interest rates: “Today’s Interest rate” – How to Shop for Interest Rates Smartly - 06/10/11 03:35 AM

 
Shopping for Mortgages & Shopping for Interest Rates Smartly You now want to buy a home and need a mortgage. You would think it would be easy to call around to mortgage companies and ask, “What is today’s interest rate”. Sounds simple, right?  Au contraire mon frere…. On the contrary.
There are a few misconceptions that many have when shopping for interest rates.
That all lenders have one basic rate to offer That big lenders or big banks have better rates than smaller lenders and can give discounts That referrals will get you a better interest rate  
 
All … (15 comments)

interest rates: Mortgage Market Report - Mortgage Interest Rates hit historic low for 2011 - 06/03/11 03:23 AM

 
Mortgage Market Report - Interest Rates hit historic low for 2011 As of yesterday, mortgage interest rates were hitting historic lows for 2011. Today was the key focal point if rates were to continue to go lower based on non-farm payrolls and on unemployment.  As of this morning, the news is reporting that non-farm payrolls only increased by 54,000 in May, significantly less than 150,000 increase that the economists had been expecting. Regarding the private sector, private employers only added 83,000, instead of the 180,000 that was anticipated. And unemployment rose from 9.0% to 9.1% the month prior.
Depending on your credit … (5 comments)

interest rates: The Myths about ZERO point mortgages instead of paying points - 12/17/10 08:26 AM
 

 
When shopping for a mortgage, one needs to know and understand their specific goals, and this should be done even before you start to look at a home or speak to a loan officer.  The reason being is because there are several ways of looking atzero points, in which some advertise with no points or no costs, and if you should pay points for your interest rate.
The first step is to have a list of  your short term and long term goals.  Not only should you know your goals, but your loan officer should be asking about your goals.
Below … (31 comments)

interest rates: Mortgage Interest Rates ~ Mortgage Market Reports for October 27th, 2010 ~ - 10/27/10 04:29 AM
 

Mortgage Market Reports
 
We keep hearing reports that Mortgage interest rates are still be very low, ranging from 4.00% to 4.50% for a 30 year fixed rate. This is all dependent on your credit scores, your down payment (usually just on a conventional mortgage), the size of your loan amount, and the type of mortgage program. And if you want 3.875%, you just have to pay some points.
I am sure many of us have been extremely use to the low rates in the last 6 months, to where we have reached record lows since interest rates were … (2 comments)

interest rates: Mortgage Interest Rate vs Mortgage Payment - 10/22/10 05:45 AM

Mortgage Interest Rates - One of the first things a borrower wants to know is what mortgage interest rate the lender has to offer. And for the fact that many want the lowest interest rate. Okay, it's all human nature. But what's missing? It certainly can be a balancing act when you are trying to get the lowest interest rate when your main focus should be about your actual mortgage payment. One of the first questions that should be asked is what kind of mortgage payment you would be comfortable with, or at least a range. I have been criticized by … (5 comments)

interest rates: The Deep Secrets of locking interest rates - Mortgage Interest Rates in New Jersey - Locking your Home Interest Rate - 10/20/10 03:29 AM
 

 
Information on locking your mortgage interest rate, securing that home interest rate, can be very important at times. This information should be given to the borrower when shopping for a mortgage. What I know is that not all loan officers or lenders are on the same playing field when giving you such information to when and how you can lock your mortgage interest rate.
Current interest rates are at an all time low. Many are seeking a low interest rate and this is usually the first thing on the borrowers mind.  Your focus should not be on the … (13 comments)

interest rates: How to find a great mortgage interest rate in New Jersey or any other state...... - 09/21/10 09:04 AM
 

 
Shopping for that best interest rate. First off, you need to be careful when using the term best, because we always want the best of anything. Remember these two old sayings?  "You get what you pay for" or "If it's to good to be true, that it might not be true."
Well, the same could be said when shopping for that mortgage interest rate.  I read an article last week that disturbed me some, because I felt it left some important information out. It started out that you should deal with a mortgage broker instead. Here is his … (10 comments)

interest rates: FHA Streamline Refinances & FHA loans in general in New Jersey - You need to know the facts - - 09/16/10 03:28 PM
 
More the reason why you need to speak to a knowledgeable professional loan officer


 

 
With mortgage interest rates being so low, you would think many people are refinancing. And one would think that more would be doing FHA streamline refinances, because it should be so easy, hence the name streamline. Sorry to sound negative, but no and no, for many reasons.
There is also a mortgage myth, aka mortgage rumor, that FHA streamlines are cheaper than regular FHA loans. A complete lie. I just had a potential borrower that was told this. Yes, there are … (7 comments)

interest rates: Mortgage Interest Rates - up up and away..... ~ Mortgage Market Reports for September 10th, 2010 ~ - 09/10/10 10:17 AM

 
Mortgage interest rates continue to still be very low, ranging from 4.00% to 4.50% for a 30 year fixed rate. This is all dependent on your credit scores, your down payment, the size of your loan amount, and the type of mortgage program. And if you want 3.875%, you just have to pay some points.
I am sure many of us have been extremely use to the low rates in the last 6 months, to where we have reached record lows since interest rates were first recorded back in 1971. But don't get to comfortable, because what comes down … (3 comments)

interest rates: Shopping for mortgages in New Jersey - It's not like shopping for cars - 08/26/10 12:30 PM
 
Shop till you drop - this might not be wise advice when shopping for a mortgage

 

I wanted to bring up this topic because it still happens more than it should. I know we all want the best deals, but anyone can make general promises on the phone or on paper.
Shopping for a mortgage in New Jersey is not easy and it's not like shopping for a car. A car is a car, but ones service could be better.  And one could argue that most mortgage companies should have the same interest rates and mortgage programs. … (15 comments)

interest rates: Mortgage Interest Rates - Mortgage Market Reports - July 23rd, 2010 - 07/23/10 02:20 PM
 

 
Mortgage interest rates continue to still be very low, ranging from 4.25% to 4.75% for a 30 year fixed rate. 
So why are interest rates so low?  Some investors on Wall Street fear a double dip recession approaching. And these investors will seek more stability in buying bonds, such as the MBS's, Mortgage Backed Securities. By buying more MBS's, this can control the interest rates. Another reason is because earlier this week Treasury auction bids rose to 18% to record as investors surpass bond dealers.
 
 

 
 
Interest rates at one point this week hit … (8 comments)

interest rates: Wait until next year to buy your home - Prices could be 3% less.... - 07/01/10 10:12 AM
 
Be very careful on what you hear from others when it comes to the real estate market

 
 

There is some news out there from realtors and so-called experts advising buyers to maybe wait for a year or so.  This kind of stuff angers me for many reasons.  Here is a question I just read from a potential home buyer:
"Where do you think home prices will be by the end of this year and by next June 2011 in New Jersey."
 
Answer by a realtor :
"I'll go with down 3% end-of-year and 5-6% by … (15 comments)

interest rates: Mortgage Interest Rates - Mortgage Market Reports - June 29th, 2010 - 06/29/10 09:35 AM
 
Mortgage Interest Rates hit historical lows !!!!
 

I am sure many have been hearing that mortgage interest rates are historically low in the last few days. It seems like in the last few years we have heard this and in many cases, it was just a marketing ploy to get the phones to ring.  Well, as of this week, they have hit their lowest peak since interest rates have been tracked as far back as 1971.
So why are interest rates so low?  Some investors on Wall Street fear a double dip recession approaching. And these investors will … (9 comments)

interest rates: Mortgage Interest Rates - What do you have to give me??? - 06/21/10 05:14 AM
 
Interest Rates - What kind of rate do you have for me?
 

 
Mortgage interest rates can be very complex.  It's a question that is harder to answer today more than ever before. There are just to many variables that can go into a specific interest rate. Yes, you will still see many advertisements on the tv, on the internet, on Facebook, or hear them on the radio that give out low interest rates. How many times do you see the fine print appear and last for only seconds. This is where some of your detailed information is … (12 comments)

interest rates: We must face reality & common sense in the real estate market. Interest Rates will rise !!!! - 04/08/10 03:46 AM
 
BE PREPARED – Ready & Armed for any curve balls in today's market
 

 
Mortgage Interest Rates have been on the rise.  People need to be aware of this, especially if you are shopping for a mortgage and you are already tight on your mortgage payment.  When your loan officer pre-qualifies you, they should always show you a comparison with rates about 1/4% higher than today's market. Just that 1/4% in rate could make a difference in regards to your housing budget or just for the fact that you might not qualify now.
Overall, I think too many … (26 comments)

interest rates: As a first time homebuyer, not knowing anything about buying a home, where do I start? Realtor or Loan Officer?? - 02/25/10 12:37 PM
 
Real Estate Question : As a first time home buyer not knowing anything about buying a home, where do I start?

 

 
The question above was something I just read on Trulia's questions and answers section.  I was very shocked at some of the answers that were given from realtors. Let me start by saying that this is merely my opinion. No, I am not always right and don't claim to be, but some questions should not be answered by a realtor and or a loan officer. Sorry, that is a fact and I will stick by … (81 comments)

interest rates: Congress, YSP (Yield Spread Premium), and the Real Estate Recovery - Some things should be left alone !!! - 02/08/10 04:10 AM
 
Have we been in a crumbling economy in the last few years?  What about a crumbling real estate economy in the last 2 years?
In my opinion, I would say yes to both questions.
In some cases, do we have too much government prevention or regulation at times?  Jason Crouch wrote an excellent article the other day :
Is Congress Working to Create Yet Another Potential Hurdle to Real Estate Recovery? In this post, Jason makes a great point about how the government seems to intervene and over regulate, thinking that it will help our economy and potentially our real … (28 comments)

interest rates: FHA loans vs Conventional loans - Get a bang for your buck - Large down payments aren't always the best way - Part 3 of 3 - 02-01-10 - 02/03/10 03:14 AM
 

 
I have been talking about comparing FHA loans to Conventional loans and how to use your money wisely in my last 2 mortgage posts. The links are below and I suggest you reading them to find out what the fuss is all about. But in this post, I wanted to bring up 2 important points.
some people argue that you should put more money down if you have it, so you don't become up-side-down in your property (I disagree with this statement) another point is that you could actually make a lesser down payment and take some of … (12 comments)

interest rates: FHA loans vs Conventional loans - Don't be cash poor!! - Part 2 of 3 - 01/29/10 06:29 AM
 
Don’t be CASH POOR – CASH is KING
 
 
FHA loans have been used more in recent years. Many have talked negatively about FHA loans because of their high default rates as of lately. Don't be fooled by chatter that is not backed up by fact and why this is happening.  Please read : Should we ABOLISH FHA loans?
One of the main myths that I wanted to dispell in this blog post is that you don't need 20% to buy a home in today's real estate market or that you need a 720 credit score. These are bad … (38 comments)

interest rates: FHA Loans vs Conventional Loans - A real comparison with 20% down - Part 1 of 3 - 01/28/10 03:30 AM
 

FHA loans seem to be one of the main choice of mortgages in the last 24 months or so. There are many reasons for this. What I hate hearing is that FHA mortgages have taken the spot of the subprime loans. This is not true by any part of the imagination. This statement is from those that are inexperienced in both the mortgage and the real estate industries. The realization has been that 30% of the subprime mortgages from 2002 to 2006, should have been FHA mortgages, not subprime. But why are FHA loans getting bad press now, stating … (15 comments)

 
Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages  - USDA loans - VA Loans ( Social Media - Infinity Home Mortgage Company, Inc)

Jeff Belonger

The FHA Expert - FHA Loans - FHA mortgages - USDA...

Cherry Hill, NJ

More about me…

Social Media - Infinity Home Mortgage Company, Inc

Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033

Mobile: (609) 440-5133

Fax: (775) 361-6619




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I just want to educate people about mortgages and the process. In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.







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