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best mortgage rates: Forbes Offers Encouragement in Housing Market - 04/07/10 10:58 AM
There's been some speculation that the FED exit of the Mortgage Backed Security Market will cause a spike in Interest Rates, and a downturn in the housing market... not so says Forbes Magazine.  According to article, the exit of the FED is not going to HELP the Housing Market... but they point to encouraging signs that should keep us from going into that dreaded second dip.
 
The FED is not likely to SELL all of those Mortgage Backed Securities anytime soon.  The sale will likely be the next thing that causes mortgage rates to SPIKE.  We've had a 1/4 to … (5 comments)

best mortgage rates: First Time Homebuyers - Don't Just Check On The Rate! - 09/14/09 04:30 PM

There are tons of first time homebuyers out there negotiating the best deal on their new home, and now it's time to get a mortgage.
Most of them only know how to ask one question:  What's the Rate?
We've been in the mortgage business for over 20 years - and the only thing most people know to ask is - "What's the Rate?" 
While that's a great question, it's kinda' like going into a shoe store and asking if they have any shoes in a size 9.  Just shopping the rate is not necessarily going to get you the best … (27 comments)

best mortgage rates: VA Guarantee Fees and Co-Signors - 06/17/08 01:51 PM

 
 
 
 
 
 
 
 
 
 
When you have a state that looks like this - you can be sure we see many Veterans purchasing homes!
The Veteran's Administration does not actually "make" mortgage loans - they guarantee those loans, similar to what FHA does.  They charge a Funding Fee which is generally considered a form of mortgage insurance, intended to reduce the overall cost of the program to taxpayers.  The funding fee fomula is currently 2.15% on no down payment loans for a first-time use.  The funding fee for second time users, seeking a 100% loan is … (2 comments)

 
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Steve Thorne NC Mortgage Experts

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