01 Mar 2012

February 27, 2012 HUD No. 12-037 WASHINGTON – "As part of ongoing efforts to encourage the return of private capital in the residential mortgage market and strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund, Acting FHA Commissioner Carol Galante today announced a new premium structure for FHA-insured single family mortgage loans.  FHA will increase its a...

21 Jan 2012

Real Estate Sale Statistics in Iselin, New Jersey Obtaining reliable information regarding real estate statistics in Iselin, New Jersey can be important to home buyers interested in buying a home in Iselin, but they can also be important for Iselin homeowners, whether thinking or planning on selling their home or not! It is easy to understand why obtaining reliable real estate sale stati...

20 Aug 2011

Mortgage Interest Rates Down
On August 18, 2011, FREDDIE MAC  announced that the 30 year fixed mortgage interest rate averaged 4.15%(with 0 .7 points), down from 4.32% the previous week and breaking the previous low of 4.17% set on November 11, 2010. The 15 year fixed mortgage interest rate averaged 3.36%( with 0.6 points), as compared to 3.50% the previous week. With mortgage interest rates at historic lows, not o...

21 May 2011

Mortgage Interest Rates
Should Buyers Pay More Attention to Mortgage Interest Rates or Timing the Home Purchase When Home Market Values Hit Bottom? The Dilemma: Buy Now or Wait? Home buyers are searching for the answer.  Many buyers are looking at homes week after week. They see home prices below price levels of last year, and much below the values of years past. They are viewing homes with mortgage payments th...

02 Apr 2011

After increasing to over 5% in late December of 2010, mortgage interest rates ranged from 4.75% and slightly above 5% throughout the first quarter of 2011. Image courtesy of BankRate.com. Whether buying or selling a home in Iselin, New Jersey or Colonia or Edison, in Middlesex County or in  any other State, the movement of mortgage interest rates should be of interest. A simple change fr...

01 Apr 2011

Know Your Limits A home buyer needs to know their financial limits. A home buyer needs to know how much of a mortgage payment they can qualify for based on their income, but more importantly, they need to also know how much they are willing to pay per month in a mortgage payment. There is a big difference in these two statements! Some buyers can afford a mortgage payment at the upper li...

13 Mar 2011

Whether looking to buy a home in Iselin, New Jersey,  in Colonia, in Edison, in Middlesex County or any other State, a home buyer needs to understand mortgage loans, mortgage qualifying, mortgage payment affordabilty and the mortgage application process. The reason for this is very basic: most all buyers need a mortgage loan to purchase and close on the home to be purchased! Keeping the...

16 Feb 2011

FHA Loans Will Cost More After April 18, 2011 The FHA Mortgage Insurance Premium (MIP) will increase 25 Basis Points Just the other day, FHA Commissioner David H Stevens announced changes for FHA Mortgage Loans. These changes are for any FHA loans that are assigned case numbers on or after April 18, 2011. Instead of paying the current rate of .9 % of the loan amount, and then dividing t...

11 Feb 2011

Let's Talk About Mortgage Interest Rates Again! Mortgage Interest Rates Well, interest rates increased to over 5% in December, 2010. Then they retreated to a little under 5% in January, 2011. Now, they are moving back up above 5% again. Refresh your memory with a review from my January 10th post. First of all, mortgage rates at 5% are near historic lows. And yes, they may retreat again ...

10 Jan 2011

Interest rates have been surprisingly low for such a long time, no one really thought they would go up. Well, they did, and everyone was caught off guard. In fact, at the end of December, mortgage interest rates increased to 5%. and slighly higher. A surprise to most people involved with real estate! The Good News is that they have dropped back down to 4.75% in the past week. However, ...