Ramsey's Blog

A New Banc to Call Home

Ramsey Yount (Signature Lending Group, Inc) — Fri, 17 Aug 2007 10:40:23 -0500

REALTORS!!!

In these changing times in the mortgage industry, I wanted to let you know that Signature Lending Group’s business continues to grow. I believe we have been successful due to two reasons. First, we communicate better than anyone. Second, people like you continue to put their trust in us.

In light of the recent developments with HomeBanc, I WANT TO HELP! If you have ANY customers that were affected by this announcement, please give me a call as soon as possible in order to get their loan back in process. We are living in a volatile market, and I will strive my best to match the same loan that your client had with HomeBanc or even better, give them a better deal!

The bottom line is that I want to help. If that means closing a loan that no longer can be closed or earning your business on future loans. I want to help!

Please call me or email me if you have any questions, comments or concerns. I look forward to speaking with you soon.

Ramsey Yount

Senior Mortgage Consultant

Signature Lending Group

1000 Hurricane Shoals Road, Suite C-330

Lawrenceville, GA 30043

Tel. 678-387-5580

Fax. 678-387-5592

Cell. 404-514-4944

Rate Lock Duration

Ramsey Yount (Signature Lending Group, Inc) — Thu, 28 Jun 2007 12:53:03 -0500

Rate Lock Duration

Lock durations can vary for mortgage financing, but most lenders lock in the interest rate for 60 days from the date the loan application is submitted. As long as the loan is closed within that lock-in period, the lender honors the agreed upon interest rate.

Some consumers are misled by advertising that quotes unrealistically low rates based on 15- or 30-day lock durations. This is called 'short-pricing.' The lender basically knows the borrower doesn't have time to meet their conditions and have all the necessary paperwork in order within that brief time period. As a result, the lender is not obligated to honor the low rate that was listed in their advertising.

For simple refinance transactions, a 45-day lock-in period is more realistic. For purchase transactions, which are typically much more complex, you're much safer going with a 60-day lock, even though the interest rate might be a little higher than the rate you see quoted on billboards and the Internet.

Borrowers should make sure they have a written rate lock agreement, and allow themselves a reasonable amount of time to close their loan. I prefer to lock in all my clients as soon as their application is filed, rather than gamble with predicting short-term interest rate movement. My team and I focus more on assisting clients with long-term goals and management of their mortgage debt to secure a strong financial future.

Mortgage Interest Rates*

Rates as of 06/25/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.5%	6.621%	$6.32	6.625%	6.812%	$6.40
15 Year Fixed	6.25%	6.359%	$6.16	6.25%	6.459%	$6.16
5 Year ARM	6.375%	6.568%	$6.24	6.5%	6.713%	$6.32
5 Year Interest Only ARM	6.375%	6.568%	$6.24	6.5%	6.713%	$6.32
30 Year Interest Only	6.75%	6.903%	$6.49	6.875%	7.001%	$6.57

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- Interest Rates Change Daily

Ramsey Yount (Signature Lending Group, Inc) — Mon, 18 Jun 2007 15:50:00 -0500

Interest Rates Change Daily

Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgage interest rates. But the key factor to watch is the relationship between stocks and bonds.

When the economy is slow and the stock market is "bearish," many investors move money out of stocks and into bonds and mortgage-backed securities. This causes mortgage interest rates to go down. When the economy is doing well, the stock market rallies and is considered "bullish." Investors then have a tendency to move their money out of that safe haven of bonds and mortgage-backed securities and back into stocks. As a result, mortgage interest rates go up.

My team and I keep a close eye on mortgage interest rates at all times in an effort to alert our clientele of opportunities to obtain lower financing. Call us for a free evaluation of your current loan program.

Mortgage Interest Rates*

Rates as of 06/18/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.5%	6.621%	$6.32	6.75%	6.894%	$6.49
15 Year Fixed	6.25%	6.359%	$6.16	6.5%	6.670%	$6.32
5 Year ARM	6.375%	6.568%	$6.24	6.5%	6.713%	$6.32
5 Year Interest Only ARM	6.375%	6.568%	$6.24	6.5%	6.713%	$6.32
30 Year Interest Only	6.75%	6.903%	$6.49	6.875%	7.001%	$6.57

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

This is not spam! So, whoever flagged my last weeks blog as spam. Please don't!!! Post a comment if you have a problem with my posts!

Mortgage Rate Update --- Dealing with Debt After Retirement

Ramsey Yount (Signature Lending Group, Inc) — Mon, 11 Jun 2007 11:13:21 -0500

Dealing with Debt After Retirement

Reverse mortgages designed to help "house rich, cash poor" seniors meet their day-to-day expenses have gained popularity. Equity is taken out of the home, so debt increases and equity diminishes over time, (unless the property value increases and offsets this use of equity).

Many lenders offer reverse mortgages, and most are set up so that there is no monthly payment as long as the owner or co-owner(s) reside in the home. There are no minimum income requirements, and most plans allow the owner to retain title to the property until they have lived in a different permanent residence for at least 12 full months, sell the property, die, or the end of the loan term is reached.

The Home Equity Conversion Mortgage (HECM) is the only type of reverse mortgage insured by the Federal Housing Administration (FHA). Even if the original loan on the home was not an FHA loan, the reverse mortgage can be.

Seniors should first consider all their options and take a realistic look at monthly expenses. The AARP warns not to take too big of a chunk out of home equity, as this may affect the ability to collect Social Security Income (SSI). As an alternative, the retired home owner can consider downsizing to a smaller dwelling, or relocating to a less expensive neighborhood. Visit http://www.aarp.org for more information.

Mortgage Interest Rates*

Rates as of 06/11/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.5%	6.621%	$6.32	6.75%	6.894%	$6.49
15 Year Fixed	6.25%	6.359%	$6.16	6.5%	6.670%	$6.32
5 Year ARM	6.375%	6.568%	$6.24	6.375%	6.576%	$6.24
5 Year Interest Only ARM	6.375%	6.568%	$6.24	6.375%	6.576%	$6.24
30 Year Interest Only	6.75%	6.903%	$6.49	6.875%	7.001%	$6.57

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- Preparing Your House for the Market

Ramsey Yount (Signature Lending Group, Inc) — Mon, 04 Jun 2007 14:47:22 -0500

Preparing Your House for the Market

If you're selling your home, make sure your home has "curb appeal." Remember, you can't change a first impression. If your home looks like a diamond in the rough, think about putting a small investment into cleaning up the outward appearance.

Imagine that you are seeing the property as a potential buyer. You'll want to do a little yard work - clear away dead shrubbery, and trim your trees and lawn. Weed the flower beds or plant some flowers that will bloom in season. Make sure the driveway is not stained, and if you can't afford to paint the home entirely, at least make sure the front door and immediate entryway is immaculate.

Fresh and clean are still the keywords to making a good first impression once the potential buyer walks through the door. Unless a particular window is facing an eyesore or a neighboring building, open the drapes and let the sun shine in! Put your dog in the back yard or garage so he's not jumping on the new people who just walked in.... they might have allergies! There is much you can do to improve the look of your home, without investing a great deal of money.

Call me to get a copy of my pamphlet, "33 Ways to Sell Your Home Fast." I'd be happy to share more tips with you and assist you in obtaining financing for your next home as well.

Mortgage Interest Rates*

Rates as of 06/04/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.25%	6.346%	$6.16	6.5%	6.602%	$6.32
15 Year Fixed	6.125%	6.208%	$6.08	6.25%	6.313%	$6.16
5 Year ARM	6.25%	6.359%	$6.16	6.25%	6.301%	$6.16
5 Year Interest Only ARM	6.25%	6.359%	$6.16	6.25%	6.301%	$6.16
30 Year Interest Only	6.5%	6.541%	$6.32	6.5%	6.616%	$6.32

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- The Home Equity Line of Credit

Ramsey Yount (Signature Lending Group, Inc) — Thu, 31 May 2007 10:03:06 -0500

The Home Equity Line of Credit

Home equity lines of credit have become increasingly popular, and there are many types of loan programs available in this genre. This type of credit line is not meant for day-to-day expenses as a credit card would be, however, many consumers use their home as collateral to obtain an equity line of credit to pay for higher ticket items such as educational expenses or home improvements.

Borrowers may want to compare the advantages of a traditional second mortgage over an equity line of credit. But they should not compare these programs based on the Annual Percentage Rate (APR) alone. The APR in an equity line of credit is based only on the periodic interest rate, and does not include other charges such as points, maintenance fees or transaction fees. Conversely, a second Trust Deed takes all points, fees, and other charges into account when calculating the APR.

If someone you know is interested in an equity line of credit or a traditional second loan on their mortgage, I can provide them with a spreadsheet to compare available loan programs to review with their financial advisor.

Mortgage Interest Rates*

Rates as of 05/29/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.25%	6.346%	$6.16	6.375%	6.470%	$6.24
15 Year Fixed	6%	6.198%	$6.00	6.125%	6.219%	$6.08
5 Year ARM	6.125%	6.272%	$6.08	6.125%	6.301%	$6.08
5 Year Interest Only ARM	6.125%	6.272%	$6.08	6.125%	6.301%	$6.08
30 Year Interest Only	6.5%	6.541%	$6.32	6.5%	6.616%	$6.32

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- Intermediate Fixed Rate Loans

Ramsey Yount (Signature Lending Group, Inc) — Tue, 22 May 2007 10:14:14 -0500

Intermediate Fixed Rate Loans

Intermediate Fixed Rate mortgages (sometimes referred to as Short-Term Fixed Rate mortgages, or Hybrids) come in numerous varieties; the 3, 5, 7 and 10-Year Fixed. These are all 30-year loans that carry a fixed rate for a set number of years, and then roll over to an Adjustable Rate Mortgage.

For example, in a 7-Year Fixed Rate scenario, the rate would be fixed the first seven years, and the loan becomes an Adjustable for the remaining 23 years. The main advantage of these hybrid programs over a traditional 30-Year Fixed loan is typically a slightly lower interest rate.

These types of loans often work well for people who do not plan on being in their home for an extended period of time, such as first time home buyers. The most important question to ask when going into an Intermediate Fixed Mortgage is how long will the borrower need the money?

If the borrower intends to sell the home in four to five years, then a 5-Year Fixed loan offers stability and a lower interest rate for the time that money is needed. However, in this example it would not be wise to pay points up front to obtain a lower interest rate, because the likelihood of recuperating the cost of those points would be diminished with the short tenure in the loan.

The borrower's financial planner and mortgage consultant should work hand-in-hand to provide guidance to the borrower in these matters.

Mortgage Interest Rates*

Rates as of 05/22/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.125%	6.289%	$6.08	6.375%	6.470%	$6.24
15 Year Fixed	5.875%	6.036%	$5.92	6.125%	6.219%	$6.08
5 Year ARM	6%	6.163%	$6.00	6%	6.093%	$6.00
5 Year Interest Only ARM	6%	6.163%	$6.00	6%	6.093%	$6.00
30 Year Interest Only	6.375%	6.541%	$6.24	6.5%	6.596%	$6.32

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- 15-Year Fixed Rate Loans

Ramsey Yount (Signature Lending Group, Inc) — Mon, 14 May 2007 10:01:41 -0500

15-Year Fixed Rate Loans

A 15-Year Fixed Rate loan works well for borrowers who are nearing retirement and want to be debt-free when they get there. Because payments in a 15-year scenario are amortized over half the length of a 30-Year Fixed Rate loan, the monthly payments will be significantly higher in comparison. This is an important factor to consider before committing to a 15-year loan. However, the interest rate on a 15-Year Fixed Rate loan will be lower for the same reason - financing for 15 years costs much less than financing for 30 years.

If a borrower is 50 years old and would like to be debt-free when retiring at age 65, then a 15-Year Fixed Rate loan will allow the borrower to meet that goal as far as their mortgage is concerned. However, if there is any question as to whether the borrower will be able to commit to the higher monthly payment, the alternative is to take a 30-Year Fixed Rate mortgage and make pre-payments with some consistency. If the borrower has the discipline to make those extra payments whenever possible, he or she can still attempt to meet the same goal.

I prefer to educate my borrowers so they can compare the benefits of each program and have the opportunity to review loan options with their financial advisors.

Mortgage Interest Rates*

Rates as of 05/14/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.267%	$6.00	6.25%	6.453%	$6.16
15 Year Fixed	5.75%	6.001%	$5.84	6%	6.190%	$6.00
5 Year ARM	5.875%	6.082%	$5.92	5.875%	6.093%	$5.92
5 Year Interest Only ARM	5.875%	6.082%	$5.92	6%	6.191%	$6.00
30 Year Interest Only	6.25%	6.496%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- Choosing a Fixed Rate Loan

Ramsey Yount (Signature Lending Group, Inc) — Wed, 09 May 2007 09:55:35 -0500

Choosing a Fixed Rate Loan

Fixed rate loans generally come with one of two options; the 30-Year Fixed and the 15-Year Fixed. If a borrower is planning on being in the same home for a long period of time, a 30-Year Fixed may be more attractive because it offers stability. The monthly payment will remain consistent over the life of the loan. If interest rates are at historic lows at the time the borrower is seeking to obtain financing, this is a good program to consider.

A 15-Year Fixed loan program offers the same stability, but the accelerated amortization schedule makes the monthly payment substantially higher. While the interest rate may be lower on this type of loan, the borrower must be willing to commit to a higher monthly payment. If the borrower wishes to retire in 15 years and be debt-free at that time, this loan program may be more suitable to the borrower's long-term needs.

It is also possible to make pre-payments on a 30-Year loan and reduce the life of the loan, as well as the overall interest payment, without committing to the higher monthly payment of a 15-Year program. As long as there is no pre-payment penalty associated with the 30-Year mortgage, pre-payment offers the borrower the latitude to make additional payments when it is affordable. If cash flow becomes difficult, this arrangement will not put the borrower in a compromising position.

Mortgage Interest Rates*

Rates as of 05/08/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.267%	$6.00	6.25%	6.453%	$6.16
15 Year Fixed	5.75%	6.001%	$5.84	6%	6.190%	$6.00
5 Year ARM	5.875%	6.082%	$5.92	5.875%	6.093%	$5.92
5 Year Interest Only ARM	5.875%	6.082%	$5.92	6%	6.191%	$6.00
30 Year Interest Only	6.25%	6.496%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

We are No Longer Number One...and That is a Good Thing!!!

Ramsey Yount (Signature Lending Group, Inc) — Tue, 01 May 2007 14:29:11 -0500

According to the Atlanta Business Chronicle, Georgia is no longer the number one state of mortgage fraud. This has been a dirty crown that we have worn off and on(mainly on) since 2002. We have recently dropped from number one to number eight!

Here is the top ten list:

1) Utah
2) Florida
3) California
4) New York
5) Idaho
6) Michigan
7) Arizona
8) Georgia
9) Minnesota
10) Illinois

Mortgage Rate Update --- Google Local Helps New Homeowners Find Their Way!

Ramsey Yount (Signature Lending Group, Inc) — Mon, 30 Apr 2007 10:43:44 -0500

Google Local Helps New Homeowners Find Their Way!

Google™ released a new localized service in March of 2004. Many relocated homeowners have used this search feature to get to know their new neighborhood.

Simply visit www.local.google.com and enter the type of service or business you are looking for, followed by the city or zip code you are targeting. Google's robust search engine will provide a list of results within seconds. The results will include local information about neighborhood business listings, maps, directions and useful web pages derived from a variety of sources. This makes getting to know a new neighborhood fast and easy.

Example searches: Italian restaurants, coffee shops, movie theaters, pet groomers, libraries, video rentals, grocery stores, etc.

If you are looking for a mortgage professional that is committed to providing exceptional service, look no further! My team and I continually monitor rates for our clients and always work toward our clients’ long-term goals. Give us a call if you would like to discuss loan options with a trusted advisor.

*Google is a trademark of Google Inc. All other company and product names may be trademarks of the respective companies with which they are associated.

Mortgage Interest Rates*

Rates as of 04/30/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.267%	$6.00	6.25%	6.453%	$6.16
15 Year Fixed	5.75%	6.001%	$5.84	6%	6.190%	$6.00
5 Year ARM	5.875%	6.082%	$5.92	5.875%	6.093%	$5.92
5 Year Interest Only ARM	5.875%	6.082%	$5.92	6%	6.191%	$6.00
30 Year Interest Only	6.25%	6.496%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- Various Ways to Hold Title to Real Property

Ramsey Yount (Signature Lending Group, Inc) — Thu, 26 Apr 2007 14:10:47 -0500

Various Ways to Hold Title to Real Property

Title is the legal documentation that bestows ownership of real property. This is to be indicated in Part II of the 1003 Uniform Residential Loan Application as "manner in which title will be held."

The decision of how the title will be held should not be put off until the last minute since it has a great impact on future tax planning, the financial future of the borrower(s) and their respective heirs, and the choice of the lender.

It is most important for the mortgage consultant to work hand-in-hand with the borrower's financial planner or tax consultant to assist their mutual client in order to make decisions that work best for their particular scenario.

For example, most married couples would consider holding title with Joint Tenancy. But if one spouse has a good credit history while the other has damaged credit that may prevent funding of the loan, it would be advantageous to place title in the name of the spouse with the good credit rating.

Common ways to hold title are broken down into options that fall under the categories of sole ownership or co-ownership. Many states permit the holding of title in a living trust, but some lenders do not accept those terms. There are ways around this, but this is where the financial planner and the mortgage planner can make a tremendous difference by working together.

Mortgage Interest Rates*

Rates as of 04/24/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.125%	6.342%	$6.08	6.375%	6.533%	$6.24
15 Year Fixed	5.875%	6.098%	$5.92	6.125%	6.340%	$6.08
5 Year ARM	5.875%	6.082%	$5.92	5.875%	6.093%	$5.92
5 Year Interest Only ARM	6%	6.197%	$6.00	6%	6.191%	$6.00
30 Year Interest Only	6.25%	6.496%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- What are points and when should you pay them?

Ramsey Yount (Signature Lending Group, Inc) — Mon, 16 Apr 2007 12:06:25 -0500

What Are Points and When Should You Pay Them?

Points are up-front fees paid to obtain a better interest rate on a loan. One point equals one percent of the loan amount. A lower interest rate may result in a lower monthly payment, but it is important to consider how long you intend to be in the loan, and to compare current rates to historical market trends.

If you take out a $300,000 mortgage and decide to pay one point, this translates into an up-front closing cost of $3,000. Paying a point up front saves $100 a month but it will take 30 months to recuperate the cost of that point. If you decide to refinance or sell the home before the 30-month mark, your money is lost. In this case, you would benefit financially by remaining in the home longer than the 30 months.

Rates run in cycles. When rates are at historical lows, it is sensible to pay points if you plan to live in the home for an extended period of time. It is unlikely that rates will go down; hence, there will be no need to refinance.

When rates are up, there is a strong likelihood that they will come down. This is no time to pay points. The chances of refinancing in the future are extremely high, and you will likely not be in the loan long enough to recuperate the cost of the points.

Mortgage Interest Rates*

Rates as of 04/16/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6.125%	6.342%	$6.08	6.375%	6.533%	$6.24
15 Year Fixed	5.875%	6.098%	$5.92	6.125%	6.340%	$6.08
5 Year ARM	5.875%	6.082%	$5.92	5.875%	6.093%	$5.92
5 Year Interest Only ARM	6%	6.197%	$6.00	6%	6.191%	$6.00
30 Year Interest Only	6.25%	6.496%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update --- What is Negative Amortization?

Ramsey Yount (Signature Lending Group, Inc) — Mon, 09 Apr 2007 12:09:54 -0500

What is Negative Amortization?

A negative amortization loan is an adjustable rate mortgage that allows the consumer to tap into home “equity” by offering several monthly payment options. Up to an additional 25% of the original loan amount is available to the borrower.

This flexibility works well for consumers who have seasonal income or want more control over their cash flow. However, the borrower must have some degree of financial discipline. Each month, the borrower will choose to make a fully amortized payment, an interest-only payment, or a low introductory rate payment.

A fully amortized payment is larger, and includes payment toward principal + interest. The interest-only payment is lower, but no part of that mortgage payment goes toward the principal. The borrower is simply keeping their head above water.

The third option is where negative amortization comes into play. If the consumer chooses to make the low introductory rate payment, the interest is not sufficiently covered for that month. The balance of interest owed is then tacked back on to the principal, thus increasing the mortgage debt.

Smart consumers can use these payment options to their advantage, but should have a full understanding of how adjustable loans work. They should also know that once the maximum loan amount has been reached, the lender will immediately increase the payment amount to the fully amortized rate.

Mortgage Interest Rates*

Rates as of 04/09/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.236%	$6.00	6.25%	6.412%	$6.16
15 Year Fixed	5.75%	5.881%	$5.84	6%	6.290%	$6.00
5 Year ARM	5.875%	6.082%	$5.92	5.875%	6.093%	$5.92
5 Year Interest Only ARM	6%	6.197%	$6.00	6%	6.191%	$6.00
30 Year Interest Only	6.25%	6.497%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

10 Steps to Buying Your Home

Ramsey Yount (Signature Lending Group, Inc) — Thu, 05 Apr 2007 13:24:01 -0500

STEP 1 - DEFINE NEEDS FOR YOUR NEW HOME

Congratulations on your decision to purchase a new home! Your first step toward buying your new home will be to analyze your needs. Your real estate agent can help you determine exactly what you want your new home to look like and how it should function for you and your family.

First, write down why you are looking for a new home. For example, are you currently renting and would like to begin building equity? Maybe you recently married and have outgrown your current residence. Or, maybe you received promotion that requires you to move to a new city. These factors will all have a bearing on how you approach your home search.

Second, establish a time frame for buying your home. Depending on your reasons for wanting a new property and the current state of the market in the area you are looking to buy, you should be able to come up with a rough guideline.

Finally, you probably have a mental picture of what your dream house looks like. Turn these ideas into two lists: one should describe your dream home and the other should list features that are absolute must haves. In a perfect world, your new home would fulfill both lists 100 percent, but it is more likely the two lists will turn into a list of priorities, as you get clearer about what you want and what is available.

STEP 2 - PRE-APPROVAL VS. PRE-QUALIFICATION

Now that you know what you want in a home, you need to find out what you can afford. There are two ways to go about this: prequalification or pre-approval for a loan. Either way, you can contact your agent about choosing a mortgage company. Prequalification is the simpler of the two processes. It can even be done online or over the phone. When you contact a mortgage company, they will ask you for some basic information about your finances ? how much money you earn, your debt load, etc. They will take this information and give you a rough estimate of how much of a loan you might qualify for.

Pre-approval is more a more in-depth process. The lender will perform an extensive check of your finances including your credit rating, whether or not you're a first-time buyer, what your debt load is, how much money you have to put as a down payment, etc. This figure will be a much more reliable estimate of what you can afford.

In most markets, pre-approved buyers are preferred over those that are merely pre-qualified. Being pre-approved lets the seller know you have gone through an extensive financial background check and there should be no unexpected obstacles to you buying their home.

STEP 3 - NEIGHBORHOOD INFORMATION

Now that you have your list of needs and wants and know how much you can afford to spend, it's time to look at some houses, right?! Well, don't forget, people don't just buy a house; they buy the neighborhood the house is in. Think about that...if you found the perfect house but it was in a neighborhood that was not to your liking, would you make an offer on it?

You will need to make another list for the type of area you want to invest in. Consider things like drive time to work and major destinations, amenities such as swimming pools, tennis courts, parking, etc., area schools and the demographics of the surrounding area.

STEP 4 - HOME SEARCH

At this point you will have a good idea of what you can afford and the type of area you will want to invest in. Taking that information into consideration, you are ready to embark on your home search. If you don't know much about the city to which you are moving, you will want to start by finding areas that meet your criteria and then narrowing your search to particular properties in those areas.

There are a few ways to go about this. Possibly the most efficient way to find homes is to allow your real estate agent to keep you up-to-date on available properties that meet your criteria, and then allow your agent to screen them for you. When your agent presents you with a home that interests you, he or she can arrange for you to tour it at your convenience.

You can find available homes by reading local real estate publications, contacting local Neighborhood Associations, visiting the local Chamber of Commerce, looking on the Internet, or driving through neighborhoods that meet your needs. Driving around a particular area looking for a home that is for sale is good because you can actually see the house, but it can be very time consuming and very "hit or miss."

STEP 5 - MAKE AN OFFER

Now that you've found your dream home, it's time to make an offer. Your real estate agent will help you determine the offer price by reviewing recent sales of homes that are similar in size, quality, and conveniences and amenities. Your real estate agent will advise you on how to create an offer that will have the best chance of being accepted.

After consultation with you, your agent will create a written contract with your offer that meets all the local and national legal requirements. This document details what needs to be done by both parties to execute the transaction. It should protect the interests of both parties and will ensure your financial position as the buyer.

STEP 6 - NEGOTIATING TO BUY

Once your offer is made you may need to negotiate with the seller to reach an agreement. Keep in mind almost everything is negotiable when you are buying a house. This can give you a great deal of leverage in the buying process, that is, if you have adequate information and you use it in an appropriate manner.

Some things you may negotiate:
* Price
* Financing
* Closing costs
* Repairs
* Appliances and fixtures
* Landscaping
* Painting
* Occupancy time frame

Counter offers happen frequently. Remain in close contact with your real estate agent so you can quickly review any changes from the seller. Remember...bargaining is not a winner-take-all deal. It is a business process that involves compromise and mutual respect.

STEP 7 - SERVICE PROVIDER COORDINATION

After your offer is accepted, your agent will help you coordinate the activities of service providers and serve as your advocate when working with them. Your agent will make sure these vendors have access to the property to perform their procedures and will oversee the execution of those procedures on your behalf.

One service you may need is a home examination. An inspection of the property, the foundation, and the surrounding environmental may be needed to make sure the property meets the standards set forth in your written agreement. If there are issues or inconsistencies brought to light during this time, it may delay or even nullify the contract.

Insurance is another item that will need to be taken care of. Experts recommend you obtain title insurance equal to the full replacement value of the home. This kind of insurance is purchased at closing and protects the buyers in the unlikely event that the title to the property becomes invalid. Homeowners insurance protects against theft, fire and liabilities. It often includes things such as bicycles, furniture and jewelry. Flood insurance is generally only necessary for flood-prone areas. The federal government issues this kind of insurance.

In addition to aforementioned types of insurance, you may want additional assurance for your new home. Home warranties are one way to protect yourself after you buy. Warranties for new homes protect against plumbing, wiring and structural defects. Existing home warranties cover things like major appliances and structural problems.

Having these procedures done in a timely and professional manner is a must. Investigate each service provider to make sure they are reputable and have a clean operational history. Your agent's experience in this area will be invaluable.

STEP 8 - BEFORE YOU CLOSE

As the closing date (otherwise known as settlement or escrow) draws near you will need to be in contact with the escrow company or closing attorney and your lender to make sure all necessary documents are being prepared and will be delivered to the correct location on the appropriate date. Find out what form of payment you will need to bring to the closing for any unpaid fees. Make sure that your payment is made out to the appropriate party.

These days, buyers and sellers don't even have to be in the same room to close a deal. Thanks to computer automation, signed paperwork can be delivered overnight to both parties.

STEP 9 - CLOSING ON A HOME

Closing is where ownership of the home is legally transferred from the seller to the buyer. It is a formal meeting that most parties involved in the process will attend. Closing procedures are usually held at the title company's or lawyer's office. Your closing officer coordinates the document signing and the collection and disbursement of funds.

In order for the closing to go smoothly, each party involved should bring the necessary documentation and be prepared to pay any related fees (closing costs). There may be more than one form of acceptable payment for your closing costs so ask the closing officer which form of payment will be required and to whom it should be paid.

Sellers sometimes pay for a portion or all of the closing costs, depending on local market conditions, terms of the purchase contract, and the seller's cash and timing considerations. Any such concessions should be acknowledged in writing. Most lenders will allow a credit from the seller to the buyer for the non-recurring closing costs. However, they usually won't allow a credit that reduces the amount of the buyer's down payment or any of the buyer's recurring costs, such as expenses for fire insurance premiums, private mortgage insurance (PMI) or property taxes.

STEP 10 - POST-CLOSING

Congratulations on the purchase of your new home!

Now that you have taken ownership of it you will need to have your electricity, cable and phone set up. Also be aware of typical homeowner expenses such as Neighborhood Association fees, landscaping costs, and annual taxes and budget for them accordingly.

Why you buy!

Ramsey Yount (Signature Lending Group, Inc) — Tue, 03 Apr 2007 08:51:03 -0500

This came from one of my account executives. He brings up some great points!

Uncovering your own secret of selling: Why you buy!

Think about your most recent purchases.

They hold the secrets to increasing your sales.

Last week, during a seminar, I was in a stream of consciousness talking about buying motives and why people buy. As usual, I was focused on the customer side—the probable purchaser side—the buyer side of the equation. Then out of the blue I said, “Think of something you just purchased. Why did you buy it?”

All of a sudden, a one-million-watt lightbulb went off inside my head—one of those instantaneous “AHA messages.” I discovered an answer, and it’s an answer that everyone can understand.

If you list the last ten things you purchased, you will discover the motives behind your own buying decisions, and at the same time, you will discover the formula for why others buy. Those “others” are your prospects, your potential customers—you know, the ones you are erroneously trying to “sell.”

When you list the ten items, do it on a spreadsheet. In the second column, put down whether you “needed” or “wanted” what you bought. In the third column, put down whether you could afford it or went over budget and had to charge it. In the fourth column, put down how you purchased. Did you seek them out, did they come to you, or did you buy online? If you bought online, you might want to enter what time of day you made your purchase. It’s interesting to note that a high percentage of online sales are made after 8 p.m.

In the fifth column, assuming a salesperson helped you, put down whether or not you liked the salesperson. In the sixth column, with one indicating the lowest and 100 indicating the highest, put down the percentage of influence the salesperson had in completing the sale.

In the seventh column, using percentage again (one as the lowest, 100 as the highest), what was the risk factor in making the purchase? In other words, how much did you fear the purchase? How much did you fear you were making the right purchase before you bought? Usually, the bigger the purchase (home, car), the more people hesitate.

In the eighth column, put down the word “price” or “value.” If you went for price only, put price. If you went for value (the best), then put value. There’s a caution here: use the word price if you went for the lowest price in the category, not the lowest price for the item. In other words, if you bought a BMW you didn’t buy price, you bought value, regardless of where you bought it.

In the ninth column, using percentage again (one the lowest, 100 the highest), rate the experience. One percent means: “I’ll never come back.” One hundred percent means: “I’ll be back, buy again, and tell my friends.”

Then in the final column, include a sentence or two about how the purchase happened. The story. (If it takes three sentences, include three.) But write enough so you understand why you purchased the item, and what caused you to make the purchase from that specific company for that specific product or service.

Now you have enough criteria to identify your own motives. Once you read the spreadsheet, you may find that you want to modify a few of your answers to get closer to your own reality.

Pretty simple so far, huh? Let’s take it a little deeper.

When you finished buying, were you happy? Did you find yourself saying it was OK, but? It’s important that you note the buts. The buts are the obstacles to your sales. Did you learn lessons each time you bought, especially about what you wouldn’t do again? Those are the obstacles to your sales. And, when making your purchase, did you ever select one vendor over another? Note those reasons, because they will reveal the obstacles to your sales.

Now let’s go all the way to the bottom of the ocean. Compare the way you buy to the way you sell. How harmonious are they? How compatible are they? Are you throwing up the same barriers as the people you bought from? Are you missing the same nuances in your selling process that caused you to buy?

And now it’s time for the ultimate question: Would you buy from yourself? Unfortunately, the ultimate answer is “probably not.” The reason? You haven’t modified your selling process to harmonize with the way people buy.

But—there is a hidden treasure. Whenever you go down to the bottom of the ocean, the object is to find the hidden treasure. The hidden treasure will be revealed when you read (or re-read) Acres of Diamonds by Russell H. Conwell. All the sales answers you need are buried in your own backyard.

You already possess the treasure. You just haven’t used it yet.

Mortgage Rate Update --- How Adjustable Rate Mortgages Work

Ramsey Yount (Signature Lending Group, Inc) — Mon, 02 Apr 2007 12:05:04 -0500

How Adjustable Rate Mortgages Work

During the last decade, Adjustable Rate Mortgages (ARMs) have increased in popularity among consumers. These days, few homeowners (especially first-time buyers) remain in their homes for more than seven years. In this case, it often makes sense to get an adjustable rate mortgage with a lower rate, especially one with a 5-year or 7-year fixed portion, since they won't have the loan long enough to be concerned about rate fluctuation.

Adjustable Rate Mortgages have three main features: Margin, Index, and Caps. The Margin is the fixed portion of the adjustable rate. It remains the same for the duration of the loan. The Index is the variable portion. This is what makes an ARM adjustable. Margin + Index = Interest Rate.

It's important to understand that there are many different indices: The 11th District Cost of Funds (COFI), the Monthly Treasury Average (MTA), The One Year Treasury Bill, the Six Month Libor, etc. Each index has its own strengths and weaknesses; some are slow moving, others are more aggressive.

The third and final component of Adjustable Rate Mortgages is Caps. Caps limit how much the rate can fluctuate over time. Annual Caps limit changes to the annual rate, whereas Life Caps provide a worst case scenario over the life of the loan.

Mortgage Interest Rates*

Rates as of 04/02/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.236%	$6.00	6.25%	6.412%	$6.16
15 Year Fixed	5.75%	5.881%	$5.84	6%	6.290%	$6.00
5 Year ARM	5.75%	5.927%	$5.84	5.75%	6.002%	$5.84
5 Year Interest Only ARM	5.875%	6.149%	$5.92	5.875%	6.098%	$5.92
30 Year Interest Only	6.25%	6.497%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Joint Marketing For this Spring!!!

Ramsey Yount (Signature Lending Group, Inc) — Wed, 28 Mar 2007 14:44:06 -0500

Save on Marketing Costs when You use Signature Lending Group! Start a New Business Partnership in the Georgia Area! We have Experience in Different Marketing Campaigns through out the Atlanta Area!

Together We can Both be Successful!!!

Ramsey Yount
Senior Mortgage Consultant
Signature Lending Group, Inc
Phone: (678)387-5580
Fax: (678)387-5592
ryount@SignatureLendingGroup.net
www.SignatureLendingGroup.net

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update

Ramsey Yount (Signature Lending Group, Inc) — Tue, 27 Mar 2007 10:09:57 -0500

Trigger Leads: Don't Be Exploited by the Credit Bureaus

Certain mortgage companies will pay top dollar to know exactly who is in the market for new financing. What's more, the major credit agencies not only allow files to be flagged whenever someone applies for a home loan, they actually sell this private information as leads to the highest bidders!

For a price tag of $25 to $100, names, addresses, phone numbers, mortgage histories, and even FICO score ranges are sold by the credit bureaus to mortgage companies, which then blindly solicit business.

Unfortunately, no legislation exists to prevent credit companies from profiting from this practice. As trigger leads, consumers are simply at the mercy of any number of solicitations designed specifically to discredit the mortgage professionals they've come to know and trust.

Remember, a limited number of sources exist for lenders to obtain mortgage money, and it's unlikely that a borrower will find an unbelievably low rate without an unbelievably high cost. That's why, prior to applying for any loan program, consumers should visit www.optoutprescreen.com to opt-out of credit bureau solicitations and avoid the problem altogether.

As consumers embark on what could be the largest financial transaction of their lives, it's important to work with a mortgage professional who clearly explains all available options and provides comprehensive solutions.

Mortgage Interest Rates*

Rates as of 03/27/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.236%	$6.00	6.25%	6.412%	$6.16
15 Year Fixed	5.75%	5.881%	$5.84	6%	6.290%	$6.00
5 Year ARM	5.75%	5.927%	$5.84	5.75%	6.002%	$5.84
5 Year Interest Only ARM	5.875%	6.149%	$5.92	5.875%	6.098%	$5.92
30 Year Interest Only	6.25%	6.497%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update

Ramsey Yount (Signature Lending Group, Inc) — Mon, 19 Mar 2007 11:47:48 -0500

Homeowner's Insurance: Put the Right Policy In Place

In order to obtain a home loan, a borrower is usually required to have a homeowner's insurance policy in place. Experts agree that the most important question homeowners should ask when shopping for a plan is the A.M. Best rating of each company. New companies pop up all the time, and homeowners need to be informed about what a company can offer in terms of protection against potential risk.

Consumers should also become familiar with the liability portion of their policy. ACV (Actual Cash Value) policies pay claims based upon the depreciated value of the item or items lost. However, replacement cost policies will pay the full cost required to actually replace the items.

To ensure that the right amount of insurance is purchased, homeowners should obtain an appraisal every five years or so. If additions are made or remodeling takes place, homeowners will need to revisit and possibly upgrade their plan as well.

Experts say there are several important mistakes homeowners should be especially careful to avoid. The first is being dishonest on an application. This is absolute grounds to reject any claim. Secondly, if the property contains a detached structure - such as a guest house, a barn, a workshop, or a garage - be sure to include each one on the insurance policy. Finally, do not over-insure. Homeowners can save a little money by insuring only those items and structures that need to be replaced.

Mortgage Interest Rates*

Rates as of 03/19/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.236%	$6.00	6.25%	6.412%	$6.16
15 Year Fixed	5.75%	5.881%	$5.84	6%	6.290%	$6.00
5 Year ARM	5.75%	5.927%	$5.84	5.75%	6.002%	$5.84
5 Year Interest Only ARM	5.875%	6.149%	$5.92	5.875%	6.098%	$5.92
30 Year Interest Only	6.25%	6.497%	$6.16	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update

Ramsey Yount (Signature Lending Group, Inc) — Mon, 12 Mar 2007 14:20:48 -0500

Shopping for a Mortgage

In theory, finding the right mortgage should be a fairly simple process. After all, there are literally hundreds of options to choose from, including Fixed Rate, Adjustable Rate, Hybrids, and Interest Only loans, to name just a few. Mortgages are available with interest rates ranging from an introductory rate of 1.00% to well over 10.00%. Borrowers can even finance up to 100% of their home's value and, in some cases, their closing costs as well.

In reality, however, this vast selection of mortgage products has made choosing the right one a challenging endeavor, to say the least. Without sound advice from an experienced mortgage professional, consumers are at the mercy of a complex financial decision that could impact their lives for years to come. At a minimum, home buyers should consider the following questions before putting any mortgage into place:

How long do you anticipate living in your new home?
Do you foresee any changes over the next few years, such as expanding your family or having children go off to college?
Do you anticipate any adjustments in income due to promotions, relocations, retirement, inheritance, or pensions?
Are you expecting a change with regard to your investments?
When it comes to investment strategies, are you conservative, aggressive, or somewhere in between?

As a mortgage professional, it's my job to match clients with the mortgage product that best serves their changing goals and needs. I take pride in helping each and every client succeed.

Mortgage Interest Rates*

Rates as of 03/12/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	5.875%	6.126%	$5.92	6.25%	6.336%	$6.16
15 Year Fixed	5.625%	5.823%	$5.76	5.875%	6.213%	$5.92
5 Year ARM	5.75%	5.927%	$5.84	5.75%	6.002%	$5.84
5 Year Interest Only ARM	5.875%	6.149%	$5.92	5.875%	6.098%	$5.92
30 Year Interest Only	6.125%	6.340%	$6.08	6.375%	6.534%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update

Ramsey Yount (Signature Lending Group, Inc) — Mon, 05 Mar 2007 19:45:03 -0600

Strategic Equity Management

There are several reasons why purchasing a home is preferable to renting one. Rent payments go directly into the pocket of a landlord, while mortgage payments result in the accumulation of equity and the eventual ownership of the property. The tax advantages of home ownership are also significant since mortgage interest is tax deductible.

Ironically, these two benefits do not always work well together! Financial planning expert and best-selling author, Douglas Andrew, has revealed some surprising misconceptions as well as some innovative strategies in his book, Missed Fortune 101*. Andrew explains that most homeowners believe that paying down their mortgages quickly and increasing their equity is the best investment they can make. However, doing so results in a decrease in the tax benefits available since the loan is paid off sooner, causing the interest deductions to disappear.

As an alternative, Andrew suggests that homeowners obtain a fixed-rate, long-term mortgage. Rather than putting down a large down payment or paying extra principal, he recommends placing these funds in a carefully chosen investment vehicle that will earn a higher rate of return. By using the tax benefits of the interest deductions and the compounding of interest on the investment account, homeowners have the potential to earn a higher rate of return. In addition, should an emergency need for cash arise, the investment account will be much more liquid than the equity of the home.

* Missed Fortune 101 is available in local bookstores and through Amazon.com.

Mortgage Interest Rates*

Rates as of 01/22/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.231%	$6.00	6.25%	6.352%	$6.16
15 Year Fixed	5.75%	5.968%	$5.84	6%	6.173%	$6.00
5 Year ARM	5.875%	6.092%	$5.92	6%	6.184%	$6.00
5 Year Interest Only ARM	6%	6.137%	$5.00	6.125%	6.239%	$5.10
30 Year Interest Only	6.25%	6.346%	$5.21	6.25%	6.391%	$5.21

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update

Ramsey Yount (Signature Lending Group, Inc) — Mon, 05 Mar 2007 14:05:14 -0600

Predicting the Future of Real Estate

Demographics serve as a useful and reliable research tool for many fields and industries, including marketing, entertainment, and even politics. David Lereah, the Chief Economist for the National Association of REALTORS® (NAR), says demographics can also reveal a lot about different real estate markets. In fact, David believes that demographics can help predict future activity in certain real estate markets, including, in some cases, home value and appreciation. The following are some examples of key demographic indicators.

"Baby Boomers" – The largest generation to date, members of this demographic have now reached their peak earning years. In areas with a greater number of Baby Boomers, expect significant purchases of larger primary residences. In addition, Baby Boomers are likely to buy investment properties and vacation homes, leading to a substantial increase in property values for certain regions of the country.

Children of "Baby Boomers" – Born after 1980, this is the second largest generation to date. This age group has entered the workforce and is becoming established. In areas with large numbers of this demographic, look for sales of starter homes and condos to rise.

Immigrants – Different areas experience large influxes of immigrants at different times. It typically takes a full generation, however, for this demographic to begin buying homes and having an impact on local real estate markets.

Retirees – With advances in medicine and technology, we are living longer than ever before. In areas with large numbers of this demographic, or areas where retirees tend to move, expect inventories to drop and prices to rise.

Mortgage Interest Rates*

Rates as of 03/05/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	5.875%	6.126%	$5.92	6.125%	6.289%	$6.08
15 Year Fixed	5.625%	5.823%	$5.76	6%	6.158%	$6.00
5 Year ARM	5.5%	5.893%	$5.68	5.625%	5.891%	$5.76
5 Year Interest Only ARM	5.625%	6.024%	$5.76	5.75%	5.976%	$5.84
30 Year Interest Only	6.25%	6.430%	$6.16	6.375%	6.623%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update

Ramsey Yount (Signature Lending Group, Inc) — Mon, 26 Feb 2007 12:40:53 -0600

Protecting Credit During Divorce

Chances are you know someone who is facing the challenges of divorce. Going through this process can be emotionally and financially difficult. Failing to address important credit issues, however, will only make things worse. Remember, a divorce decree does not absolve credit contracts or relieve responsibility for any and all debt incurred during the marriage. The following is a proactive plan to maintain healthy credit both during and after a divorce.

Know Your Credit – Obtain copies of credit reports from all three bureaus right away (Experian®, Equifax, and TransUnion®).

Organize The Facts – Make a list of ALL open accounts and create a spreadsheet with creditors' contact info, account number, type of account, balance, monthly payment, and the name of the vested spouse.

Take Action – Sell or refinance secured credit assets (e.g. car, house, etc.) if possible, ensuring that loans are either paid in full or that only the vested spouse's name remains attached to the account. Immediately close any unsecured accounts (e.g. credit cards, etc.) with no balance. For those accounts with a balance, have them frozen to ensure no future charges can be made.

A Few More Tips – Only a creditor can change the terms of a credit contract. A judge may order one spouse to pay off a joint account, but both parties are still responsible in the eyes of the creditor if the debt is unpaid. If possible, pay off these accounts quickly to help maintain good credit. However, if one party is ordered to pay off the debt of an open joint account, that party should be sure that the title reflects this change to avoid paying for something he or she no longer owns.

Mortgage Interest Rates*

Rates as of 02/26/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	6%	6.276%	$6.00	6.25%	6.398%	$6.16
15 Year Fixed	5.625%	5.823%	$5.76	6%	6.158%	$6.00
5 Year ARM	5.75%	6.007%	$5.84	5.875%	6.097%	$5.92
5 Year Interest Only ARM	5.875%	6.182%	$5.92	5.875%	6.097%	$5.92
30 Year Interest Only	6.25%	6.430%	$6.16	6.375%	6.623%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471

Mortgage Rate Update

Ramsey Yount (Signature Lending Group, Inc) — Wed, 21 Feb 2007 10:34:14 -0600

Will VantageScore Bring Consistency?

VantageScoreSM Solutions, LLC, is a joint venture between the three powerhouse credit scoring bureaus, Experian®, Equifax, and TransUnion®. Launched in March 2006, VantageScore has two very ambitious goals: 1) to reduce credit score inconsistencies across the three companies, and 2) to help consumers better assess and interpret their credit scores. In the past, credit scores could vary significantly across these three companies, creating inconsistencies that made it difficult for lenders to interpret and for consumers to understand.

To accomplish these goals, VantageScore offers credit-score calculation based on a standardized algorithm used by all three parent companies. With this uniform system in place to calculate credit scores, variation across the three companies is now limited to any discrepancies in the specific credit information collected by each company. VantageScore also offers an overall credit score and grade based on the level of predictive credit risk calculated by their standard model. Utilizing the familiar A through F grading scale used by educational institutions, VantageScore helps consumers understand the significance of their overall number score by attaching a letter grade.

It's unknown if VantageScore will be a success or what affect it will have on the current Fair Isaac Corporation (FICO) system. FICO, however, is presently pursuing legal action against VantageScore Solutions, citing anti-trust and unfair competition violations.

Mortgage Interest Rates*

Rates as of 02/20/2007:

	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
30 Year Fixed	5.875%	6.182%	$5.92	6.125%	6.294%	$6.08
15 Year Fixed	5.625%	5.823%	$5.76	6%	6.158%	$6.00
5 Year ARM	5.75%	6.007%	$5.84	5.875%	6.097%	$5.92
5 Year Interest Only ARM	5.875%	6.182%	$5.92	5.875%	6.097%	$5.92
30 Year Interest Only	6.25%	6.430%	$6.16	6.375%	6.623%	$6.24

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Georgia Residential Mortgage Licensee #21471