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fha: Mortgage Rates Settling Above All Time Lows - 11/30/10 02:15 PM
30 year fixed mortgage rates are settling at levels significantly higher than all time lows set just weeks ago. Conforming 30 year fixed mortgage rates today are at 4.25% for well-qualified borrowers who pay a standard origination fee (points) of .07 to 1%. Current 15 year fixed mortgage rates today are at 3.75%.
FHA mortgage rates, which are driven by the same mortgage-backed securities prices as conforming fixed mortgage rates, are also up about a quarter percent higher than they were two weeks ago and are nearly identical to conforming mortgage rates today. Today's California 30 year fixed FHA loan rate is 4.125%. … (1 comments)
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fha: Pre-Qualifying for a Mortgage - 11/15/10 03:23 PM
One of the first steps to take as a potential home buyer is to get pre-qualified for a loan. This step helps both you and your lender learn just how much home you can afford. And you should begin this process before you even start looking for a home.
According to the Federal Housing Administration (FHA), their pre-qualification essentials include:
Having a steady employment history, at least two years with the same employer. Consistent or increasing income over the past two years. Credit report should be in good standing with less than two thirty day late payments in the past … (0 comments)
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fha: Higher Conforming Loan Limits for Another Year - 11/12/10 02:05 PM
In what's at least a year-long reprieve from some higher housing costs, President Obama recently signed legislation that comes with a provision to extend the current high-cost-area conforming loan limit through 2011.
The provision means homebuyers and homeowners in expensive housing markets will continue to get a break on interest rates when they buy or refinance.
Conforming loans come with cheaper rates than non-conforming or so called "jumbo" mortgages, because they are backed by the government.
On October 26, Erate.com reported the average rate for 30-year, non-conformingjumbo loans came in at an average 5.14 percent. Meanwhile, conforming loan rates averaged 4.45 … (0 comments)
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Miro Fitkova
Boston,
MA
More about me…
Fitkova Realty Group
Address: 1318 Beacon St., Suite 16, Brookline, MA, 02446
Office Phone: (617) 232-3220 x 101
Cell Phone: (617) 921-9952
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