Ar_home_b_search
 



refinance: What is The Blended Rate and Why is So Important - 03/25/08 08:05 AM
With Mortgage Rates relatively low and with the Federal Government lowering the Prime Rate many of my clients in Florida  are starting to consider refinancing their current Mortgage's.  However, before you rush off to your favorite Mortgage Broker I would recommend you find out what your Blended Rate is. (The True Cost of your Money)
Many of my clients have taken out over the years Home Equity Lines of Credit.(HELOC)  These type of loans are tied to the Prime rate. The rate as of today (3/25/2008) is 5.25% but in many cases if the clients credit was very strong many banks who issued these Credit Lines had … (12 comments)

refinance: I Just Want the Lowest Mortgage Payment....(Sound Familiar) Don't Forget Common Sense - 01/25/08 09:15 AM
As a Mortgage Broker in South Florida (Palm Beach Gardens) I can't tell you how many times I have heard these words from my clients. "Just give me the Lowest Payment on My Mortgage" This is why when when preparing a quote for my clients I always layout their financing options.  (As any true Mortgage Professional would)
Below is a typical loan scenario:
Loan Amount - $200,000
Fixed Payment for 5 Years               5 Year ARM                           30 Year Fix Rate                30 Year Fix Rate
    (Hybrid Option Arm)                    Interest Only                         10 Year Interest Only
2.35% (Payment Rate)                    5.875%                                 6.625%                                5.875%  
7.625% (True Interest)                                                                                                                             
$775 @ 2.35%                                $979                                    $1,104                             $1,183
$1,270 I/O @ 7.6%
Now … (10 comments)

refinance: Pre-Pay Penalty..Pay it Now? It Might be Worth it - 11/23/07 09:02 AM
 Pre-Pay Penalty..Pay it Now? It Might be Worth it
As a Mortgage Broker in Palm Beach Gardens, (Northern Palm Beach County) Florida part of my job is to order appraisals for my clients who wish to refinance their property.  With the amount of Short Sales and Foreclosures that are in the area many of my clients believe it really does not effect them unless they have plans on selling their home.  Think Again!
Roughly eight months ago one of my clients came to me to refinance out of their current mortgage and into a lower rate. At the time they still had a … (33 comments)

 

Matthew J Blum - (retired from the business)

Palm Beach Gardens, FL

More about me…

Address: Palm Beach Gardens, FL, 33410

Email Me

<!-- Start of StatCounter Code -->
free hit counter javascript
<!-- End of StatCounter Code -->


Links

Archives

RSS 2.0 Feed for this blog