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Is An FHA Mortgage Better Than A Conforming One?

July 26, 2011 By Leave a Comment

The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter. “Going FHA” is more common than ever before — but is it better?

Related posts:

  1. 2011 Conforming Loan Limits : No Change From 2010
  2. Why Now’s A Good Time To Consider An Adjustable Rate Mortgage
  3. Mortgage Rates Are Going Up — But Not For The Reason You’d Expect
Filed Under: Buyer Resources, Mortgage Updates Tagged With: , , , , , , ,

What Is Annual Percentage Rate (APR)?

July 18, 2011 By Leave a Comment

More commonly called APR, Annual Percentage Rate is a government-mandated mortgage comparison tool. It measures the total cost of borrowing over the life of a loan into dollars-and-cents.

Related posts:

  1. Simple Real Estate Definitions: Discount Points
  2. Conforming Loan Costs Are Rising, Says Freddie Mac
  3. Like The Fed Funds Rate, The Fed’s Discount Rate Does Not Control Mortgage Rates
Filed Under: Buyer/Seller/Renter Resources, Mortgage Updates Tagged With: , , ,

FHA : Monthly Mortgage Insurance Premiums To Rise April 18, 2011

March 5, 2011 By Leave a Comment

Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points.

Related posts:

  1. FHA Mortgage Insurance Premiums Approved To Triple In Cost
  2. Higher (And Lower) FHA Mortgage Insurance Premiums Start October 4, 2010
  3. Separating FHA Fact From Fiction : Mortgage Insurance Premiums
Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , , , , ,

FHA Loans: Opening Your Doorway to Homeownership in the S.F. Bay Area

January 27, 2011 By Leave a Comment

During the Great Depression, the federal government sought to create a stable platform for economic growth, and that platform was homeownership. Through bolstering the rate of homeownership, the feds felt citizens would be in a better position to give back to the economy.
With that in mind, in 1934, the Federal Housing Authority (FHA) was established. [...]

Related posts:

  1. FHA Home Loans Emerge As A Cheap Alternative For Low-Credit Score Homeowners
  2. An Appetite For Jumbo Loans Returns
  3. How The Recasting of Interest Only Loans Helps With Financial Planning
Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , , , ,

WEEKLY HOT RATES for the week ending 11/9/2010 as provided by Guarantee Mortgage

November 13, 2010 By Leave a Comment

WEEKLY HOT RATES for the week ending 11/9/2010 as provided by Guarantee Mortgage Wow!  How low will rates go this year? This will certainly help buyers get into our pricey S.F. real estate market. 30 Yr Fixed Conforming to $417K     4.000% “1.000″ POINTS     APR = 4.128% 30 Yr Fixed Jumbo to $729,750.          4.250% “1.000″ POINTS     … [Continue Reading]

Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , , ,

Better Credit Scores Get Better Mortgage Rates

November 7, 2010 By Leave a Comment

Mortgage approvals are primarily based on good income, good equity and strong credit, and, without all three, the best rates of the day remain out of reach. Do something about your credit score.

Related posts:

  1. Better Credit Scores Get Better Mortgage Rates
  2. See How Credit Missteps Lower Your Credit Score
  3. Basic Credit Scoring Tips For A Better Mortgage Rate
Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , , ,

Time To Refinance? Mortgage Rates Down 1.00 Percent Since April

October 22, 2010 By Leave a Comment

The rate-and-fee combination you’d get in your home state is different from the rate-and-fee combination you’d get if you lived somewhere else. In the West, rates are low and fees are high; in the Southeast, it’s the opposite.

Related posts:

  1. Mortgage Rates Make New Lows For The 9th Week In A Row
  2. What’s Ahead For Mortgage Rates This Week : April 27, 2009
  3. Don’t Rush To Refinance That ARM — It May Be Adjusting To 3 Percent Or Lower
Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , , ,

WEEKLY HOT RATES for the week of 8/11/2010 as provided by Guarantee Mortgage

August 13, 2010 By Leave a Comment
Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , , , ,

Nervous About Mortgage Rates Rising? Lock Thursday — Ahead Of Friday’s Jobs Report

August 5, 2010 By Leave a Comment

Analysts expect that a net 65,000 jobs were lost in July. Wall Street — and Main Street — have a big interest in those results.

Friday’s July Jobs Report Could Spur Mortgage Rates Higher

Related posts:

  1. Tying Friday’s Jobs Report To Rising Mortgage Rates
  2. Good Friday + Jobs Report Data = Major Mortgage Rates Movement
  3. The January 2010 Jobs Report May Lead Mortgage Rates And Home Prices Higher
Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , ,

WEEKLY HOT RATES for the week of 7/28/2010 as provided by Guarantee Mortgage

July 29, 2010 By Leave a Comment

WEEKLY HOT RATES for the week of 7/28/2010 as provided by Guarantee Mortgage Wow!  I’ve never seen rates this low.  It’s nice to see jumbo loan rates have come down as well. Did you think rates would ever go below 5%? 30 Yr Fixed Conforming to $417K 4.125% 1.000″ POINTS APR = 4.225% 30 Yr… [Continue Reading]

Filed Under: Mortgage Updates, Real Estate Market Updates & Reports Tagged With: , , , , ,

West Portal, S.F. Market Trends as of July 23, 2010

July 23, 2010 By Leave a Comment

West Portal, SF, CA Market Trends as of July 23, 2010 If you have a West Portal home that you are thinking about selling now may be the perfect time.  There is solid buyer demand, the properties that are well priced & show well are receiving multiple offers and inventory is really low (a balanced… [Continue Reading]

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WEEKLY HOT RATES for the week of 7/22/2010 as provided by Guarantee Mortgage

July 22, 2010 By Leave a Comment
Money

WEEKLY HOT RATES for the week of 7/22/2010 as provided by Guarantee Mortgage Wow!  These low interest rates should help get into our pricey S.F. real estate market. 30 Yr Fixed Conforming to $417K 4.250% “1.000″ POINTS APR = 4.435% 30 Yr Fixed Jumbo to $729,750. 4.375% “1.000″ POINTS APR= 4.568% 30 Year Fixed Jumbo… [Continue Reading]

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Yes, You Can Still Get A Mortgage If You’re Pregnant

July 21, 2010 By Leave a Comment

The New York Times ran an important story this week concerning pregnancy and mortgage approvals. Titled “Need a Mortgage? Don’t Get Pregnant”, the article discussed the difficulties that expecting and recently-expanded families are having with their mortgage financing.

Related posts:

  1. Your Mortgage Approval Isn’t Final Until It’s Funded
  2. How Today’s Employment Data Is Hurting Mortgage Rates
  3. The New Conforming Mortgage Guidelines, Effective September 1, 2009
Filed Under: Mortgage Updates Tagged With: , , , , ,

Sagging Homebuilder Confidence Opens The Door For Good Deals

July 20, 2010 By Leave a Comment

Remember, it wasn’t too long ago that most builders were flush with home inventory, unable to find willing buyers. To help move product at that time, builders dropped prices and offered incentives including free upgrades. If confidence continues to sag going forward, home purchase deals of that nature may return — especially as the foreclosure market gets larger.

Related posts:

  1. The Housing Market Index Reaches A 16-Month High
  2. Home Supplies Plummet, Putting Pressure On Home Prices To Rise
  3. Housing Starts Make Its Largest Leap Since 2004
Filed Under: Mortgage Updates Tagged With: , , , ,

The Fed’s June Minutes Keep Mortgage Rates In Rally-Mode

July 16, 2010 By Leave a Comment

At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed’s words are doing wonders for mortgage rates.

Related posts:

  1. The Fed’s April Minutes Push Mortgage Rates Even Lower
  2. How The “Fed Minutes” Can Change Mortgage Rates And Home Affordability
  3. Mortgage Rates Spike On The Federal Reserve’s January 2010 Meeting Minutes
Filed Under: Mortgage Updates Tagged With: , ,
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