All Posts Tagged With: "points"
Should Government Set Mortgage Rates?
With all the talk of getting a new mortgage there’s one question which no one seems ready to touch: Why doesn’t the government ought to set mortgage rates? At first this may seem like an audacious idea, a violation somehow of the free market absolutism preferred by so many businesses and industries — at least [...]
26Sep2011 | Peter G. Miller | 0 comments | Continued
Should I Pay More Points For A Lower Mortgage Rate?
The answer most often given no doubt looks at current mortgage rates and while interest is a big part of the answer, it’s not the only cost paid by borrowers. There is also an origination fee and, often, also one or more points. The origination fee is a charge to compensate the lender for his [...]
6Jun2011 | Peter G. Miller | 0 comments | Continued
Despite Wall Street reform mortgage banker profits surge
Despite worries that the Wall Street reform legislation passed last summer would crimp earnings, the Mortgage bankers Association is reporting that profits per loan soared in the third quarter. “Independent mortgage banks and subsidiaries made an average profit of $1,423 on each loan they originated in the third quarter of 2010, up from $917 per [...]
15Dec2010 | Peter G. Miller | 0 comments | Continued
What’s a Hard Money Mortgage?
When we think of mortgages we usually think of long-term financing insured by the FHA, VA or with private mortgage insurance. If we have enough cash for a down payment of at least 20 percent then we don’t need mortgage insurance and can just get a conventional loan. However, there are situations where owners run [...]
12May2010 | Peter G. Miller | 0 comments | Continued
Google Mortgage Ads — Do They Reduce Borrower Costs?
Several months ago Google began offering a new service for advertisers, an ability to post comparison ads. You can see this today with mortgages — just go to: Conventional Mortgages FHA Mortgages Jumbo Mortgages VA Mortgages Go to any of these links and you’ll see that Google generates a search for the type of mortgage [...]
3May2010 | Peter G. Miller | 0 comments | Continued
A Basic Guide To Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th. But for those with real estate the load is made lighter by tax [...]
11Nov2009 | Peter G. Miller | 0 comments | Continued
Interest Rates Rise Suddenly, Say Mortgage Bankers
The Mortgage Bankers association is reporting that mortgage rates moved up sharply during the past week. ___ “The average contract interest rate for 30-year fixed-rate mortgages increased to 5.25 percent from 4.81 percent, with points decreasing to 1.02 from 1.28 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The 44 basis point [...]
3Jun2009 | Peter G. Miller | 0 comments | Continued
2009 Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th. But for those with real estate the load is made lighter by tax [...]
11Mar2009 | Peter G. Miller | 1 comment | Continued
What’s The “APR?”
The Annual Percentage Rate (APR) represents most — but not all — of the costs that will be charged over the projected life of a loan, costs such as interest and points. One catch is that loans do not normally last as long as projected. As an example, when points are paid, they are undervalued [...]
1Sep2008 | Peter G. Miller | 0 comments | Continued
What’s a “bridge” loan?
A “bridge loan” is financing secured by your current home, a home typically listed for sale. The bridge loan is used to finance the purchase of the second home and is paid off when the first home sells. In addition to other questions, when considering a bridge loan seller/borrowers should ask about interest costs, up-front [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
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