home loans: Things to Keep in Mind When Buying A Home
- 02/10/09 08:12 AM
Many new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. Here are some things to avoid during the home buying process to assure your transaction goes as smoothly as possible: Don't make an expensive purchase. It may be tempting to order that new sofa for your soon-to-be living room, but its best to avoid making major purchases like furniture, cars, appliances, electronic equipment, jewelry, … (0 comments)
home loans: Lake Arrowhead Real Estate- Advice for people Shopping For Home Loans
- 01/28/09 05:55 AM
With interest rates at record lows, all lenders in the US have recently seen a sharp increase in loan applications - right at the time that many lenders have cut headcount to save money in a challenging economy. This means that timeframes needed for underwriting, approvals and closing have become longer than normal. Some companies have chosen to actually raise rates just to slow down the volume to a manageable level.
Sound crazy? No crazier than when you go to buy that hot new vehicle...only to find that there is no price negotiation. In fact, you wind up lucky to just pay … (1 comments)
home loans: Think you have a "Personal Banking Relationship??"
- 10/03/08 12:07 AM
The media is projecting that due to market conditions and changes in the mortgage industry, buyers can't get loans. This is not an accurate assessment of what is happening. It is true that credit guidelines have tightened, but good borrowers... people who should get loans are getting loans with very favorable terms. Because the guidelines have tightened it becomes important for those applying for credit to have an advocate to Sheppard the loan through processing and underwriting to insure a smooth transaction and successful close. Over the last 30 days, I have been involved in several transactions where the borrower was … (1 comments)
home loans: Fannie and Freddie Take Over... What does it Mean
- 09/09/08 01:45 AM
What does the federal takeover of two mortgage finance giants mean to consumers? The government hopes that its plan will bring down mortgage rates by removing doubts about Fannie and Freddie. Treasury Secretary Paulson hopes to make investors feel confident about buying the companies mortgage-backed bonds. Jerry Howard, executive vice president and CEO of the National Association of Home Builders (NAHB), today issued the following statement on the government's plan to place Fannie Mae and Freddie Mac into conservatorship: "While it is unfortunate that we have reached this point, we are hopeful that the government's action on Fannie Mae and Freddie … (0 comments)
home loans: No Downpayment Loan from Arrowhead Home Loans, Inc.
- 05/08/08 05:34 AM
Do you want to buy a home with no down payment? Do you have some cash but do not wish to exhaust all of it to buy a home? How many times have you been pre-qualified only to realize that the mortgage insurance or higher interest rates keep you out of the price range needed to accommodate your family? Rural Development may be able to help! No down payment and no cash reserve requirements help you qualify. Competitive 30 year fixed rates and no monthly mortgage insurance allows you affordable payments. Flexible credit and qualifying ratios can help open up new … (1 comments)
home loans: What is Loan Fraud?
- 03/03/08 09:20 AM
Home Buying and Selling Essentials Common sense tells us that if our credit record is poor we shouldn't expect to obtain a low interest loan with other excellent terms, but attempts to bypass problem credit are resulting in some "creative" paperwork on the part of unethical people who work in the real estate industry. Buyers and sellers can be led into situations where they in fact break the law without even knowing it. Has someone involved with your home buying transaction asked you to make false statements on your loan application or do something else that you feel uneasy about? Don't even think … (7 comments)
home loans: Historical Mortgage Rates
- 02/25/08 12:18 AM
The following chart shows historical information for average mortgage rates by year for the last 35 years. As you can see the current interest rates are among the lowest in history. Now is the time to take advantage of the historically low rates. Imagine what it was like in 1981 with those rates! … (0 comments)
home loans: Proposed Mortgage Changes Could Offer Big Boost
- 02/12/08 01:56 AM
A component of the governments proposed enconomic stimulus package announced Thursday would give an immediate lift to buyers and sellers in higher priced housing markets such as California. The package agreed upon by leaders in both parties in the house would allow government sponsored Fannie Mae and Freddie Mac to buy mortgages 50% more than the existing conforming limit of $417,000. The Senate and the White House must also sign off on the proposal before it becomes effective. The higher cap of $625,000 would likely breath life into the California market by making very affordable mortgage money available. As of today, the … (0 comments)
home loans: Economic Stimulus Package Passes Through the Senate
- 02/11/08 07:55 AM
With an 81 to 16 vote, the Senate passed an amended version of H.R. 5140, a $150 billion plan to jumpstart the economy with temporary tax breaks for consumers and businesses, extended benefits, and most importantly, two provisions designed to assist the housing market. According to CNN, the House is expected to consider and pass the amended bill as early as tonight, which could put the bill on the President's desk as early as Friday. The bill temporarily increased the size of loans that may be purchased by Fannie Mae and Freddie Mac, raising the current level of $417,000 to reportedly up … (0 comments)
Many new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. Here are some things to avoid during the home buying process to assure your transaction goes as smoothly as possible:;)
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