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 average rate for a 30 year fixed-rate mortgage dropped a bit this week despite the release of an economic report that showed less weakness that expected in the overall US economy. Signs of economic strength usually send mortgage rates higher, but such was not the case in this instance.
Freddie Mac reported that the interest [...]
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After peaking at nearly 5.6% on June 11, the average 30 year fixed mortgage rate as tracked by Freddie Mac dropped to 5.2% in the succeeding 4 weeks. This 7% drop in rates roughly coincided with weakness in US stock values and world oil prices over the same general time period.
Mortgage interest rates appear primed [...]
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Interest rates generally fall when the economy falters and rise when economic expectations turn bullish.
With retail sales rising, the Fed announcing that the worst of recession may be past, and U.S. consumer confidence reaching a nine-month high in June, is it any wonder that mortgage interest rates rose over the last 2 weeks?
And the recent [...]
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4.84% is the current national average for 30 year fixed rate mortgages according to the Federal Home Loan Mortgage Corporation (Freddie Mac) in a report released May 7, 2009. This was essentially the same rate as quoted by Freddie Mac for 30 year mortgages at the start of April 2009 (4.78%).
You may be hearing the [...]
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The average rate for 30-year fixed-rate mortgages dropped below 5% early in April 2009. The average rate now is 17% lower than it was one year ago. This makes now a perfect time to refinance your current mortgage (or buy a new home).
The average 30 year fixed rate was at 4.87% rate on April 8, [...]
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The Federal Reserve is taking remarkable steps to drive mortgage rates lower. This push to reduce rates demonstrates that the US government is fully committed to re-inflating the national housing market.
Mortgage interest rates are already at levels not seen since their historic lows of 2003.
As reported by the Federal Home Loan Mortgage Corporation, (Freddie Mac), [...]
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If you’re interested in buying a foreclosed home in Massachusetts and will live in the property as your principal residence, there is a new program that may help you.
Massachusetts recently announced modifications to the previously existing “SoftSecond” loan program which are aimed at encouraging low-and-moderate income buyers to purchase foreclosed homes in designated hard-hit areas [...]
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The 203K loan program helps finance the sale and repair of single and multi-family properties not exceeding 4 units. (We’ll exclude condominiums from this discussion; 203K loans for the purchase and rehab of condominiums can also be obtained, but under some additional guidelines).
The 203K loan program enables buyers to finance the estimated cost of repairs [...]
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The Internet is a great source of information and makes it easy to compare products, services and prices.
But you can encounter a hidden risk when you evaluate competing mortgage loans on-line: a lot of the mortgage websites you visit really are secret “stealth” sites that exist solely to generate mortgage leads.
Mortgage “stealth sites” abound on the [...]
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You don’t need 20% down to buy a home, even with today’s tight credit standards.
FHA loans (administered by the US Department of Housing and Urban Development) are a very popular choice for home buyers because they require only 5% or even 3.5% down!
Here are some of the advantages of FHA loans:
Low Rates
FHA loan rates [...]
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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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