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Mortgage Rate Predictions

Sep 19, 2014 10:12AM PDT

Rate Update 9/19/2014 : No market-moving data out today, and yesterday turned out to be uneventful. That was odd, considering Wednesday brought an FOMC meeting announcement, and plenty of data could have inspired some market movement. Rates rose slightly by the end of the day. For now, we can only assume rates will remain static. Bookmark this page for daily mortgage interest rates and market updates.30 year (FRM) rates at 4.26% (+0.01).15 year (FRM) rates at 3.41% (+0.01).FHA 30 year Fixed rates at 3.75% (0.00).Jumbo 30 year Fixed rates at 4.11% (+0.01).5/1 ARM rates at 3.24% (-0.01). More

Displaying rates for Mortgage Refinance in VA for $200,000

4.306%

APR
30 Year Fixed
4.250% Rate $984/mo
  • Updated September 19, 2014
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4.165%

APR
30 Year Fixed
4.000% Rate $955/mo
  • Updated September 19, 2014
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  • We changed the process to make it better, faster and easier for you.
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4.324%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated September 19, 2014
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4.353%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated September 19, 2014
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4.116%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated September 19, 2014
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  • These rates won't last. Call now and lock-in your low rate!

4.739%

APR
30 Year Fixed
4.500% Rate $1,013/mo
  • Updated September 19, 2014
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  • Rates are still historically low! Lock in a low rate and payment today.
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4.302%

APR
30 Year Fixed
4.250% Rate $983/mo
  • From the lender: Trust your home financing to a company that puts your needs first.
Justin Fitzhugh
This is the 5th installment of the series Housing, Americas Future. As I read this study I recognize that some of the policies the study proposed last year are becoming a reality, and I think it important for us, average members of the industry, mortgage branch manager, loan originators, etc. to get a general idea of what may be one of the sources for the policy changes we have observed and yet to come. This study [1] was authored by the Housing...
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Prospect Financial Group, Inc.
The year 2014 started out with a weak first quarter. Recovering has been a slow process but has finally reached completion; as the sales form May are the highest of the year. Though sales are beginning to rise, mortgage rates remain low. Current rates are at 17-month lows. It is now common for lenders to quote rates in the 3's for traditional conforming loans. Another thing that remains low is home values. The slow climb of values has been...
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Joe Shamie
Wednesday - September 17, 2014 - 10:10am ET Current Trend Direction: Climbing higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond: $104.97, +3bp It's Fed day. At 2:00pm ET the Fed will release their monetary policy statement. Everyone is looking to see if "considerable time" will be left in statement to describe how long the Fed Funds Rate will be held steady post QEIII. We don't see any reason to change the...
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Bart Castelli
Mortgage rates experienced their first gain in two weeks, even though they were small, it was still in the right direction. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.25%, with the closing costs associated with this being the only change, as 4.375% still is becoming more of a reality with no discount points. The FOMC meeting began this morning and concludes tomorrow afternoon. Until this morning...
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LouisJ
Residential Real Estate Investors Now is still a great time for investors to purchase residential one to four unit property. Property values are relatively low, interest rates are low and conventional financing is available to a point. The problem occurs when you have more than 4 properties financed. Today the answer is blanket mortgage financing. This allows the serious investor an opportunity to have own 10, 15, 20 or more units. When an...
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Joe Shamie
Tuesday - September 16, 2014 - 10:15am ET Current Trend Direction: Climbing higher Float/Lock Bias: Carefully Floating Current Price of FNMA 4.0% Bond:$104.97, +3bp Mortgage Bond prices continue to drift a bit higher today being supported by falling Stock prices and ongoing tame inflation data. Today, the Fed kicks off its 2-day Federal Open Market Committee meeting in Washington, D.C. to discuss the current state of the US economy and monetary...
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Bart Castelli
Mortgage rates managed to hold steady today. We are still at 4.25% as the most prevelant quoted conforming 30yr rate for top tier borrowers, and even then with some additional closing costs - but 4.375% is in the picture. Less than 48 hours from now the FOMC will have released its policy statement and Yellen's press conference will have been concluded. In the meantime there is not going to be much movement in the rate markets - we do not...
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Linda Miller
Well, it feels like the boring but nice - super low rates of the summer might be coming to an end. We went most of 2014 with rates in the 4.125% to 4.25% range. This week saw an increase in the 10-Year Treasury Note from 2.45 to today where it hit 2.60. There was no significant data today to warrant this big move. It just feels like it is an accumulation of lots of little things suggesting the economy is getting better. If you have ever watched...
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Justin Fitzhugh
This is the 4th installment of the series Housing, Americas Future. Through this series, I summarize and discuss this study[1] which was authored by the Housing Commission and sponsored by the Bipartisan Policy think tank. Today I summarize and discuss Reforming Our Nations Housing System.[2] This part deals with the history of our housing financing system. I found it quite interesting to get a refresher course on what motivated the creation of...
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Bart Castelli
Mortgage rates were essentially unchanged today. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains split between 4.125% and 4.25%, with the closing costs associated with this being the only change. Not much of day but MBS prices have drifted lower since this morning. The 10yr at 2.54% is slightly higher. Still testing the 100 day average on the 10yr note---and holding. Weekly jobless claims were higher this...
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Justin Fitzhugh
The Consumer Financial Protection Bureau, CFPB, announced its plan to launch a financial coaching program for veterans and economically vulnerable consumers. The Bureau requests commentary from stakeholders, which will be used as part of the authorization request from the Office of Management and Budget for the program. The financial coaching would likely direct clients to engage in Housing Counselling sessions whenever they face homeownership...
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Bart Castelli
Mortgage rates continued to move higher at a fairly quick pace today. Some borrowers were quoted the same rates today as yesterday (4.125%) for top tier borrowers, again with the only change coming in the form of closing costs, but 4.25%is now more in play than it has been during the past several weeks. Not much movement in the bond and mortgage markets through the day after a weak opening this morning. The intraday volatility we were thinking...
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Bart Castelli
Mortgage rates unfortunately moved in the wrong direction today as they raced to their highest levels in over a month. Even though 4.125% is still available for conforming 30yr fixed rate mortgage for flawless borrowers, we are now seeing 4.25% be more prevalent after today's weakness. We have talked of market volatility in the last few commentaries; today however, in the bond and mortgage markets there was little or no price volatility.The...
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Prospect Financial Group, Inc.
Closing costs are on the rise. People now pay around 6% more this year as compared to a year earlier. You don't have to pay through the roof, however. If you know what closing costs are, it will be easier to avoid them. Discussed below are the different types mortgage costs. There are two types of closing costs: origination/lender charges and third party fees. Origination/lender fees are paid with your loans origination. It takes a lot of...
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Justin Fitzhugh
LIBOR is a reference rate that is currently used in more than $3000 trillion dollars worth of contracts. This rate is part of the international financial system, and every American household and business that holds a LIBOR-linked mortgage and loan is vulnerable to it. However, the credibility of this rate was devalued after the LIBOR manipulation scheme that came to light in 2012.[1] The scandal has lead Federal public officials to analyze this...
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Joe Shamie
Tuesday - September 9, 2014 - 10:05am ET Current Trend Direction: Sideways Float/Lock Bias: Locking short term Current Price of FNMA 4.0% Bond: $105.75, -12bp Mortgage Bonds are drifting lower this morning after failing to break above resistance levels yesterday. A report out by the San Francisco Fed says that researchers indicate that investors are underestimating how quickly the Fed can raise interest rates. Current forecasts from the Fed...
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Prospect Financial Group, Inc.
Closing costs are on the rise for the second year in a row, according to Bankrate's annual closing cost survey. On a mortgage of $200,000 dollars, the average home buyer is paying $2,539 in lender and third party fees. The third parties aren't to blame for the rise in closing costs; the raise in costs comes directly from lender fees. When you ask why, all answers point to tightened mortgage standards. What is known as the "qualified mortgage...
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James Brooks
By James Brooks With the release of only two pieces of monthly economic data in addition to two Treasury auctions that have the potential to affect mortgage rates. Despite the low number of reports, we still will likely see a fair amount of movement in the markets and mortgage pricing. The economic data is set for late in the week and the Treasury auctions will take place mid-week. There is nothing of relevance scheduled to be posted or announced...
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Nevin Williams
How to Calculate FHA Mortgage Insurance ( FHA MI) What you will need: A standard calculatorA piece of paper/penA little patienceAn understanding of MI factorAn understanding of UFMIPHere is the formula for loans with terms greater than 15 years - Loan amount multiplied by to monthly MI factor divided by 12 equals your monthly MI payment. MI factor is the number used to calculate the sum. FHA rules change but as of Januar
Joe Shamie
Friday - September 5, 2014 - 1:45 pm ET Current Trend Direction: Sideways Float/Lock Bias: Locking short term Current Price of FNMA 4.0% Bond: $105.91, +9bp And the survey says142K jobs were created in August, far below the 223,000 expected and recent trend of 215,000+ per month in 2014. Adding insult was a downward revision to June, where 28,000 less jobs were created. The Unemployment ticked down to 6.1% from 6.2% - which could be viewed as the...
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Justin Fitzhugh
This is the third instalment of my discussion of Housing, Americas Future study.[1] My intention is to summarize the various points the Bipartisan Policy Think Tank addresses through this study while I promote the involvement of mortgage professionals in the shaping of our industry. Part 1,
Bart Castelli
Mortgage rates ended the day all over the place as volatility was evident in the market. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.125%, with the closing costs associated with this being the only change. Another technical test of key support for the 10yr at 2.45% - yesterday it increased to 2.45% then rallied after not going above it. Today the note opened at 2.42% then declined to 2.40%,...
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Justin Fitzhugh
Last week, August 26, 2014, Fannie Mae announced an update to mortgage fraud prevention measures. The selling guide announcement SEL-2014-11 indicated the Agency has implemented the Suspended Counterparty Program (SCP) established by the FHFA.[1] Effective on the date of the announcement, lenders are prohibited from engaging any individual or entity that is listed on the Programs list to originate or service loans owned by the Agency. Before...
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Bart Castelli
Mortgage rates started the day heading higher after overnight news of a potential ceasefire in Ukraine caused investors to quickly sell safe-haven assets. The Mortgage Backed Securities (MBS) that dictate mortgage rates fall into this 'safe-haven' category along with US Treasuries. Two points about the rally in treasuries today - traders do not believe that a real cease fire in Ukraine will happen, and technically selling dried up at...
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Sean Young
Are you nervous about buying your first home? Don't worry you are not alone. Buying a home can be very stressful even if it's your 10th time doing it. Feeling anxious or being nervous is perfectly normal when buying a home. Did you find the right property, the right area, are the schools any good, can I afford this? The list can go on and on, but if you follow some of the suggestions below you can will feel more secure with your...
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Joe Shamie
Wednesday - September 3, 2014 - 9:55am ET Current Trend Direction: Sideways to lower Float/Lock Bias: Locking short term, days to a few weeks Current Price of FNMA 4.0% Bond: $105.75, Unchanged News of a possible ceasefire between Ukraine and Russia is pressuring the Bond markets slightly lower and is pushing the S&P 500 to fresh record highs. There are no economic reports due for release today, but the Fed Beige Book will be released at...
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Bart Castelli
Mortgage rates were higher today, ending nearly a week and a half of modest improvements. While no individual day stood out during that time, the combined effect took rates extremely close to their lowest levels of the year. Had today moved in a more friendly direction, we would have hit the low point - instead, we remain in the same narrow range that has characterized the past four-six months. The most prevalently-quoted conforming 30yr fixed...
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Prospect Financial Group, Inc.
The time it takes for a loan to get approved by a lender is down to 38 days from 42 one month prior. This is important because the longer a loan takes to close; the higher the costs are. Competition is primarily driving down costs as buyers try to offer an edge of timeliness to win the bid. The length of the financing process will vary between lenders. The new average of 38 days until closing is still slow when compared to the newly popular...
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Joe Shamie
Tuesday - September 2, 2014 - 9:25am ET Current Trend Direction: Sideways Float/Lock Bias: Locking short term Current Price of FNMA 4.0% Bond:$105.78,-12bp The summer of 2014 unofficially came to an end yesterday with the Labor Day Holiday as major investors drift back into the market this week. Mortgage Bonds begin September to the downside as Stock prices edge higher with both the Dow (17,098.45) and the S&P 500 (2,003.47) near all-time...
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Bart Castelli
Mortgage rates were basically the same as they were yesterday as there was very little movement ahead of a three day weekend. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.125%, with the closing costs associated with this being the only change. Most attention today on the increased terrorist threat issued by the UK this morning to "severe", the second highest threat level they have. We continue to warn...
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Justin Fitzhugh
Homebuyer affordability is at an all-time high level, and the the monthly mortgage payment-to-rent ratio for the U.S. is near the lowest it has been in more than 35 years.[1] So why are we not seeing a pickup of first-time homebuying activity? Based on past social patterns, the Echo Boomer generation (born between 1981- 2000 ) was scheduled to start their homeownership cycle more than a couple of years ago, but so far, they are choosing to rent...
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Bart Castelli
Mortgage rates inched a little bit more towards the lowest point for 2014. It seems like I am repeating myself as the interest rates that are normally influenced by strong economic reports did just the opposite - as the market considerations still is being looked at heavily overseas. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios is now at 4.125%, with 4.00% now becoming a factor with higher closing costs into the...
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Justin Fitzhugh
Last week I began to discuss the Housing, Americas Future study. My intention is to summarize the various points the Bipartisan Policy Think Tank addresses through this study with the vision to promote involvement
Nevin Williams
Current mortgage rates are slightly better. News of a truce in Israel wasn't enough to convince investors that the worst has come and gone. Fears that the US may become more involved with fighting ISIS is another reason we are seeing investors buying bonds as a way to move their money to safety. I wouldn't be surprised if we see a few more trading days of improvement before bond traders sell bonds and take profits. October is when the...
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MEL SMITH--LENDER OF THE MONTH
Perhaps you have recently been denied a Mortgage for a Home Purchase or Refinance. Do not lose hope, because there still may be options available to accomplish your goal. I have seen people get denied at one bank and approved at another on the same day. Often, this relates to the difference in Bank guidelines or could depend upon the knowledge of the Professional you work with. I would advise Borrowers to try and understand why they were denied...
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Justin Fitzhugh
Last week, the Consumer Financial Protection Bureau, CFPB, published the final rule on annual adjustments for HOEPA, and the Ability to Repay/Qualified Mortgage provisions of Dodd Frank. These adjustments become effective on January 1, 2015. In accordance with The Ability to Repay and Qualified Mortgage rule, ATR / QM, the CFPB issued its annual adjustment of points and fees limits for a mortgage to qualify. The Bureau increased these limits as...
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Joe Shamie
Wednesday - August 27, 2014 - 10:15am ET Current Trend Direction: Sideways to higher Float/Lock Bias: Carefully FloatingCurrent Price of FNMA 4.0% Bond: $105.91, +12bp Mortgage Bonds are drifting higher this morning as Stock investors step back to survey the land after the closely watched S&P 500 closed at a record high yesterday of 2,000.02,while the Nasdaq hit its highest level since March of 2000, 4,570.64. S&P futures are slightly...
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Bart Castelli
Mortgage rates were steady for the most part today as 4.125% - 4.25% (depending on loan fees) still is intact as the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers. The markets that underlie mortgage rate movement were uninspired today. Housing is still at best muddling - how can one save enough for a down payment? It is likely that will continue, especially if and when interest rates increase. That is one of the key...
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Justin Fitzhugh
The economy appears to be kicking and screaming; the MBA reported increased activity of mortgage applications, Freddie Mac reported lower fixed rate mortgage interest rates, and NARS reported increased home sales during July. A lot happening in the policy making and regulatory arena; the CFPB issued its annual adjusted ATR / QM and HOEPA loan limits thresholds, and it reminded mortgage servicers about mortgage transfer best practices; ABA...
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Prospect Financial Group, Inc.
Today's mortgage rates are very low. There is also now a big difference between the mortgage rate of a 30-year fixed and a 15-year fixed. For the first time in history, the 15-year fixed rate mortgage is almost a full percentage point cheaper than the 30-year fixed rate mortgage. To be exact, the average 15-year is 0.92% lower than the 30-year. That amounts to 65% less in mortgage interest over the life of the loan. It's no surprise...
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Justin Fitzhugh
Last week, August 12th, 2014, the Federal Housing Finance Agency, FHFA, issued a request for input on its proposed Single Enterprise Mortgage-Back Security, the Single Security. The structuring and issuing of a single security to market and guarantee GSE loans, is part of a larger strategy that is intended to develop a liquid, resilient, and sustainable secondary mortgage market which is attractive to private investors. The structuring of Single...
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Bart Castelli
Mortgage rates stopped their trek upward and retreated just a little bit today. This still leaves 4.125% - 4.25% (depending on loan fees) intact as the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers. Another low volume improvement in the stock market and interest rates have held support on the 10yr at 2.44%, now 2.41%. MBS prices ending the day better than morning pricing levels. The data this morning for the US was...
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Justin Fitzhugh
I came across Housing, Americas Future: New Directions for National Policy report, and after I read the executive summary I decided to discuss some of its topics through my blog posts. The report was sponsored by The Bipartisan Policy Center[1] in an effort to analyze what motivated the last Housing Collapsed and Sub-Prime Lending Crisis, and the goal to think about policies that can help us build a sustainable housing market and financing...
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James Brooks
By James Brooks The bond market is currently up 5/32 (2.41%),which should improve mortgage rates by .125 points. The first of this morning's three releases was last week's unemployment figures at 8:30 AM ET. They showed that 298,000 new claims for unemployment benefits were filed last week, down from the previous week's revised total of 312,000. That indicates the employment sector strengthened last week, making the data slightly...
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MEL SMITH--LENDER OF THE MONTH
How many homes have you viewed in your quest for Home Ownership? The average buyer looks at numerous houses before deciding on the best one. Sometimes you may find a potential house that has everything you desire except that fact that it's outdated. Under those circumstances, it may be advantageous to consider a FHA 203k loan. This awesome loan product is designed to help you purchase and renovate a home seamlessly. In fact, if the projected...
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Justin Fitzhugh
Despite the fact that Congress is in recess, and that some of us may take it easier on a sandy beach, at the heart of this summer Federal Housing Agencies miss no opportunity to report the economy is on track, propose new regulations, an FHA Official announces a step down, and HUD settles with another Company to resolve discrimination allegations. Is this summer? ECONOMY ON TRACK Last August 12th, 2014, The Department of Housing and Urban Affairs...
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Bart Castelli
Mortgage rates continued to move up wiping out last week's gains as we are now seeing an easing in overseas geo-political issues. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains 4.125% - 4.25%. Two better housing reports already this week suggest the market may be improving as interest rates have fallen. Yesterday the NAHB housing market index for August showed increased activity in the new home...
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Prospect Financial Group, Inc.
Your credit is extremely important for your financial situation. Think of it as a grade. When you're in school, you need good grades to qualify for a good college. When you're financially independent, you need a good credit score to qualify for low rates. The better your score, the more opportunities that are available to you. And though it takes years to create a good FICO score, it can take only a couple mistakes to tank. Your credit...
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Justin Fitzhugh
FHA issued new Principal Limit Factors (PLFs) for Home Equity Conversion Mortgages (Reverse Mortgages). Mortgagees must ensure that borrowers are given cost / benefit analysis of HECM loans. The intention behind this requirement is to help the borrower asses whether the HECM insured mortgage will his/her needs.[1] Mortgagees must advise prospective borrowers and their non-borrowing spouses to discuss with their housing counselor whether principal...
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Sean Young
Would you buy a home today if did not have to worry about the down payment? Then the Colorado NHF Platinum program may be exactly what you have been waiting for. What is the NHF 5% Grant Program? The NHF Platinum 5% grant is is a down payment assistance program that actually gives you a 5% grant to go towards your FHA 3.50% down payment and closing costs. This is a grant you dont ever pay back. Yes, you heard me right. You never pay it back! 5% grant? The
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