Show me the MORTGAGE money!

Want to know which way rates are going.....

Watch the 10 year US Treasury Bond....

US Treasury Bond

Refinancing or Purchasing, Closing Costs are....

a big deterent too mortgage seekers. But, at today's historically low rates it may be a great idea to build the closing costs into the rate and let the lender pick up most of the tab. I just refinanced a past customer at a great rate, and we are crediting $1,900 in closing costs at settlement. Win, Win, Win.

Putting less than 20% down? Think Single Premium MI....

Single Premium MI

With Single Premium MI, homebuyers enjoy monthly payments that are lower than they would be with traditional mortgage insurance, FHA loans or combination loans. A single premium is either paid in full at closing or financed into the loan, and provides coverage until the loan amortizes to 78% of the original value. With Refundable Single Premium MI, any unused portion of the premium can be refunded if the MI cancels within five years.

Mortgage Insurance Simple Answers

Mortgage Insurance Simple Answers

What is Mortgage Insurance?

Mortgage Insurance helps borrowers realize the dream of homeownership sooner by enabling them to purchase a home with less than a 20% down payment. Mortgage insurance provides financial protection for lenders and investors if a homebuyer defaults on a mortgage loan. With this protection, lenders can offer more low-down-payment mortgages to homebuyers.

PMI Companies get back in the game.....

RMIC, a private mortgage insurance company, has just announced new classifications for much of NJ making 95% financing on purchases possible again for most of the state.

This would also apply to rate and term refinances. 

Fannie Mae cracks down on "Walk Aways"

http://www.calculatedriskblog.com/2010/06/fannie-mae-cracks-down-on-walk-aways.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+CalculatedRisk+%28Calculated+Risk%29&utm_content=My+Yahoo

...Youtube Mortgage Tip of the Day...How to be a AAA Home buyer part II...

...Mortgage Shopping Worksheet.....from The Federal Reserve Board...

click on the link...

http://daviddecarlo.com/Mortgage_20_Shopping_20_Worksheet4.html

...Mortgage Tip of the Day...From the Federal Reserve Board..."Looking for the Best Mortgage"..

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage--whether it’s a home purchase, a refinancing, or a home equity loan--is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.Skip to

continue reading...

http://www.federalreserve.gov/pubs/mortgage/mortb_1.htm

...Mortgage Tip of the day...NYT...When Not to Pay Down a Mortgage...

...

By RON LIEBER

Published: March 19, 2010

This week, the Federal Reserve reaffirmed its intention to stop buying mortgage-backed securities, signaling the likelihood that the mortgage rates you can get today are as good as they’re going to be for a long while. Once the Fed stops buying, after all, rates are likely to go up.

And current rates are quite good. At about 5 percent, in fact, they’re so good that they’ve helped change the age-old debate over whether homeowners should make extra mortgage payments to pay off their debt well before their loan periods are up.

Back when rates ran at 7 or 8 percent, making extra payments offered what amounted to a guaranteed return on your money. When you’re ridding yourself of debt that costs you much less, however, it’s easier to imagine a future when you could more easily earn a higher return by investing those potential extra mortgage payments someplace else.

read more... http://www.nytimes.com/2010/03/20/your-money/mortgages/20money.html?em&exprod=myyahoo