Mortgage / Interest Rates
« Previous EntriesHow Much Down Payment Do You Need to Get a Loan?
Friday, September 16th, 2011The amount of down payment needed when buying a home depends on the type of loan you are going to use. FHA loans are a great way to start when you have a low down payment. The minimum down payment requirement on a FHA loan is only 3.5 percent of the mortgage amount. But there [...]
20% Down On Home Purchases? Yikes
Thursday, June 30th, 2011A proposal made by a group of Federal Regulators would require buyers to put 20% down on all future home loans. If this proposal is adopted, it will make it difficult for a major segment of the population to qualify for a home loan. But an advocacy group, “The National Community Reinvestment Coalition” is advocating [...]
Favorable Conditions for Buyer’s
Monday, March 21st, 2011According to the National Association of Realtor’s latest outlook shows improving economic conditions and strong affordability are positive factors for the coming months. Modest gains in the labor market and the improving economy are creating more favorable conditions for buyers. This is allowing them to take advantage of excellent housing affordability conditions. Mortgage rates should [...]
Mortgage default notice slowed!
Tuesday, February 15th, 2011Image Courtesy: Constance McGuir In January, fewer homes entered the foreclosure process than any month in the last couple of years. This is a sign that lender’s are not aggressively moving against home owners who have fallen behind on mortgage payments. Default notices fell one percent (1%) last month from December of last year, and [...]
Bank Bailout
Thursday, January 20th, 2011Citi Group, the third largest bank by assets, was on the verge of being shut down in the fall of 2008 by bank regulators, according to a government report. The report stated that during 2008, the bank could not meet its liquidity obligations and without substantial governmental support, Citi Group would have close its doors. [...]
Fannie Mae Interested In Helping The Condo Market
Monday, September 20th, 2010Fannie Mae, a governmental mortgage investment agency, is in the process of approving many more new condominiums in Florida to finance. This will allow individual unit buyers to obtain conventional loan at a low rate with the intent of improving the buying and selling activity in the condo market. The shift in policy was do [...]
Fannie And Freddie Make Changes For Condominiums
Thursday, May 6th, 2010Fannie Mae and Freddie Mac (FHLMC) have made changes to lending rules that make it easier to buy and sell condominiums. The new rules allow for condo purchases in financially troubled complexes if the existing loan is securitized by FHLMC. This will increase the financing availability for condominium through March 31,2011. Fannie Mae is making [...]
New Changes To The HUD-1 Settlement Statement
Friday, January 22nd, 2010Our team took a class yesterday (thanks SETCO!), letting us know everything about what’s being changed on the HUD-1 Settlement Statement as of January 1st, 2010. The class was given to us by George Brannon Sr, one of the smartest men we know. Anyway, a lot of things have changed on the HUD-1 Settlement Statement [...]
Now’s Still A Great Time To Get A Low Interest Rate
Monday, December 14th, 2009It’s still a good time for real estate buyers to get a mortgage loan under 5 percent. Last year around this time, the average rates were hovering around 5.48 percent and it has declined over the succeeding months. So, it’s a great time to buy a home or condo with rates this low and prices [...]
Freddie Mac Home Loan Modification
Thursday, October 8th, 2009Freddie Mac, a secondary mortgage provider, has hired a private vendor to go door to door in an effort to help home owners modify their loan. Many eligible owners who are facing foreclosure are not responding to service’s inquiries from mail and phone calls. Many do not know that they are qualified for the President [...]
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