There are many new rules and stricter credit guidelines that continue to impact borrowers qualifications. While the borrower’s credit is pulled prior to application, many do not realize that the underwriter can, and in many cases, is re-pulling the credit of the applicant prior to closing.
Monthly Archive: July 2010
Jul
09
Are you waiting to buy because you think prices are declining?
Since rates are at the lowest point ever, and we know that they have to go up, assuming that rates will rise, it may not make mathematical since to wait.
Jul
06
What Good is an Extension without a Loan Approval?
The deadline for “tax credit” homebuyers waiting to close on June 30 has been extended to September 30. Not only is the extension great news, but interest rates have fallen over .375-.50% since the end of April according to Freddie Mac. This could effectively reduce a buyer’s monthly payment over $600-800 a year on a …
Jul
02
Happy Fourth! and Tax Credit Deadline Extention News
Rates are still at historic lows. If you know of anyone who is thinking about refinancing their current homes, or taking advantage of the combination of low rates and low prices by buying a home, please tell them to give me a call. THank you and have a great holiday weekend!
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