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mortgage: Dysfunctional Congress leads to even Lower Interest Rates - 08/03/11 10:02 PM
Current low mortgage rates have fallen again as the U.S. continues to shows signs of a sluggish economy with a drop in consumer spending.
Dropping by .125%, today’s 30 year fixed mortgage interest rates are at 4.125%. 15 year fixed mortgage interest rates are at 3.500% and 5/1 ARM loan rates are at 2.750%, both remaining the same. Conforming 30 year fixed mortgage loans are the most desired long term mortgage product amongst borrowers because they offer the security of a monthly mortgage payment that remains the same for the entire length of the loan. With 0.7 to 1% origination fee, these … (2 comments)
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mortgage: FHA may be Your Best Choice - 07/04/11 11:10 PM
The demise of subprime, no-documentation and no-down-payment loans is more than three years in our rear view windows. Many folks with credit challenges and little cash have turned to Federal Housing Administration (FHA) and Veterans Affairs (VA) loans for their home financing needs.\
While the FHA has recently tightened itsstandards, it’s one of the only options for a low down payment. Consider the following:
FHA loans require just a 3.50 percent down payment in most areas. Maximum allowable loan amounts vary from $271,050 to $793,750, depending upon the area. Interest rates are competitive. Today’s 30-year fixed rates are as low as … (3 comments)
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mortgage: What type of Mortgage is Best? - 05/24/11 02:01 AM
A mortgage is a loan where the house and land are used as collateral for the loan. If the borrower fails to make his payments, the bank forecloses on that property. In the case of foreclosure, the bank may sell the house to clear the mortgage debt.
Here are some types of mortgages can help first-time home buyers understand the fundamentals:
Conventional Mortgage – this is a mortgage loan wherein the underlying terms and conditions meet the guidelines of Fannie Mae and Freddie Mac. Depending on market conditions and consumer trends, about 35-50 % of mortgages are conventional mortgage.
FHA Mortgage … (1 comments)
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mortgage: How Much Mortgage Can I Get? - 04/26/11 08:04 PM
The difference between the cost of the house and the amount of cash you have to put down is filled by one or more mortgage loans. A mortgage loan differs from other types of loans in that the loan is secured by the property you are buying. In other words, the lender does not have to depend on your word to assure that the loan will be repaid. If for some reason you cannot or are unwilling to make your payments on time, there is a legal procedure called “Foreclosure” through which the lender takes over the property or will have … (0 comments)
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mortgage: Renters Have Much to achieve by Pursuing House Ownership - 03/02/11 09:01 AM
Buying a house vs. renting is really a big decision that takes careful consideration, as most home loan consultants will agree. But the benefits of home ownership are great. For several years, purchasing real estate may be considered an very profitable investment. It’s an achievement that provides a sense associated with pride, financial balance and potential taxes advantages. Yes, there are specific responsibilities associated with running a home. Landlords will often argue the advantages of renting, and with regard to obvious reason. If you’re renting, you’re assisting them make their own mortgage payment. The numbers tend to be staggering if you … (0 comments)
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mortgage: From Own to Rent - Its now the right time - 02/08/11 09:04 PM
If you remember how the hierarchy of a homeowner goes, you might remember this sequence, First you live with your parents, then you rent a place once you get your first job, and eventually, you get your first home. But with the recent situation in the economy, the reverse seems to be happening. People who once owned homes are now finding themselves either back living with their parents or back to renting; of these two, renting has become more prevalent. And because of this situation, I am seeing a growing group of people becoming interested in investing in properties again, if … (0 comments)
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mortgage: Is Divorce Bad for Real Estate Deals - 01/25/11 07:31 PM
If you are a real estate agent, you might have experienced several bumps when comes to selling a house. There are those houses whose designs are so quirky that it is almost impossible for ordinary buyers to like it, there are the houses with history that would make the skin of most potential buyers shiver and now, houses being sold by a divorcing couple.
Although Divorce is a big factor on houses being sold thru shortsale, it is a different matter if the house is being sold in a conventional sense when there are two duelling owners in the middle.
Although … (2 comments)
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mortgage: FHA "Green Program" - 11/29/10 08:05 AM
FHA recently announced the introduction of their new "Green Program" better known as the Power saving loan. But how does this exactly work.
Well it works like this - FHA will secure your loan with a promise from the customer that they will choose or build a home that is primarily energy efficient, is using less water and probably less produced waste in a given year. This means that the homeowner must install energy efficient lighting all over the property or purchase anything that could actually produce energy( solar panels, windmills or the like), Use water efficient appliances or fixtures for … (1 comments)
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mortgage: The New Breed - How to sell to the New , Younger , Homebuyers - 11/15/10 02:27 AM
If you have been noticing the real estate blogs and other websites regarding real estate, you might have noticed the influx of young people wanting to buy their own homes and be independent from renting and more embarrasingly, living with their parents. Now you might think this is a good sign that the market is finding a new demographic of customers, however, this age group is not without its challenges.
When I meant that these customers are young, I do mean young, as in 21 years old and up. When we look back at our 21st year, we can still oftentimes … (0 comments)
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mortgage: THE AMERICAN DREAM : Dealing with Foreign Nationals trying to get a loan - 09/17/10 01:32 AM
As I had been looking at websites dedicated to providing advice to people about their properties and loans, I had noticed a trend that is starting to become more common. There had been a couple of inquiries as to how someone who is not a natural born American citizen can acquire a loan in order to buy a house.
For a broker who is desperate for a sale, the immigrant customer is the ultimate catch, they are often much better employed than the native citizens and are sometimes more industrious when it comes to paying the loan, but with more and … (0 comments)
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mortgage: THE H.R. 600: Finally a law that makes sense - 08/26/10 07:12 AM
And this has now been proven to be a complete failure. Once the government steps in to bail out the loans, they are spending money that is expected to be repaid immediately as it is government money. The result of this is the higher taxes that customers will have to pay every time they have a transaction to buy a house. It also does not help that the government made mandates that actually made getting a loan to buy a home more complicated and difficult.
If you have been reading my blogs lately, you have been reading all the complaints about … (0 comments)
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mortgage: TIGHTENING THE GRIP ON MORTGAGE BROKERS - 08/10/10 10:30 PM
Waking up this morning, I decided to catch up with the guys at TBWS daily to keep up to date with what's new in the financial world. As usual, the boys brought the latest news from the industry, the latest on marketing trends, the best ideas for people in the real estate and mortgage industry, and the news that always gets my attention, the BAD NEWS.
Folks, the Fed, under the Secure and Fair Enforcement for Mortgage Licensing Act or S.A.F.E act is requiring all mortgage brokers to be fingerprinted and to register with the Nationwide Mortgage Licensing System and Registry, … (2 comments)
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mortgage: HOW TO TURN THE LEMON THAT IS THE REAL ESTATE INDUSTRY INTO LEMONADE (a PEP talk to the real estate people) - 07/19/10 07:01 AM
With the way that the real estate business is going right now it is no surprise that a lot of people - the brokers, the agents, appraisers and every one else that makes their business out of selling homes and property are losing their appetite for the profession and are considering packing their bags and moving to a new profession
But what many of them don't know is that the key to surviving the market nowadays is creativity and readiness. Gone are the days that showing the property alone would catch the attention of the buyer, these days it is about … (34 comments)
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mortgage: HUD to end Homelessness in the U.S.: Are they for Real? - 07/04/10 08:55 AM
With an estimate of 700,000 to 2 million homeless citizens in the United States, the lack of housing for the marginalized is one of the most pressing issues in the country, and every administration from the inception of our country has tried to end this problem with one social reform after the other. For this administration, the plan was to finally build houses that would provide housing for the homeless all across the country - an initiative developed and to be funded by HUD.
Now, i don't want to be sounding like the heartless jerk here, but doesn't anybody here think … (1 comments)
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mortgage: THE HVCC : The Thorn in our midst - 06/07/10 09:07 AM
Whenever a member of the real estate community ever hears the term HVCC, every mortgage broker, agent, appraiser and lending firm can't help but feel a shudder as a sense of dread somehow grips them. The HVCC, which ironically stands for Home Valuation Code of Conduct, was meant to help the mortgage industry survive the real estate crisis and clean up how it does and conducts business. Instead, as we later found out, this initiative bound the mortgage industry by one hand, ruining businesses for small lending firms, probably sent people out of their jobs and worse, made life a whole … (2 comments)
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mortgage: Does Fannie Mae and Freddie Mac deserve more credit from Uncle Sam - 05/16/10 11:00 AM
When we woke up to the news that Fannie Mae and Freddie Mac, the two largest government sponsored mortgage institutions still need more government bail out despite the fact that they already received 145 billion dollars last year, more than any other institution in the country, the debate began on whether these two headache inducing firms should get more money or should just be turned over to the private sector.
Here are certain facts that would make either two options a really difficult one to consider.
For the past 80 years, both Fannie Mae and Freddie Mac held a veritible monopoly … (1 comments)
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mortgage: Real Estate Brokers Old versus New - 05/12/10 04:55 AM
The United States, perhaps of all countries in the World, is the one that had the most vibrant Real Estate market. Unlike those of Europe or Asia, the freedom to own unlimited acres of land, have your own say at how your house is designed and what color you might chose it to be and with the most liberal of government registration policies made a lot of people in this line of work very rich and very famous (ever heard of Donald Trump?).
Then came the bust of 2007. People who had always thought that their dream homes and even their … (0 comments)
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mortgage: So now we are at 4.500%, Where are the buyers? - 12/11/08 09:37 PM
Hey I was told 4.50% was going to stimulate the RE market. Now we are offering 4.500%, I'm slammed with Refinances but no purchases? What's gives?
Stephen Katz
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mortgage: Now Available: 100% Financing For Primary Residential Purchases - 11/26/08 12:46 AM
Now Available: 100% Financing For Primary Residential Purchases
FOR IMMEDIATE RELEASE:ATLANTA, GA (PRWEB) November 20, 2008 - Katz Mortgage Team, www.KatzMortgageTeam.com, backed by Fairway Independent Mortgage Corporation, has announced they have teamed up with Fannie Mae to offer 100% financing on primary residence mortgages, filling a void created by the current lack of 100% mortgages available to residential borrowers.
Stephen Katz, of Katz Mortgage Team states, "In these tough economic times, particularly in the real estate market, many would-be home buyers assume that 100% mortgages are a thing of the past, and are reluctant to make a home purchase - whether … (0 comments)
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mortgage: Rates are Getting Crazy!! - 01/16/08 01:52 AM
Everytime the Stock market gets hit, Mortgage Rates go down. For the first time in 2.5 years we are able to break through the 5% barrier. I have been up until 2:30 am locking in loans!! These 7/1 ARMs at 4.875% are a big seller!!
WE CURRENTLY LEND IN GA, FL, AL, TN & VA.
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Stephen Katz
Atlanta,
GA
More about me…
Katz Mortgage Team, a branch of VanDyk Mortgage Corporation
Address: 800 Johnson Ferry Road, Atlanta, GA, 30342
Office Phone: (866) 742-8400
Cell Phone: (770) 552-1000
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