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Archive for the ‘Mortgages’ Category

As with our annual health exams, it is important that we all do an annual financial exam and the end of a year is the best time to do it! As 2012 quickly sneaks upon us, now is the right time to take a look at a few financial matters: 1. Review health and dental [...]

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Its no secret that the loan industry has taken a hit. The Subprime Take Down was just the begining in a consequent number of events that have lead to it becoming increasingly more difficult to qualify for a home loan. That translates to an increased number of renters. Renting can be beneficial for some people [...]

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Credit scores range from 300 to 850 and are a buyer’s key to attaining loans – if you need a loan, you need good credit. There three major credit reporting agencies, Experian, TransUnion, and Equifax who use a number of factors to calculate your score. Lets make things simple: A high score is your ticket [...]

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Interest rates are a tricky business. Its kind of like the lottery. Ya win some and ya loose some. When is the right time to lock in a rate when the rates can change daily? Last Monday brought an increase in mortgage interest rates. Rates are sill very low and still below 5% and they [...]

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The Fed Acts Again

Mortgage bond prices whipsawed down and back up following the Fed meeting The Fed Fed leaves rates unchanged and said: Will try to keep rates low for extended period Economic activity continues to pick up Markets roughly unchanged since last meeting Inflation to remain subdued Monitoring balance sheet to make adjustments to credit/liquidity programs as [...]

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I recieved this email on Monday from a local Mortgage Advisor with whom we do a lot of business and I thougt it was very important to share it and pass it along to anyone who may be thinking about buying right now, or who may be in a position where refinancing could really help them out! “Rates have [...]

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As a Seller, Ask for a Pre-Approval letter with any offers With so much turmoil in the lending market, mortgage brokers say sellers should take measures to protect themselves. As real estate agents, we recommend that a seller not do any negotiations on any offers without first recieving a pre-approval letter for the potential buyer. [...]

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Reduce your exposure to risk Once you have selected a mortgage broker or lender, it’s time to start checking out houses. By this time you should know the areas you are wanting to look in to buy a house and your price range. An auto-search can be set up through your real estate agent so [...]

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Get pre-qualified as early as possible There are a couple of reasons for this. First, buyers need to know how much house they can afford and what kind of money they will need for down payment and closing costs. You need to be sure that you are qualified and for how much you are qualified. [...]

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Choose a loan originator wisely Selecting a good mortgage broker or lender is one of the most critical tasks for buyers, since there are currently no national licensing standards in place. In order to find a god lender, usually the best way is the old-fashioned way, by taking referrals from friends and colleagues. Buyers need to [...]

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