mortgage: Mortgage Basics - Let’s Talk Value (LTV)!
- 02/08/08 02:06 AM
Hope everyone has been enjoying my mortgage basic tips this week? With all of focus on mortgage rates and if it is the right time to get a new mortgage to buy a house or is it the time to re-finance your current mortgage I feel that the basics can help with your decision. Whatever you may hear in the news, the Indiana housing market is very good. 2008 will be a great year to buy that new home. For folks that enjoy (or have just purchased) it may be the right time to re-finance (I have redone mortgages that … (8 comments)
mortgage: What If You Get a Email From Me
- 02/07/08 08:28 AM
I guess I would call this an open letter to fellow profesionals on AR. I really need your opinon on this one. I have spent a lifetime (28+ years) helping folks find the right financing for high ticket items (like a mortgage). I can count the number of companies I have worked for a a single hand and I feel that I am qualified to solicit business. Now the relationship between real estate agents/brokers and mortgage loan officers tends to be very good or very bad. My style is to make everyone happy and never forget who the customer is. While helping the client get a … (20 comments)
mortgage: Mortgage Basics - What Do You Mean DTI Is Not For My New TV?
- 02/07/08 03:12 AM
STATED OR NOT STATED, that is the question... Remember back in ancient times (2007) when a client did not qualify for a loan due to income it was not a problem. Most investors promoted stated income mortgages. What did that mean? Now I am not making this up. This is how the programs worked and were pushed by Account Executives all over the country. The norm for qualifying ratios is 31/43 (I will get back to this later). Stated loans allowed the client to put down an income without documentation. What this meant is that seniors, on a fixed income like … (0 comments)
mortgage: Mortgage Basics 101 - What's the Deal with Credit Scores?
- 02/06/08 06:43 AM
OK, the search is over! After months of searching for homes and interviewing mortgage brokers you find the perfect deal Now that home you have been planning on buying is in your site. Over the last year you made sure that your paid your bills on time. In fact when you bought that new convertible a year ago the salesman said your scores were over 680! This is good right? Along with that new car you wanted to be sure that your new home looked perfect so you took advantage of all of those credit card offers you got in the … (10 comments)
mortgage: Record Breaking Day! What Time will the 70,000 Member Join?
- 02/05/08 10:03 PM
Hey Rainers! Well it looks like today will be the day. What time do you think the 70,000 member will join? The next question will be when will the 100,000 member join. It is going to be a great year in our business and on this board. Lets go get'em
I am going for 12:35 EST
Tony Grego - Indiana Mortgage Broker … (19 comments)
mortgage: Mortgage Basics 101 - What's Your Rate?
- 02/05/08 01:07 AM
Ever ask a mortgage broker for a rate only to hear the phone go quiet on the other end? Besides the purchase price of your home, you mortgage interest rate is the most important factor determining how much your monthly payments will be. You would think that when you call a mortgage company that they would at least know the rates, right? Well the answer is YES and NO. But what usually happens is something like this: All of a sudden you (the client or real estate agent) gets a barrage of questions from home value, loan amount, job info, … (6 comments)
mortgage: Superbowl Quiz (It's Super Sunday, lets have some fun)
- 02/02/08 10:59 PM
We have had a great week with good news for real estate agents and mortgage brokers. While I do know it is a sale day this Sunday tends to be a little slower than most. So enough learning about business this week and while my little circle of friends will have much more interest in the commercials this year than the game (did I mention I am a avid Colts fan?) lets play a little game....
Super Bowl Trivia The following quiz is multible choice and I will post the answers at the bottom. The prize? When you watching the game tonight … (6 comments)
mortgage: Today in Mortgage News, Groundhogs day, Saturday, February 2, 2008
- 02/02/08 12:13 AM
Tony Grego here from Sagamore Home Mortgage! With my goal to become Central Indiana's #1 Mortgage Blogger this is the bog you will want to bookmark for all the news and updates you'll need to help your business and to be sure you are in the very best mortgage. IT'S GOUNHOGS DAY! So what is the big news coming out of Punxsutawney, PA today? It's Groundhog's Day and while Bill Murray will not be in attendance when Phil pops out The good news is that thousands will be still on hand to cheer Phil. Now for a little bad news, Phil did see … (2 comments)
mortgage: THIS WEEK IN MORTGAGES AND REAL ESTATE
- 02/01/08 05:04 AM
Tony Grego here at Sagamore Home Mortgage. Working to be Central Indiana’s #1 Mortgage Broker Blogger! Home Mortgage Rates Rise this Week I have been posting all week that we have hit bottom and now Freddie Mac reports that Home-Mortgage rates have rose for the first time in five weeks. Why?It is about supply and demand. When demand is low, rates are low. Since the rates have gone up it can mean only one thing. Demand is higher. When demand is high I get to help more folks get a mortgage and you get to help those folks buy a house. … (8 comments)
mortgage: FEDS CUT RATES 1/2 PERCENT
- 01/30/08 06:02 AM
Well it seems that the FEDS just cut another 1/2 percent making prime rate down to 6.0%. the FED move was voted on by a 9 to 1 margin. This is the fifth rate cut since September 18, 2007. In its statement, the Fed said that "sownside risks to growth remain" and pledged to "act in a timely manner as needed to address those risks." Stocks are soaring. We will see how this will trickle down to mortgage rates within the next 24 - 48 hours.
It is going to be a great week to buy and finance a house. Let me know if I … (4 comments)
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