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interest rates: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - Part Four - 04/17/09 11:17 AM
During the last three weeks I’ve discussed how your property location, credit score, your specific loan scenario, timing, and games sales people play can significantly impact the rate you pay for your loan. If you’ve missed any of the last three parts you can view them at PART I, PART II, and PART III.
Games Sales People Play, is such a large topic itself, I had to break it up into two parts! The reason that it’s even possible to play games with you and your rate is because the mortgage lending process is complicated – plain and simple. In addition, … (3 comments)
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interest rates: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - Part Three - 04/09/09 10:40 AM
During the last two weeks I’ve discussed how your property location, credit score, your specific loan scenario, and timing can significantly impact the rate you pay for your loan. If you’ve missed either or both of the last two parts you can view them at PART I, and PART II.
Now we’ve arrived at the part I’m most passionate about - Games sales people play to bamboozle you. If you have read the previous sections you should honestly be saying to yourself – “hey, there is absolutely ZERO chance the mortgage guy I talked to on the telephone gave me a … (1 comments)
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interest rates: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - Part Two - 03/29/09 03:49 PM
“Mike, I keep hearing about low 4.5% rates, but every time I call a lender the rate they quote is higher! What’s up?” How Your Rate Is Determined, Part 2
Last week we discussed how your location and your credit score can impact the interest rate you pay. This week we look at two more factors, both of which can be even more critical that the first two.
Specific Loan Scenario – So, we’ve already adjusted your rate for where you live and what your credit score is. Now, let’s get into the more complex “hits” and “add ons” and look … (2 comments)
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interest rates: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - 03/26/09 01:24 AM
“Mike, I keep hearing about low 4.5% rates, but every time I call a lender the rate they quote is higher! What’s up?”
Do you want to know how lenders price your loan? Want to know about the little known details that might cost you thousands of dollars? Read on, and I'll explain...
The last couple of weeks we’ve been fielding tons of requests for rate quotes as homeowners shop around for the “best” rate to refinance their home loans. One particular caller spilled out his frustrations to me over the conflicting information he’s been getting as he calls one lender … (0 comments)
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interest rates: 4.5% 30 Year Fixed Rates Available in Spokane, Spokane Valley, South Hill, Mead, Nine Mile Falls, and Deer Park - 12/17/08 11:01 AM
Well, the Fed has finally done something that should make all homeowners and prospective homeowners happy...they lowered their target for the Federal funds rate to 0%-25% While that does not DIRECTLY impact mortgage interest rates (and it would take pages of economic and fiscal speak to explain why) yesterdays' move HAS had a positive impact. Two weeks ago I was able to offer clients rates in the mid 5% range. This morning I logged into my favorite wholesale lender to see 4.5% with NO ORIGINATION FEE!!!! That's unprecedented.
Who benefits:
Existing homeowners in Spokane, Spokane Valley, South Hill, Mead, Nine … (5 comments)
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interest rates: Spokane Home Buyers and Home Owners ~ Should You Lock or Float Your Home Loan? - 09/21/07 12:01 PM
After exactly ½ day on Tuesday, interest rates improved after the Fed cut their rates. It's been all downhill since then and mortgage interest rates for buyers and people refinancing have gone straight up.
How can mortgage rates go up when the Fed lowers their rate? Well the explanation for that takes more writing than you probably want to read on a blog post. For a white-paper on the subject send an email to mmullin@theloanconsultant.com and I'd be happy to send you one.
If you are currently in the process of buying a new home in the Spokane area (including Nine Mile Falls, … (3 comments)
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Michael Mullin MLO 11911 ~ Banker/Broker FHA, VA, USDA, Conventional Loans
Spokane,
WA
More about me…
First Priority Financial, helping home owners in WA and CA
Address: 5978 Hwy 291, Suite 3, Nine Mile Falls, WA, 99026
Office Phone: (509) 252-9151
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