Shopping Secrets
Mortgage Market Update for the Week of 1/11/10
January 11, 2010 by Rob Spring · Leave a Comment
Market Snapshot:
This week, investors and traders are saying that the economy won’t gain as much momentum as they had previously estimated. So for now, low short term finance rates are expected to continue!
The Economic Agenda for this Week:
Tuesday
8:30 - Nov Trade Deficit (-$34.5B frm -$32.9B in Oct)
1:00 - $40B 3 yr note auction
Wednesday
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Mortgage Shopping Secrets! (Part 2 of 2)
December 30, 2009 by Rob Spring · Leave a Comment
Mortgage Shopping Secrets! … PART 2
Once you are satisfied that you are working with a top-quality professional mortgage advisor, here are the rules and secrets you must know to “shop” effectively.
First, IF IT SEEMS TO GOOD TO BE TRUE, IT PROBABLY IS. But you didn’t really need us to tell you that, did you? Mortgage [...]
Why do you charge for credit reports up-front?
December 23, 2009 by Rob Spring · Leave a Comment
Simply put: I don’t want the qualified/closed borrower’s to have to pay for the credit reports of the unqualified or not closed borrowers.
A Credit Report is required for a mortgage and has costs associated with it. Some lenders disclose the cost, other’s don’t – never the less it is a cost of doing business. I [...]
Mortgage Shopping Secrets! (Part 1 of 2)
December 22, 2009 by Rob Spring · Leave a Comment
SHOPPING AROUND?
Here are some secrets most lenders don’t want you to know!
First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that [...]
How To Reduce Your Mortgage
December 22, 2009 by Rob Spring · Leave a Comment
How to Reduce Your Mortgage
One Additional Mortgage Payment a Year
There’s a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan’s principal.
This is the method being used by “Bi-Weekly Mortgage Reduction [...]
Saving Money During the Holidays
December 22, 2009 by Rob Spring · Leave a Comment
Save money during the holidays and buy that dream house in the New Year
The holidays can put a dent in your savings especially if you’re planning to buy a home. But there are several ways to cut costs so your finances aren’t in the red by New Year’s Day. Consider the following money saving [...]
Buying Down Your Interest Rate
December 22, 2009 by Rob Spring · Leave a Comment
Buydown options
A buydown is a type of financing where the buyer or seller pays extra points (also called discount points) to reduce the interest rate on a loan.
Buydowns make it easier to qualify for a loan because they lower a loan’s interest rate. They can also allow you to buy more house for your [...]
The Cost of Refinancing Your Home
December 13, 2009 by Rob Spring · Leave a Comment
What does it cost to refinance? What are the benefits?
Ever heard the old rule of thumb, you should only refinance if your new interest rate is at least two points lower? That may have been true years ago, but with refinancing dropping in cost over the last few years, it’s never the wrong time to [...]
Choosing the Refinancing Option for You
December 13, 2009 by Rob Spring · Leave a Comment
Which refinancing option is best for you?
There aren’t quite as many loan programs as there are borrowers, but it seems like it sometimes! We’ll work with you to qualify you for the best loan program to fit your needs. But there are some general considerations you can have in mind in advance.
Are you refinancing primarily [...]
Speaking with a Mortgage Professional First
December 13, 2009 by Rob Spring · Leave a Comment
Should you talk to a mortgage professional before house hunting?
Absolutely! Even if you haven’t so much as picked out houses to visit yet, it’s important to see your mortgage professional first.
Why? What can we do for you if you haven’t negotiated a price, and don’t know how much you want to borrow?
When we pre-qualify you, [...]