mortgage 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)

mortgage rates: What is Transparency?? Best Mortgage Rates/Online services/Real Estate Services - (Part 1 of 2) - 01/17/10 03:30 AM
 
Transparency in the Real Estate world… what does it truly mean?
 
 

How many of you in the last few years kept hearing real estate and mortgage professionals talk about transparency? Before we start, let's define a few types of transparency.
Transparency - as used in the humanities and in a social context more generally, implies openness, communication, and accountability.
The secondary meaning of transparency are - procedures that include open meetings, financial disclosure statements, the freedom of information legislation, budgetary review, audits, etc.
(These definitions come from Wikipedia)
 
 
 

Here is my major frustration … (15 comments)

mortgage rates: FHA Loans vs Conventionals Loans - Things you should know about even with 10% down - 9-19-09 - 09/19/09 01:55 AM
 

 
FHA loans seem to be one of the main choice of mortgages in the last 12 months or so. There are many reasons for this. And FHA loans will definitely be the main choice for anyone buying a condo now. More on that later.. 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 … (9 comments)

mortgage rates: Mortgage Payment vs Mortgage Interest Rate - 07/20/09 03:00 AM
 

 
Mortgage Interest Rates - When people shop for mortgages, one of the first things they want is to know the interest rate. Not only that, they want the best and lowest rate. When your average loan officer hears this, they usually don't want to lose you as a client, so they might low ball the rate a little.  It doesn't matter if they put this quote on the good faith estimate. It's just an estimate on a piece of paper that until you have a property and have locked into this rate, some loan officers won't honor this … (14 comments)

mortgage rates: FHA loans vs Conventional loans - Knowing the true comparisons - 07/10/09 07:09 AM
 

FHA loans seem to be one of the main choice of mortgages in the last 6 months or so. There are several reasons for this, which should be spelled out below in my comparison. 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 in the last 5 years previous to the last 2 years should … (47 comments)

mortgage rates: APR vs Mortgage Interest Rate - knowing the differences - 07/02/09 02:40 AM
 

Shopping mortgage rates can be confusing, especially if you are dealing with a loan officer that has no integrity.  It's just a sales job to them.  You hear people say... Shop Rate...Shop APR (Annual Percentage Rate)…..  Shop mortgage fees….. So which is it?  Shopping for a mortgage can be very frustrating also 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 many professionals. Keep in mind, this is my opinion on this subject.
Lets add some more confusion. Most of … (31 comments)

mortgage rates: A Letter to a consumer - Borrower BEWARE !!!! - 05/05/09 04:00 PM

 
Dear Borrower,
As most of us know, most of us in any business are here to make a profit, to make a living. There will be some that will try to make more on you and there will be many that will give you a very good to fair deal, depending on how you define these terms. But I don't know too many individuals that will do something for free, not unless things fall apart at the end and that person just wants to help you out. Yes, referrals also mean a lot to many of us.
 
Here … (24 comments)

mortgage rates: FHA Loans vs Conventional Loans - 5% down - Things you need to know !!!! - 05/02/09 07:54 AM

For several of you that read my blogs, I try and do a FHA vs Conventional purchase comparison once every few months.
FHA loans have been more wisely used in recent months as the choice of mortgages. What I hate hearing is that they 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 in the last 5 years previous to the last 2 years should … (49 comments)

mortgage rates: FHA Loans vs Conventional Loans - A Rude Reality Check - A Comparison with 20% down - 04/03/09 07:54 AM

 
Important Point to remember -
Never assume that conventional mortgages are cheaper than FHA mortgages if you are putting 20% down, just because you have no mortgage insurance.
I just received a referral from Katerina Gasset the other day who wants all buyers to be approved on her bank owned properties by someone that she trusts, even if that borrower is going to use their choice of lender. The borrower must have told me that she wanted the best rate 3 times. This was up most on her mind and I don't think she heard anything else that I … (26 comments)

mortgage rates: Mortgage Interest Rates will go LOWER !!! Interest rates will go lower !!! - 02/20/09 02:37 PM
 

 
 
 
Mortgage interest rates will go much lower in less than a month. Wait, interest rates will go higher in a month. No, wait, interest rates will go much higher by the end of the year, possibly to double digits.
So, are you confused?  Where are you getting your information from? I have heard both from the news media and the government that they will lower rates. We heard back in November 2008 that rates would go to 4.5%. But you can go to 4.5% now, but depending on the loan amount, the LTV, and your credit … (60 comments)

mortgage rates: Mortgage tools for those buying or refinancing....... Understanding Mortgages - 01/25/09 11:08 AM
 
Shopping for a mortgage when buying your home or refinancing is not as easy as some of you think. First off, you should get yourself pre-qualfied at least 3 to 6 months before you actually go out and look for a home. Especially if your credit is less than perfect.
Secondly, you need to make sure that you are dealing with a mortgage professional. Yes, it's good to be referred to someone. But just a fyi, that doesn't mean that they might be the best for you. I could give you stories. If you don't feel comfortable, it doesn't hurt … (19 comments)

mortgage rates: FHA loans vs Conventional loans - A true numbers comparision with 5% down - 12/20/08 01:51 PM
 

FHA loans have been the main source of financing in the last 6 months. What I hate hearing is that they 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 in the last 5 years previous to the last 2 years should have been FHA mortgages, not subprime. And that is a hard core fact.
The subprime loan for many years could go … (31 comments)

mortgage rates: I have just been called a used car salesman ...... and I am confused to as why. - 12/08/08 03:45 PM
 
Warning… this blog is thought provoking, but is only for the weary sole that can outlast and read 1,500 words. But it’s worth your time…. Just my .02.
 

Today was an interesting day. My Google Alerts told me that someone mentioned me in a post. The title was "Mortgage Professional or Used Car Salesman? Why it pays to know the difference." 
In order to get an idea where I am going with this, you first need to read this blog.  I need a quick fix !!  Please pass me that 4.5% rate over here now !!  (hint-I … (31 comments)

mortgage rates: I need my quick fix !!! Please pass me that 4.5% rate over here NOW !!! - 12/07/08 02:26 AM
 
 

WARNING…WARNING…         
                     information overload...
In the last few days, I have seen several blogs talking about the 4.5% rate.  Fred Chamberlin  wrote this post. Could Mortgage Interest Rates Drop to 4.5% with Treasury Intervention?   He put some good information out there which ended up with some thought provoking comments. But are lower rates just a quick fix???    
 
I have read all the comments and I am a little disturbed at the lack of knowledge and or the lack of common sense that some of us show. I feel that there is something lacking in these comments, lacking … (45 comments)

mortgage rates: FHA loans vs Conventional loans - A real comparision with 5% down - 11/15/08 12:11 PM

FHA loans have been more wisely used in recent months as the choice of mortgages. What I hate hearing is that they 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 in the last 5 years previous to the last 2 years should have been FHA mortgages, not subprime.
The subprime loan for many years could go down to a 500 credit score, depending … (68 comments)

mortgage rates: FHA loans vs Conventional loans -- Numbers don't lie - A 5% down comparison - 09/20/08 02:20 PM

FHA loans have been used 30% more as the choice of mortgages as of lately in many parts of the country. What I hate hearing is that they 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 industry and the real estate industry. The realization has been that 30% of the subprime mortgages in the last 5 years previous to the last 1 1/2 years should have been FHA mortgages, not subprime.
The subprime loan for many years could … (23 comments)

mortgage rates: Lock Lock..... Who's there? - 09/17/08 06:52 AM
 

  ...... my rate is locked, but rates came down.
      ....... my rate is locked, but rates came down who?
          ........ But rates came down, so I want the lowest rate now.
With the volatile market and rates dropping by more than 1/4% to 1/2% in the last 10 days, people want the lowest rates. And this is even after they locked into their rate 15 days ago. What makes it difficult in today's market is that this is not always easily achieved. Why? Because the point of locking in is to be safe. Also, brokers in … (23 comments)

mortgage rates: Give me the best deal & I want the best service !!!! - 09/13/08 03:57 AM
Are you a savvy shopper? Are you an educated shopper? How about sloppy? Cheap?  Risky?  Are you one that shops yourself right out of the market?
Are you one that jumps at any deal just because it says sale?  Or when someone advertises "guarantee lowest rates" or "no fees"? 
I have no problem with consumers looking for deals. Not at all, because I am one of them.  I love bargains and steals.  But how do you know when you have a deal that you have stolen at cost?  What can it cost you short term or long term if it isn't such … (32 comments)

mortgage rates: Are you fake busy or busy as a bee??? - 06/24/08 09:32 AM

 
How many times do we use the phrase, "I am so busy, there is not enough time in a day". As a professional mortgage banker, helping people with FHA loans and Conventional loans, I have been very busy the last few months. And there are times, no matter what month or time of day, I am beyond busy. At times, I will admit, I will ask someone if I can call them back in a few minutes, maybe an hour later, or that night. Sometimes, I will just ask them if I can speak to them tomorrow. I have … (17 comments)

mortgage rates: Top Six List : What questions should be asked prior to your mortgage application.... - 06/23/08 01:41 AM
 

 
The one million dollar question.  Should you talk to a realtor first and find out what houses you could buy or should you speak to a loan officer first to get your financing options in place? 
Speak to a loan officer first.  Time again, I get consumers coming to me after they found a house and need to settle on it prior to being qualified for a mortgage.  Don't you want to know what your payment is?  What it might cost you at settlement?  Never assume.....  
Just a FYI :  FHA loans might even be your easier … (16 comments)

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

Jeff Belonger

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

Cherry Hill, NJ

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

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Subscribe to Mortgage Knowledge at its BEST!!!! (Jeff Belonger) 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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