All Posts Tagged With: "adjustable"
Conventional Mortgage Basics
Finding out how much you can borrow with a conventional mortgage to buy or refinance a home is both science and art. The answer will vary according to the lender you chose, underwriting standards, your financial history, the type of loan you seek, the business climate at the time you apply, and the exceptions that [...]
7Dec2009 | Peter G. Miller | 0 comments | Continued
VA Mortgage Basics
Since the end of World War II the US has had an extensive benefits program in place for those with military service. The benefits include healthcare, help with college tuition and home loans. The VA mortgage program is the single best form of real estate financing available because qualified individuals can purchase with nothing down [...]
3Dec2009 | Peter G. Miller | 0 comments | Continued
Inflation, Deflation, Mortgages & Wealth
Freddie Mac’s weekly mortgage rate survey shows that the average 30-year fixed-rate mortgage (FRM) was priced at 5.59% with .7 points. This is a huge jump from last week when the rate stood at 5.29 percent and a vast leap when compared with the rate for the week of May 21st: 4.82%. Higher rates are [...]
12Jun2009 | Peter G. Miller | 0 comments | Continued
Mortage Rates Turn Upside Down
Every week Freddie Mac issues a general survey of mortgage rates and last week’s results were a shocker: Rates for fixed-rate loans were lower than the rates for ARMs. If you’re a borrower the conclusion is obvious: Stay away from ARMs. Here’s why: No Cash Refinancing If you have a fixed-rate loan you have a [...]
27Apr2009 | Peter G. Miller | 0 comments | Continued
Wrong-Way Borrowing Threatens Borrowers, Lenders
Freddie mac figures show that as of September 18, 2008 you could get a 30-year fixed-rate mortgage for 5.78 percent plus .6 points. How low is 5.78 percent? In June, 2003 we saw 5.21 percent plus .5 points — the lowest mortgage rate in 45 years. This would all be encouraging except that it’s difficult [...]
19Sep2008 | Peter G. Miller | 0 comments | Continued
What’s A 5/25 ARM?
An ARM is a loan product with payments and interest rates that adjust at certain intervals. A fixed-rate loan has one interest rate and a set monthly payment for the life of the loan. A 5/25 ARM is a loan product with a fixed rate during its first five years, and then an adjustable rate [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
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