Refinance with improved HARP Program in Arizona and California

by Alberto Madrid  by

Many homeowners in Arizona and California will find out if they will be able to refinance their “upside down” homes tomorrow.  The Initial “HARP”  Home Affordable Refinance Program was rolled out in 2009.  It was designed to help refinance “underwater” homeowners that owe more than their homes are worth.  Since the program had very little success [...]

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Are your buyers using a USDA Rural Housing Loan? Act fast!

October 1st, 2011. Remember this date. On this date, one of the key features of a USDA Rural Housing home loan will change. You see, currently a USDA loan carries no monthly mortgage insurance. Much like a VA loan, the USDA loan has an up front fee, called a guarantee fee, and no monthly mortgage [...]

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100% Financing for USDA loans in Arizona and California

Unless you’re a qualified veteran, the days of 100% financing in Arizona and California are pretty much unheard of.  However, there is this little kept secret called USDA Rural Housing program that allows 100% financing. What does this mean for me? Simple, it means that if you are looking for a new home in the [...]

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Academy Mortgage: #1 Independent Lender in the United States? You Better Believe It!

So, I’m sipping coffee this morning and an email pops up.  It’s from my big wig boss, whom I’ve not had the pleasure of meeting in person yet.  It says that the results are in.  Academy Mortgage is now in the #1 position of independent lenders in the United States. I knew we were good, [...]

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TenDayClose.com and Academy Mortgage: Why we made the move.

Recently our team made a move over to, what I would consider, our chief competitors.  The old saying goes, “if you can’t beat ‘em, join ‘em”.  …and we did. Academy Mortgage is home to Ten Day Close, and is the #3 mortgage company in Maricopa County, behind Bank of America and Wells Fargo. Academy Mortgage [...]

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Interest Rate Lock or Float: Protect your Arizona Mortgage

The million dollar question:  When is the best time to lock my interest rate?  The obvious answer: When home loan rates are at their lowest.  The problem is that loan officers don’t really have a crystal ball.  With that being said, some home loan professionals utilize financial market  indicators that can help them advise home [...]

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What’s Ahead For Mortgage Rates This Week : February 22, 2010

Mortgage markets had a terrible, holiday-shortened week last week as Wall Street responded to worse-than-expected inflation data and action from the Federal Reserve.  Mortgage bonds sold off with force, causing mortgage rates to rise for the second week in a row. Last week was a bad week to float a mortgage, to say the least. [...]

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HomePath, Welcome Home. Buy a House with Low Down, No PMI, No Appraisal? Yes!

HomePath loans from Fannie Mae provide home buyers an opportunity to purchase a home with low down payment, no PMI, no appraisal, and Seller paid closing costs. Owner Occupants and Investors are welcome to enjoy the benefits of HomePath.

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It’s Getting Harder to Get Approved for a Home Loan

The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening. The data comes from the Federal Reserve’s quarterly survey to its member banks.  The Fed asks senior bank loan officers around the country to report on “prime” residential mortgage guidelines over the most [...]

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What’s Ahead For Mortgage Rates This Week : February 8, 2010

Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week. Mortgage rates are now at a 6-week low but probably shouldn’t be.  It underscores just how important global [...]

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