Homes Fort Mill SC

I hope you like roller-coasters. Rates improved earlier today… then they went back up! I really don’t see any relief in sight for rates as the inflation concerns grow, and investors still aren’t exactly excited about the liquidity and stability in the the overall mortgage makret. It is going to take time for people to see the mortgage industry as a solid place to put their cash… until then the road is likely to be a little rocky.

30 Year Avg: 6.500%

100% Programs

GONE. The only way to buy right now without any down payment is with some time of down payment assistance. FHA loans are back in the spotlight!

NEWS FLASH: Fannie Mae and Freddie Mac just cancelled all 97% financing!! That leaves FHA and well… FHA!

STATED INCOME

Agency Stated programs are back!!! We can offer conforming pricing on stated income programs again… the only drawback is 75% max financing. NO DOC loans are no longer available in N.C.

INVESTMENT Programs

PMI companies are no longer offering mortgage insurance for cash-out refinances on non-owner occupied properties. If you own investment property and are looking to get some cash, you are now stuck with 80% loan to value.

What’s HOT??

Stated income refinances. I have been getting asked for these quite a bit lately, so I guess a lot of lenders have stopped offering them. We still offer stated income refinances and the rates are pretty close to our normal rates!

For more

Information is for the Charlotte Metro area which includes Fort Mill, Tega Cay, Lake Wylie areas.

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