Mortgage Rates & Information

100% Financing Let's talk about 100% Financing again for those of you that are not familiar with the program. USDA Rural Development has an EXCELLENT program! They will allow you to finance 102% of your mortgage. The best part it's not 102% of the purchase price but 102% of the appraised v [Read More]

USDA vs. FHA vs. Conventional USDA is up to 102% Financing of the APPRAISED Value of the home NOT the purchase price! There is a 2% up front Funding Fee that they charge but even though you are over 80% loan to value they do not charge a monthly mortgage insurance premium (PMI).You can only financ [Read More]

Renting vs. Buying: Now lets talk about renting vs. buying. Renting, you can rent a nice single family 3 bedroom 2 bath home with a 2 car garage for anywhere between $800.00 to $1200.00 a month. Not bad at all only thing is that after 5, 15, 30 years that house is still NOT yours, you ma [Read More]

$8,000 Tax Credit NOW! I'm sure all of you have heard something about the $8,000.00 Tax Credit for first time homebuyers that purchase a home by December 2009. It's called the "American Recovery and Reinvestment Act of 2009 Tax Credit"  Well there is a company that will buy [Read More]

Daily Mortgage News Let's talk about 100% Financing. YES it is still out there and better then ever. USDA is a rural development program set out to help people buy a home. There are income guidelines based on the size of your family and it is only available in Rural areas to help develop commu [Read More]

30-year mortgage rates are creeping up! Don't get me wrong, they are still low and they are still attractive, but they are on the rise. According to Freddie Mac, the average rates on a 30-year mortgage rose up to 4.87% from 4.78% last week; for a 15-year fixed-rate mortgage the rates rose to 4. [Read More]

Daily Mortgage News FHA has even more defaults in the last month. 22% Increase since last January to be exact. This is a bad sign that our ecenomoy is still not turning around as we would like and what we have to do is keep trying, if you can pay your mortgage pay it. FHA actually insures lenders [Read More]

Daily Mortgage News The employees of AIG have decided that they will give back their bonuses this year. Aig is expecting back $80 Million which is actually only 1/2 of the $165 Million they actually handed out. A lot of AIG's executives have actually already given back the bonuses. I thin [Read More]

Daily Mortgage News Countrywide is being sued by AIG! They are being sued for misrepresenting the quality of their loans. They had many loans with fake credit scores, missing paperwork and Countrywide didn't even follow their own guidelines for underwriting that were insured by AIG. Countrywid [Read More]

Daily Mortgage News The government is trying to help get us out of this hole but if they agree to refinance us, you into a better lower payment and rate then WHY are people still not paying their mortgage??? Right now FHA has a big number of borrowers and i mean BIG that haven't even made thei [Read More]