General Mortgage Information
ITips: Negative ARMs may not be for everyone, especially in our current market. Negative arms can ultimately
cause a home to be worth less than what is owed. Refinancing or selling out of a neg arm can be difficult
and costly for a home owner. Interest only loans can be questionable, however getting educated in any loan
and all of the details is the answer. KNOW WHAT YOU ARE GETTING, BOTTOM LINE!
ITips: Negative ARMs may not be for everyone, especially in our current market. Negative arms can ultimately
cause a home to be worth less than what is owed. Refinancing or selling out of a neg arm can be difficult
and costly for a home owner. Interest only loans can be questionable, however getting educated in any loan
and all of the details is the answer. KNOW WHAT YOU ARE GETTING, BOTTOM LINE!
Mortgage Statistics
March 16, 2007 -- "Concerns about the availability of financing for impaired-credit borrowers
continued to roil the subprime mortgage markets this week. We're also seeing expanding
worries about wider-ranging fallout from the combination of tighter mortgage credit and rising
foreclosures and delinquencies. Pricing for good-credit quality applicants remains comfortable,
though, and the average 30-year fixed rate mortgage (FRM) eased a single basis point this week,
closing the nation's deepest survey of mortgage rates and terms at an average 6.26%. Hybrid
five-one ARMs rose by three basis points to 6.03% for the week in the HSH survey."
Mortgage Statistics
March 16, 2007 -- "Concerns about the availability of financing for impaired-credit borrowers
continued to roil the subprime mortgage markets this week. We're also seeing expanding
worries about wider-ranging fallout from the combination of tighter mortgage credit and rising
foreclosures and delinquencies. Pricing for good-credit quality applicants remains comfortable,
though, and the average 30-year fixed rate mortgage (FRM) eased a single basis point this week,
closing the nation's deepest survey of mortgage rates and terms at an average 6.26%. Hybrid
five-one ARMs rose by three basis points to 6.03% for the week in the HSH survey."
Mortgage Statistics
Mortgage Application Process
Applying for a home loan appears to be easy and really can be if prepared. In general, lenders
want to see 2 years of bank statements, 2 years tax returns, current w-2, 2-4 months worth of
current paystubs, assets, debts, child support received/paid, and bankruptcy papers if any.
There are exceptions to every rule, however most lenders want to see a 2 year work history or
better with the same company. If you have any questions about the application process, please
feel free to call me today at 559-816-6532.
Applying for a home loan appears to be easy and really can be if prepared. In general, lenders
want to see 2 years of bank statements, 2 years tax returns, current w-2, 2-4 months worth of
current paystubs, assets, debts, child support received/paid, and bankruptcy papers if any.
There are exceptions to every rule, however most lenders want to see a 2 year work history or
better with the same company. If you have any questions about the application process, please
feel free to call me today at 559-816-6532.
| Brenda Singletary |
| 559.816.6532 |
| brsingletary@yahoo.com |
MORTGAGE INFO
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