortgage on Your Bonita Springs Real Estate? That’s a very common question and the basic answer is: If you can save money, then yes you should. BUT- To arrive at the conclusion that you will actually save money, you’ll have to look at several things: #1 How much will it cost to [...]
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Truth in Lending | Good Faith Estimate ‘Transparency’ is one of those terms that gets thrown around a lot in the mortgage world these days. It’s actually pretty simple – you as the Client should be able to see everything that’s going on with the home loan that you are getting for your purchase (or re-finance). Nothing [...]
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USDA Rural Land Development Loans You have another choice for financing property in Florida – have you heard of USDA mortgages? Most people aren’t familiar with that program- We’re all bombarded by Freddie, Fanny, FHA, VA, etc – but USDA financing is alive and well and available in a much larger area then you might [...]
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Those Who Wait, Lose – Agonizing Over Financing There’s been quite a bit posted lately about mortgage rates – they’re going up, they’re going down, what’s the Government going to do, etc. There’s nothing wrong with wanting to get the best deal possible and save a few $$ – but people have been taking things [...]
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