USDA Loans adding monthly PMI in October 2011 - 06/14/11 06:07 PM

USDA Rural Development has long been the 100% financing leader for a lot of areas across the nation. One of the major benefits of this loan product was that it required no monthly escrows for an annual mortgage insurance (MI). MI is sometimes referred as PMI, and the loan is advertised many times as 100% Financing with No PMI. That’s all going to change come October 1, 2011. USDA issued Administrative Notice 4551 on February 24, 2011 that alluded to this upcoming change. The change has been confirmed in an email that also included instructions on how to calculate the … (0 comments)

Brandon's Weekly Mortgage Commentary - Week of 6-12-2011 - 06/13/11 09:49 AM
Here is this week's weekly mortgage commentary for the week of June 12, 2011.
The US economy continues to grow. While that statement is true, the rate of growth continues to slow, and we seem to be hitting an even slower patch. While the economy has been very dependant on manufacturing to drive this recovery, we are seeing some slowing in that segment. In previous recoveries, consumers would generally be returning to spending, and driving more of the recovery effort. However, with the economy slow to add jobs, consumers are still holding back.
This week is jam-packed with economic data for … (0 comments)

Do open houses really work? - 06/12/11 03:41 PM
It's a beautiful Sunday afternoon here in North Alabama.  I'm sure there are hundreds, if not thousands, of open houses going on across the country today.  Surely every real estate agent who has ever listed a home has conducted an open house before, right?
My question is to REALTORS® out there who conduct open houses, and the question is this:
"Do open houses really work to sell a home?"
I've asked different REALTORS® over and over again and have received mixed reviews.  As a mortgage lender I've been available at numerous open houses before to just to be there as a resource for potential buyers … (4 comments)

Arab Alabama Mortgage Rates as of 06-01-2011 - 06/01/11 11:04 AM
I hope you all are having a great day!
Here are today's mortgage interest rates for Arab, AL and the surrounding Marshall County area:
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Conventional 30 Year Fixed - 4.875% (5.164% APR)
Conventional 20 Year Fixed - 4.625% (5.016% APR)
Conventional 15 Year Fixed - 4.250% (4.738% APR)
FHA 30 Year Fixed - 4.750% (5.264% APR)
FHA 15 Year Fixed - 4.250% (5.013% APR)
VA Loan 30 Year Fixed - 4.75% (5.15% APR)
USDA Rural Development 100% Financing - 30 Year Fixed - 4.50% (5.28% APR)
AHFA Alabama Bond Monday - Step Up Loan - 4.75% (5.360% APR)
 
Rates … (0 comments)

Cullman Alabama Mortgage Rates as of 06-01-2011 - 06/01/11 11:00 AM
I hope you all are having a great day!  
Here are today's mortgage interest rates for Cullman, AL and the surrounding Cullman County area:
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Conventional 30 Year Fixed - 4.875%  (5.164% APR)
Conventional 20 Year Fixed - 4.625%  (5.016% APR)
Conventional 15 Year Fixed - 4.250%  (4.738% APR)
FHA 30 Year Fixed - 4.750%  (5.264% APR)
FHA 15 Year Fixed - 4.250%  (5.013% APR)
VA Loan 30 Year Fixed - 4.75%  (5.15% APR)
USDA Rural Development 100% Financing - 30 Year Fixed - 4.50%  (5.28% APR)
AHFA Alabama Bond Monday - Step Up Loan - 4.75%  (5.360% APR)
 
… (0 comments)

 
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Brandon Snider

Cullman, AL

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Consumer First Mortgage

Address: 1510 2nd Ave NW, Cullman, AL, 35055

Office Phone: (256) 586-5626

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