If you’re thinking about buying a home, or refinancing the mortgage on your current home, you’ve previously been faced with two options;
Prove your income. This means providing W-2 forms, paystubs, or tax returns to the lender to prove that your income is what you say it is. The lender bases all of their decisions on your debt […]
Is Your ARM Broken…Or Is Your ARM Making You Broke? Since the Federal Reserve recently stopped it’s three year crusade to increase the Prime Rate every six weeks, most people with adjustable rate mortgages (ARMs) expected their already high rate to stabilize. Unfortunately, it takes up to 18 months for the indicators linked to some […]
Some Reservations at The Federal Reserve
Almost all major financial analysts are predicting that the Federal Reserve, under Ben Bernanke’s direction, will leave the Fed rate of 5.25% untouched at their meeting today. Now, with the recent reports indicating a downturn in sales of durable goods, plus the continuing drop in new housing starts and home […]
Here’s some more info about where interest rates are headed, and its not good. Even the head of a group that critiques the Federal reserve’s policies thinks rate increases are still coming in the weeks ahead. So if you’re buying a new home or refinancing your current home (especially if you have an ARM), now […]
Well, the latest statements from Ben Bernanke and the Federal Reserve indicate that interest rates are going to continue to be pushed up by the Fed’s ongoing program of bumping the prime rate. Stock prices were down again as Mr. Bernanke said that the economy was in a state of “transition”, and that the Fed was committed […]
If you don’t know you’re Credit Score, or have borderline credit, read this before you go looking for a loan.
The credit score most lenders use to determine whether or not to give you a mortgage, and what rate and terms they’ll offer you if ou do qualify, is a composite of three scores from three […]
The answer to this question is…every time! Unless, of course you have perfect credit, low debt and high income, and a close personal relationship with the branch President at your bank. Then (maybe) they’ll be able to get you better rates and terms than a Licensed Mortgage broker. But you’re still limited to the loan […]
Top 10 Reasons to Buy Your Own Home and Quit Renting
10. You’re paying off your landlord’s property. Every time you make a rent payment, your landlord uses some part of that to pay off the mortgage on the home you’re renting…AND KEEPS THE REST!
9. For most people, their biggest retirement savings is the value in […]
Where do you start to get a great deal…start here, and get the information you need first.