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URBAN REHABILITATION NOW BELOW 5% - 01/20/08 07:13 PM
Connecticut Housing Finance Authority (www.chfa.org) and McCue Mortgage Company offers a mortgage program called Urban Rehabilitation. The UR programs makes a grant of up to $20,000.00 for renovations/improvements to a one family home and up to $25,000.00 for 2-4 family homes.
I have written about this program in previous posts so I will not repeat all of the details in this post. What I do want to make everyone aware of is that the rate on this program for the purchase money is now down to 4.875% with 1.5 points. The 4.875% rate is the first mortgage rate. If the buyer of the … (1 comments)
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CHFA HELPS OUT VETERANS - PART TWO - 01/19/08 09:50 PM
In early December I wrote about changes to the CHFA (Connecticut Housing Finance Authority - www.chfa.org ) Military Homeownership Program. At that time, the CHFA rate was 5.875% with 1 point and the Military Program was offered at 5.75% with 1 point.
As of this past Thursday, CHFA lowered their rate to 5.125% with 1 point which means the Military Homeownership Program is now at 5% with 1 point. This .75 drop in rate brings the mortgage payment for a $200,000.00 loan from $1,167.50 down to $1,073.50 for principal and interest. Over 30 years this will save the veteran $33,840.00 assuming that the veteran … (2 comments)
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OFF AND RUNNING - 01/19/08 09:26 PM
So far so good.
According to the media the real estate world is in trouble. This may be so in some cases but not for the first time home buyers. From Wednesday January 2nd up to today, the phones are ringing at McCue Mortgage, potential clients are getting prequalified and pre-approved. Some people can't do anything right now but they are starting to work on clearing up credit issues. Other people are ready to go and have gone out in the marketplace and found the home of their dreams. Mortgage application appointments are being scheduled. There are a few refinance transactions but … (2 comments)
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OPEN HOUSE VISITS - 01/05/08 06:18 PM
Sunday is a popular day for Open Houses in southeastern Connecticut. I intend to visit 8 Open Houses in Norwich, Montville, Stonington and Niantic/East Lyme. Some are being hosted by experienced long time Realtors, others by newcomers. I hope to meet them all and leave my Open House flyers designed by Active Rainer George Souto. There is business out there and I intend to make sure that we at McCue Mortgage Company be in a position to help as many homebuyers as possible.
CHFA, VA, FHA and RURAL DEVELOPMENT are all available mortgage programs with low rates and low or no downpayment. This is … (5 comments)
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OFF TO A GOOD START - 01/05/08 02:18 PM
January 2008 seems to be off to a good start. Although we only worked W-TH-F, we had a large number of phone calls, e-mails and faxes come in to the office.
A number of new clients called inquiring about what needed to be done to start the home buying process. A number of pre-approved buyers or their Realtors called seeking out letters to go along with offers being made.
The best calls were from clients calling to set up appointments to complete their application paperwork.
Almost everyone is a first time home buyer. That appears to be where the market will be this year in southeastern … (4 comments)
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THE SKUNK SAGA - PART 4 - 01/05/08 02:06 PM
The third skunk was trapped this morning and has now joined the other two wherever they are now. I am not going to ask.
The pipes are no longer frozen, the building does not smell and the hole is filled in. Hopefully next week is back to writing mortgages and not fighting skunks.
This should be the last skunk post.
(Don't count on it.)
… (3 comments)
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THE SKUNK SAGA CONTINUES - PART 3 - 01/03/08 06:43 PM
It's not over yet.
The skunk trapper is coming back tomorrow to catch our latest skunk friend/enemy.
Meanwhile the area that he has dug out for himself is right next to the drain pipe and trap for the sewer drain pipe form our building. Guess what? When the temperature drops to 10 degrees in New London and the cold and wind get under the building, the trap sewer line trap freezes. This meant that when we flushed a toilet today, it backed up and came flooding down from upstairs to the first floor where our McCue Mortgage Company office is located.
We have the … (1 comments)
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2007 - A REAL STINKER (SKUNK - NOT MORTGAGES) (cont.) - 01/02/08 04:36 PM
Heeeeee's back.
If you read my previous post about the never ending battle with the skunks, here's my update.
I came into work this morning at McCue Mortgage Company and the entire building had the aroma of skunk in it.
Sure enough, I went outside to check on the concrete, wire and stake barrier and the skunk had dug down below the stakes and concrete and still got in. It looked like he had a back hoe doing the work.
I assume that he was so mad that once he got back in he sprayed the bottom building just to make sure that we knew he … (4 comments)
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