Rates are Creeping Up
It’s been known for quite awhile that interest rates are being artificially held down by the fed and the government’s action, which has led to great opportunity for first time home buyers as well as anyone buying or refinancing a home. With that said, many believe they will not stay down forever and over the [...]
5 Things Loan Officers Don’t Do & 5 Things they Do
Most people know what loan officers do; get you a loan for a mortgage, but few know what loan officers don’t do. The following are five things that loan officers do not do that are handled by others. Negotiate contracts Show properties Appraise properties Find Properties Inspect Houses Here are five things that loan officers [...]
Property Issues are Starting to be a Problem
If you have been in and around the real estate industry for very long you will remember the time when everyone hated dealing with FHA and the appraisal process that was involved in getting this type of loan. Then several years ago FHA changed and the appraisal process was just about the same as a [...]
Rates have Fallen!
With the advent of the Federal Reserve holding down the Fed rate and their announcement to purchase a large group of toxic mortgage securities, the current interest rates for conventional and FHA loans are below the 5% mark. That is very good news for people who want to refinance or buy new. In fact if [...]
Why So Many People Don’t Qualify Right Now
I just talked to a couple of other people in the mortgage business around the country and they are experiencing the same thing lenders are experiencing here in Middle Tennessee; many people no longer qualify for a loan. I have taken refinance questions and applications over the last few months and there are people who [...]
Is This Another Refinance Boom?
All of a sudden the holidays are over and everyone is looking to refinance their homes. It does look like another refinance boom and there are plenty of companies that are soliciting clients through the mail. I’ve had several people call me just this past weekend about letters they have received. Both of these families [...]
Rates are Down but Some Borrowing Still Tough
This past week has been a rough one for some of the people I have talked to, all of who have multiple houses and are paying their bills and mortgages on time. The issues have to do with being self employed and not showing enough income on taxes and wanting to refinance a second home [...]
FHA Loans is Once Again a Winner
Not long ago, loan officers were laughed at if they recommended their clients go with a FHA loan. Most Realtors and customers alike were under the impression that a FHA loan was harder to close and harder to get an appraisal approved. Though that was true at one time, over the last three to five [...]
Will Rates Continue to Go Down?
The holiday season is always a fun time. You get to go to everybody’s parties and see old friends and catch up with people you haven’t been around in a while. It’s no difference in the mortgage and real estate industry and this last week has been fun. One of the biggest topics of discussion [...]
Why Rates Came Down
A few weeks ago Fannie Mae released its first earnings report since the federal takeover. To say the least, it wasn’t good. The media used words like dismal and gruesome. The reason was Fannie Mae had the largest loss of any U.S. based company this year and yes; this was AFTER the federal takeover. So [...]
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