Fairway Independent Mortgage McCormick Ranch

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

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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 – 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

CONGRATULATION ON YOUR CLOSING – MATT HORTON AND ROGER WRIGHT

CONGRATULATION ON YOUR CLOSING – MATT HORTON AND ROGER WRIGHT

Great working with these awesome agents Matt Horton at Realty One and Roger Wright at Century 21 Toma Partners on a Tempe investment property in 85282 that closed last week.

Congratulations on your closing!!

#matthorton, #realtyone, #rogerwright, #century21, #century21tomapartners, #temperealestate, #temperealestateagents, #arizonarealestate, #tempeinvestmentproperties, #fairwayindependentmortgage, #fairwayindependentmortgagemccormickranch, #teamgreen.

CONGRATULATION ON YOUR CLOSING – MATT HORTON AND ROGER WRIGHT

HEART OF SCOTTSDALE RMS HOME TOUR – NOVEMBER 2ND

HEART OF SCOTTSDALE RMS NOVEMBER 2ND, 2017

Team Green and Fairway Independent Mortgage McCormick Ranch is a Gold Sponsor and is holding lunch for the Heart of Scottsdale RMS tour this Thursday starting at 8:00 am.

Come by and check out 9 homes ranging from $358,000 to $798,000 in the Gainey/McCormick Ranch. We will providing Pita Jungle for lunch at the last home.

We would love to see our friends and you may even see your boy (me) fumble some public speaking lines 🙂

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

#heartofscottsdale, #heartofscottsdalehometour, #heartofscottsdalerms, #scottsdalehometour, #arizonahometour, #pitajungleforlunch, #youmayevenseesarahgreenwhoishelpingmewiththelunch, #gaineyranchrealestae, #mccormickranchrealestate, #fairwayindendentmortgage, #fairwaynation, #fairwayindependentmortgagemccormickranch, #teamgreen.

 

 

 

 

 

 

HEART OF SCOTTSDALE RMS HOME TOUR – NOVEMBER 2ND

TEAM GREEN WELCOMES BRIAN JOHNSON TO FAIRWAY

TEAM GREEN WELCOMES BRIAN JOHNSON TO FAIRWAY

I’m so excited to announce the newest addition to our team – Brian Johnson.

Brian Johnson is an amazing hire for Team Green and I want to tell you why:

#1 – Brian is a Vegan. He will help us relate better to our Vegetarian/Vegan borrowers and referral partners.

Many teams go after a Spanish Speaking LO first. We went after a Veggie Eater first.

 

#2 – Brian has over 14 years of experience and was brought up in the mortgage business by his Dad, who is a highly successful mortgage originator in California.

Now when you work with Team Green, no one you talk to will have less than 13 years of experience ( at that’s me at 13 years 😦 )

 

#3 – Lastly, Brian is truly one of the smartest loan officers I’ve ever met. He is very gifted at memorizing all the guidelines and he will be a huge resource for our team.

Team Green just got a lot smarter (though, we weren’t that bad to begin with).

Brian Johnson simply makes our team better.

And that’s what it’s all about.

Welcome to Fairway Brian – we’re awfully glad to have you.

#brianjohnson, #veganlender, #teamgreen, #fairwayindependentmortgagemccormickranch

TEAM GREEN IS NOW OFFERING LISTING BOOSTER TO ALL OUR AGENT PARTNERS

Team Green is now offering Listing Booster to all our agent partners.

Listing Booster is a service that maximizes your listings exposure while simultaneously creating new leads from that listing.

Almost all features are automated directly from any new listings you post on MLS.

Below are some of the main features.

• Property websites
• Lead capture virtual tours
• Lead capture text codes
• Integrates your listings to your Facebook Page
• Youtube video for your listing
• Craig’s List post
• Lead Capture Squeeze Page
• Flyers
• Listing Presentation
• Leads from your Zillow and Trulia listing

Please watch the video below and contact me if you would like me to sign you up.

TEAM GREEN IS NOW OFFERING LISTING BOOSTER TO ALL OUR AGENT PARTNERS

WEEKLY RATE – TABLE IS SET FOR HIGHER RATES

WEEKLY RATE – TABLE IS SET FOR HIGHER RATES

Interest rate pricing had a bad week.

The Mortgage Backed Security (MBS) market closed down heavily 3 of the 5 days, finishing the week closing down – 54 bps.

More importantly, the table is set for potential rapid rate increases.

The Senate passed the budget, opening the door for a Trump tax reform coming. Lower taxes are looked upon favorably by stocks, but the bond and rate markets typically move in a opposite direction. If tax reform causes stocks to continue their rapid incline, rates will be hurt with less interest in bonds.

There is also speculation that Janet Yellen (generally having been favorable for low interest rate pricing) may not be the next FED Chair.

The table is set and the potential is there for rapid rate increases in the future. Lock your rates. Don’t wait on the sidelines hoping rates will drop again.

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% – .7 points (4.01% APR),     4.125% – 0 points (4.17% APR)

15 year fixed:        3.5% –  .86 points (3.67% APR),        3.75% – 0 points (3.79% APR)

5/1 ARM:        3.375% – .99 points (3.57% APR),     3.875% – 0 points (3.92% APR)    

30 year fixed FHA:        3.99% – .99 points (4.9% APR),     4.375% – 0 points (5.07% 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),     4.375% – 0 points (4.41% APR)

30 year Fixed Jumbo:     4.0% – .85 points (4.17% APR),     4.25% – 0 points (4.29% APR)

7/1 ARM Jumbo:        3.375% – .86 points (3.55% APR),     3.625% – 0 points (3.67% APR)

MORTGAGE QUOTE / APPLY FOR HOME LOAN:

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:

 

 

 

 

 

 

 

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 purchase loan 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.  October 23rd, 2017 30 year fixed rates, October 24th 2017 30 year fixed rates, October 25th 2017 30 year fixed rates, October 26th 2017 30 year fixed rates, October 27th 2017 30 year fixed rates, October 28th 2017 30 year fixed rates, October 29th 2017 30 year fixed rates, October 30th 2017 30 year fixed rates.

WEEKLY RATE – TABLE IS SET FOR HIGHER RATES

Scottsdale’s Gonzo Mortgage Lenders – Team Green.

Scottsdale’s Gonzo Mortgage Lenders – Team Green. #weredifferent, #gonzolenders, #teamgreen, #fairwayindependentmortgagemccormickranch.

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