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Posts tagged as:

Interest Rates

25 Million Lenders And Still Counting For “Best Mortgage Rates” – It’s a Jungle Out There. Who Really Has the Lowest Rates?

February 8, 2010

How does a borrower looking for a mortgage loan find who “really” has the lowest mortgage rates if there are over 25 million pages online screaming that “they” have the best mortgage rates?  
What do I mean?  Type “best mortgage rates” in Google and see what you get.  Today, February 8, 2010, your friendly lenders are saying [...]

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Why You Might NOT Get That Low Advertised Mortgage Rate

February 4, 2010

Okay.  So you’re thinking to yourself, “I called that lender because they advertised rates that were so low, but I didn’t get the rate.”  Why not? The answer is relatively simple though some lenders don’t take the time to thoroughly explain it.  Mortgage rates are low, but only if the borrower “qualifies” for that low [...]

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Getting Ready to Buy Your First Home with an FHA Mortgage Loan

November 21, 2009

Needless to say, there are swarms of people inquiring with lenders right now about buying their first home.  Smart move.  With low rates, low home prices AND a tax credit, it would be foolish to wait – if you qualify and if buying makes sense.
Many of the calls I receive are very similar.  People buying [...]

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Can I Hurry Up and Wait to Refinance?

August 13, 2009

Procrastination is ever so common with borrowers when it comes to their mortgage refinance.  Not only can the delay itself be dooming for the borrower, some lenders are taking 60 days or longer to complete the transaction.  The delay by the borrower combined with the long lender turnaround time means the interest rate might vanish before [...]

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Confused About Your Mortgage Options? 30-Year, 15-Year, Fixed, ARM, FHA..?

July 29, 2009

Are you buying a home for cash?  Meaning no mortgage?  If yes, you are unusual indeed.  Most buyers need a mortgage in order to buy property.  If you do need a mortgage, it’s always good to know some of the basics. 
The most critical decision you will have to make is what type of mortgage is best [...]

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Why Homebuyers Are Taking a Big Risk Waiting for Lower Prices

July 29, 2009

Wanting to lie in wait for near give-away home prices along with a fear of overpaying for property is in the minds of more than a few prospective homebuyers.  
But just like trying to time the bottom of the mortgage market is a lose-lose deal, so is the timing of home prices.

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Do You Want to Take Advantage of Low Rates, But Will Be Moving in 4 to 7 Years?

July 22, 2009

Most borrowers have always been accustomed to getting 30-year fixed mortgage loans. Even when not practical, many still want the 30-year fixed rate.
But for anyone moving/selling within 4 to 7 years, some thought should be given to a more short-term mortgage such as the 5/1 ARM or the 7/1 ARM.
What is the 5/1 ARM?

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FHA Loans NOT Just for 1st Time Homebuyers. Not at All.

June 8, 2009

The rumor that FHA mortgages are only for 1st time homebuyers has circulated for many years.  I have heard it since I first began in the mortgage business many years ago.
Let me confirm:  It is a BAD RUMOR.  Total misinformation.
Anyone can get an FHA mortgage loan – anyone who qualifies of course.  There are no [...]

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Mortgage Shopping “Online” Versus Finding a Local Expert? What To Do?

June 3, 2009

Most will agree that, undeniably,  the Internet is a great source of information about nearly everything.  What can’t you find online?
There are many items I would not (or cannot) buy anywhere else but online.  Things like pricey computer accessories, books, personalized items, car tires (yes, tires), vitamins, and lots more.
But I would not shop for [...]

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Why Mortgage Borrowers Are Often Still on the Losing End After Rate Shopping

May 31, 2009

One of the most frequent complaints we hear from borrowers is about the interest rate “they thought” they could or would get on their new mortgage loan.  This happens more so when borrowers found their mortgage consultant by either (1) calling several lender offices inquiring about mortgage rates, or (2) relying on Internet rates.
If they [...]

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