Mortgages rates across the board improved today on the news of the unemployment rate falling to 8.6% from 9%. The unemployment rate has not been this low for 2 1/2 years. Initially, the stock market improved on the news on .4 % change in the unemployment rate with a liquidation of bonds. During trading this…
For financing real estate, the 30 year fixed-rate mortgage still remains the most popular home loan for borrowers. The majority of borrowers today take out 30 year fixed-rate mortgages because of the flexibility and comfort of a long-term fixed rate. 30 year fixed-rate mortgages today contain no prepayment penalties unlike their counterparts from a few…
People purchasing real estate today often times are faced with procuring gift monies in order to bridge the gap between being preapproved to closing escrow on a property. Many times gift monies can be an excellent source of additional funds needed for loan qualifying or down payment purposes. If you are going to be purchasing…
The Federal Reserve’s minutes of the last meeting came out yesterday and it was revealed the Federal Reserve will continue to inject money into the economy to spur economic growth in the form of quantitative easing. The Fed meeting minutes also revealed they are positioning themselves to be in lockstep coordination with the financial markets.…
For every homeowner who is upside down on their mortgage, this is for you. An upside down mortgage is when somebody owes more on their mortgage balance than their home is worth, hence the term underwater. People who are underwater on their mortgage have limited options unless their mortgage loan is owned by Fannie Mae…
Ever begin shopping for a mortgage loan and then realize the mortgage company you selected isn’t the right fit for you? If yes read on…. Everyone wants a combination of the best interest rate, fees and terms available on any given day for their mortgage loan scenario. Whether a purchase scenario or a refinance scenario,…
The decision to buy a home is a smart one. Real estate prices have never been more affordable and interest rates have never been lower creating a win-win scenario for people entering the market. Many people ask the question “how do I purchase a home? If you’re thinking about buying a home here the eight…
The role of the second mortgage in a refinance situation can sometimes be a challenging obstacle to overcome. Second mortgages usually come in the form of a (HELOC) home equity line of credit or an equity line behind a first mortgage secured against a primary residence, second home or investment property. As values in Sonoma…