If your mortgage is set to adjust this year, the smart move may be to let it. Today’s conforming mortgages are adjusting lower than ever before — as low as 3 percent. It may not be what you expected when you signed for your ARM several years [...]
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The Fed Purchase Program is ending in March and the MBS (mortgage backed securities) market will be an open canvas to new investors. At the moment, the Fed is 92% complete with their program, and when they back out of it, this is going to attract investors that are going to require more yield. Well more [...] If you are vacating a residence that will remain occupied by the co-borrower, he/she is required to obtain a NEW FHA mortgage loan. Acceptable situations are: 1.) Instances of divorce, after which the vacating spouse will buy a new home, or - An Identity-of-Interest transaction is where a sales transaction is made between parties with family/business relationships. To break it down very simply, and this is USUALLY always the case, when a family member sells to ANOTHER family member, FHA looks at that as an Identity-of-Interest Transaction. I get at least 1-2 calls per month with this scenario, and [...] Call Us NOW to get a LOWER RATE. By Amy Hoak, MarketWatch CHICAGO (MarketWatch) — Lured by low mortgage rates, many homeowners have been rushing to refinance. Interest is gaining for good reason: Eligible borrowers can lock in rates that haven’t been this attractive in decades. “With interest rates hovering around 5% for conforming loan amounts, homeowners should [...] With mortgage rates taking a tumble over the last few days, loan officers with customers who have an FHA insured mortgage have been calling frantically to get them locked in at a lower rate. What is an FHA streamline? FHA Streamline refinance is a program designed to give borrowers who already have an FHA insured mortgage the [...] |
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