Loan Bloggers

The Wait is Over.

2010-06-25T11:49:00.000-07:00

It took them a couple of months but it seems the terms for the financial reform is about to come to a close. Yes, it may seem like this isn’t such a big deal, but there are a few things that you, as someone who is looking to purchase a home, should be made aware of.

Have you ever been denied a loan because of your credit score but you didn’t fully understand why? Well worry no longer, once the terms are set you will be able to ask the lender for your credit score and see for yourself what exactly was ‘causing the problem. This will make it a lot easier for you to know what to do so that the next time you will be able to qualify for that special place.

What could be better than that? Well have you looked at rates lately. They’re so low they would be impossible to limbo. These rates were only possible back in the 70s and 50s. Why some people might look at the rates and confuse them with someone’s GPA.

As always, let us know what you think in the comments section below. If you have any questions or want any other insider info, give us a call, or comment below.

Fun in the Sun

2010-06-04T18:37:00.000-07:00

Summertime is here. For many that means one thing; pool parties. Swimming pools are one of the most asked about features from people looking for a home. The question is, should I add a pool to my home to increase its value. According to a survey from the National Association of Realtors in-ground pools on average add a 7.7% value to your home. This rate is nation-wide mind you. Depending on where you live that actually increase can change. In Southwest, pools add 11% on average to the resale value of your home. In the Midwest however, they add only 6%. Bottom line is, yes a pool can add value to your home, but you must consider whether the cost of building one is worth the price increase.

In addition there are many things to consider when you do have a pool in your home. Pool Safety is an issue that is too often ignored by some home owners. Pool safety is especially important when there are kids about. If there are kids it is recommended that at least one person know CPR. Effective CPR provided to a victim of cardiac arrest can double their chances of surviving. Another safety feature is building a fence around the pool to prevent children from accidentally slipping inside the pool. For more information on pool safety you can visit www.poolsafety.gov.

As always, let us know what you think in the comments section below. If you have any questions or want any other insider info, give us a call, or comment below.

What happens next? Your Move.

2010-06-02T18:17:00.000-07:00

Everyone in the mortgage industry is standing still. Waiting to see what is going to happen next. Will the industry double dip? Is a brighter future waiting for us? The latest news that has come out was great news. The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in April, increased 6.0 percent to 110.9, the highest since October. And this proves one thing. He who writes the future is you.

As a home buyer you decide what sales will be like. Are you going to buy a home now, or later? Many people decided to buy new homes in April. Pending home sales in April were up 25% compared to April 09. June has started off by offering low rates as well. The national average for a 30 year low is still below 5%. The question remains. Do you see a home in your future?

There are plenty of good reason to buy a home. As always, let us know what you think in the comments section below. If you have any questions or want any other insider info, give us a call, or comment below.

The numbers are in. New homes are on the rise.

2010-05-28T15:17:00.001-07:00

This Monday we learned about the increase in existing home sales. Well that isn’t the only number to be excited about. The number of new homes sales for April has also increased and a lot more than expected too. New home sales rose 15% bringing the number of expected sales for the year to be 504,000. That’s a 14.8% increase from March.

Industry analyst expected a sales increase, but not one that big. The homebuyers tax credit certainly played a part in these sales. Home sales are expected to drop next month. But that shouldn’t stop you if you’re looking to buy. Remember, even though the federal rebate has expired, you’re not out of incentives just yet. California has its own rebate but it’s in a first come first served basis.

Don’t let another opportunity pass you by. There are still plenty of good reason to buy a home. As always, let us know what you think in the comments section below. If you have any questions or want any other insider info, give us a call, or comment below.

Selling like Pancakes.

2010-05-24T19:22:00.000-07:00

What’s a great way to start of the week? How about hearing some good mortgage news? Well we have some. According to numbers given by the National Association of Realtors in Washington, purchases increased 7.6% last month. That was due in no small part to the $8,000 credit rebate offered by the government. Buyers seemed to have jumped at the chance to get their piece of the action. That brings the annual purchase rate to 5.77 million, which is higher than predicted.

This is all for sales of existing owned homes. So what does this mean to us all? It means that not only is it a great time to buy a house, it’s also a great time to sell a house too. House prices are still low and rates are great right now. If you’ve ever dreamed of owning your own home, it is now even more possible.

Rates are still below 5%. Step 1 is getting pre-approved for a loan, so don’t hesitate in calling your favorite loan specialist. In case you forgot it, it’s the big red number up above. As always, let us know what you think in the comments section below. If you have any questions or want any other insider info, give us a call, or comment below.

Did You See That?

2010-05-19T08:52:00.000-07:00

Have you heard the latest news? Average mortgage rates are falling faster than NBC’s ratings. Rates have dropped lower than the 5 percent, that’s the lowest level since last November. The record low was in March of 09 at 4.61%. I know we’ve been saying this for a while now, but that doesn’t make it any less true, now is the perfect time to buy a home. If the thought has even slightly peeked into your head, it’s time to give it some serious thought.

Interest rates for a 30year loan averaged 4.93 last week, and they’ve only gotten lower. It was the lowest week since mid December. What does this mean? It means if you’re looking into buying a home now with a 30year loan, the most popular loan, you can do so with an interest rate lower than 5%. But these rates aren’t going to stick around all year long. You have to act fast if you want a piece of the action.

All sign are showing a recovering housing market. It’s slow, but it’s improving, and that’s good for everyone. As always, let us know what you think in the comments section below. If you have any questions or want any other insider info, give us a call, or comment below.

Home sales are down and refinances are up.

2010-05-12T19:09:00.000-07:00

We here at loan bloggers think it’s a time to celebrate. We not only can help you get a new home with a super low interest rate, but if you are paying too much interest on your current home mortgage, maybe its time to think about refinancing,

Following the end of the tax credit rebate offered by the federal government house sales fell quickly. But that was expected to happen, what is causing news now is that boost in interest for refinancing. People are realizing how exceptionally low interest rates are now.

Everything is connected. Investors from around the world flocked to the U.S. Treasury securities after the Greek debt crisis. This benefited mortgage borrowers as it caused rates to drop much lower than expected.

As always give us your thoughts below in the comment section. If you have any questions let us know and write away right away.

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Can you spare some change? Yes, you can.

2010-05-07T09:59:00.001-07:00

TGIF. No, I don’t mean Step by Step is on, I mean the weekend is upon us and it’s time for another addition of the Loan Bloggers Tip of the Week. Today we’re going to talk about budgets. Budgeting your expenses could be one of the most useful things you can ever do, unfortunately most of us don’t do it. Now that you may be looking to purchase a home it’s the perfect time to start.

One of the biggest questions people ask themselves when they are looking for a new home is, can I afford this house? The answer to that sometimes can surprise you. After budgeting their money people can sometimes realize that they can afford a much bigger monthly payment than they originally thought. That can mean the difference between living in a house you settle for or living in a home you want.

Don’t let monthly payments scare you off. Sure there will be bills to pay like electricity and water. But owning a home brings plenty of benefits come tax time. If you aren’t sure how to create your own budget, we can definitely show you step by step how to see your life in a number format. We are willing to bet that if you let us teach you this amazing skill you will be able to financially move through life not worrying about your bills to badly.

As always, let us know what you think. Give us a call, E-mail or post your questions in the comments section about this blog or any insider info you may want to know.

Did somebody say change?

2010-05-03T15:20:00.000-07:00

Last Week in Review: Little change came from the Fed's latest meeting. Find out what that means for home loan rates, and also why Greece is still the word!

Forecast for the Week: Two juicy economic reports bookend the week, bringing highly anticipated news on inflation and the labor market.

View: Learn more about Cinco de Mayo and its connection to the United States!

Last Week In Review

They say "the only constant is change...", yet last week's meeting of the Federal Open Market Committee ended without any major changes...no change to the Fed Funds Rate, and no change to the now-famous verbiage in their Policy Statement, stating that rates will remain low for an "extended period" of time. While the Fed does not control home loan rates, what does all this mean for those seeking home financing in the months ahead, want more?

As always, let us know what you think. Give us a call or post your questions, in the comments section, about this blog or any insider info you may want to know.

There’s an App for that! ^-^

2010-04-30T11:41:00.000-07:00

It’s Friday and the weekend is upon us. And we all know what that means. No it’s not party time. Weekends are the perfect opportunity to do things you couldn’t do during the week. Like making time to see some homes, meeting with a loan specialist to get you prequalified, or maybe even calling that total free 800 number, you know the one with free information that you’ve been dying to call.
Not only that but Fridays, here at loan bloggers we will share with you helpful hints that can help you with your mortgage needs. Today’s tip; Apps. Smartphone’s are all the rage these days. And whether you have an iPhone, a Palm Pre, an Android phone, or even a Windows mobile phone, chances are you’ve discovered the magic of apps. Sure you can download the latest games or an app to make silly noises but there are other apps available that can give your phone greater functionality. There are hundreds of helpful apps available out there that can help you find a home, calculate your payments, or even help you decide buy Vs rent.
Of course, even the greatest app can’t replace a specialist, as we have tools specifically designed for us to be accurate. But that doesn’t mean you can’t have your own tools as well.

Do you have any favorite apps? As always, let us know what you think. Give us a call or post your questions, about this blog or any other insider info you may want to know in the comments section.

Extra! Extra! Recession Receding

2010-04-28T12:50:00.000-07:00

Welcome to the Wednesday edition of loan bloggers. What a difference a year makes, or two years for this matter! Signs of the recession ending are popping up everywhere. U.S. consumer confidence rose this month to its highest level since September 2008. More and more people are expecting to jobs to increase and that means more consumers. This isn’t only for the retail side of things either, home sales are increasing as well do to the federal rebate expiring in just a couple of days.

Home prices were on the rise on February for the first time in more than three years. Jim O’Sullivan, chief economist at MG Global Ltd. In New York, “The big plunge is over, but significant strength is unlikely. There is still a huge excess of vacant houses.”

What does this mean for you? It means that there are still homes out their waiting for new owners. That could be you. It’s time to seriously consider being a home owner once again. Not only will it provide you pride of ownership and shelter for your family, but with prices on the rise again, they’re a good investment as well.

As always, let us know what you think. Give us a call or post your questions this or any other insider info you may want to know in the comments section.

Real Estate and Mortgage up up up! Rates still low low low!

2010-04-23T19:14:00.000-07:00

Have you heard the news!? People across the country have realized what a great time it is to purchase a new home and they’re doing something about it. The month of March has surpassed all sales estimates and the Commerce Department has adjusted the annual sales pace to 411,000 homes. March has been a vastly different month February or the rest of winter for that matter. In fact this March has had the biggest monthly increase in 47 years.

Don’t get left behind. The time to buy is here. Rates are still incredibly low. Industry analysts have even indicated that in most cases it might be cheaper to buy a home than to rent. Don’t let this opportunity pass you buy. A 27% sales surge is nothing to scoff at.

As always, let us know what you think. Give us a call or post your questions this or any other insider info you may want to know in the comments section. Buying a new home has never been more exciting.

Do you dare to dream!

2010-04-22T19:00:00.000-07:00

Ah, the American Dream. Some say the American Dream is owning a big house with a white picket fence. A huge backyard for the kids to play in, even enough room for little Rover to run free. Well people, it’s time to stop dreaming and make this dream come true. And there’s no time like the present to make all of this happen.

You’ve heard it all before; foreclosures are at an all-time high and house prices have plummeted. But let me ask you this, Why has the news media only focused on the negative aspect. There is always a silver lining. What this means to you is that now your dream home is more affordable than ever. It’s a buyers market out there. Rates incredibly low right now. As of today the national mortgage rate averages are still in the low low 5’s rates can’t possibly stay this low forever. It’s only a matter of time before they rebound to the 8’s and above; they were in the 10-15 range years ago. Now, add to this the $8000 rebate Uncle Sam is offering and your dream is that much more possible. But this rebate is also soon to expire. This offer ends April 30^th, this year, 2010. That’s less than two weeks away.

So what do you think? Are you planning on making your dream come true any time soon? Head on over to the comments section and let us know what you think or what insider information you want to know.

Pick your loan not your nose!

2010-03-12T21:38:00.000-08:00

Tax credit time is running out you must act fast to get your 8,000 creditor 6,500 for your move up.

With 49 days left till April's 30th deadline, it's time to get In High gear and get off the fence. This could be the last extension of the tax credit. Rates are still low and are not getting any lower, from this point rates are only going to keep increasing. High 4’s for 30 years conventional loan and Low 5’s for 30 years are still possible.

My question to you is what are you waiting for, the news to tell you that everything ok now go out and get a loan at 10%. The main thing is if you want a house go out now!! People are out bidding each other now while rates are low, how did you think people were going to react? The smart money is moving now. This is not new, this has been happening since August of 2009. Ask yourself why the news hasn’t mentioned that bit of info.

Comment and let me know what you think.

To find out more about Flat rate loans Call 1-800-749-8455
Ext: 3333 to speak with a loan strategist on duty.

FHA Loan Qualifying Summary

2009-12-03T16:23:00.000-08:00

FHA loans are the easiest type of real estate mortgage loan to qualify for. The FHA guidelines for loan qualification are the most flexible of all mortgage loans that require less than 5% down payment.
The following is the basic FHA loan qualification guidelines.

· Two Years of steady employment, preferably with same employer.

· Last two years Income should be the same or increasing.

· Credit report should typically have less than two thirty day lates in last two years with a minimum credit score of 620 or higher or in some cases no credit score at all.

·    Bankruptcies must be at least two years old, with perfect credit since discharge.

·    Foreclosures must be at least three years old, with perfect credit since.

·    Your new mortgage payment should be approximately 30% of your gross (before taxes) income.

These are some of the most basic of FHA guidelines for qualifying for a FHA loan. If you have answered yes to most of these statements, you probably qualify for a FHA mortgage loan.

AS OF DECEMBER 2, 2009 THERE IS ONLY 149 DAYS LEFT TILL DEAD LINE OF FIRST TIME HOME BUYERS TAX CREDIT ($8,000 NEW PURCHASE OR $6,500 FOR LONG TIME HOME OWNERS MOVE ) April 30, 2010

To find out more about Flat rate loans Call 1-800-749-8455
Ext: 3333 to speak with a loan strategist on duty.