Charlotte Mortgage Lenders Are NOT Out Of Money!
There are plenty of mortgage lenders in Charlotte still making new loans!
The sky is falling. I just got hit in the head with a piece a few minutes ago! Just kidding but based on the public reaction lately its hard not to think I fell asleep a couple weeks ago and can’t wake up from the nightmare. I have clients calling daily now asking, “Are we still closing next week? Do you still have money to lend??” WOW, people are scared and rightfully so, because if you have a television set you can’t help but hear how awful the credit markets are and how banks aren’t lending money.
>>>>>>>>>ENTER REALITY
Mortgage lenders are lending money left and right in Charlotte, NC! I am not saying we don’t need the Bail-Out. I am Pro-Paulson Plan. I think things are tight and our banking system is in tatters, but there are still plenty of lenders that have money to lend for mortgage loans. Fannie and Freddie are still doing there thing, and there really haven’t been any huge changes to getting a mortgage in the last few weeks.
Right now you can still get….
FHA loans upto $303,750 with only 3% down payment, VA loans for veterans with zero down upto $417,000, conventional loans upto $417,000 with as low as 3% down, and USDA loans with zero down!!! 30 Year Rates are running at or below 6.00%! Rates are low and money is flowing in Charlotte, NC. If you are considering buying a home, DO NOT WAIT. Don’t be afraid to move forward because of the talking heads on TV! If banks will loan you the money to buy a house with a low rate fixed for 30 years, do you really care if they are making money?? Trust me there will always be someone to collect your monthly payment.
For more details contact…
Olan Carder Myers Park Mortgage Direct: 980-721-7478 olan@myersparkmortgage.com www.mycharlottelender.comOlan Carder contributes articles to Homesfortmill.com on a regular basis. He works in the Charlotte NC metro market which includes Fort Mill, Tega Cay, Lake Wylie SC,
Olan has recently started his own mortgage blog. If you are looking for more mortgage tips and information, check out his new blog at http://charlottemortgageonline.com/.
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October 8th, 2008 at 9:16 am
With the market continuing to fall and the fed cutting another half a point on short term interest what will happen to mortgage rates?
October 8th, 2008 at 3:08 pm
David,
Thanks for your question. I believe that rates are going to drop HARD at some point, but they haven’t yet. Already today, we have had 2 re-prices to the worse and the mortgage bond market has been suffering lately just like the stock market. People with big bucks have pretty much decided to buy US treasuries until they feel safe to put money anywhere else. I think the mortgage bonds will be the first thing to pop, but no one knows for sure.
March 11th, 2009 at 3:36 am
The economy has such a huge affect on the decision.