Posts Tagged ‘purchase’
Mortgage Rate Update. Thursday, April 8, 2010
April 8th, 2010 | 
Author: 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
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Mortgage Rate Drop! Wednesday, April 7, 2010
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
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Mortgage Rate Forecast for March 29, 2010
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
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Posted in Mortgage Rate Update (by date) | 
Tags: Call Yale, comsumption, fed, federal reserve, FHA mortgage, floating the rate, home loans, locking the rate, mortgage, mortgage bond, mortgage bonds, mortgage prices, mortgage rates, mortgage specialist, mortgage-backed securities, purchase, refinance, yale roth | 
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Mortgage Video FAQ – “What Makes Up The Borrower’s Closing Costs When Buying Or Refinancing”?
Watch this video:
http://www.YaleRoth.com In this short video post Yale Roth answers the FAQ:
“What Makes Up The Borrower’s Closing Costs When Buying A New Home Or Refinancing An Existing Home.”
The video is about 2 minutes and 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 questions or visit his rate page at http://www.YaleHomeLoan.com
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Posted in FAQ Mortgage Video Series, General Mortgage/Real Estate Information, Home Loan, Mortgage, Mortgage Questions, Refinance |
Tags: buying a new home, Call Yale, closing costs, Existing Home, FAQ, FHA, FHA mortgage, home loan, mortgage, mortgage faq, mortgage specialist, purchase, refinance, United States, video post, yale roth |
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Homebuyer Tax Credit Extended Until The End of April 2010!
AND…
New Tax Credit for Existing Homeowners
The first-time homebuyer’s tax credit has been extended to include home purchases made through April 2010. In addition to the tax credit, which provides up to $8000 to new homebuyers, the new legislation also offers a tax credit for existing qualified home owners!
Highlights of the new bill:
1. Deadline extended to April 30, 2010 (closing must take place by June 30, 2010)
2. Higher Income Limits: Buyers who earn up to $125,000 (single) and $225,000 (married) qualify, making more buyers eligible
3. First-time Homebuyers Eligibilty: Up to $8000 tax credit on home purchase (may not have owned a home for the last 3 years prior to purchase)
4. Existing Home owner Tax Credit And Eligibility: Up to $6,500 tax credit on home purchase (must live in the current primary residence for 5 or more consecutive years to qualify)
5. Types of Homes that Qualify: Homes with a purchase price of less than $800,000 qualify, including newly constructed or resale, and SF detached, townhomes or condos, provided the home will be used as a primary residence.
6. The New Bill Is Effective Nov. 6, 2009
Yale
Yale Roth is a Senior Mortgage Consultant and specializes in FHA Mortgages. Contact Yale at 561-350-7684 with any mortgage-related questions.
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Can I Use The $8000 Tax Credit For My Down Payment?
The answer is yes and no. You’re not able to apply the $8000 (or 10% of your purchase price) as your exclusive DP.
For an FHA loan…you need 3.5% of your own money down. You can apply the 8k or any portion of the credit over and above your own 3.5% down.
In a nutshell…you (the buyer) need some “skin in the game.”
Hope this helps!
Yale Roth is a Senior Mortgage Consultant and specializes in FHA Mortgages. Contact Yale at 561-350-7684 with any mortgage-related questions.
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Posted in $8000 tax credit |
Tags: Contact Yale, DP, fha loan, fha mortgages, money down, mortgage, mortgage consultant, nutshell, purchase, purchase price, senior mortgage, tax credit, uadvance.info, yale roth |
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The $8000 Tax Credit – Explained
To my Mortgage and Realtor colleagues…here’s the $8000 tax credit explained in a nutshell…
It’s a dollar for dollar credit…so it’s like getting an actual check for $8000…Very cool!
To be eligible… you:
1. can’t have owned a primary residence within the last 3 years. If you and your spouse are buying and one of you have owned a primary residence within the last 3 years…you’re NOT eligible.
2. You GET 10% of the purchase price not to exceed $8000. So…if your purchase price is $50,000…you get $5000…If your purchase price is $200,000…you get $8000…the max…not the $20k.
3. If you live in the home LESS than 3 years you have to pay the credit back!
4. The cutoff date is Dec 1, 2009…so…NOW is a GREAT time to buy!
5. If you’re single and earn less than $75k…you’re eligible for the full credit…if you earn between $75k and 95k…a partial credit and over $95k…sorry…you’re not eligible
6. If you’re married and earn less than $150k…you get the $8000…between $150k and $170k…a partial credit and over $170…no $8000.
7. You can’t buy from your parents or kids…but you can buy from a sibling or cousin!
So…there you go…as I said…now’s a great time to buy…What would YOU do with $8000!
Best – Yale
Yale Roth is a Senior Mortgage Consultant and specializes in FHA Mortgages. Contact Yale at 561-350-7684 with any mortgage-related questions.
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