Welcome back to a beautiful Monday morning! Check out this week’s newsletter, which covers timely tax information to help you pass along to your clients. Taxes are a hot topic so pick a quick tip and spread the word. Also, the PCE index, or what I like to call the inflation report, is within the target range of 2% which is good news for mortgage rates. To learn more just read the newsletter below.
Make it a great week!
Although the newsletter is not attached to see the tips simply ask to be a part of the distribution list.
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Monday, March 31, 2008
Friday, March 28, 2008
This week is ending on a high note ...
Happy Friday,
This week is ending on a high note as some reports give way to good mortgage bond news this afternoon. This week Core Personal Consumption Expenditure Index (PCE), which is the number one report to gauge inflation, shows us that inflation is right in line with Fed target rates between 1-2%.
TAKE A LOOK AT THE RATES! Look at the conforming 3, 5, 7 year ARMs which have really low rates! In the low 5%!! These programs do have pre-pays.
This week is ending on a high note as some reports give way to good mortgage bond news this afternoon. This week Core Personal Consumption Expenditure Index (PCE), which is the number one report to gauge inflation, shows us that inflation is right in line with Fed target rates between 1-2%.
TAKE A LOOK AT THE RATES! Look at the conforming 3, 5, 7 year ARMs which have really low rates! In the low 5%!! These programs do have pre-pays.
Wednesday, March 26, 2008
100% financing
Are you tired of your clients hearing NO, NO, NO, I can’t find anyone to qualify me on 100% financing, interest rates are too high, I don’t have enough money for a down payment or closing costs, or I am in a declining or soft real estate market and cannot meet my lender’s new qualifying guidelines?
If you are tired of hearing these objections, then I can help you sell more homes because I can turn these frustrated clients into buyers.
Call me today to discuss the benefits of FHA financing for your clients. I have a privately funded down payment assistance program that has been approved by the FHA to help get families into homes.
This program allows:
Down payment and closing cost assistance to the buyer
Lower interest rates
No declining or soft market policy
Easier to meet with low or no credit scores needed
No asset reserves required
This program is restricted to primary residences only
Full documentation, but also allows non-occupant co-borrowers to help qualify.
The maximum loan amount 500K.
The responsibility of executing this program correctly will be based on the ability of the buyer, seller, and lender all working together to accomplish our goal. I will be more than happy to school all who are involved in the transaction to help accomplish this goal.
If you are tired of hearing these objections, then I can help you sell more homes because I can turn these frustrated clients into buyers.
Call me today to discuss the benefits of FHA financing for your clients. I have a privately funded down payment assistance program that has been approved by the FHA to help get families into homes.
This program allows:
Down payment and closing cost assistance to the buyer
Lower interest rates
No declining or soft market policy
Easier to meet with low or no credit scores needed
No asset reserves required
This program is restricted to primary residences only
Full documentation, but also allows non-occupant co-borrowers to help qualify.
The maximum loan amount 500K.
The responsibility of executing this program correctly will be based on the ability of the buyer, seller, and lender all working together to accomplish our goal. I will be more than happy to school all who are involved in the transaction to help accomplish this goal.
Tuesday, March 25, 2008
The Mortgage Business of 2008 Quick Tips
The mortgage business of 2008 is turning into a wild ride! It's like a never ending adventure that continues to throw a curve balls in my direction. Some of the things I've learned recently.
1. Canadian financing... requires 30% down. No income needs to be verified, no social security number, or credit report. I've got several programs to help with Canadian or foreign national financing.
2. FHA property flipping states that a seller cannot hold title to a property for less than 90 days which includes the purchase agreement dates. Make sure its more than 90 days from when the purchase agreement is signed.
3. 100% financing is still available... ask me how.
4. Most people don't understand the benefits of reverse mortgages. If you are home equity rich and cash flow poor reverse mortgages can make sense.
5. Many banks are moving away from stated income, stated asset loan programs and most have discontinued no document and no ratio programs.
Call Sean La Rue at (760)837-1488 or simply apply at Loan Application
1. Canadian financing... requires 30% down. No income needs to be verified, no social security number, or credit report. I've got several programs to help with Canadian or foreign national financing.
2. FHA property flipping states that a seller cannot hold title to a property for less than 90 days which includes the purchase agreement dates. Make sure its more than 90 days from when the purchase agreement is signed.
3. 100% financing is still available... ask me how.
4. Most people don't understand the benefits of reverse mortgages. If you are home equity rich and cash flow poor reverse mortgages can make sense.
5. Many banks are moving away from stated income, stated asset loan programs and most have discontinued no document and no ratio programs.
Call Sean La Rue at (760)837-1488 or simply apply at Loan Application
Monday, March 24, 2008
Bear Stearns bailout
I hope you had a relaxing Easter weekend. This weeks update covers the news about last weeks Bear Stearns bailout. Ever thought about the Pros and Cons of buying a car versus leasing one? This week’s update covers it all! Also, just in case you didn’t get a chance to read why new mortgage rates go up after a Fed cut see the attached article.
I’d like to address one topic today. Have you ever noticed in the Desert Sun that many of the articles are written by the Associated Press? Ask your clients who wrote the articles they are reading and quoting and ask them if it’s a nationally related article or a local article. You may be surprised!
I’d like to address one topic today. Have you ever noticed in the Desert Sun that many of the articles are written by the Associated Press? Ask your clients who wrote the articles they are reading and quoting and ask them if it’s a nationally related article or a local article. You may be surprised!
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