What do you mean I can't refinance? - 01/29/08 01:53 PM
Wow, look at these great mortgage rates! It is a great time to refinance! With this being the case, it brings up an un-settling fact for many people! Either it may not make sense to refinance or they simply can't!This all comes down to your homes value and what it will appraise for. Gone are the days of buying a home and the appreciation begins. If you just purchased your home at market value and did a 100% loan, refinancing won't be so easy. Your need to have 5% equity in your home to refinance and this equity is simply not … (2 comments)

The FED Acts Again! - 01/22/08 10:24 AM
The FED acted again this morning, slashing the Federal Funds rate by .75%! This is the largest cut since 1984! This comes during a time of great turmoil in our economy. It seems ironic that the mortgage industry is benefiting from a mess that they greatly contributed to! However, this is much needed. Rates have come out today and are 5.50% and ARMs are in the 4's! Keep in mind the Federal Funds rate is the interest rate at which private depository institutions (mostly banks) lend funds at the Federal Reserve to other depository institutions. This isn't a direct cut in … (0 comments)

Closing Costs - 01/11/08 03:37 PM
With the current mortgage rate drop, applications have really picked up. With this many refinance applications come numerous closing cost questions. This is the subject of today's post.A big misconception is that your lender is charging you all of these fees. This is not the case. All you need to do is look at your Good Faith Estimate and more importantly your HUD to see where these fees are going. Typical fees are as follows:AppraisalTitle Charges (Title insurance, closing fee, and misc charges)Recording Fees UW feesProcessing FeeCredit & CourierDaily Interest TaxesInsuranceEscrow Account Pre-paidsThe processing fee, credit, and courier are the only … (0 comments)

Interest Rates Fall! - 01/03/08 09:35 AM
That's right everybody, interest rates have dropped again! At the moment you could possibly qualify for 5.625-5.75% on a 30 year fixed. If you want a 15 yr. term, your rate could be even better! We haven't seen rates this low for quite some times and people are starting to take advantage. We took several refinance applications yesterday and expect more today. Just take a quick look at your current loan and see where you are at. If you think you can benefit from these great rates, just call. If you aren't sure and want a free evaluation, we can do … (0 comments)

 

Eric Hemmer

Columbia, MO

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Flat Branch Home Loans, Inc.

Address: 111 S Fifth St Ste 200, Columbia, MO, 65201

Office Phone: (573) 442-3850 x 209

Cell Phone: (573) 424-2169

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