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dc mortgage rate: Why the No Cost mortgage is a HIGHER cost mortgage - 04/29/09 03:15 PM
No closing cost mortgages have long been an attractive option for homeowners. When done correctly, they can indeed be a very good deal. I receive regular inquiries about these loans and my advice in this market is always the same: If you are planning on owning your property longer than 3 years, than it is probably MORE beneficial for you to obtain a mortgage with reasonable cost, than a mortgage with no closing cost. In all likely hood, it would probably be beneficial to pay points and get the LOWEST rate possible. The only time I recommend no cost refinances is for a … (2 comments)
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dc mortgage rate: Do I lock in my interest rate or Float? - 04/28/09 09:43 AM
This is the million dollar question right now. The number 1 reason that people who can refinance, are waiting is the expectation or even fear that rates will plummet and they will be stuck with a 4.875% rate. My opinion on this has changed recently. Back in the good 'ol days (2003-2006) I would always recommend locking. Rates were always in danger of shooting up and fast! In August of 2003 we were enjoying the lowest rates we had ever seen, I was offering 5% 30 yr fixed mortgages with NO POINTS and on some days with NO COST. Then one … (0 comments)
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dc mortgage rate: I pay my mortgage, what about me? - 03/18/09 09:55 AM
The most frequent question I hear is: "I actually pay my mortgage on time, what about me?" "What is the government doing to help me?". That is a great question. One positive conclusion I have come to is this: The bulk of Americans are doing everything they can to get by. They are working harder, cutting back and doing what needs to be done in these times. The worrisome question is: how long can this continue? There is only so much the average person can do. So, what about them?
The good news is, our elected officials are trying. The bad news is; … (3 comments)
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Choice Finance®
Rockville,
MD
More about me…
Choice Finance Corporation
Address: Rockville, MD
Office Phone: (301) 881-8900
Email Me
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