This week recap

Well here we are two weeks into 2010. Interest rates are moderating under 5.00% for the A+ borrowers. Both Fannie and Freddie are working on changes to guidelines further tightening the lending restrictions. FHA is also expected to raise the downpayment requirements and most likely the mortgage insurance rates.

If you have a buyer who is thinking of buying before the 8,000 tax credit expires the end of April I would suggest buying soon. The downpayment might go up from 3.5% to 5%. That is significant for first time buyers.

Call or email me anytime and I will pre approve your buyer in a few minutes.

Enjoy the nice weather.

Happy New Year! Tomorrow the changes start.

Well 2009 has been an interesting year. I am always optimistic that rates will remain low, and lending rules will ease up a little from the knee jerk reaction of 2 years ago. It hasn't happened yet but I will continue to hope.

As of tomorrow the new Good Faith Estimate (GFE) will be mandatory. This was created to simplify the lending process and give consumers a way to shop for a mortgage. The old GFE was one page and the new one is 3 pages. To add to the confusion the new 3 page GFE doesn't even have the monthly payment on it. This is going to be a time of trial and error working out the kinks in the new forms.

All of this new paperwork is to prevent buyers from being tricked into a bad mortgage loan. Well the best way to make sure that doesn't happen is to use a lender who is knowledgeable, honest and local. I look forward to a great 2010 helping you and your clients. Thank you for a great 2009.

Bookmark and read daily

I am going to try to post all news on this blog site. So I am going to have a contest. The first 5 people who come into my office and tell me thephrase listed at the end of this post will recieve a prize.

Thank you for your attention.

"Together we will have a successful 2010"

2010 Great Year to come

The new year will be here this week. 2010 is expected to be better than we have seen in the last 5 years. Are you ready? I am ready to help your buyers get their finances in order so they can buy a home when the right one is available.

Happy Holidays

I will be working throughout the holiday so call or email me with any questions or pre approvals.
Thank you for your support and friendship in 2009, I feel like a member of the family here.
2010 is going to be a great year for all of us.

Merry Christmas

Janet Duffy

No Origination Fee

Did you know that you don't have to pay an origination fee? There is always an option to pay no origination fee and no discount points. This can be a great way to save some cash for other moving expenses or down payment. Rates are so good right now that it might be a good option.
The rates that are shown on this site are national average with no origination fee.

Attorney Please

As of January 1st when I do a good faith estimate I will have to fill in the exact attorney fees. This means that I will need to have the attorney and their fees much sooner than you have ever had to give it.
Fortunatley we have a 3 month learning curve before the fines and penalties kick in.
We are formulating a list of attorneys now and their fees so if you have a favorite please let me know soon.