certified mortgage planner: Professional and FREE "education/training/motivation" and more for Realtors... - 03/01/09 04:54 AM
Howdy,
This site offers a wealth of information, all free, for you, the Realtor.  Let me know what you think about the content and how helpful it is to you.  You'll find "stuff" from Tony Robbins, Joe Stumpf, Howard Brinton, Walter Sanford and much more. 1. Articles you can PDF or print and use accordingly2. Interviews with top trainers/motivators that you can listen to at your convenience3. And more...Just Click Right Here.The only "snag" I've come upon is this.  If you go to the article section and click "Create PDF"... some browsers won't read the response and it will appear as if … (1 comments)

certified mortgage planner: The week that was and the week ahead in the market - 01/11/09 09:25 AM
Here's a link to our quick-read market update.
Just Click Here.
Ken PedersonCertified Mortgage Planner, CMPSFAIRWAY Independent Mortgage Corp.717-431-9299PA's Best Lender
(1 comments)

certified mortgage planner: Mortgage rates and the market... - 11/20/08 11:48 AM
Lot's happening in the market, but here's what I'm writing about. Stock market loses money yesterday and today and Wall Street is selling, but when they sell... where do they put their money? No, it doesn't go into savings or cash, because Wall Street will always put their money where they can earn a little extra yield and cash isn't the place. The money, the past couple of days has flowed heavily into US Treasuries. And big time too, in fact, Treasuries improved by over 200 BP's. And what have mortgage rates done... nothing. The point of this is to confirm … (2 comments)

certified mortgage planner: Yes... you can get a mortgage today! - 11/20/08 11:43 AM
Despite what some people think or believe... most people can get a mortgage today.  And no, it's not hard either.  Unlike the past few years when just about anybody could get a mortgage, the difference today is a buyer has to qualify and fit into fairly easy guidelines.  Here are the basics.  
1. Have documentable income.  Self-employed buyers should have a two year history of being self-employed or at least a good history of being in the same line of work.  Home payment and debt load need to be close to standard qualifying ratios.    2. Have some money.  Although … (0 comments)

certified mortgage planner: What the market did.. and what's happening this week? - 11/17/08 02:35 AM
Here is a quick snapshot of what the market did last week and what's happening this week. 
This is a good, quick read.  Just Click Right Here.
 
Courtesy:
Ken PedersonCertified Mortgage Planner, CMPSFAIRWAY Independent Mortgage Corp.717-431-9299
PA's Best Lender
 
(0 comments)

certified mortgage planner: What the market did and what's ahead for mortgage rates... - 11/02/08 10:12 PM
What happened last week?What to look out for this week?
And some financial tips on leasing versus buying an automobile.
Click on the link to my weekly "Market Update".
Courtesy of Ken PedersonCertified Mortgage Planner, CMPSwww.FairwayPA.com717-431-9299
 
(3 comments)

certified mortgage planner: Investment and rental property news... - 10/16/08 11:45 AM
Investment property purchases have been fairly strong this year, for good reason. Less people are buying homes which means more are renting and this trend may continue for a little while due to more standardized underwriting guidelines.There is one change that has just happened to make it safer for the investor and that is a requirement for a minimum 20% down payment. As of today, there are no mortgage insurance companies that will insure an investment property. So, buyers will need at least 10% down payment and will be rewarded with lower rates if they put 25% down. Now, many "buyers" … (4 comments)

certified mortgage planner: What's this? 100% Financing, No Monthly PMI Payments and it's not VA... - 10/14/08 11:22 AM
In the past few months we have written a lot about FHA loans and the benefits of this "in vogue" mortgage product.  We have also talked about the tightening of the industry, especially in the Freddie/ Fannie Conventional world. 
So if I told you that there was a Conventional loan that had:   NO down payment, NO monthly PMI, the seller is allowed to pay all reasonable closing cost and prepaids, and NO hit to the rate for the zero down,  NOT a first time home buyer program and No reserves needed,   what would you think?  If I told you also that … (4 comments)

certified mortgage planner: Is now the right time to buy Real Estate? - 10/02/08 12:26 PM
If you read my other blog, MortgageScribe, you will know that I have been strongly in favor of purchasing real estate for quite some time now.  There are too many strong factors that all point towards being a buyer or investor... Today, right now. 
1. Strong supply of homes on the market in all price ranges.2. Anxious sellers that are willing to negotiate prices, closing costs or both.3. Crazy low interest rates4. Tax Credits of up to $7,500. for first-time homebuyers!!! (this is HUGE)5. Home prices are down and off their highs. (Buy low, sell high)6. Mortgages are readily available with safe 30 year fixed … (4 comments)

certified mortgage planner: For Realtors Only... - 09/08/08 12:47 AM
Any feedback you have on this website would be greatly appreciated.  We have invested in this site that is designed to help us and our Realtor clients with their business.  There is information here, available in various formats to help you.  You will recognize most of the contributors, as they are the top names in the areas of coaching, training, marketing and sales.  Once again, your feedback is appreciated.
Click on the following link...  To Your Success!
Courtesy of:
Ken PedersonCertified Mortgage Planner, CMPSFAIRWAY Independent Mortgage Corp.717-431-9299PA's Top Lender
(4 comments)

certified mortgage planner: Where are mortgage rates heading??? - 09/08/08 12:38 AM
Mortgage rates are volatile and can turn on a dime these days.  Up one morning and down in the afternoon and vice versa.  There has been some good movement and general "trending" since earlier in August though which could be a positive sign for mortgage rates as we head into the fall. 
Click Here for a quick synopsis on what happened last week and what's in store for us in the week ahead. 
 
Courtesy of: Ken PedersonCertified Mortgage Planner, CMPSFAIRWAY Independent Mortgage Corp.717-431-9299PA's Top Lender 
(1 comments)

certified mortgage planner: Where are mortgage rates heading??? - 08/29/08 12:21 AM
Check out the bond chart below. As bond prices go down (see the red), mortgage rates go up. As bond prices go up (see the green), mortgage rates go down.  (please note, there are many factors that push rates one direction or the other, but mortgage rates do tend to move adversely to bond prices)  Note the volatility of the ups and downs over the past 3 months. Now, notice all the green since August 11th and the "break-out" above several of those downward trending lines which had been acting as "ceilings of resistance." Nobody knows what will happen with mortgage rates, … (0 comments)

certified mortgage planner: FHA Financing Changes... - 08/29/08 12:13 AM
FHA financing is undergoing some changes as a result of the "Housing and Economic Recovery Act" or HERA. Here are a few of the major changes. *No more seller-funded Down Payment Assitance programs.  Grants and gift money is still OK. *Buyer contributions will be increased from 3% to 3.5% *The recent credit-score driven mortgage insurance costs are being postponed. *For most FHA home purchases and refinances, there is a small bump from 1.5% to 1.75% for the Upfront Premium that is financed and the monthly renewal cost is increasing from .50% to .55%. This is a minor change that won't alter qualifying or … (0 comments)

certified mortgage planner: Nehemiah and other Down Payment Assistance Programs are going away... - 08/06/08 12:23 PM
Another "hot" item in the Housing Reform Bill signed by President Bush last week was the elimination of Down Payment Assistance (DPA) Programs.  A Down Payment Assistance program was allowed by FHA and some conventional loan programs.  What started as a way for non-profit groups like churches and such to gift funds to their members, became a business.  Non-profits cropped up with the sole purpose of "gifting" funds to buyers and primarily used with FHA. 
In the typical situation, a seller would make a donation to a non-profit and then the non-profit would "gift" funds to the buyer.  Sort of like a … (7 comments)

certified mortgage planner: 1st Time Buyers find money in new Housing Bill - 08/06/08 12:07 PM
I'm writing to let you know about one part of the new Housing Reform Bill that President Bush signed last week that may be of interest to you.  The Bill was almost 800 pages long, so our resources are still deciphering it.  But, there is one part that will be of interest to many First Time Home Buyers. 
The term "First Time Home Buyer" typically refers to a home buyer that has not owned any real estate in the past three years.  Now, here's the information from the Bill, as I understand it.
First time home buyers are now able to … (1 comments)

certified mortgage planner: Mortgage Calculator - 07/31/08 01:55 PM
We have a vibrant Mortgage Calculator that offers various scenarios and options.  You may forward this friends or clients if you wish.
Ken PedersonCertified Mortgage Planner, CMPSFAIRWAY Independent Mortgage Corp.
Serving all of PA and surrounding States.
(4 comments)

certified mortgage planner: Mortgage Calculator - 07/24/08 12:19 PM
Click on the link for some great Mortgage Calculators.
Posted by Ken Pederson  Certified Mortgage Planner, CMPSFAIRWAY Independent Mortgage Corp in Lancaster, PA
PA's Best Lender 
(0 comments)

certified mortgage planner: Volatile Interest Rate Market - 07/24/08 12:14 PM
Take a look at the chart below and you can see the volatile movement of the bond market and mortgage interest rates will correspond accordingly. As bond prices go down, as shown in RED below... mortgage rates go up. As bond prices go up, as shown in GREEN... mortgage rates go down. This recent uptick in rates is due to many factors, yet the biggest maybe market fears about Fannie Mae and Freddie Mac. You can read more about this, click here. (See "Loan Giants' Woes Push Up Rates.") Now for some good news... the bond market did rally on Wednesday … (0 comments)

certified mortgage planner: The Housing and Finance Bill - 07/24/08 12:07 PM
This Bill synopsis was provided to us by Lenders One. See bottom of article for full credits. Dated 7/23/08. The House and Senate reached agreement on a massive housing bill that affects FHA, Fannie and Freddie, tax policy and many changes involving the housing market. We have previously briefed you by conference call and email on the progress of several separate measures, but the housing and mortgage crisis has caused Congress to combine these provisions into a bill exceeding 400 pages. The House will vote on the measure tomorrow, with the Senate to follow by next week. The White House has … (0 comments)

certified mortgage planner: The Fed and Mortgage Rates - 06/26/08 11:59 PM
The Fed left the Fed Funds Rate unchanged when they met on Wednesday. The Fed is in a tough position right now... Inflation is hitting us all with higher prices at the gas pump and food and almost everywhere we turn. And the Fed's best way to combat inflation is to raise rates. But, they just started lowering rates last September and the 1st quarter of 2008. These Fed cuts were to spur on the economy and the housing market. The Fed can "feel" the inflation, yet also want to see more growth and a stronger housing market. Bernanke has done … (1 comments)

 
Ken Pederson, Certified Mortgage Planner (FAIRWAY Independent Mortgage Corp)

Ken Pederson

Certified Mortgage Planner

Lancaster, PA

More about me…

FAIRWAY Independent Mortgage Corp

Address: 801 Estelle Drive, Lancaster, PA, 17601

Office: (717) 431-9299

Fax: (866) 580-9204

Ken Pederson, a mortgage lender and Certified Mortgage Planner in Pennsylvania, talks about wealth accumulation and mortgage advice.


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