conventional loans: What my mortgage broker can do even in this very different market - 07/08/08 10:44 PM
Here is an email that my mortgage person, Craig Nesbitt said in an email to someone in my office--
"As we discussed on the phone over the weekend I wanted to send you a brief synopsis of some of the loan scenarios that we can do. I have greatly enjoyed working … (1 comments)
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conventional loans: Conventional loan basics when purchasing or refinancing - 06/28/08 01:00 PM
Okay, this may be a very DRY blog, but it contains basic conventional loan guidelines that can be useful when starting to look at this loan option for a purchase or refinance.
Conventional:
Maximum Loan Amount: 417K
Credit score minimum: 620
Credit score minimum to get best rates: 680
Maximum Loan to value on … (1 comments)
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conventional loans: Be Aware! - 06/25/08 04:22 PM
Buyers should be aware when they look for a home, what type of financing for which they qualify. This will help them determine the type of home they should be looking for as well. Foreclosures typically are either cash or conventional loans, which usually require a significant downpayment. At times, the buyer is … (0 comments)
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conventional loans: An Open Letter to the consumer : Focus on payment and not rate!!!! - 06/20/08 08:31 AM
Dear Mr & Mrs Borrower,
"What kind of payment do you want and or feel comfortable with?"
This is a question that I always ask right in the beginning. But in many cases, what I get from the consumer when asking this question is, "what is my interest … (13 comments)
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conventional loans: Mortgage PRO Week in Review -- 05/19/08 through 05/25/08 -- Memorial Day Style - 05/26/08 10:32 PM
I am not sure what it's like in your part of the country, but what a gorgeous day. And especially
for Memorial Day. Thanking all the men and woman that served our country and for those men and women who are currently serving our country.
Also, for those of … (16 comments)
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conventional loans: Are 'interest only' loans just like renting??? - 05/25/08 01:57 AM
Renting your home with an interest only loan. Doesn't sound as enticing, does it. Are 'interest only' loans just like renting your apartment?
An interest only loan is a type of mortgage program that allows your to pay a lower mortgage payment to where the interest is paid up front … (59 comments)
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conventional loans: The Myths behind ZERO point mortgages instead of paying points upfront…… - 05/22/08 01:10 AM
Mortgages and points, sounds like evil words, right?. It could save you thousands.
I have been doing this for almost 16 years now. When I first got into this industry, I heard client's lawyers and accountants tell their clients not to do mortgages with points associated to them. Or it … (25 comments)
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conventional loans: Good Faith Estimates - FHA loans or Conventional loans - Why is it so difficult??? - 05/14/08 10:16 PM
Earth shatering news here..... when you are shopping for a mortgage, may it be a FHA loan, a conventional loan, or a VA loan... please ask for a good faith estimate. Not every loan officer will volunteer one to you.
I can't tell you how many consumers that I have … (18 comments)
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conventional loans: FHA Loans or Conventional Loans — APR vs Mortgage Rate — Knowing the differences…. - 05/13/08 10:15 PM
Shop mortgage rates… Shop APR (Annual Percentage Rate)….. Shop mortgage fees….. So which is it? Shopping for a mortgage can be very confusing to say the least. I hear so many called experts tell the average consumer to shop APR. This is not the wisest of decisions and can be argued by … (10 comments)
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conventional loans: Latest Interest Cut By The Feds - 05/02/08 04:15 PM
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conventional loans: 720 is the new 620 - 04/14/08 03:21 PM
Have you been sitting on the fence on whether to buy a house? Well, it is time to decide. The sub-prime mess spilled over to the prime market and now you need a credit score of 720 to get a par quote.
It is now going to make a lot more … (3 comments)
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conventional loans: Looking Out for the Homeowner - 04/09/08 08:28 AM
While the rest of the country may be waiting for the Federal government to figure out a solution to the housing/foreclosure crisis, the great state of Illinois is, once again, ahead of the pack!
"There have been far too many foreclosures in Illinois," State Treasurer Alexi Giannoulias has said. Foreclosure filings in … (1 comments)
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conventional loans: Mortgages In Minnesota Are Subject to LLPA-Loan Level Price Adjustments - 03/30/08 03:21 PM
Venture Development-Minnesota Mortgage Broker-Edina Minnesota-Twin Cities MN
LLPA is the acronym for Loan Level Price Adjustments. Fannie Mae, Freddie Mac and now FHA are applying various standards to the loan programs. In a nutshell, underwriting of all mortgage loan products has become tougher. In an effort to price loans more accurately based … (0 comments)
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conventional loans: US Senate Passes $150 Billion Stimulus Package - 02/24/08 10:04 PM
** Click Here For The Original Post on WealthWithMortgage.com**
It's official. On Thursday, the Senate passed the proposed $150 billion stimulus package aimed to avoid a recession sparked by a mighty messy credit market.
The stimulus package includes tax rebates up to $1,200 for households with an additional $300 per child. To … (0 comments)
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conventional loans: What are Jumbo Loans - 02/12/08 09:37 PM
Jumbo loans are loans that have traditionally been needed to buy a home selling for >$417K. Home loans valued less than $417K are usually insured by Freddie Mae or Freddie Mac, so lenders are more willing to make such loans.
The interest rates for Jumbo loans have increase dramatically since last summer … (0 comments)
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conventional loans: Maryland Mortgage Bond Program ( CDA ) has been updated to include the Lifeline Refinance Loan Program - 02/12/08 06:56 PM
The "Lifeline" Refinancing Mortgage Program allows "CDA Loans" to offer refinancing options to MD borrowers who may be facing difficulties after financing their homes with adjustable rate or other unfavorable mortgages, or mortgages that no longer fit their financial situation. Also,ask me about the DC Bond Program for first time home … (0 comments)
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conventional loans: What Are Conventional Loans - 02/05/08 03:54 PM
By, Gaurav Bhola, MSM
The federal government is the major driver of the idea of home ownership. Hence, it has become the biggest player in the residential mortgage market. Approximately one out five residential loans are either guaranteed or insured or by a federal agency. These types of loans are called … (1 comments)
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conventional loans: The 3 Ugly Boxes Are Being Implemented On Appraisals In Kansas City - 01/23/08 10:59 AM
Now mind you we've been told this has only happened in condo/loft section of town.... but it's something to think about.
There evidently are three boxes on appraisals here in this part of the country that have just been sitting there and not being used.
Declining Market Over Supply Over 6 months … (11 comments)
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conventional loans: Asking the Sellers to Pay a Portion or All of Your Closing Costs - 07/13/07 09:53 AM
Go to Requested Information
… (0 comments)
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conventional loans: Mortgage Loan Referrals for Holly Boyd - 03/30/07 06:06 PM
THE FINEST COMPLIMENTS I CAN EVER RECEIVE ARE REFERRALS FROM MY CLIENTS AND FRIENDS!
HOLLY BOYD, LOAN OFFICER, FRISCO, TEXAS #214-213-6216
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