fixed rates: The window is OPEN - rates are the lowest they have been ALL YEAR!
- 05/19/14 04:43 AM
Interest rates. They are used for credit cards, checking accounts, loans of every imaginable kind, and of course - for mortgages. When interest rates rise, they make buying a home more expensive. When interest rates drop, the cost of buying a home also drops. What has happened in the past week is something that is very client friendly - interest rates have dropped. Interest rates can drop on any given day, and so this creates a buying opportunity, but the window is often a short one. What can it mean for you? Well, the impact on a payment due to a … (0 comments)
But, what if you do not already live here? People have to determine commutes, cost and schools just like any other community. What often separates Almaden can be the cost to live here - how much down payment can you afford? What is your monthly income, and how much of a payment can you fit into your budget? Well, from a lending perspective, we now have more choices than we have had for many years, and these choices can make living in Almaden a reality … (0 comments)
fixed rates: The Government Shutdown - how it affects YOU and Mortgages!
- 10/04/13 05:50 AM
You knew it was coming. The media began the buildup last week, and then hit a peak this Wednesday when it became official - the government is financially shutdown! Drama everywhere, and the political parties are not exactly working together as of yet. Plenty of lines in the sand and so on....... So, how does it impact our industry? For mortgages, it impacts us on 2 fronts - lenders REQUIRE that we verify tax returns, using form 4506T that is processed by the IRS. Several lenders require this form BEFORE they will approve your loan. That would be a problem when … (2 comments)
fixed rates: Call to ARMs! And more creative ways to make home purchasing easier!
- 08/20/13 03:12 AM
Ok, so we have all seen interest rates on the rise, and when they jump so much in a short period, rates can impact both the refinance market and home purchase market. When interest rates climb, home affordability is reduced. When rates climb a large amount in a short time, they can have a significant impact on home purchasing. How do we address this, particularly when the real estate market has done a terrific job of recovering in most areas of the country? After all, interest rates are historically low - albeit no longer at all time lows so is this … (10 comments)
Interest rates. They are used for credit cards, checking accounts, loans of every imaginable kind, and of course - for mortgages.
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