harp: Rates at record lows and HARP continues to be a winner for many
- 01/03/13 03:46 AM
Interest rates remain at all time lows as we begin 2013. If you are in the market to purchase you are in luck. With prices remaining low and rates incredibly low, home affordability is extremely high. For example on a 30 year fixed rate purchase loan of $400,000 with 20% down payment the monthly payment would be $1740.83 (Principal & Interest) at a rate of 3.25 % (APR 3.292%) Usually when you hear someone say "there has never been a better time to buy" it is a sales pitch... well, you do the math. The refinance market continues to be very … (0 comments)
harp: The Top 10 myths and misunderstandings about refinancing in today’s market..
- 01/11/12 09:58 AM
1. It is just too hard to get a loan. The fact is for some time lending guidelines were just too easy. Today's guidelines have moved to a place that really does make sense. Qualified borrowers are finding the process to be reasonable and streamlined. The restrictions that have been put in to place are good for borrowers and for the banks making the loans.
2. I'm waiting for rates to go down. Right now rates are the lowest that they have ever been. Although it is possible rates could go down more it is unlikely. The Federal Reserve … (1 comments)
harp: HARP Here We Come
- 12/07/11 06:10 PM
The latest news on the new Home Affordable Refinance Program, HARP, is that Federal regulators have recently made key changes that will help borrowers who owe more on their loans than their homes are worth. Every week I receive inquiries from home owners who are current on their mortgages but can't refinance because their loan balances are higher than the value of their homes. The new HARP guidelines will help many homeowners reduce their interest rate. Based on today's rates this would be at or below the 4% range for a 30 year fixed loan. There are two options with the … (2 comments)
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Based on more than 30 years of hard won experience and over 1000 homes sold.
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Interest rates remain at all time lows as we begin 2013. If you are in the market to purchase you are in luck. With prices remaining low and rates incredibly low, home affordability is extremely high. For example on a 30 year fixed rate purchase loan of $400,000 with 20% down payment the monthly payment would be $1740.83 (Principal & Interest) at a rate of 3.25 % (APR 3.292%) Usually when you hear someone say "there has never been a better time to buy" it is a sales pitch... well, you do the math.
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