Category: Mortgages

HUD Announces Policy Changes for FHA Mortgage Loans
March 1, 2012

February 27, 2012 HUD No. 12-037 WASHINGTON – "As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante today announced a new premium structure for FHA-insured single family mortgage ...
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Mortgage Interest Rate at 50 Year Low
August 20, 2011

Mortgage Interest Rates Down
On August 18, 2011, FREDDIE MAC  announced that the 30 year fixed mortgage interest rate averaged 4.15%(with 0 .7 points), down from 4.32% the previous week and breaking the previous low of 4.17% set on November 11, 2010. The 15 year fixed mortgage interest rate averaged 3.36%( with 0.6 points), as compared to 3.50% ...
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The Impact of Mortgage Interest Rates!
May 21, 2011

Mortgage Interest Rates
Should Buyers Pay More Attention to Mortgage Interest Rates or Timing the Home Purchase When Home Market Values Hit Bottom? The Dilemma: Buy Now or Wait? Home buyers are searching for the answer.  Many buyers are looking at homes week after week. They see home prices below price levels of last year, and much below the values ...
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Mortgage Interest Rates: First Quarter 2011
April 2, 2011

After increasing to over 5% in late December of 2010, mortgage interest rates ranged from 4.75% and slightly above 5% throughout the first quarter of 2011. Image courtesy of BankRate.com. Whether buying or selling a home in Iselin, New Jersey or Colonia or Edison, in Middlesex County or in  any other State, the movement ...
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More Mortgage Basics For Home Buyers
April 1, 2011

Know Your Limits A home buyer needs to know their financial limits. A home buyer needs to know how much of a mortgage payment they can qualify for based on their income, but more importantly, they need to also know how much they are willing to pay per month in a ...
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Mortgage Basics for First Time Home Buyers
March 13, 2011

Whether looking to buy a home in Iselin, New Jersey,  in Colonia, in Edison, in Middlesex County or any other State, a home buyer needs to understand mortgage loans, mortgage qualifying, mortgage payment affordabilty and the mortgage application process. The reason for this is very basic: most all buyers need ...
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Changes in FHA Mortgage Loans Coming April 18, 2011
February 16, 2011

FHA Loans Will Cost More After April 18, 2011 The FHA Mortgage Insurance Premium (MIP) will increase 25 Basis Points Just the other day, FHA Commissioner David H Stevens announced changes for FHA Mortgage Loans. These changes are for any FHA loans that are assigned case numbers on or after April 18, ...
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Mortgage Rate Update
February 11, 2011

Let's Talk About Mortgage Interest Rates Again! Mortgage Interest Rates Well, interest rates increased to over 5% in December, 2010. Then they retreated to a little under 5% in January, 2011. Now, they are moving back up above 5% again. Refresh your memory with a review from my January 10th post. First of ...
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Mortgage Interest Rate Surprise?
January 10, 2011

Interest rates have been surprisingly low for such a long time, no one really thought they would go up. Well, they did, and everyone was caught off guard. In fact, at the end of December, mortgage interest rates increased to 5%. and slighly higher. A surprise to most people involved with real estate! The Good News ...
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Mortgage Pre-Approval versus Mortgage Pre-Qualification
February 9, 2009

Is there a difference between a Mortgage Pre-Qualification letter and a Mortgage Pre-Approval letter? Considering taking advantage of the favorable mortgage interest rates? Considering taking advantage of the drop in real estate prices in 2009? Before taking the time to drive around looking for a home, before taking the time to visit ...
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