Mortgage Rates & Information

The Mortgage Bankers Association (MBA) reported that for the week ending on June 12, 2009 a 15.8 percent decrease in national mortgage applications was reflected on their seasonally adjusted index of mortgage applications. These figures are not just a reflection of new purchases, but they include r [Read More]

All you Buyers out there sitting on the fence may want to get pre-qualified now. The rates for 30 year home loans have increased this week making the rates the highest in 7 months. The average rate jumped from 5.29% last week to 5.59% this week. In November of 2008 the rates averaged 5.97%. Freddie [Read More]

Rates Are Going Up!!! A lot of buyers decided to hold off on buying a home hoping that the market would keep crashing and prices would continue to go down assuming they could get a better deal then the deal already in play. Well prices remain the same BUT rates are increasing significantly, enough [Read More]

South Florida was hit pretty hard by the mortgage crisis; Lee County alone showed that 2,450 foreclosures were filed during the month of May in 2008. However, last month showed a decrease in foreclosures of over 550 less than last year. The low prices on the real estate market have sparked a rise [Read More]

More Deatils on th $8,000 Tax Credit After some extensive research I have more details on the $8,000 tax credit. FHA approved lenders have been given the ok to use the tax credit up-front. Now here is how this works. FHA will develop a bridge-loan to cover closing costs and additional down payment [Read More]

As interest rates are starting to climb, buyers should take a look at purchasing soon as the prices are still low, interest rates are still great, and the $8,000 tax credit for first time buyers is still here! First time buyers are defined as people who have not owned a home in the last three year [Read More]

Facts About The $8K Tax Credit Any first time homebuyer who purchase their home after January 1, 2009 and before December 1, 2009 is eligible for the tax credit. In order to be considered a first time homebuyer you must not have owned primary resdience in the past 3 years and the home you are [Read More]

Facts About The $8K Tax Credit Any first time homebuyer who purchase their home after January 1, 2009 and before December 1, 2009 is eligible for the tax credit. In order to be considered a first time homebuyer you must not have owned primary resdience in the past 3 years and the home you are [Read More]

4506-T What is it... A 4506-T is a form that the borrower must sign so that we the broker or the lender can go and request a copy of the tax transcripts which shows exactly how the borrower has filed their past 2 years tax returns. This is basically a precaution that the lenders are taki [Read More]

Good Faith Estimate,  Ethical or Unethical A good faith estimate is a DETAILED breakdown of ALL the costs associated with the closing of your mortgage. It has the broker fees down to taxes and insurance and everything in between. When I give a Good Faith Estimate to my clients I am [Read More]