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IT STARTED YESTERDAY
The long awaited rise in mortgage rates that is. In a statement released Jan 27,
Fed confirmed that they will end their mortgage purchase program at the end of
March. Fewer mortgages purchased by Fed = less demand for mortgage bonds
= higher yields (rates) required to attract non-Fed mortgage buyers.
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FHA MORTGAGES ABOUT TO GET MORE EXPENSIVE
Govt. announced this week that they will be increasing the required upfront FHA mortgage insurance premium on new FHA loans effective Apr. 5. The premium rises from 1.75 to 2.25% of the loan amount.......On a $200k loan that's an additional $1000 fee. ........If you're considering a refinance or a home purchase, it's a good time to start the process now before the fee increase goes into effect.........ST 22 Jan
Exact rate quotes are very custom these days. So many variable impact rates (loan/value ratio, credit score, loan size, loan purpose (purchase, refinance, refinance with cash out, whether you have a second mortgage or not)).......for these reasons a one-size-fits-all rate quote does not apply.
Please contact me for a custom, guaranteed quote. All I need is property value and existing mortgage balances for a refinance, and expected purchase price and down payment size for a purchase.
Email me at steve@southwoodmortgage.com I'll send you back the numbers you're looking for (rate, payment, costs) and I won't bombard you with emails after that.
If you're really serious get me a complete application to have on file and I'll add you to the Watch List. You can apply on this site or email me and I'll email you back a one page application form.
And I'm always available by phone 816..942..9800 in the Kansas City area and 888..768..8496 toll free.
Steve Taylor
