Whether you’re buying a home or simply refinancing, it´s all about finding a lender you can trust who´ll put you into a loan program that´s right for you.
So many borrowers focus exclusively on low rates and low loan costs as their loan search criteria. That often turns out fine, but sometimes borrowers find later that there were conditions to the loan offer or hidden fees and costs.
You may do best by selecting a good local lender who will protect your interests, even if his rate or closing costs are a bit higher than the lowest quotes you get.
You can get great rates and terms from any number of lenders, but finding a loan professional you can trust may be worth much more to you in the long run.
The following posts review some common mortgage finance issues and solutions.
Contact us if you have questions or need a referral to a good local loan professional!
From the category archives:
Mortgage rates in the US hit historic lows this week as fears of new economic weakness and stubbornly high unemployment drove rates down again. 30-year fixed-rate mortgages averaged a staggeringly low 4.49 percent according to the newest data released Thursday by Freddie Mac.
Lowest mortgage rates in over 50 years
Financial commentators said Friday that you’d have [...]
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Take a second to Google “Loan Quality Initiative.” I did and found over 365,000 results on this currently hot topic in the real estate profession.
Pay attention to this reform from Fannie Mae
Fannie Mae recently implemented a reform that may cause trouble for home closings across the US.
With so much information and commentary on this topic, [...]
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Mortgage interest rates dropped to near 50 year lows this past week as institutional investors shifted assets from stocks to US Treasuries in the face of worries about continued European financial instability.
If you are looking to buy a home or refinance your existing home loan, this is an excellent time to take advantage of some [...]
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Back at the start of the year, there was widespread alarm in the media that mortgage interest rates were poised to rise steeply in early 2010. Despite the dire predictions from many financial experts, rates today remain near record lows.
Don’t rely on the experts for your near-term plans
That goes to show that it’s risky to [...]
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Mortgage rates bounced around in a narrow range during the last four weeks as interest rates in general remained low.
Financial troubles in Greece and Spain take upward pressure off rates
Investor worries about financial instability in Greece, Spain and other European countries helped fuel demand for the perceived safety of US Treasury debt instruments, easing any [...]
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Freddie Mac announced late last week that the average rate for 30 year fixed rate mortgage loans fell to 4.99%, marking the third week in a row that rates declined in the US. As tracked by Freddie Mac, 30 year fixed mortgage rates have fluctuated in a very narrow range since last September, hovering around 5%.
After [...]
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Low mortgage rates are causing a spurt in mortgage applications this December. 30 year fixed rate loans averaged 4.81% this week, continuing a year-long run of historically low mortgage interest rates.
Freddie Mac reported on Thursday that the average interest rate for 30 year fixed rate mortgages remained below 5% for the sixth straight week.
Federal Reserve [...]
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The average interest rate charged for 30 year fixed-rate mortgages in the US slipped below 5% again in mid-November. The easy money policies adopted by the Federal Reserve are continuing to keep US interest rates abnormally low.
Low rates stimulate economic growth and help home sales
America’s fiscal policy makers want low interest rates to help the [...]
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The Massachusetts real estate market got some very good news this week. Freddie Mac announced Thursday that the average interest rate for 30-year-fixed-rate mortgage loans has fallen to near-record lows. Average interest rates for other mortgage loan products also sit at or near all-time lows according to figures released by Freddie Mac.
13% decline from May’s [...]
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The $8,000 first time home buyer tax credit is currently set to expire November 30, 2009. That means eligible buyers must take title to their new homes on or before November 30 to receive the credit. Learn about the tax credit here.
The looming expiration is generating debate in Congress whether to extend the life of [...]
Warren Reynolds, Esq, GRI, e-PRO
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