Yale Roth M.A., M.Ed

Posts Tagged ‘Call Yale’

A lot of times people ask me, “I see 3.75% advertised…I want that mortgage rate”!

I respond saying “What type of loan do you want”?

Different loan types accomplish different things and offer different interest rates.

A 30 yr fixed will keep the payment lower.

A 15 yr fixed will offer a lower mortgage rate and payoff sooner; however the payment will be higher (due to the shorter term).

Once the loan type is confirmed, the 3 main factors that allow someone to get the best price (and lowest mortgage rate offered for that day) – as mortgage rates can change daily – are:

1. Credit scores.  The higher the scores, the better.  If you were loaning money, is the risk greater to you if you loan to someone who has a 650 score or 810 score?  People with higher scores are rewarded.

2. Equity.  That is, what’s the loan to value ratio?  If there is greater than 40% equity in the property, the price (which is the cost to get the mortgage rate) will be better than if you have 5% equity.  Remember, equity is the difference between what you owe and what the home’s worth.

3. What type of transaction is it? Cash out refinance?  Rate/term refinance?  Purchase transaction?  There are greater underwriting limitations and negative pricing adjustments on cash out refinances than on r/t refinances or purchases.

So, if your scores are over 800, your loan to value ratio is low, and you’re not taking cash out of your home, expect to get the best mortgage rate and price for that day.

Yale Roth is an FHA Mortgage Specialist.

Call Yale at 561-350-7684 with any mortgage or credit-related questions.

Related Posts:

• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?
• Mortgage Rate Update. Thursday, April 8, 2010
• Mortgage Video FAQ – “What’s The Difference Between A FHA Mortgage And Conventional Mortgage”?
• Mortgage Rate Forecast for March 29, 2010

Watch this video:

http://www.YaleRoth.com In this brief video, Yale Roth answers the top Mortgage FAQ, “Do I need an attorney to close on my loan”?

The video is very informative.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?
• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Video FAQ – “What’s The Difference Between A FHA Mortgage And Conventional Mortgage”?
• Mortgage FAQ #7 – What’s The Difference Between A Cash Out And Regular (Rate/Term) Refinance?
• Mortgage Video FAQ – What Makes Mortgage Rates Change?

Watch this video:

www.YaleRoth.com In this video post Yale Roth answers the question: Does it make sense to do a debt consolidation loan?  The video is very informative and lasts about 3 minutes.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage FAQ #7 – What’s The Difference Between A Cash Out And Regular (Rate/Term) Refinance?
• Mortgage Video FAQ – What Makes Mortgage Rates Change?
• Mortgage Rate Update. Thursday, April 8, 2010

For the second day in a row, bond prices rose nicely, pushing mortgage rates down again!

Retails sales reports were up slightly; however the intial jobless claims unexpectedly rose amid Easter-related volitility.

If you’re within 30 days of close, risks favor locking!

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Rate Drop! Wednesday, April 7, 2010
• Mortgage Rate Forecast for March 29, 2010
• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?

Mortgage rates have dropped this morning on a well-received three-year note auction and no major surprises from the Federal Reserve’s Open Market Committee minutes.

If you’re in a position to lock, take advantage of the improved rates and secure the lock.

To view the current rates, do a Personalized Rate Search under the FREE Mortgage Rate quote.  No personal information is needed and it only takes 30 seconds.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Rate Update. Thursday, April 8, 2010
• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Rate Forecast for March 29, 2010
• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?

Mortgage rates are slightly lower this morning as the yield on the 10 yr Treasury note is flirting with a yield around 4%. 

Similarly, the Dow yesterday touched the 11,000 mark but closed  just below that milestone.

Last Friday’s strong employment report may suggest the labor market is beginning to bottom out.  Opinions vary about whether this recovery is sustainable.

If  you’re in the process of buying a new home or refinancing an existing mortgage, take risk off the table and lock the rate while they’re at these levels.

The risk of losing what is available now for the potential reward of a rate .125% or .25% lower isn’t justified- in my opinion.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Video FAQ – What Makes Mortgage Rates Change?
• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?
• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Video FAQ – “What’s The Difference Between A FHA Mortgage And Conventional Mortgage”?

Watch this video:

http://www.YaleRoth.com In this video post Yale Roth answers one of the top mortgage FAQ “What’s the difference between a FHA mortgage and conventional mortgage”?

Yale outlines some of the differences between the two loan types and explains the benefits and drawbacks as well as which loan type would be more appropriate. 

This video is very informative and will help people decide which loan type is better for them.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage FAQ #7 – What’s The Difference Between A Cash Out And Regular (Rate/Term) Refinance?
• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?
• Mortgage Rate Update. Thursday, April 8, 2010

Mortgage rates opened  slighlty higher this morning.  

Initial jobless claims came in at a 19 month low – however, attention is focused on the March jobs report due out tomorrow morning at 8:30 ET.

Remember, a significantly better than expected number has the potential to push rates up.  Conversely, if the number comes in a lot worse than expected, we could see bonds rally and rates improve.

Regarding FHA mortgage changes, FHA case numbers have to be assigned by tomorrow in order to use the current Upfront Mortgage Insurance Premium factors. 

As of Monday, April 5, the FHA Upfront Mortgage Insurance Premium will go to 2.25%.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?
• Mortgage Video FAQ – “What’s The Difference Between A FHA Mortgage And Conventional Mortgage”?
• Mortgage FAQ #7 – What’s The Difference Between A Cash Out And Regular (Rate/Term) Refinance?

Watch this video:

In this short video post Yale Roth answers a top mortgage FAQ “What’s the Difference Between a Cash Out Refinance and regular Refinance”? 

If you’re in the process of refinancing, this video will give you more knowledge about your refinance transaction.

The video is very informative and lasts about 2 minutes.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Video FAQ – “What’s The Difference Between A FHA Mortgage And Conventional Mortgage”?
• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?
• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Video FAQ – What Makes Mortgage Rates Change?

As you know, mortgage rates change can change daily and change according to the trading of morgage-backed securities also know as mortgage bonds.

Mortgage bond traders trade off of the following things: economic indicators (which can come out daily), technical indicators related to bond prices and past open and close bond prices, and geopolitical factors.

This week is light for economic indicators.  Monday the PCE prices are due out.  The PCE is the Personal Comsumption Expenditure and is one of the Fed’s favorite inflation measurements. 

After that we have the jobs report due out Friday morning.  The jobs report can impact mortgage prices if the number comes in a lot better than expected.

In my opinion, if you’re floating your rate with the expectation that rates are going to drop more than .25%, you’re going to lose. 

The Fed’s buying program of mortgage bonds is ending March 30.  I doubt we’ll see private investors pick up the Fed’s slack.

If there’s benefit in your transaction, secure the rate.  Don’t game it, because the odds aren’t in your favor.

If you want to see the prevailing rates, do a personalized search from the webpage.  You’ll get all the information you need.

Yale Roth is a FHA Mortgage Specialist and provides mortgages for homeowners throughout the United States. 

Call Yale at 561-350-7684 with any mortgage-related problems or visit his rate page at http://www.YaleHomeLoan.com

Related Posts:

• Mortgage Rate Update. Thursday, April 8, 2010
• Mortgage Rate Drop! Wednesday, April 7, 2010
• Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
• Mortgage Video FAQ – Is An Attorney Necessary To Close My Mortgage?
• Mortgage Video FAQ – Does It Make Sense To Do A Debt Consolidation Loan?