There is a movement in residential mortgage lending back to mortgage brokerage. The word is getting out that mortgage brokers have access to many different wholesale lenders and can offer wholesale rates and costs. However, I have noticed a trend of loan originators who are calling themselves mortgage brokers, but they are not mortgage brokers....
Tag: #realestate
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BUY NOW, OR WAIT UNTIL LATER?
The loan limits for 2020 are higher than in 2019. If you choose to buy now, you could have more purchasing power than later in the year. You will qualify at the current lower rate, which could result in a higher loan amount than if you waited and rates increased. Contact us and we can...
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BUYING DOWN RATES
Let’s say you are looking to buy a $350,000 home with 20% down for a loan amount of $280,000. You want a 30-year fixed mortgage, and assume the rate is 4.25%; the principal and interest payment would be $1,377.43. If you paid a point, assume the rate would be 3.875% and the payment is $1,316.66....
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PLEDGED ASSETS TO LENDER
Are you considering buying a home and using liquidated monies from stock investment accounts? You may feel conflicted because you want to make a large down payment to get a better interest rate, but do not want to sell the assets in your investment accounts and pay taxes on any gains. By pledging the assets...
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INVESTING: STOCK MARKET OR RENTAL PROPERTY?
Let’s compare the two: The nice thing about stocks is that you simply invest your money in a fund and sit back and watch it, hopefully, grow. Obviously, it is not this easy, as a lot of homework needs to be done up front to make sure you are placing your funds in the right...
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COMMERCIAL REAL ESTATE (CRE) FINANCING & FED POLICY
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC. The Federal Reserve’s recent interest rate cuts have sent a surge of excitement through the commercial real estate (CRE) market. Fed influenced rates have returned to 2018 lows, however, the Fed’s interest rate reductions have little to do with conventional...
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RATE ENVIRONMENT: UP OR DOWN?
Right now, we are in a decreasing interest rate environment. Is there somewhere you can look to determine if interest rates are going up or down? We look to the interest rate on the US 10-year Treasury Note as a leading indicator for mortgage rates. As the 10-year rate goes up, mortgage rates tend to...
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HOMEOWNERS ASSOCIATIONS AND LENDING
Did you know when you apply for a loan there are actually 2 approvals that take place? The lender reviews the file based on your credit and income, and also reviews the collateral. The collateral must be sufficient in order for a loan to be approved. When the collateral is a condominium, there is increased...
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HAPPY VETERANS DAY
We hope everyone is having a great Veterans Day! Thank you to all the men and women who have served in our military to keep us safe and free. Are you a veteran? We support our vets and have many veteran employees. Jim Moore is licensed in Arizona as a Mortgage Loan Originator and an Army...