Comments on: Is it Time to Refinance Your Home?

By: Bad Credit Mortgage

Bad Credit Mortgage — Wed, 06 Apr 2011 15:14:46 +0000

Well to refinance your mortgage you must payoff you previous mortgage otherwise you will be into refinance with bad credit.

By: Heloc Stated Income

Heloc Stated Income — Fri, 10 Sep 2010 09:45:32 +0000

Anyone with a credit score lower than 630 got approved for a Stated Income Stated Asset HELOC? who's lender?
My credit score has dropped because of credit card bills and I want to get a home equity line to consolidate my bills. I need to go SISA because I have a commission based job and I havent made enough much the past two years to qualify me, I also have very few assets right now. My home has about 200k in equity but I'm having the hardest time getting approved. If anyone has a lender who has approved them with my situation please let me know. Thanks

By: Firsttimehomebuyersloan

Firsttimehomebuyersloan — Sat, 31 Jul 2010 15:15:43 +0000

The best way to avoid falling into this trap is to simply call and ask for their latest rates. Banks are usually able to give borrowers an estimated rate based on a given credit score. Be sure to ask if there are any points or additional fees associated with this loan and, most importantly, how long the quoted rate is good for. Rates change often, so when rates are low be quick.

By: Loan Modification Services

Loan Modification Services — Tue, 30 Jun 2009 06:57:09 +0000

Good informative post. Thanks for sharing your nice work and blog.

By: What You Need to Know About Mortgages in Today’s Market | Redfin Seattle Sweet Digs

Tue, 12 Aug 2008 20:56:09 +0000

[...] expert from The Mortgage Reporter, as well as regular contributor to the Rain City Guide) about home refinancing. I was lucky enough to catch up with her once again, only this time I asked Rhonda to simplify [...]

By: Loan Mortgage Calculator » Is it Time to Refinance Your Home?

Loan Mortgage Calculator » Is it Time to Refinance Your Home? — Tue, 04 Mar 2008 12:38:22 +0000

[...] t171207count500340nHNow bush be an especially beatific happening if you’re considering refinancing because when the FRS cuts rates, it’s causes emotion of inflation, which is a bonds worsened opponent (this causes mortgage goodness rates to rise). … [...]

By: Rhonda Porter

Rhonda Porter — Wed, 20 Feb 2008 16:41:43 +0000

You bet!

By: Jen

Jen — Tue, 12 Feb 2008 16:57:21 +0000

Thanks for the explanation!

By: Katrina Munsell

Katrina Munsell — Mon, 11 Feb 2008 19:59:09 +0000

Thanks, Rhonda!

By: Rhonda Porter CMPS

Rhonda Porter CMPS — Mon, 11 Feb 2008 17:49:10 +0000

Jen, when Fannie and Freddie start taking on loans over the conforming loan limit ($417,000), there will most likely be an add to the rate because of the additional risk they’re taking on (more transactions means more exposure) and the processing it will take to accomodate these loans.

I’m estimating the “add to rate” will be approx. 0.25%. So if the current mortgage for a 30 year fixed at $417,000 is 5.5%, then a loan amount over $417,001 or higher may be 5.75%. This is still much better than the rate current jumbo mortgages have which is approx. a full point higher than conforming (the variance between jumbo and conforming change constantly during these volatile times in the market).

I’ve read that President Bush may be signing this bill into law on Wednesday. Then HUD has 30 days to publish the data that is needed to determine the new (temporary) conforming limit. It’s estimate that it will be just under $500,000 in the Seattle-Bellevue area.

We’ll know a lot more once this takes place. I’m guessing that we won’t have the new loan limits in place until March…we’ll see!