Mortgage Update

We now offer a conventional 20-year fixed. What's the big deal? Rate 3/8% lower than 30-yr fixed, payments only 20% higher, savings 40% of the loan amount! More below... /// The closing date for the home buyer tax credit has still not been extended. Actually, it has been defeated 3x in the House....

The Senate has approved an extension of the closing date for tax credit deals. The House has not yet. Details. /// Reminder: Fannie Mae has 93,000 REOs to sell through Homepath, and Prospect is an approved lender. See below. /// We now have up to 90%ltv available without PMI. See below. /// Make ...

Heloc anybody?  Helocs are almost forgotten, but still availabe to 85% LTV (More below). /// The closing deadline for tax credit deals may be extended to the end of September. Good idea, but a little late. Until this happens, I am not counting on it. Read more. /// I see credit gaffes at least we...

Mortgage Ready? New credit reports required just prior to funding (which can nix your loan or rate right there), explanation letters for recent credit inquiries, FHA thin credit policy (see below) - and a few more items that can have a big impact.... I now we need to go beyond pre-approvals to ma...