no money down: THE MORTGAGE AND REAL ESTATE BUSINESS IN MICHIGAN - Take what we used to know.....
- 01/25/08 06:27 AM
.....AND THROW IT IN THE TRASH!!! I have been in the mortgage business for 9.5 years now and I feel like a brand new Loan Officer. In the state of Michigan, Fannie Mae has ruled that MOST of our state is considered an area of "declining markets." They say MOST of the state of Michigan is but I haven't ran across a zip code that ISN'T. So the days of No Money Down programs in Michigan in the Conventional Loan world is gone. Yes, the lenders offer them but Fannie Mae is saying that if a home is in an area of … (0 comments)
no money down: Mortgage Market Guide as of Wednesday, January 16, 2008
- 01/16/08 04:04 AM
GOOD WEDNESDAY AFTERNOON! No lack of volatility in the market today! Mortgage bonds opened up relatively flat at -3 basis points and over the last few minutes, they have dropped down to -16 so we may see a little bit of a rate increase. As of this morning's rate sheets, we could've squeezed a 30-year fixed in at 5.50% for purchase transactions over $170k with 5% down. With what's happening as of now, we might see them trickle back up to 5.625%. In other news: This morning's CPI (Consumer Price Index) numbers came in better than expected at 2.4% so this looks like … (0 comments)
no money down: NO Money Down Programs? Do They Still Exist? ABSOLUTELY!
- 10/30/07 02:04 AM
Good Tuesday Morning! Yes, ZERO DOWN programs still exist! Granted, the credit score requirement keeps itching up and guidelines are continously changing......but they do exist! Ask me how I can help you move into a home with very little or NO money down. Mortgage Rates as of today are 6.25% for a 30-year fixed with NO points. Rates have not dropped to these levels in quite a few months so it's a welcomed change. Make it a GREAT day! … (0 comments)
.....AND THROW IT IN THE TRASH!!!;)
;)
