Is An FHA Mortgage Better Than A Conforming One?

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? The answer — like most things … [Read more...]

What Is Annual Percentage Rate (APR)?

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. A loan’s APR is printed in the top-left corner of the Federal Truth-In-Lending Disclosure, as shown above. … [Read more...]

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

For the third time in 12 months, the FHA is changing its mortgage insurance costs. Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points. The change will add $250 to an FHA-insured homeowner’s annual … [Read more...]

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

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 … [Read more...]

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

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 … [Read more...]

Better Credit Scores Get Better Mortgage Rates

This week marks the start of the Refi Boom’s 7th month ; rates have been falling since early-April 2010. Whether you’re looking to refinance or buy a home, however, know that not everyone will qualify for today’s low rates. Mortgage approvals are primarily based on good income, good equity … [Read more...]

Time To Refinance? Mortgage Rates Down 1.00 Percent Since April

30-year fixed mortgage rates rose last week, marking the first time in a month that rates failed to fall week-to-week. The data sources from Freddie Mac, one of the government’s major mortgage securitizers and a sister entity to Fannie Mae. Each week, Freddie Mac collects mortgage rate data … [Read more...]

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

WEEKLY HOT RATES for the week of 8/11/2010 as provided by Guarantee Mortgage 30 Yr Fixed Conforming to $417K 4.000% "1.000" POINTS            APR =    4.225% 30 Yr Fixed Jumbo to $729,750. 4.250% "1.000" POINTS            APR =    4.568% 30 Year Fixed … [Read more...]

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

Mortgage rates have been falling since April but that momentum could reverse tomorrow. The Bureau of Labor Statistics releases the July jobs report at 8:30 A.M. ET Friday. With a stronger-than-expected reading, mortgage rates should rise, harming home affordability. Jobs are a keystone in … [Read more...]

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

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 = … [Read more...]

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

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 … [Read more...]

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

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= … [Read more...]

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

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. NBC’s The Today … [Read more...]

Sagging Homebuilder Confidence Opens The Door For Good Deals

Builder confidence in the housing market slipped this month, according to the National Association of Homebuilders’ monthly Housing Market Index. The Housing Market Index is actually a weighted composite of 3 separate surveys. One measures current single-family sales; one measures projected … [Read more...]

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

According to Freddie Mac, mortgage rates made new all-time lows this week and the good news is that rates look poised to fall even more. Since the Federal Reserve’s release of its June 2010 meeting minutes Wednesday, mortgage rates are dipping even more and one of the main reasons why is … [Read more...]

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