4 results for tag: Refinancing


The Party is Over for the Lowest Mortgage Interest Rates

If anybody is in the middle of the mortgage process now, either refinancing or purchasing a home, you are probably aware that the mortgage rates have increased dramatically (i.e. .25-.5%) since mid-April. If you are not aware, then you certainly are not working with me or anybody else who is watching out for your best interests. For everybody else, you will know soon since the newspapers are very good at writing stories about interest rates (either up or down) when it is already "Old News." The "new normal" is likely going to be interest rates in the low to mid 4s for the short term and probably upper 4s by the end of the ...

New Regulations Make Life More Difficult and Expensive But Mortgage Lending Goes On

The Consumer Financial Protection Bureau “(CFPB”) is a new federal agency which is in charge of protecting consumers in financial transaction. Since it was formed in 2011, they have spent a great deal of time investigating and then fining mortgage banks for violations of various lending laws. Unfortunately, the CFPB has spent a lot of time fining banks and mortgage loan originators; this has not really ended up helping consumers.  It also has not hurt the lending business as much as people thought it would. Though, it did result in driving many small mortgage companies out of business which left us only with the larger companies in a ...

It is Possible to Buy a Home Now with Less than Perfect Credit and a Small Down Payment!

There’s a general feeling in the market that in order to get a mortgage now, a person has to have a credit score over 700 credit score; a very high income and a large down payment.  This can be difficult since the economy is still recovering so that high paying jobs are hard to come by. Also, due to the high cost of living, it is hard to save a lot of money in order to buy a house. But none of that is necessary.  So long as you have a job and a little money saved or available to use from some source, you can buy a home! For example, on a Fannie Mae or a Freddie Mac loan you can put down as little as 5%, and on an FHA loan, you can ...

So You Want to Buy a House in 2015 (or Refinance)?

If you are looking at the mild, dry weather this winter and the low interest rates and thinking "We should look into buying a house this year," then this is for you. Likewise, if you have an interest rate above 4.25%; want to change from a 30 year fixed to a 15 year; have PMI on your loan but an increased house value; have an FHA loan with PMI of 1.35%; or want to convert an ARM to a fixed, this is for you too. But, in order to get a new loan, there are a few things that you should know.  Though some of them are "self-evident" and would appear to the untrained eye to be common sense, trust me that they are not. I would say "don't try these at ...