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mortgage: Details of HARP 2 Refinance program in WI and MN - 03/15/12 09:19 AM
HARP 2.0 refinance program details in MN and WI. Minneapolis, MN: The much anticipated new version of the HARP Refinance Program (HARP 2) is now in effect, making it one heck of a lot for home owner who have lost value in their homes to refinance their mortgage into today's low mortgage rates. The two biggest guideline changes to the HARP 2 program include the POSSIBILITY of unlimited Loan-to-Value and the POSSIBILITY to refinance even if you have Private Mortgage Insurance (PMI). This opens up financing opportunities for seriously upside home owners who have kept up with their current mortgage obligations. … (1 comments)
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mortgage: The Yourgage Mortgage - Pick your own amortization term - 03/07/12 05:39 AM
Who said you have to pick a standard mortgage loan term? Design your own mortgage loan. Pick any amortization term you want from 6 to 30 years. A big internet lender likes to call this "The YOURgage", and claims it is "only available from them!" They go as far as to make it sound like they "invented" it. Well, that is far from the truth. Actually, it is a little know option available from a large number of MN mortgage lenders, just like us.
Mostly used for refinancing, but it can also be used to purchase a home. Let's say you … (1 comments)
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mortgage: Down Payment Assistance Loans in MN - 01/24/12 08:56 AM
Homeownership Is Possible With Minnesota Housing Finance Agencies First Time Home Buyer Mortgage Programs Benefits of MHFA Mortgage Loans Below-market interest rates Interest-free loans to help for with down payment and closing costs (up to $8500) Minnesota Housing Mortgage Loan Program Eligibility To be eligible for a Minnesota Housing First-Time Homebuyer Loan, you must meet these requirements:
Be a first-time homebuyer (meaning you have not owned a home in the past three years). Have acceptable credit (640+ middle credit score) Meet the requirements for income limits (listed below) Have federal income tax return copies for the last 3 years. Have … (0 comments)
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mortgage: 2012 Mortgage Interest Rate Prediction - 01/07/12 10:04 AM
ST PAUL, MN: As the new year begins, there are no shortage of so called “experts” telling us what to expect for mortgage interest rates in 2012. Mortgage interest rates closed out 2011 at some of the the lowest rates of all time. Some expect those interest rate trends to continue through the first quarter and beyond. Others expect a rapid increase in mortgage rates.
Who’s right and who’s wrong? A quick look through the newspapers, websites and business television programs reveals “experts” with opposing, well-delivered views. It’s tough to know who to believe.
For example, here are some predictions for … (3 comments)
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mortgage: Adjustable Mortgages Hit New Low - 12/07/11 12:27 PM
Adjustable Mortgages Hit New Low
Historically in the United States, adjustable rate mortgages have always accounted for a small portion of overall mortgage loan choices. During the boom a few years ago, they jumped up dramatically, but still held just a small portion of the market.
Today, they hold an even smaller portion of the market share due to many factors, but most of them resulting from a misunderstanding, or lack of education on the borrowers part before taking one. For most people, they are considered too risky. Funny thing is, the rest of the world is just opposite. Almost everywhere … (1 comments)
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mortgage: What do you know about your Mortgage Loan Officer? - 11/24/11 08:51 AM
What do you know about your Mortgage Loan Officer?
All Mortgage Loan Officers are required to register with the Nationwide Mortgage Licensing System (NMLS) & Registry. The Registry assigns each Loan Officer a unique identifier number that stays with them throughout their career. Using this number you can review professional background information for a Loan Officer through the NMLS database prior to doing business with them.
The display of an NMLS number tends to lead most people to believe all Loan Officers are licensed. This is far from the true. Only about 20% of Loan Officers are actually licensed, the rest … (3 comments)
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mortgage: What are you actually buying, a condo or a town house? - 11/04/11 09:07 AM
What are you buying, a condo or a town house?
Looks like a townhome, acts like a townhome - but its a condo, and that makes a big difference in mortgage financing!
People, including many Real Estate Agents, mistakenly assume a property legally platted and developed as a condominium is a town house. In the mortgage financing industry, there is a difference in both interest rates, and the time and ability to get a loan for a condo versus a town house.
When you buy a home, there are two major aspects:
The lender "credit qualifies" the buyer The lender "qualifies" … (1 comments)
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mortgage: Mortgage Shopping? How to protecting yourself against predatory lenders and mortgage scams - 10/31/11 12:27 PM
Protecting yourself against predatory lenders, mortgage scams, and Loan officers screw-ups
Mortgage rates are amazing. That's great news for veteran loan hunters.
But for inexperienced shoppers who don't watch their backs, the mortgage business can still be a scary place to travel.
The internet especially has made it easier for sly lenders to mislead and take advantage of naïve consumers using any number of tricks, from quoting bogus rates over the telephone to slipping gratuitous costs into their loans. To avoid these problems -- as well as other trip-ups posed by the confusing mortgage process itself -- consumers have to brush … (1 comments)
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mortgage: Is this the end of the low interest rates and declining home values? - 06/29/11 10:35 AM
Is this the end of the low interest rates and declining home values?
St Paul, MN: If you've been holding out for lower interest rates, and home prices continuing to drop, you may be missing out. There are two major areas to understand.
Interest Rates: The markets eventually have to settle down and return to traditional economic realities. Worldwide investors, especially those in the US Market are starting to demand a greater rate or return, or why bother investing at all. What does this mean? Simple, the current 10-year bond has been trading below 3.00%. There is no money to be … (4 comments)
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mortgage: Rates are low. Should I be Refinancing? - 06/29/11 10:32 AM
Mortgage Interest Rates are hovering near historic lows. Should YOU refinance?
Minnesota and Wisconsin homeowners - The first rule is that there are no rules. You should refinance if it makes sense for you. Many people still think the "Rule Of Thumb" is that that if you could lower your interest rate by 2% or more then you should refinance; Depending on your situation, it may make sense for you to refinance even if you can lower your rate by only 1/2%.
It's time to seriously think about refinancing your current mortgage, especially if your interest rate is 1.0% or higher … (3 comments)
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mortgage: You Are Entitled To A Second Opinion, Even If You Have Already Been Pre-Approved For Your Mortgage! - 06/06/11 08:06 AM
You Are Entitled To A Second Opinion, Even If You Have Already Been Pre-Approved For Your Mortgage! Imagine you have just went to the Doctor in Minneapolis, or the Mayo Clinic in Rochester, MN and found out that you have to have surgery on your knee and the procedure will be pretty extensive! Most people just won't take the doctors word any more. They seek out another doctor for a second opinion.
That's the way it should be with your home loans and mortgage too! If you have already been pre-approved or pre-qualified for a mortgage on your next home, are … (0 comments)
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mortgage: The NEWEST new Good Faith Estimate design. What do you think? - 05/19/11 02:58 PM
On January 1, 2010, the government came out with a new Good Faith Estimate document for home buyers. The new document, supposedly designed to help consumers better shop for a mortgage, was and is a complete flop.
A year later, they are testing a new, new Good Faith Estimate from the new Consumer Financial Protection Bureau. You can give your input to the CFPB... Watch to learn how.
What do YOU think? Is this one a flop too? Post below!
-------------------------------------------------------------------- Get more Real Estate Agent News and Information from Joe Metzler, MLO
(C) 2011 - … (1 comments)
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mortgage: Wow your sellers with simple free internet marketing - 04/23/11 08:37 AM
WOW your sellers with simple free Internet Marketing.
As an Agent, you can sell homes. The #1 issue most Real Estate Agents face is finding the next client. So now you've gotten a listing, but are your clients saying WOW and referring your services to other potential clients? Its a tough market. You NEED to set yourself apart from other.
Today, it is simple to WOW a seller with free, or close to free internet marketing of their home.
Learn how with this short video from Joe Metzler of Mortgages Unlimited, St Paul, MN
More free marketing advice and … (4 comments)
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mortgage: Getting a mortgage loan? Beware of the credit bureau - 04/20/11 03:33 PM
Getting a mortgage loan? Beware of the credit bureau.
You've shopped a few lenders, gotten some quotes. You've narrowed your search, supplied a full application, and supporting documents. The lender has now pulled your credit report, and informed you everything looks great. You lock your interest rate, and move forward. Suddenly, you are overwhelmed with telephone calls and an overflowing mail box with offers from competing mortgage companies. What is going on? Sadly, there is a new and horrible marketing trend called "trigger lists". Because the lender pulled your credit (they had to), they triggered an unintended event. The credit bureaus … (1 comments)
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mortgage: MORTGAGES for the SELF-EMPLOYED and COMMISSIONED INCOME Homebuyer - 04/15/11 10:38 AM
MORTGAGES FOR THE SELF-EMPLOYED and COMMISSIONED INCOME Homebuyer
Self employed individuals often ask … “Why is it so difficult to qualify for mortgage financing?”
Minneapolis, MN: Self-employed borrowers, those who work on commission, or those who receive tipped income present one of the most challenging areas of mortgage underwriting. Qualifying self-employed people often requires significant extra time, energy, and patience. A fair and honest pre-qualification requires a special set of Loan Officer skills and expertise.
Long gone are the days when any Loan Officer could just give you a low doc, no doc, or stated income loan to a self-employed borrower … (1 comments)
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mortgage: Are you growing, or killing your Real Estate Business? - 04/07/11 09:30 PM
Real Estate Agents, Are you closing deals, making money, and growing your business, or are you killing your future business. Growing your business is easy if you know the secret, have the right attitude, and partner with the the right mortgage lend or Loan Officer.
Watch more Real Estate Agent News and Information from Joe Metzler, MLO
(C) 2011 - Joe Metzler - Mortgages Unlimited, St Paul, MN #274132. Re-blog but do not steal!
We lend in MN and WI ONLY. Searching rates on home loans, rates for refinancing your mortgage in MN or WI. We have some … (1 comments)
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mortgage: Top reasons to refinance your mortgage today - 03/10/11 02:10 PM
Joe and Eric Metzler talk about why you should refinance today.
Mortgage Interest Rates are set to go up soon for many reasons. Fannie Mae and Freddie Mac are both increasing the wholesale costs of mortgage loans, the economy may be improving, and home values may continue to fall slightly, all items that will effect your mortgage interest rates.
Searching rates on home loans, or rates for refinancing your mortgage in MN or WI? Watch the Video to learn why now is the time to refinance!
Visit Mortgages Unlimited at www.MortgagesUnlimited.biz
… (0 comments)
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mortgage: NAMB files 2nd lawsuit against Federal Reserve on LO Compensation - 03/09/11 07:52 PM
NAMB, the National Association of Mortgage Brokers today filed the second lawsuit this week against Federal Reserve Board over the new Lender Compensation rules set to begin April 1, 2011.
NAMB’s lawsuit seeks to obtain a temporary restraining order, and is using different arguments than the lawsuit filed by NAIHP on March 7th to stop the new mortgage lender rules.
The Federal Reserve Board has enacted rules which will severely limited consumer choice, increase closing costs, increase interest rates, destroy small lenders everywhere, bankrupt Loan Officers, all while increasing profits for banks.
NAMB Sues The FED on LO Comp
Watch the … (0 comments)
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mortgage: No Closing Cost Mortgage Refinance? BUYER BEWARE? - 07/27/10 06:37 PM
No Closing Cost Mortgage Refinance? BUYER BEWARE? Good or Bad Idea? YOU DECIDE after reading this...
St Paul, MN: Mortgage interest rates are currently at historic lows. Your mailbox and the airwaves have become full with mortgage companies competing for your business. Many of these advertisements are for "No Cost" or "No Lender Fee" loans.
Are No Cost Loans a Deal? For most people, usually not.
One of the most confusing areas for consumers in a mortgage loan transaction are closing costs. Here I'll explain the advantages and disadvantages of the highly advertised "no closing cost" or "low cost "loans.
First … (0 comments)
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Joseph Metzler MLO MMS NMLS # 274132
,
MN
More about me…
Mortgages Unlimited, Inc
Address: 33 Wentworth Ave E #290, Saint Paul, MN, 55118
Office Phone: (651) 552-3681
Email Me
Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use.
Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.
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