Mortgage / Finance

Anybody that's hung around the ActiveRain “water cooler” for any length of time understands the value of the relationships built on the site. AR is so much more than a social networking site, however.


It's also the place to get up-to-the-minute information on topics that affect your clients. Ask yourself: what's the most confusing aspect of buying a home for the real estate consumer? The answer is most likely financing the purchase. Credit scores and how they affect the mortgage rate, types of loan products, points, fees – whew! -- there's a lot to know about mortgages.


To serve your clients effectively you need to know about this stuff and keep abreast of changes in the mortgage industry. Thankfully, ActiveRain is not only popular with real estate agents and brokers but with finance professionals as well.


Whether you're an agent trying to figure out what the Fed's latest move means to your clients or a mortgage pro who needs input on how to build relationships with real estate agents, ActiveRain is the place to tap into a wealth of knowledge.

Trending blogs on Mortgage / Finance

 

By Mike Bjork
(American Pacific Mortgage)
Comments 0
http://MikesDailyMarketReport.com:  Provides a synopsis of the daily interest rates for mortgages and home loans and Interest Rate Trends.  You'll find insight on what is driving the interest rates for that particular day and some thoughts about short- term and long- term trends with the Interest...

By Rob Spinosa, Vice President of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
Comments 0
Lock Watch for the Week of 4/2/2018 Volatility-O-Meter:Mid to High.  Jobs report on Friday --- watch out for indications of wage growth. Economicalendar (all times are Pacific):Mon, 4/2:       PMI Mfg Index (6:45am).  ISM Mfg Index and Construction Spending (10am).Tues, 4/3:       Quiet.Weds, 4/4...

By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Comments 0
Mortgage backed securities (MBS) closed up 3 basis points today at 102.56 having closed 7 basis points below the 50 day moving average .  The 30 year was available at 4.50% day.  The 30 year jumbo was also at 4.50%.  Whether in New England, the Mid Atlantic or the Midwest or anywhere else in the ...

By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
Comments 1
“Yes, I can Recommend a Hard Money Lender”   Hi Joe,The appraisal for 75 Olive Street property came back at $110,000. Unfavorable marketability due to the numerous repairs. Mostly, asbestos abatement and radon abatement and electrical safety issues.Because the asbestos tiles/flooring is damaged i...

By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Comments 1
As the rumors about the world's retaliation to Trump's tariffs began to become reality, U.S. stock markets reacted badly..  After a first quarter during which the Dow was down around 2.5%, the Dow found itself down 750 points at its session low.  China has now imposed a 25% tariff on 128 U.S. pro...

By Gary Frimann, REALTOR and Broker
(Eagle Ridge Realty / Signature Homes & Estates)
Comments 9
Have Banks Become Too Big to Fail? I was at CAR Expo two weeks ago, and rememberance of years past, I have of ton of reusable canvas type carry bags, all with the names and logos of Banks that are now no longer part of the landscape. As a former loan officer that worked for one of the following b...

By Patty Clark, Helping Families Make the Right Move
(Metro Brokers/Morningside Homes, LLC)
Comments 1
FHA Advantages The Federal Housing Administration, operating under HUD, offers affordable mortgages for tens of thousands of buyers who may not qualify for other types of programs. They are popular with both first-time and repeat buyers.The 3.5% down payment is an attractive feature but there are...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 2
So you checked your credit scores online and you're good to go. You apply for your mortgage and are told that the scores your lender got are significantly different from the ones you got. How could that be?What you may not know is that there are many credit scoring "models". Think about this, you...

By Mike Young, FHA 203k Consultant 916-758-1807
(203kOnLine.com, covering the USA)
Comments 1
I’m a contractor why should I learn about the 203k loan program?If you have all the work you need already then maybe you don’t need to know about the FHA 203k loan program but there are allot of you out there that have been buying my eBook “Contractors and the 203k” indicating that many of you ar...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 2
If you own your land already you may not have to make a cash down payment. In fact you may be able to roll in any closing costs and/or prepaids. HUD (they write the guidelines for FHA construction, purchase and refi loans) wants the borrower having some kind of investment in the home, cash or lan...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 0
A modular builder I know made a posting on Facebook about being asked "What's your cost per square foot?". There are just so many variables in this question, the answer is pretty useless. Does it include land costs? Site development? How large is the kitchen? I have a similar pet peeve, the cost ...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 0
There's no way around it, construction loan rates are a little higher than purchase loan rates. Construction loans are more work and more risk for the lender. Not to mention that the end loan rate has to be locked all the way to completion of the project. That can take 6 to 9 months or longer. Co...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 1
Many of the clients I work with have been gifted their land or purchased it some time ago. But others are looking for the site for their new home. Here are some thoughts and steps you should take before putting an offer in on a lot. *Visit the local Building Department- Every city/township has a ...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 1
Many of my referrals come from factory built home dealer/builders. These homes are great for the FHA/VA construction loan program, they save on construction costs and time. They are built with quality materials, in a controlled climate, to very tight specs. The first question I always have when s...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 3
I frequently get calls from home buyers that want a construction loan to purchase and fix up an existing home. These loan are what we would call Rehab or Rehabilitation loans, not construction loans. The most well know rehab loan is the FHA 203k loan but Fannie, Freddie and even VA have their own...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 1
I had a call from my website yesterday from a frustrated home buyer. He wanted to buy a home with an FHA loan. Not surprisingly he's had a rough go of it. Several offers made, always losing out to a cash or conventional loan offer. He now wants to build but wasn't sure of what steps to take in wh...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 2
With the FHA Construction loan your contractor will only be paid as work is completed. This process is called is called a "draw".    It starts with your contractor contacting the lender to let them know that work has been completed. The lender will then send out an inspector to confirm that the ...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 0
I frequently have potential borrowers state that they want to participate in the construction of their new home to save money. Unfortunately this is another layer of risk for construction lenders in an already risky loan. No lender I know of will allow the borrower to do this on a low down paymen...

By Jerry Thomas-Construction Loans, Construction Loans Conv/FHA/VA
(Cranbrook Loans)
Comments 1
A wise person once told me "The most important thing in your life is your health, but your credit score isn't too far behind.". I wholeheartedly agree.  Your credit score doesn't just affect if you get a loan or not (and the rate you pay) it affects your insurance rates, and even job opportunitie...

By Gary Frimann, REALTOR and Broker
(Eagle Ridge Realty / Signature Homes & Estates)
Comments 8
In case your clients ask, one can really screw up their options and ability to get a good loan.  One of my agents called me yesterday, as a former client of hers from a year ago sold their house and thought that since they sold, and it was under a notice of default (though not a short sale) that ...