loan: Back from Vacation to Find LOW Mortgage Rates
- 08/27/10 07:22 AM
I'm back from a long vacation and catching up on what I missed. There's a lot to cover, so check back for more blog posts over the next few days, but I'll start today with the REALLY good news for home-buyers or homeowners looking to refinance: interest rates are at all time lows! I'm seeing 30 year fixed FHA loans quoted as low as 4.0% which means your monthly mortgage payment (principal and interest) for a $200,000 house would be only $921.41 with only $7,000 down! And that payment is locked in for 30 years! If you're currently renting and having … (4 comments)
loan: Mortgage Rates at Their Lowest Point of 2010, Great Time to Buy!
- 05/21/10 07:59 AM
According to this article mortgage rates are at their lowest point so far in 2010 with a national average rate of 4.84% for 30 year fixed loans and an amazing 4.24% average on 15 year loans. One local lender here in Philly is even offering 30 year fixed-rate FHA loans at 4.25% for buyers with qualifying income (under about $60,000 per year). With rates like these it's a great time to buy a house and lock in a low monthly payment for years to come. … (0 comments)
loan: Here We Go Again...Interest Only Coming Back
- 03/08/10 12:50 AM
I received some junk mail this weekend - big deal right? Well, one piece stood out as a potential sign of where the real estate market is headed - a mortgage refinance offer from Bank of America that included among it's options a mortgage with interest-only payments for the first ten years! I have noticed lenders coming back to the table with more and more aggressive loans over the past few months, but this is the first time I've seen a major national lender actively pushing interest-only residential loans in a while. Interest-only (aka IO, zero-amortization, or non-amortizing loans) were one … (6 comments)
loan: FHA Tightens Rules for Borrowers
- 01/20/10 11:45 AM
According to this article the Federal Housing Administration is tightening the requirements for borrowers of FHA guaranteed mortgages. The changes will especially impact borrowers with lower credit scores as the minimum down-payment for those with less than a 580 credit score rises from 3.5% to 10%. Even borrowers with good credit will be hit by the increase in the mortgage insurance premium charged by FHA. This increase will add to both upfront closing costs and monthly costs over the life of the loan. Even with these changes, intended to help the FHA avoid further financial distress, FHA loans are still a … (0 comments)
loan: Check out the Llenrock Blog
- 06/23/08 05:55 AM
Check out the new blog that I am contributing to at http://llenrock.blogspot.com. It covers all types of commercial real estate trends, news and issues and we're always open to receiving comments, feedback, and ideas for future posts. … (0 comments)
I'm back from a long vacation and catching up on what I missed. There's a lot to cover, so check back for more blog posts over the next few days, but I'll start today with the REALLY good news for home-buyers or homeowners looking to refinance: interest rates are at all time lows! I'm seeing 30 year fixed FHA loans quoted as low as 4.0% which means your monthly mortgage payment (principal and interest) for a $200,000 house would be only $921.41 with only $7,000 down! And that payment is locked in for 30 years!
;)
;)
