Home Mortgage Loan Rates | Home mortgage loans [NAMABLOG.blogspot.com]
The average U.S. rate on a 30-year fixed mortgage fell this week to a record low for ... The rate on the 30-year loan has been below 4 percent since December. Rate on 30-year mortgage falls to record 3.66 pct.
www.DelawareMortgageLoans.net - Delaware Mortgage Rate Weekly Update for Week of June 4, 2012 from John R. Thomas with Primary Residential Mortgage in Newark, Delaware. Delaware mortgage rates hit all time record lows after Friday's Job Report. Get the whole story and advice on floating or locking your Delaware mortgage rate by watching the video. John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage, Inc. 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office Apply Online at http Free Delaware First Time Home Buyer Seminar - www.DelawareHomeBuyerSeminar.com Free Maryland First Time Home Buyer Seminar - http
mortgagedealstips.blogspot.com Delaware Mortgage Rate Weekly Update June 4 2012.mp4
If you are a first-time homebuyer or a buyer who has had a foreclosure in the past couple of years, you may want to look into a federal home loan mortgage. A federal home loan mortgage or FHA Loan is a loan that is provided by a private lender but insured against default by the Federal Housing Administration. This type of loan has some major advantages over traditional mortgage loans.One advantage that an FHA mortgage has is the more relaxed credit-qualifying guidelines. Because the FHA's mission is to promote home ownership for low to moderate level income level families they can help people get a loan with little or no down payment. Instead of the 10% often required for standard loans a 0%-3% maximum is needed for a federal home loan mortgage.In the past, regardless of your FICO credit score, you could qualify for a FHA mortgage. Although that is still technically the case today, with the recent government Stimulus Package in 2008, a minimum 580 FICO score has become the generally accepted lower limit for loan approval.
The Stimulus Package also raised the maximum loan amounts available significantly on a per county basis. You will need to contact n FHA lender who can tell you the specific maximum amount available in your area.An FHA mortgage generally has very favorable interest rate and is usually lower than a conventional mortgage. Because the loan is guaranteed against default by the federal government, private lenders are more willing to reduce the interest because their risk has lessened. A lower interest rate means you can save thousands of dollars over the life of the loan.Another advantage of an FHA loan is that you can still be eligible if you have had a bankruptcy or foreclosure in your past. Eligibility for a new home mortgage requires that the declared bankruptcy occurred at least 2 years ago, foreclosures must have occurred at least 3 years ago and in both cases your credit since that period of time has been good. Suggest Home Mortgage Loan Rates | Home mortgage loans TopicsQuestion by =SHET EP! =: Are the folks who in the past few yrs. got adjustable rate mortgage loans pissed or what? Best answer for Are the folks who in the past few yrs. got adjustable rate mortgage loans pissed or what?:
Answer by kapn
No.......they expected to make a lot of money on the resale of houses they could not afford.........thats called investment.........the bottom fell out and so did they..........
Answer by Lara
I did about 3 years ago but was smart enough to refinance exactly when the 2 year fixed guarantee was up. I now have a 6.5% IR which is 2% more that the ARM, but the stability was worth it.
Answer by T-man
There is nothing wrong with ARMs, in fact they are often the correct loan to get. Unfortunately, the media has made them seem terrible. And they tend to lump IO loans and Option-ARMs together with fully amortizing ARMs and simply call the whole ball of wax "ARM". You should get a loan to cover what you need and the people who are upset are the ones who didn't plan accordingly. I have 2 properties with fixed rates and 2 with ARMs. I'm not pissed at all.
Answer by b.johne k
no your home is your own personal investment and at any given time most of the time you can change your mortgage pymts just applying for a lower rate
Answer by Landlord
These are the loans they picked for themselves. They might be kicking themselves, but not have anything to be "pissed" about. They all signed up for the loans, it was nothing that was forced on them.
