Homes Fort Mill SC

Loan officer Olan Carder with American Security Mortgage sent out a video today to real estate agents with a couple mortgage tips or recommendations. Here is recap of Olan’s message…

Olan’s first message is about potential home buyers. If you are waiting for the new year to make a home purchase decision or closing, you may want to know mortgage rates are inching up slightly. Olan sees momentum in the bond market to move rates up in the future. So you may want to consider locking in a rate now in case there a chance rates go higher the first of the year.

Another mortgage tip is about mortgage tax deduction if you closed on a home this year. (more…)

FHA has reduced the UFMIP and increased the annual MIP… what does this mean for your buyers? Is conventional the king again or is FHA still the best way to go for most first time buyers? See my Fort Mill Mortgage video update for Oct 2010.

http://youtu.be/c-JRCg4Ymtg

I meet with Liz Ciardi,  Home Mortgage Consultant with Wells Fargo Home Mortgage, this past week . She past on timely information about the Home Buyer Tax Credit that expires in April. The following is a summary of the Wells Fargo Home Mortgage Tax Credit information brochure:

Seize This Opportunity

Little time remains for you to take advantage of the Federal Home Buyer Tax Credit. Along with high affordability and low mortgage rates, tax incentives make now a great time for first-time and repeat buyers to purchase real estate. It also presents a good opportunity for sellers. Now is the time to make sure your home appeals to motivated buyers. (more…)

Rates are at record lows, but do you qualify for those rates?

If you haven’t heard about these record low mortgage rates in Tega Cay, you might want to check into having the internet hooked up to that rock you’ve been living under.  The news is everywhere that mortgage rates are super low, but the real question is, “Can you qualify for them?”

It really doesn’t matter how great something is if you can’t get your hands on it.  That is one of the reasons why record low rates have not magically lifted this economy back to health.  Many people haven’t been able to refinance into a better situation because they can’t qualify.  Let’s take a look at why… (more…)

It does not look like mortgage rates are going to fall much below current record lows as lenders become flooded with refinances.

The Federal Reserve has been on a mission to get long term interest rates lower in order to help spur the economy.  One of the biggest areas of focus has been mortgage rates, with a promise of $500 Billion to purchase mortgage bonds.  This promise was just raised to $1.25 Trillion for 2009 alone!

One would think that with the Fed buying $1.25 Trillion worth of mortgages this year that rates might fall even lower than the already record lows,  (more…)

Have you ever wondered what a “good” credit score looks like?

Read below to find out…

A “good” credit score is a very relative term because “good” means different things to different people.  I know mortgages, so although I have an idea of what a auto lender might think is a “good” score, I can tell you for sure what it takes to get a mortgage!

The current minimum score for most home loans is (more…)

Rates improved today after a sharp decline in stocks!

PRICING EXAMPLE:
I was able to lock in a customer today at 4.875% on a 30 year fixed mortgage.  The loan amount was $275,000 and it was a purchase loan for their primary residence.  They put 20% down and had a 746 credit score.  The APR was 5.023% and the origination fee was .875%.

The good news in this crazy market is that mortgage (more…)

The time of waiting for the “bottom” is past… now is the time to buy Real Estate!!

There has been a time for people with money to spend to sit on the sidelines and wait out the proverbial “storm” in the market.  Whether stocks or real estate the values have been in free-fall mode, and buying just didn’t make a ton of sense.  I believe that time is over and here’s why… (more…)