Phoenix Mortgage Lender

Never let a date go by when you could let your clients know you appreciate their business

Never let a date go by when you could let your clients know you appreciate their business


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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%

WEEKLY RATE – Interest Rates Reverse Course and Improve

WEEKLY RATE – Interest Rates Reverse Course and Improve

After moving up much of the prior week and a half, mortgage interest rates found some positive momentum, improving 5 of the last 7 days.

The Mortgage Backed Security (MBS) market closed last week up + 34 bps and is trading this week up + 39 bps.  The bond markets trading up is a positive for interest rates.

Most investor eyes this week are on the announcement by the European Central Bank on Thursday.  The main topic of interest is how far away the Bank is from tapering it’s balance sheet.  I expect rate pricing to moderately improve before the announcement but the actual announcement is a high risk event.

Even if the announcement is seen as a positive for interest rates, I don’t see rates moving a ton lower than current levels without a major stock market correction or an unforeseen event that moves markets.  That being said, most indicators are that the stock market is over valued at the moment so a correction is not out of the question.

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:

 

 

 

 

 

 

 

Fairway is a top 10 retail lender in the country based on funded volume.  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. 

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

TODAY’S INTEREST RATES:

30 year fixed:       3.99% – .86 points (4.16% APR),       4.25% – 0 points (4.28% APR),    4.375% – $0 costs (4.375% APR)

20 year fixed:       3.875% – .53 points (3.98% APR),     3.99% – 0 points (4.1% APR),  4.25% – $0 costs (4.25% APR)

15 year fixed:        3.25% –  1 point (3.45% APR),        3.625% – 0 points (3.767% APR),     3.99% – $0 costs (3.99% APR)

5/1 ARM:        3.375% – 1 point (3.57% APR),      3.875% – 0 points (3.99% APR)    

30 year fixed FHA:        3.875% – .9 points (4.75% APR),      4.25% – 0 points (4.95% APR),     4.5% – $0 costs (outside of FHA Fee) (5.2% APR)

15 year fixed FHA:        3.625% – 1 point (4.125% APR),      4.0% – 0 points (4.3% APR),    

30 year fixed VA:        3.875% – .9 points (4.05% APR),     4.25% – 0 points (4.29% 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:        3.125% – .99 points (3.32% APR),      3.5% – 0 points (3.55% 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.  July 19th  2017 30 year fixed rates, July 20th 2017 30 year fixed rates, July 21st 2017 30 year fixed rates, July 22nd 2017 30 year fixed rates, July 23rd 2017 30 year fixed rates, July 24th  2017 30 year fixed rates, July 25th 2017 30 year fixed rates, July 26th 2017 30 year fixed rates.

WEEKLY RATE – Interest Rates Reverse Course and Improve

TESTIMONIAL TUESDAY – TEAM GREEN.

TESTIMONIAL TUESDAY – TEAM GREEN.

Always great to get a nice review from a repeat client. Thanks Tim – we really appreciate you trusting Team Green on your 1st and 2nd transaction with us. Thank you for your business!! #builtoncustomerservice, #teamgreen, #fairwayindependentmortgagecorporation, #fairwaymortgagemccormickranch, #scottsdalemortgageteam, #arizonamortgage, #wedomortgages.

Reggie and his team are the best refinance team you could ask for!!!!!
We were updated on the progress and were treated like family!!! I would recommend Reggie and his team to anyone looking to buy or refinance a property!

-Tim

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