Wednesday, February 28, 2018

Things You Need To Know About This 100% Financing Loan…

Here are some helpful tidbits of information you need to know about the USDA loan program…
If you are looking for a home in the outter suburbs or in a rural area make sure your realtor knows about this great USDA 100% financing program.
Up to 100% of the Appraised Value – Total LTV of 102% –
No Down Payment Required
No Cash Reserve Requirement. No cash contribution requirement
Unlimited seller concessions
Unrestricted gifts, not necessary to document source, no seasoning
First time home buyers allowed, but not limited to first time home buyers
Completed Short Sales are NOT regarded as a foreclosure or negative credit. We will need a clear CAIVRS and an adequate letter of explanation
Collections over 1 year may not need to be paid (cannot be a pattern and depends upon credit score).
Non-traditional credit may substitute for lack of credit history
Repair Escrow financed in loan up to $10,000 or 10% of loan
That’s it for today!
If you know of anyone needing help with a mortgage please consider letting me help them!
Have a good day! …and thanks for reading.
Brett
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Monday, February 26, 2018

Paying A Little Extra On Your Mortgage Each Month Can Save You Tons Of Money!…

You know if you pay just a little bit extra each month on your mortgage payment it can have a huge savings for you.   …and, shave several years off your mortgage.
I created the table below to illustrate the savings.
This is based on a 30 year $100,000 mortgage at 4% interest.
Extra Payment MonthlyYears Saved Off Mortgage
00
505 Years
1008.5 Years
15011.08 Years
20013.08 Years
25014.6 Years
If you would like to see how much an extra payment would effect your mortgage just call me or email me and give me your numbers on your mortgage. …I’ll be happy to help you!
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
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Wednesday, February 21, 2018

Higher Rates Affecting Application Volume…

Mortgage rates creeping up are finally having an affect on application volume.
According to the Market Composite Index mortgage applications feel by 6.6% last week.
If this trend continues it could also lead to a slowing of house value appreciation.
I’ll continue to monitor it for you…
That’s it for today!
Have a good day! …and thanks for reading.
Brett
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Monday, February 19, 2018

Presidents Day Fun Facts For You…

Happy Presidents Day.
Banks are closed today, and alot of mortgage companies are closed today also. …but, I’m ‘a workin’ today!
Here are some fun presidents day facts on Presidents Day…
Did you know George Washington was the only president unanimously elected. Meaning all of the state representatives voted for him?
Did you know John Adams (3rd president) died on the same day as Thomas Jefferson (2nd president), July 4th, 1826? This day was also the 50th anniversary of the approval of the Declaration of Independence!
Did you know Teddy Roosevelt was blind in his left eye due to an injury in a boxing match?
That’s it for today!
If you know of anyone needing help with a mortgage please consider letting me help them!
Have a good day! …and thanks for reading.
Brett
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Monday, February 12, 2018

Mortgage Rates UP…

Don’t know if you have been keeping up with the news the last few weeks, but mortgage rates are up.
They are at their highest levels in three and a half years.
If you have a mortgage in process, and it’s not locked you need to have your loan officer lock it.
There is a CPI due out Wednesday that could affect the bond market, which could in turn move rates.
I’ll let ya know…
That’s it for today!
Have a good day! …and thanks for reading.
Brett
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