We have a few Team Green water bottles. Let us know if you want some for your open houses / events.
REGGIE GREEN / 480-206-5577 / REGGIE.GREEN@FAIRWAYMC.COM
Month: November 2017
GREEN EGGS AND HAM
Is the law of attraction drawing you to call Team Green for your mortgage?
The secret.
Listen to the laws of the universe and contact us today.
480-704-4890 , teamgreen@fairwaymc.com
WEEKLY RATE – FED RATE HIKE LIKELY COMING IN DECEMBER
WEEKLY RATE – FED RATE HIKE LIKELY COMING IN DECEMBER
I hope everyone is having a fantastic week!!
In this weekly rate we discuss current interest rate news and an important change to the Arizona Down Payment Assistance Program. Starting off with interest rates.
WEEKLY RATE
Interest rates improved slightly in the last week of November 2017.
Rate pricing improved about 10 bps in costs at each rate with the Mortgage Backed Security (MBS) market finishing the week up + 9 bps.
For well qualified customers, they can obtain a 30 year fixed rate at 3.99% with .75 points (4.15% APR), and a 4.25% with 0 points (4.29% APR).
Rate volatility will likely increase to close out 2017.
On December 12th and 13th, the Federal Open Market Committee (FOMC) is meeting and will likely raise the Federal Funds rate. Congress will be working to get through an updated tax plan which will affect the markets.
News about holiday shopping and employment will also play a key role in interest rate pricing.
If you are still thinking about refinancing, if you start now you can still miss December and January’s mortgage payment.
Below are today’s interest rates. Have a great week!!
MORTGAGE QUOTE / APPLY FOR A MORTGAGE:
For a no obligation mortgage quote, please answer questions at bottom of email or go to:
WWW.FREEMORTGAGEQUOTE.NET
To apply for a refinance or home purchase loan, please call me or go to:
http://reggiegreenhomeloans.com/apply-now/full-application-reggie-green/
MAJOR CHASE TO ARIZONA DOWN PAYMENT ASSISTANCE PROGRAM – HOME PLUS AND HOME IN 5
Effective, January 2, 2018 on all new HOME Plus reservations the assistance provided will be in the form of a three-year, no interest, no payment, deferred soft second mortgage, forgiven monthly at a rate of 1/36 over the term of the lien.
Currently, clients are utilizing down payment assistance programs to help get into their homes with little to no money down.
Down Payment Assistance program utilize higher rates than a traditional mortgage to help offset the grant money being paid. Many lenders are soliciting these borrowers right after closing to lower their rate.
This is a smart tactic, but it makes the program unsustainable as the higher rate is helping pay for the grant.
If they are immediately being paid off, the program is losing money.
Effective on all new Home Plus reservations after January 2nd – the grant will be a silent 2nd completely forgivable after 3 years.
This will create a combined loan to value likely over 100%, preventing lenders from coming in to immediately refinance the down payment assistance loans.
HOW CAN YOU USE THIS TO YOUR ADVANTAGE:
Once the silent 2nd goes into effect, it will be difficult for borrowers using down payment assistance to refinance shortly after closing.
But, they can still utilize the grant if they act fast and get under contract in December.
Once the silent 2nd goes into effect, borrowers will likely have to remain in a higher down payment assistance rate for a lot longer because of the higher combined loan to value and rate pricing is worse when you have 2 loans.
They will also have less equity if they sell within 3 years.
—
TEAM GREEN
Team Green is a top 1% originating mortgage team in the country. Everyone on our team has over 13 years of mortgage lending experience.
My team treats every transaction as an audition to earn your business for the rest of your life.
Have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.
TEAM GREEN LINE: 480-704-4890
TEAMGREEN@FAIRWAYMC.COM
Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, Fairway Independent Mortgage McCormick Ranch is 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. November 27th 2017 30 year fixed rates, November 28th 2017 30 year fixed rates, November 29th 2017 30 year fixed rates, November 30th 2017 30 year fixed rates, December 1st 2017 30 year fixed rates, December 2nd 2017 30 year fixed rates, December 3rd 2017 30 year fixed rates, December 4th 2017 30 year fixed rates.
WEEKLY RATE – FED RATE HIKE LIKELY COMING IN DECEMBER
Major Change to Arizona Down Payment Assistance
See below announcement from AZ housing.
Currently, clients are utilizing down payment assistance programs to help get into their homes with little to no money down.
Down Payment Assistance program utilize higher rates than a traditional mortgage to help offset the grant money being paid.
Many lenders are soliciting these borrowers right after closing to lower their rate.
This is a smart tactic, but it makes the program unsustainable as the higher rate is helping pay for the grant.
If they are immediately being paid off, the program is losing money.
Effective on all new Home Plus reservations after January 2nd – the grant will be a silent 2nd completely forgivable after 3 years.
This will create a combined loan to value likely over 100%, preventing lenders from coming in to immediately refinance the down payment assistance loans.
It will also create a higher mortgage balance between the two loans which will affect consumers trying to sell within 2 years.
HOW CAN YOU USE THIS TO YOUR ADVANTAGE:
Once the silent 2nd goes into effect, it will be difficult for borrowers using down payment assistance to refinance shortly after closing.
But, they can still do this if they act fast.
Once the silent 2nd goes into effect, borrowers will likely have to remain in a higher down payment assistance rate for a lot longer because of the higher combined loan to value and rate pricing is worse when you have 2 loans.
Speed up your home search and get under contract in December and you can still utilize the non repayable grant.
REGGIE GREEN / BRANCH MANAGER AT FAIRWAY INDEPENDENT MORTGAGE – MCCORMICK RANCH
480-206-5577 / TEAMGREEN@FAIRWAYMC.COM
The HOME Plus program will be making a change in the delivery of our down payment assistance.
Effective, January 2, 2018 on all new HOME Plus reservations the assistance provided will be in the form of a three-year, no interest, no payment, deferred soft second mortgage, forgiven monthly at a rate of 1/36 over the term of the lien.
This change is being driven by our master servicer, US Bank. And while this communication is strictly for the HOME Plus program, if you use other DPA programs in the State, serviced by US Bank, I expect you will receive similar communication in the near future.
The change will:
(1) Provide you further protection from “poaching” lenders and any associated claw back or EPO issues.
(2) Allow us to maintain our current lender compensation structure.
(3) Hopefully increase our “approved eligible” decisions. Many of my peers in other States experienced an increase in approval decisions when they changed their assistance from a grant to a community second.
All supporting documents connected with the new soft second mortgage will be embedded in our HTS Emphasys-Lender Online system and accessed and generated in the same manner that our current program documents are. We will require the deed of trust associated with the soft second mortgage to be recorded, which depending on the County is usually less than $75. ALL other program fees will remain the same.
The HOME Plus process flow will not change.
Updated HOME Plus Program Guidelines and sample documents we be available in the next few days. I will also keep the lines of communication open to insure a smooth transition into the new assistance method.
As always, I appreciate your interest in the HOME Plus program and value the partnerships we have cultivated. If you have any questions, just let me know.
Dirk Swift
Program Administrator
Office 602.771.1091 | Cell 602.319.9620
Website https://housing.az.gov/general-public/home-plus
Lender Online https://lenders.housing.az.gov
Congratulations on Your Closing – Sarah Green
CONGRATULATIONS ON YOUR CLOSING – SARAH GREEN.
Extra proud of babe for closing her real estate transaction in Chandler.
I wasn’t the lender but I had to make an ad to congratulate her anyways.
Congrats babe!!
#sarahgreen, #myhomegroup, #myhomegroupagent, #chandlerrealestateagent, #scottsdalerealestateagent, #cutewives, #congratulationsonyourclosing.
Congratulations on your closing – Schneider
CONGRATULATIONS ON YOUR CLOSING
Congratulations to our buyer who closed on his new home on Monday. This was a fun one with drama right to the very end. So happy for our friend John for this to close with a happy ending.
It was awesome working with Jay Johnson and Michele Wheeler at Vision Real Estate Services and Hender Adams at RE/MAX Professionals. Great job everyone and Congrats on your closing in Parker, Colorado 80134.
#congratulationsonyourclosing, #jayjohnson, #michelewheeler, #visionrealestateservices, #henderadams, #remaxprofessionals, #remax, #parkercolorado, #parkercoloradorealestate, #englewoodcolorado, #englewoodcoloradorealestae, #parkercoloradorealestateagent, #coloradorealestate, #fairwaynation, #fairwayindependentmortgage, #fairwayindependentmortgagemccormickranch, #teamgreen.
MORTGAGE SHOP QUARTET – TEAM GREEN
Mortgage Shop Quartet – Team Green.
Our 4 team members have over 65 years of lending experience and we have the capability and know how to handle any lending situation.
Please call Team Green at Fairway Independent Mortgage – McCormick Ranch for all your home financing needs.
We would love to work for you.
TEAM GREEN / 480-704-4890 / TEAMGREEN@FAIRWAYMC.COM
#mortgageshopquartet, #barbershopquartet, #85258, #scottsdalemortgagelender, #phoenixmortgagelender, #arizonamortgage, #fairwayindependentmortgage, #fairwayindependentmortgagemccormickranch, #teamgreen.
MORTGAGE SHOP QUARTET – TEAM GREEN
WEEKLY RATE – RATES IMPROVE TO 2 WEEK LOWS
WEEKLY RATE – RATES IMPROVE TO 2 WEEK LOWS
Interest rates improved last week and are now at about 2 week lows – though rate pricing isn’t a ton different then it was 2 weeks ago.
The Mortgage Backed Security Market closed the week trading up + 46 bps, and closed Monday, November 6th, 2017 up + 9 bps.
There was a ton of news last week but not so much this week.
Jerome Powell was picked by President Trump as the new FED chair. He is generally looked at as a positive for bonds and rate pricing. Learn more about him in this article in the New York Times:
The FED met and did not raise the Federal Funds Rate though they did change their classification of the economy as growing at a solid rate.
The Non Farm Payroll report came out on Friday and job creation came in at 261k versus an estimated 310k.
Republicans released their tax plan and if passed would be the biggest tax change since the 1980’s. Normally this one would be a positive for stocks and bad for rate pricing but there is skepticism that this will not pass without major revisions.
Not much news this week. Rate pricing is neutral right now with not much movement after a lot of major announcements last week.
Below are today’s interest rates. Have a great week!!
TODAY’S INTEREST RATES:
30 year fixed: 3.99% – .99 points (4.2% APR), 4.25% – 0 points (4.29% APR)
20 year fixed: 3.875% – .8 points (4.03% APR), 4.125% – 0 points (4.18% APR)
15 year fixed: 3.5% – .86 points (3.67% APR), 3.75% – 0 points (3.79% APR)
5/1 ARM: 3. 5% – .99 points (3.69% APR), 3.875% – 0 points (3.92% APR)
30 year fixed FHA: 3.99% – .90 points (4.87% APR), 4.25% – 0 points (4.95% APR)
15 year fixed FHA: 3.875% – .99 points (4.37% APR), 4.125% – 0 points (4.42% APR),
30 year fixed VA: 3.99% – .8 points (4.15% APR), 4.25% – 0 points (4.29% APR)
30 year Fixed Jumbo: 4.0% – .99 points (4.19% APR), 4.25% – 0 points (4.27% APR)
7/1 ARM Jumbo: 3.375% – .99 points (3.57% APR), 3.75% – 0 points (3.79% APR)
Have an amazing week and we’re always available if you need help with a new home loan purchase or refinance.
TEAM GREEN LINE: 480-704-4890
TEAMGREEN@FAIRWAYMC.COM
Reggie Green, Team Green, and Fairway Independent Mortgage in Scottsdale, Arizona, McCormick Ranch, Fairway Independent Mortgage McCormick Ranch is 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. November 8th 2017 30 year fixed rates, November 9th 2017 30 year fixed rates, November 10t11 2017 30 year fixed rates, November 11th 2017 30 year fixed rates, November 12th 2017 30 year fixed rates, November 13th 2017 30 year fixed rates, November 14th 2017 30 year fixed rates, November 15th 2017 30 year fixed rates.
WEEKLY RATE – RATES IMPROVE TO 2 WEEK LOWS
CONGRATULATIONS ON YOUR CLOSING – MATT HORTON AND JANICE TATOSIAN
CONGRATULATIONS ON YOUR CLOSING – MATT HORTON AND JANICE TATOSIAN
It was awesome working with Matt Horton at Realty One and Janice Tatosian at RE/MAX Professionals on the closing Phoenix home purchase in 85024.
Congratulations on your closing!!
#matthorton, #realtononey, #thehortonteam, #janicetatosian, #remax, #remaxprofessionals, #phoenixhomebuyer, #phoenixrealestateagent, #85024realestate, #arizonarealestate, #azrealestateagent,
#fairwayindependentmortgage, #fairwayindependentmortgagescottsdale, #fairwayindependentmortgagemccormickranch, #teamgreen.
Testimonial Tuesday – Team Green
Testimonial Tuesday – Team Green.
Our Team received 6 5 star reviews in the past week!
We are blessed to work with clients and agents that take time out of their day to review us and help our online presence.
Although we try to create some funny ads and not take ourselves seriously – behind the scenes we are a group that works very hard at our craft and we take pride in providing exceptional customer service and communication to everyone involved in the transaction.
Appreciate everyone that takes the time to review us – means a lot and we appreciate it!!
#testimonialtuesday,#fairwayindependentmortgage, #fairwayindependentmortgagemccormickranch, #teamgreen