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Source: bankrate.com
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Mortgage Rates, Affordability and Foreclosures at Crystal Coast of NC
“Since the Federal Reserve can just create dollars out of thin air, it can buy up assets like long-term Treasuries or mortgage-backed securities from commercial banks and other institutions. This pumps money into the U.S. economy and reduces long-term interest rates further. When long-term interest rates go down, investors have more incentive to spend their money now. In theory,” reports Brad Plumer of the Washington Post.
Source: hitchcockrealty.net
North Carolina Mortgage Rates Fall Below National Average
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Source: hendersonproperties.com
30 Year Jumbo Mortgage in Raleigh, Cary, Durham, Chapel Hill, NC
Zip Codes 27614, 27518, 27712, 27517 A Fast Overview of Jumbo Mortgages and Super Jumbo Mortgages-down payment, credit scores, loan limits, appraisals, and what you can expect. The loan size is over $417,001.00 and up to $3 million for most lenders. Super Jumbo Mortgages above $3 million are available, though you’ll have to search a bit more for those specialty super jumbo lenders. Jumbo lenders and super jumbo lenders will have their own set of underwriting requirements and unique “overlays.” Overlays are the nuances of what jumbo loan lenders will accept or reject. You can be sure these differ from jumbo lender to super jumbo lender. Your credit score and type of property will determine your down payment and rate on jumbo mortgages. Minimum Down Payment or Home Equity Most jumbo lenders and super jumbo lenders require a minimum of 20% down. There are a some banks and physician loan programs that allow for 10% down, or zero down. You will pay for that in higher fees or interest rate. Jumbo Mortgage Credit Scores The lowest allowable score I have seen is a 680 middle score. To clarify, this is the lowest middle score of all borrowers. A 680 credit score will require a higher down payment or lower loan to value if you are refinancing. A middle credit score of 700 is the beginning point for many jumbo lenders, though a few have their lowest allowable credit score beginning at 720. Those jumbo loan lenders that require the highest credit score will frequently have the best pricing and jumbo mortgage rates. Jumbo Loan Size Limits may have both minimum credit score requirements and reduced loan to value. That is, they require a larger down payment. Up to $650,000. Up to $1,000,000. Up to $1,500,000. Up to $2,000,000. Up to $3,000,000. A word about appraisals. Most jumbo lenders require the use of a third party appraisal company that your loan officer has no contact nor influence with. The appraisers could come from any location. Larger jumbo and super jumbo loans, ($1000,000.00+) may require two appraisals, and may also require a desk review appraisal if there are still questions about the property valuation. You should anticipate that jumbo loan lenders underwrite the appraisal more intensely than the borrower credit file. By this, I mean comprable sales, distance, recency of sales, bedrooms, etc. A word about underwriting the “credit file,” which is YOU – expect to be asked for additional information, documentations, and explanations for anything the underwriter has questions about. At times it may seem silly, and beyond common sense, so smile if you can and supply the requested documents as quick as possible. Patience is the word in jumbo mortgage loans. Here a mortgage calculator for jumbo loans. Check the Purchase tab and you can compare 4 loans at a time: Questions? Contact Jim Enright here.
Source: trulia.com
10 Canary Lane, Hayesville, NC
Lake Front A-Frame. This cute and cozy rustic 3 bedroom home on Lake Chatuge has great lake frontage, wood interior, mature landscaping and would be perfect for a weekend getaway, seasonal rental or year round home. YOU MAKE THE CALL ONE OR ALL.
Source: sonjasilversrealtygroup.com
Chapel Hill 30 year fixed rate mortgage in Raleigh Cary Durham Chapel Hill
A report from the Wall Street Journal shows the Housing Market is beginning to heat up. Home prices remain low compared to levels of income, and although prices have rebounded nicely, they are still 30% below the 2006 peak. This suggests a big opportunity ahead for the Housing Market. In fact, there is an eerily similar pattern to what happened in the Stock Market. A look at the image shows both housing and stocks traced and almost identical decline, bottom, and bounce. Since then, stocks have gone on to much higher levels. What if housing takes a similar path?
Source: mortgagechoice.com
RaleighDurham, North Carolina Mortgage Rates, NC Refinance …
There are two basic sorts of mortgage rates: dealt with and variable. Both mortgage kinds work for various people. A guaranteed rate mortgage makes sure that you have a fixed mortgage rate for a set amount of years. For variable rate loans, also called modifiable rate mortgages (ARM), the loan rate of interest could change over time, frequently based on a financial index such as the prime rate. An ARM loan will offer a lesser month-to-month payment for a short time. Although a set mortgage rate might suggest a bit higher regular monthly repayment, you do not have to fret about the current mortgage rates effecting you. Don’t hesitate to use our mortgage repayment calculator to identify your month-to-month repayments.
Source: mortgageratesfortoday.net
Mortgage Rates Up Slightly According to ForTheBestRate.com
The weekly survey of mortgage rates released by Freddie Mac, a government sponsored enterprise and purchaser of mortgage loans on the secondary market, on Thursday, May 9th, 2013 also revealed the uptick in pricing. The data showed that 30 year fixed mortgage rates rose to an average of 3.42% (0.7 points), up slightly from 3.35% (0.7 points) the week before. 15 year fixed rates were also up a bit on average to 2.61% (0.7 points) from 2.56% (0.7 points) one week earlier. 5 year adjustable rate pricing moved to 2.58% (0.5 points) on average, up from 2.56% (0.5 points.)
Source: ud.biz
Highlands NC Real Estate, Upward Momentum Continues
The real estate tracking website Trulia.com shows an increase in sales volume for Highlands homes of 29.6% for the three week period of May 29th through June 19th, compared with the same three week period a year ago. At the same time the average price per square foot is up dramatically. The data suggests that a year ago distressed property sales may have artificially decreased home values. Buyers are clearly seeing opportunity in buying Highlands homes.
Source: meadowsmtnrealty.com