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:
The FHA recently began implementing previously proposed changes to its guidelines governing government-insured mortgage financing for condominiums. Among these new FHA mandates is a requirement that condo associations carry large capital reserves. Many finance experts are predicting that most mortgage lenders will incorporate similar requirements into their own underwriting guidelines, making the new prerequisites almost [...]
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Mortgage rates are supposed to rise in 2011, according to the general consensus of the finance industry at the start of the year. But here we are more than a quarter of the way through the year and interest rates remain essentially unchanged. Does anyone really know where rates are headed? We’ve seen recent predictions [...]
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If you’re thinking of buying a home or refinancing your current mortgage, you may have a once in a lifetime opportunity! 30 year fixed rate mortgages have reached shockingly new lows. Mortgage rates are so low now that they may justify your taking on mortgage debt in a strategic move to lock in today’s minuscule [...]
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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 [...]
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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 [...]
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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 [...]
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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 [...]
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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, [...]
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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%. [...]
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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. [...]
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Warren Reynolds, Esq, GRI, e-PRO
Tel: 508.613.2889 | Contact
Century 21 Commonwealth
15 West Central Street
Franklin, MA 02038
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