Month: August 2017

WEEKLY RATE – Interest Rates Remain at 2017 Lows

WEEKLY RATE – Interest Rates Remain at 2017 Lows

Interest rates remain at 2017 lows and at their lowest levels since November of 2016.

The 2 speeches from major financial leaders Janet Yellen and Mario Draghi didn’t touch on any significant change in monetary policy for the FED or the European Central Bank.

Last week, the Mortgage Backed Security (MBS) market closed the week up + 13 bps and also closed Monday up + 6 bps. This is pushing 30 year fixed conventional rates to 3.875% with less than a point. Another great value is a 20 year fixed conventional loan if you are interested in lowering your term some. I can now offer a 3.625% with less than a point, and 3.875% with 0 points.

The United States Non Farm payroll report is released the first Friday of every month. August 2017’s edition will be released on Friday and this report typically affect mortgage interest rates more than any other data for the month.

Have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

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For a no obligation mortgage quote, please answer questions at bottom of email or go to:

 

 

 

 

 

 

 

To apply for a refinance or home purchase loan, please call me or go to:

 

 

 

 

 

 

 

I am a top 1% mortgage originator in the country with 13 years of experience.

My team treats every transaction as an audition to earn your business for the rest of your life.

Our customers always come first and we will do everything in our power to make sure you have a great product and a great mortgage experience. 

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.875% – .92 points (4.06% APR),       4.125% – 0 points (4.16% APR),   4.25% – $0 costs (4.25% APR)

20 year fixed:       3.625% – .97 points (3.82% APR),     3.875% – 0 points (3.99% APR), 4.125% – $0 costs (4.125% APR)

15 year fixed:        3.25% –  .75 points (3.4% APR),        3.5% – 0 points (3.57% APR),     3.75% – $0 costs (3.75% APR)

5/1 ARM:        3.25% – .96 points (3.44% APR),     3.75% – 0 points (3.79% APR)    

30 year fixed FHA:        3.875% – .82 points (4.67% APR),     4.125% – 0 points (4.82% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.625% – .99 points (4.12% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.75% – .95 points (3.97% APR),     4.125% – 0 points (4.17% APR),   4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.75% – .95 points (3.94% APR),     4.0% – 0 points (4.05% APR),        

7/1 ARM Jumbo:        3.125% – .92 points (3.30% APR),     3.375% – 0 points (3.4% APR)

Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, are dedicated to providing all the best mortgage products and customer service to assist you in your home purchase or refinance in Arizona, California, Colorado, Washington, Georgia, Michigan and Virginia. Below are the products and Mortgage Rate Sheets we offer for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  Fairway Independent Mortgage Corporation, Fairway Independent Mortgage McCormick Ranch,  Team Green.  Reggie Green.  FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage.  August 28th  2017 30 year fixed rates, August 29th 2017 30 year fixed rates, August 30th 2017 30 year fixed rates, August 31st 2017 30 year fixed rates, September 1st 2017 30 year fixed rates, September 2nd 2017 30 year fixed rates, September 3rd 2017 30 year fixed rates, September 4th 2017 30 year fixed rates.

WEEKLY RATE – Interest Rates Remain at 2017 Lows

WEEKLY RATE – Rates Hit 2017 Lows

WEEKLY RATE – Rates Hit 2017 Lows

Interest rates trended down last week, ending at the lowest levels we’ve seen in 2017 and since November of 2016. 15, 20 and 30 Year Fixed rates are entrenched well in the 3%’s.

Now is a great time to reevaluate your mortgage to see if you can save money through a refinance. We can put together refinance options quickly on the phone or by having you answer a few simple questions on our website.

There is not a ton of interest rate news this week until Friday, when the heavy weights of the economy meet in Jackson Hole.

PRODUCT SPOTLIGHT – Down Payment Assistance Programs

 

 

 

 

Down payment assistance non repayable grants are available in many states and counties. We specialize in the Arizona Down Payment assistance programs Home Plus and Home in 5, but we also offer down payment assistance programs in other states when they are available.

The main tenets of down payment assistance are when a borrower qualifies with credit and income but does not have (or does not want to use) money for a down payment. Most programs are non repayable grants where your regular 3 to 3.5% down payment requirement are paid for through the grant.

To qualify, you typically have to have a credit score in the mid 600’s or above and we have to get your debt to income ratio to 45% or below.

If you are wanting to buy a home, but haven’t saved or don’t want to use your money for a down payment – please give us a call. We can let you know the same day whether you are eligible for down payment assistance and what grants may be available to you.

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As always, have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

—

For a no obligation mortgage quote, please answer questions on right or go to:


 

 

 

 

 

To apply for a refinance or home purchase loan, please call me or go to:

 

 

 

 

 

 

 

I am a top 1% mortgage originator in the country with 13 years of experience.  Fairway Independent Mortgage is a top 5 retail lender in the United States.

My team treats every transaction as an audition to earn your business for the rest of your life.

Our customers always come first and we will do everything in our power to make sure you have a great product and a great mortgage experience. 

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.875% – .99 points (4.07% APR),       4.125% – 0 points (4.17% APR),   4.375% – $0 costs (4.375% APR)

20 year fixed:       3.625% – .99 points (3.82% APR),     3.875% – 0 points (3.99% APR), 4.125% – $0 costs (4.125% APR)

15 year fixed:        3.25% –  .89 points (3.44% APR),        3.625% – 0 points (3.67% APR),     3.875% – $0 costs (3.875% APR)

5/1 ARM:        3.25% – .96 points (3.44% APR),     3.75% – 0 points (3.79% APR)    

30 year fixed FHA:        3.875% – .97 points (4.77% APR),     4.25% – 0 points (4.92% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.75% – .95 points (4.24% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.875% – .77 points (4.02% APR),     4.125% – 0 points (4.17% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.875% – .5 points (3.97% APR),     4.0% – 0 points (4.05% APR),        

7/1 ARM Jumbo:        3.125% – .98 points (3.31% APR),     3.5% – 0 points (3.54% APR)

Weekly Rate – Rates Hit 2017 Lows

WEEKLY RATE – INTEREST RATES REMAIN STABLE

WEEKLY RATE – Interest Rates Remain Stable

Interest rates continue to ebb and flow, but remain remarkably consistent when looking at rate pricing over a week or longer period.

30 Year Fixed rates are still sticking in the high 3%’s with less than a point and 4.125% at 0 points.

The Mortgage Backed Security (MBS) market closed last week up + 30 bps, and is trading down – 20 bps so far this week. Some ups and downs, but very consistent and stable

I expect rates to continue in this fashion until at least the next FED meeting.

PRODUCT SPOTLIGHT – Early Access Product

We have a great product that allows home owner’s to refinance or purchase without waiting the long periods required by Conventional, FHA, and VA.

We see it every day where consumers want to buy above the FHA loan limit, but had a foreclosure within the past 7 years. Conventional loans require a full 7 years out of foreclosure before qualifying for a Fannie Mae/Freddie Mac mortgage.

The Early Access product is a great solution to finance now with the goal to switch to a conventional loan down the line.

Below are some of the details of this great product:

620+ credit score required

85% LTV or less

43% Debt to Income Ratio or less

Primary, Vacation and Investment Homes

Gift funds permitted

Cash out loans permitted

If you have been having a hard time getting financing due to a recent foreclosure, short sale, or bankruptcy. Please give us a call. We would love the opportunity to help!!

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As always, have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

For a no obligation mortgage quote, please answer questions on right or go to:


 

 

 

 

 

To apply for a refinance or home purchase loan, please call me or go to:

 

 

 

 

 

 

 

I am a top 1% mortgage originator in the country with 13 years of experience.

My team treats every transaction as an audition to earn your business for the rest of your life.

Our customers always come first and we will do everything in our power to make sure you have a great product and a great mortgage experience. 

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.99% – .68 points (4.12% APR),       4.125% – 0 points (4.16% APR),   4.375% – $0 costs (4.375% APR)

20 year fixed:       3.75% – .79 points (3.91% APR),     3.99% – 0 points (4.04% APR), 4.25% – $0 costs (4.25% APR)

15 year fixed:        3.25% –  .97 points (3.44% APR),        3.625% – 0 points (3.76% APR),     3.875% – $0 costs (3.875% APR)

5/1 ARM:        3.5% – .94 points (3.69% APR),     4.0% – 0 points (4.06% APR)    

30 year fixed FHA:        3.875% – .99 points (4.77% APR),     4.125% – 0 points (4.82% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.75% – .91 points (4.23% APR),     4.0% – 0 points (4.3% APR),    

30 year fixed VA:        3.875% – .86 points (4.04% APR),     4.125% – 0 points (4.17% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     3.875% – 1 point (4.07% APR),     4.125% – 0 points (4.18% APR),        

7/1 ARM Jumbo:        3.25% – .83 points (3.42% APR),     3.5% – 0 points (3.57% APR)

Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, are dedicated to providing all the best mortgage products and customer service to assist you in your home purchase or refinance in Arizona, California, Colorado, Washington, Georgia, Michigan and Virginia. Below are the products and Mortgage Rate Sheets we offer for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  Fairway Independent Mortgage Corporation.  Team Green.  Reggie Green.  FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage.  August 16th  2017 30 year fixed rates, August 17th 2017 30 year fixed rates, August 18th 2017 30 year fixed rates, August 19th 2017 30 year fixed rates, August 20th 2017 30 year fixed rates, August 21st  2017 30 year fixed rates, August 22nd 2017 30 year fixed rates, August 23rd 2017 30 year fixed rates.

WEEKLY RATE – INTEREST RATES REMAIN STABLE

Testimonial Tuesday – Team Green

TESTIMONIAL TUESDAY – TEAM GREEN.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thank you Wendell for the awesome review. We truly appreciate the opportunity to work with you and your family.
This one was a doozy to say the least. We definitely couldn’t have done this without your document prowess!!

Team Green would love to work for you as well. Customer Service is a way of life here and how we built our business.
Find out the Team Green difference and work with one of the most reviewed lender teams in Arizona.

#teamgreen, #jolynanderson, #jennpatel, #reggiegreen, #fairwayindependentmortgagemccormickranch, #builtoncustomerservice, #wedomortgages.

WEEKLY RATE – Fannie Mae Increases Debt To Income Ratio Limit to 50%

WEEKLY RATE – Fannie Mae Increases Debt To Income Ratio Limit to 50%

The big news this week is Fannie Mae’s implementation of DU version 10.1.

With DU 10.1, more borrowers will be able to qualify for a Fannie Mae conventional mortgage.

The most notable change is the increased max debt to income ratio to 50%.

 

 

 

 

 

 

 

 

 

 

If you were unable to qualify for a loan in the past due to debt to income ratio, please reach out to us. We would love the opportunity to look into this again for you.

Other notable changes are:

  • Easier approval for borrowers with disputed credit tradelines
  • ARM LTVs up to 95%
  • More self employed borrowers will be approved to use 1 year tax returns
  • Time Shares will no longer to be considered mortgages

 

Interest Rates Continue in Narrow Range Close to 2017 Lows

Interest rates continued to trade in a narrow range at or close to the lowest levels of 2017.

The Mortgage Backed Security Market closed last week trading up + 22 bps. Currently, well qualified borrowers are still able to get a rate in the 3%’s for less than a point.

I expect rates to continue in this narrow range for the time being barring an unforeseen event.

As always, have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.

teamgreen@fairwaymc.com

Jenn Patel / Senior Loan Officer: 480-818-3769

Reggie Green / Branch Manager: 480-206-5577

 

 

 

For a no obligation mortgage quote, please answer questions at right or go to:


 

 

 

 

 

To apply for a refinance or home purchase loan, please call me or go to:

 

 

 

 

 

 

 

I am a top 1% mortgage originator in the country with 13 years of experience.

My team treats every transaction as an audition to earn your business for the rest of your life.

Our customers always come first and we will do everything in our power to make sure you have a great product and a great mortgage experience. 

Below are today’s interest rates.  Have a great week!!

TODAY’S INTEREST RATES:

30 year fixed:       3.99% – .73 points (4.15% APR),       4.125% – 0 points (4.18% APR),   4.375% – $0 costs (4.375% APR)

20 year fixed:       3.75% – .85 points (3.86% APR),     3.99% – 0 points (4.05% APR), 4.25% – $0 costs (4.25% APR)

15 year fixed:        3.25% –  .97 points (3.44% APR),        3.625% – 0 points (3.76% APR),     3.99% – $0 costs (3.99% APR)

5/1 ARM:        3.5% – .94 points (3.69% APR),     3.875% – 0 points (3.99% APR)    

30 year fixed FHA:        3.875% – .99 points (4.77% APR),     4.25% – 0 points (4.95% APR),     4.625% – $0 costs (outside of FHA Fee) (5.32% APR)

15 year fixed FHA:        3.75% – .91 points (4.23% APR),     4.125% – 0 points (4.42% APR),    

30 year fixed VA:        3.875% – .86 points (4.04% APR),     4.125% – 0 points (4.17% APR),     4.5% – $0 costs (4.5% APR)

30 year Fixed Jumbo:     4.0% – .53 points (4.1% APR),     4.125% – 0 points (4.18% APR),        

7/1 ARM Jumbo:        3.25% – .96 points (3.44% APR),     3.625% – 0 points (3.69% APR)

Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, are dedicated to providing all the best mortgage products and customer service to assist you in your home purchase or refinance in Arizona, California, Colorado, Washington, Georgia, Michigan and Virginia. Below are the products and Mortgage Rate Sheets we offer for fixed mortgages, ARM mortgages, Variable Mortgages, Interest Only Mortgages, HARP mortgages, HARP 2.0 mortgages, HARP 3.0 mortgages, DU Refi Plus Mortgages, Freddie Mac Open Access Mortgages, Fannie Mae Home Path Mortgage, Freddie Mac Foreclosure Relief Mortgage, VA mortgages, VA Interest Rate Reduction Loans, FHA mortgages, FHA streamline refinance mortgages, Conforming mortgages, Conventional Mortgages, 100%  Financing Mortgage, High Balance Mortgages, Fannie Mae mortgages, Freddie Mac Mortgages, No appraisal refinance, 0 point mortgages, 0 closing cost mortgages, paying a point mortgages, Refinance mortgages, purchase mortgages, and Jumbo Mortgages.  Fairway Independent Mortgage Corporation.  Team Green.  Reggie Green.  FairwayAZ, Fairway McCormick Ranch, Fairway Mortgage.  August 8th  2017 30 year fixed rates, August 9th 2017 30 year fixed rates, August 10th 2017 30 year fixed rates, August 11th 2017 30 year fixed rates, August 12th 2017 30 year fixed rates, August 13th  2017 30 year fixed rates, August 14th 2017 30 year fixed rates, August 15th 2017 30 year fixed rates.

WEEKLY RATE – Fannie Mae Increases Debt To Income Ratio Limit to 50%

JENN PATEL IS ON CALL THIS WEEKEND

TEAM GREEN – WE’RE AVAILABLE.

JENN PATEL / 480-818-3769 / TEAMGREEN@FAIRWAYMC.COM.

Jenn Patel is available all weekend for your home loan questions, prequalifications, marital advice, spiritual guidance, and knitting mastermind sessions.  

#teamgreen, #jennpatelrocks, #fairwaymortgagemccormickranch, #reggiegreen, #fairwaynation, #fairwayindependentmortgage, #mortgage, #homeloan, #arizonahomeloan, #wedomortgages, #builtoncustomerservice.