twin cities mortgage: Who Is Going To Write These Loans?
- 01/04/11 04:09 AM
The mortgage industry has seen much blood shed in the last 2 years, particularly in the last year. After reading a very interesting magazine article, I began to think about the future...the eminent future and a big question arose, "Who the heck is going to write these loans"? What is the MN Mortgage Mom rambling about now? Well, let me take a step back a few years first. In the early to mid-2000's, loan officers were a dime a dozen. We were in offices, working out of our garages and in the comforts of our living rooms. We were dressed in … (0 comments)
twin cities mortgage: FHA Loans...Buyers Be Warned! You May Want To Act Now.
- 01/20/10 12:03 PM
Amidst the rising foreclosures in our country, the Federal Housing Administration has seen dramatic losses and its reserves have fallen below Congressional required levels. In response, FHA is raising fees and tightening lending standards in an effort to bring more revenue to the agency and continue to keep FHA loans available to YOU, the consumer. If you are waiting to purchase a home during the Spring/Summer market, you will be amongst the borrowers affected by the new changes. It may be time to get off the fence now, instead of later! Although specific dates have not yet been announced, here is a snapshot of the upcoming … (1 comments)
twin cities mortgage: FIRST TIME HOMEBUYERS...What You Need To Know
- 08/09/08 05:37 PM
First Time Homebuyers are my niche...they are the lifeblood to my Twin Cities mortgage business. I love working with them because I can be a coach, a nurturer and a great knowledge base to learn from. I've been told that I am a great teacher. And mortgages are what I know best! First Time Homebuyers have many questions. Home financing can be a sea of confusion. "Where do we start?" "What do we do first?" "What is the process?" When a First Time Homebuyer is beginning the homebuying process, these are the questions I get asked most often. Here is a … (2 comments)
twin cities mortgage: Stealin' the Show in Cottage Grove!
- 08/07/08 06:26 AM
For nearly 15 years, I have enjoyed this wonderful community. It's great neighborhoods, sense of safeness, friendly people and an overall feeling of peace living here. And who can forget about the new Culvers moving in! Yummmmm!! Last evening, I took our puppy, Mic, for a walk (okay, puppy in mind and soul...maybe not so much puppy in size). We stopped along the way to visit with people outside and just enjoyed the beautiful summer evening. Now, everyone who lives here can tell you how nice our parks are and Mic (puppy) is no exception. He has one particular favorite that we frequent all … (0 comments)
twin cities mortgage: Turn Your Current Home Into a Rental and Buy New? MAYBE NOT ANYMORE!
- 08/07/08 02:49 AM
Remember the good ole days when a buyer could EASILY turn their current residence into a rental and buy a new home? Well, those days are over. Our lives and our buyers lives just got a little tougher. There are new guideline changes that became effective Aug 1st that we should all be aware of. The guidelines are listed below, but in a nutshell, here's what it says: We can still use rental income to "offset" the current mortgage payment, but now Fannie (with Freddie soon to follow) is requiring that the only way to use that rental income is if the property has a … (0 comments)
Treasury bonds finally got a much needed break on Monday and long-term mortgage rates reacted favorably. Even though rates crept up last week, let's put this into perspective. Remember the 80's? (Okay, maybe I am dating myself...yes, I realize that many of you were still in diapers.) Nonetheless, there were times when 30 year fixed rate mortgages were in the double digits. How about 11%? 14%? Now, that's what I call high. The good news is that interest rates are still below 7%...considerably below. And although rates may ticker up a bit from time-to-time, the bottom line is that they are still … (0 comments)
twin cities mortgage: Twin Cities Mortgage
- 03/06/08 11:04 AM
March 6, 2008 To all my readers, I want to say thank you for the kind words and shared laughs regarding my stories that I include from time-to-time. I'm glad I can make you smile! Here is my latest... For those of you who know me, I am a VERY down to earth person. Not presumptuous, not egotistical and certainly not materialistic. Well, I think my oldest daughter may have come from a different mold. I grew up on a large dairy farm up until I was 16 years old. Certain traditions were instilled and to this day, I am what you call a … (0 comments)
twin cities mortgage: Twin Cities Mortgage
- 03/04/08 08:00 AM
March 4, 2008 I hope you took my advice from Monday and locked your mortgage interest rate. Today has been a bad scene on the secondary markets. Didn't get in on time while rates were below 6%? Call me and I will see what I can get for you. That's the beauty of a Mortgage Broker. I can shop all day for you! Besides, a second opinion can be very healthy and can often time save you thousands in the long run. Before I get to today's bad news, I have to share a wonderful compliment that I received on one of my recent … (0 comments)
twin cities mortgage: Twin Cities Mortgage
- 03/03/08 06:10 AM
Monday, March 3, 2008 Today has been a quiet day for interest rates. Mortgage rates have remained unchanged since last Friday. However, industry leaders are edging toward a "lock" recommendation, as this week may be prove to be volitile. My clients ask me every day, "Should I lock or float?" And my answer is this..."Your crystal ball is as good as mine." (Okay, maybe not quite that blunt, but you get my point.) Our markets have been so crazy and so unpredictable that it is hard for even the experts to get a good handle on things. So when should you lock? … (0 comments)
twin cities mortgage: Twin Cities Mortgage
- 02/29/08 01:45 PM
February 29, 2008 It was a good day for interest rates. Treasuries rallied as the stock market continued to plummet, thanks to a weaker than expected GDP. The economy barely moved and jobless claims rose. All of this "doom and gloom" gave rise to treasury prices and mortgage interest rates celebrated. And it was about time for a celebration! After two weeks of rising rates, it was good to see mortgage rates make up some of the previous losses.
Twin Cities Mortgage Rates 30 Year Conventional 5.875% 15 Year Conventional 5.250% 30 Year Jumbo 6.875%
Call me regarding your purchase or refinance today! Minnesota Mortgage Mom
The mortgage industry has seen much blood shed in the last 2 years, particularly in the last year. After reading a very interesting magazine article, I began to think about the future...the eminent future and a big question arose, "Who the heck is going to write these loans"? What is the MN Mortgage Mom rambling about now? Well, let me take a step back a few years first.
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