A big 7 year bond auction was rated a D today, dropping bonds and pushing rates a little higher. The $600 billion QE -2 comes to an end tomorrow but the FED will likely continue to purchase Treasuries with the proceeds from maturing debt. This could equate to $25B per month and could help keep interest rates near historic lows.
As the highest traffic weekend approaches you can count on me to pre-qualify you prospective buyers. I will be available throughout the holiday weekend. A few minutes on the phone an we will know if a buyer prequalifies. Save Time and Money - Pre-Qualify.
Any of you doing new homes? Our Construction/Perm loan is the best; lower credit scores to qualify and higher loan to values. We will even do a 100% USDA Construction/Permanent loan. Call me for details. Easy builder approval.
Buy a Home-----------Build a Home
Thursday, June 30, 2011
Wednesday, June 22, 2011
4 Financed Property Rule
What's the 4 property rule? Currently if a borrower has 4 financed properties, they cannot get another loan. The number used to be 10, now it's 4! I had 3 customers call this week alone that were blocked out of doing something because of this Fannie Mae/Freddie Mac rule.
In this total of 4, lot loans and commercial loans do not count. A borrower may get a local community bank to ignore the rule but if they are Fannie/Freddie it won't work.
In this total of 4, lot loans and commercial loans do not count. A borrower may get a local community bank to ignore the rule but if they are Fannie/Freddie it won't work.
Thursday, June 16, 2011
Construction/Perm Loans
Union Mortgage has a strong construction/perm loan program. Use it to buy the lot or pay off a lot that you already own. Interest only during construction and lock in a great rate 60 days from getting the CO. Choose any program you like; 30, 20 or 15 yr fixed; 5 or 7 yr ARMS; VA, FHA or USDA. We are totally flexible.
Almost 100 builders approved in just North Carolina.
If your builder is not approved, our process is simple. Send me the contact information and I will get it done.
Almost 100 builders approved in just North Carolina.
If your builder is not approved, our process is simple. Send me the contact information and I will get it done.
Wednesday, June 15, 2011
In House Loans-If It's Too Good To Be True.........
Some local banks offer customers (buyers) in house mortgage loans...are they a good deal...MAYBE. Locally there are tons of people that received in house loans during the explosion of the Real Estate market. But when rates dropped and these borrowers tried to refinance in order to get a lower rate, these same banks refused to budge.
Loans that were Fannie Mae and Freddie Mac owned qualified for refis but the local banks and some credit unions told stressed out borrowers to take a hike.
So before you jump at that good deal, think again. If it sounds too good to be true, it probable is.
Loans that were Fannie Mae and Freddie Mac owned qualified for refis but the local banks and some credit unions told stressed out borrowers to take a hike.
So before you jump at that good deal, think again. If it sounds too good to be true, it probable is.
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