refinance: FANNIE MAE/FREDDIE MAC Agency Shortcut Mortgage Program Eliminated
- 04/04/08 03:07 AM
Effective for all registrations after Friday, April 4th, another lender is eliminating the Agency Shortcut Mortgage program.All Agency Shortcut mortgages must be registered no later than Friday, April 4th. We will not accept any registrations on the Shortcut program after this date. There is no lock cut off date as of yet, however all Agency Shortcut Mortgages must close and fund no later than April 30th. No relocks or extensions will be granted.As an alternative to the Shortcut, I've included a couple of options to consider:1) Agency "Limited Doc" -Best pricing: Borrower's who have at least a 680 middle credit score, … (1 comments)
refinance: Know Your Options When Refinancing
- 01/30/08 01:31 AM
I have a client, let's call her Heidi. Heidi is a very successful business owner who needed to refinance her home in order to pull out equity to use in her business expansion plan. Her accountant counseled her that utilitizing her home's equity would cost less in interest, and would be less of a hassle to obtain than an SBA loan. Let me show you how this scenario played out, and why if you want to work with a mortgage professional, my advice would be that you CHOOSE ME. Heidi's current loan is a 30 year fixed at 6.75%. She owes $188k on … (0 comments)
Tuesday, August 12, 2008
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