Author Archive: John Sauro

Lower Mortgage Payments by 23% with Exceptional Loan Requiring No Traditional Income Verification

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A little known home loan is now available through mortgage specialists to homeowners and buyers with payments about 23% lower than conventional mortgages.  Coupling this dramatic cut with paying off high interest rate credit card debt or equity loans is called “Equity Repositioning” and is saving homeowners thousands of dollars.

There are numerous stories of self-employed individuals consolidating 18%-21% credit card debt they have had to use for business reasons and need to re-stabilize their financial picture.  Many wonder why they haven’t been informed about this unique loan.  One reason is this loan isn’t as profitable to lenders as other loans, so they’re not easy to find.

Here’s what one person had to say: “I was looking for a creative type of financing package not available at most other banks or mortgage companies.  North Atlantic financed my home by using a very unique type of loan that caters to Entrepreneurs like myself.  Now, I’m not an easy person to please and I’ve dealt with other banks and mortgage companies in the past and none of them can compare to North Atlantics expert consultation, competence and professional service.

My compliments and appreciation to the staff of North Atlantic Mortgage.”

William M.

You could actually benefit right now by refinancing, credit cards, high end equity lines and most importantly get a great loan with no traditional income verification.  If you are a self-employed business owner, doctor, real estate investor or a high income individual, there are many other savvy “secrets” and various loan options that you probably aren’t aware exist.

Simply call 1-877-794-5363 to speak with a consultant.  You’ll be pleasantly surprised with the information you receive.

Where Home Prices Are Accelerating

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Miami, Austin-Round Rock, and Cape Coral-Fort Myers remain the most overvalued metro areas in the nation, according to CoreLogic’s HPI Forecast Validation Report.

The report noted that Bridgeport-Stamford-Norwalk metro continued to be the most undervalued market with a population size of over 700,000 with Hartford-West Hartford-East Hartford closely following.

The report compares the 12 months CoreLogic Home Price Index (HPI) forecast to the actual CoreLogic HPI data and compares the changes in national and key core-based statistical areas (CBSA)-level forecasts. The current report notes data changes from November 2017 to November 2018.

However, the report noted that some major metros were experiencing a large absolute price change over the last 12 months and that CoreLogic was monitoring these areas. “Many of these major metros have had complex economic, market demand and supply factors over the last year,” the report said.

According to the report, the national prediction of a 4.7 percent increase was within 0.1 percent of the 4.8 percent increase of the HPI during the period under review. While the most accurate CBSA-level forecast was for the Cambridge-Newton-Framingham, Massachusetts region which came on target of the actual HPI increase of 5.5 percent. The widest CBSA gap was for San Diego, California, a market that was over-estimated by 6.4 percent compared to the actual increase.

This gap, CoreLogic said was because of a downturn of overall demand, combined with concern over long-term affordability.

Apart from San Diego, the report said that Philadelphia, Pennsylvania; Atlanta, Georgia; and Fort Worth, Texas were among the three other areas that were at the high end of the forecasting gap. While the Philadelphia market was slow to recover after the housing crisis, the market saw home price appreciation exceeding 5 percent for the first time since 2006, last spring.

Atlanta, on the other hand, had exhibited a very strong, higher-than-expected year-over-year increase due to the limited inventory of homes. This in a market where construction has traditionally kept up with the demand for housing.

The Dallas-Fort Worth economy grew at twice the national rate with 3.2 percent versus 1.6 percent annual job gains in August 2018. The report noted that although home construction in this CBSA had returned to pre-bubble rates, “housing supply may not be keeping up with population growth.”

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

Source. MReport

Are no-doc mortgages still available?

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Some lenders are still making no-doc mortgages. However, credit expectations are significantly higher now and the loans are more expensive for consumers to get. Borrowers may need “very good” or “excellent” credit now instead of “fair” credit, and no-doc loans can come with a higher interest rate than a traditional home loan. Still, these loans are essential for borrowers with high but irregular incomes since even those who work on commission or the self-employed need to be able to borrow money for a home.

A lot of people have a low taxable income, too. It may be obvious from your bank statements that you generate a lot of cash, but that doesn’t mean it is reflected as a high income on your taxes. If a lender is just looking at the bottom line on your 1040s, it may not account for your actual cash flow after tax adjustments like depreciation and carried-over losses from previous years.

In addition, no-doc loans are still available for business purposes since commercial and business loans weren’t impacted by the post-housing crisis regulations.

Self-employed and no income verification mortgages

Fortunately, there are still ways to get a mortgage if you’re self-employed or have a fluctuating or hard-to-prove income.

Self-employed borrowers are certainly eligible for full document loans but they also have the option of bank statement loan programs not available to W-2 wage earners.

With this type of loan, self-employed borrowers may be able to use 24 months of bank statements to demonstrate a specific pattern of cash flow that meets the Ability-to-Repay requirement. In this case, you may need to provide additional documentation on top of your bank statements, such as proof of your other debts. You may also need to save up at least 20% of your home’s purchase price to qualify. However, there are a variety of formulas used by lenders to determine which type of documentation is required and other lending criteria.

Many self-employed borrowers have the ability to repay, but they are unable to demonstrate that with traditional use of tax returns due to extensive write-offs. A bank statement loan program can help them prove cash flow and income regardless of what their tax returns say.

There are some criteria that can help the self-employed or commission-based workers secure a mortgage, whether they opt to go with a traditional lender or pursue a no-doc loan.

Tips include:

  • Save up a big down payment. You want to save up a big chunk of money to put down on your home — hopefully at least 20%. The bigger your down payment, the more likely you are to qualify for a home loan.
  • Make sure your credit score is as high as it can be. You’ll need very good credit to improve your chances of getting a home loan with the best terms. Typically, “very good” credit includes any FICO score of 740 or higher. If your credit score is lagging, you should take steps to improve it such as paying down debt to lower your credit utilization and making sure all your bills are paid on time.
  • Pay down debt to improve your debt-to-income ratio. Most mortgage lenders limit qualified mortgages to borrowers with a debt-to-income ratio below 43%. This means that all your debts including your housing costs must make up less than 43% of your gross income each month. If you earn $5,000 per month, for example, your monthly debts including your house payment should be less than $2,150.
  • Get your tax returns together. It’s pretty standard for lenders to ask for two years of tax returns during the loan application process. However, you may not need two years of tax returns if you opt for a bank statement loan program.

Final thoughts

No-doc mortgages may not be as prevalent as they once were, but you can still get a home loan if you’re self-employed or have a highly variable income. You’ll have to jump through more hoops to qualify, but you are protected from some of the predatory lending practices that were commonplace until the financial crisis.

Ultimately, changes made in the realm of mortgage lending such as the Dodd-Frank Ability-to-Repay rule were necessary to not only protect investors, but also borrowers. With stricter requirements in place, homebuyers are much less likely to end up in a home they can’t afford — although that often means borrowing less than they want.

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 914-764-3261
Email: JohnSauro@Gmail.com

Where Home Prices Are Accelerating

Posted on by

Miami, Austin-Round Rock, and Cape Coral-Fort Myers remain the most overvalued metro areas in the nation, according to CoreLogic’s HPI Forecast Validation Report.

The report noted that Bridgeport-Stamford-Norwalk metro continued to be the most undervalued market with a population size of over 700,000 with Hartford-West Hartford-East Hartford closely following.

The report compares the 12 months CoreLogic Home Price Index (HPI) forecast to the actual CoreLogic HPI data and compares the changes in national and key core-based statistical areas (CBSA)-level forecasts. The current report notes data changes from November 2017 to November 2018.

However, the report noted that some major metros were experiencing a large absolute price change over the last 12 months and that CoreLogic was monitoring these areas. “Many of these major metros have had complex economic, market demand and supply factors over the last year,” the report said.

According to the report, the national prediction of a 4.7 percent increase was within 0.1 percent of the 4.8 percent increase of the HPI during the period under review. While the most accurate CBSA-level forecast was for the Cambridge-Newton-Framingham, Massachusetts region which came on target of the actual HPI increase of 5.5 percent. The widest CBSA gap was for San Diego, California, a market that was over-estimated by 6.4 percent compared to the actual increase.

This gap, CoreLogic said was because of a downturn of overall demand, combined with concern over long-term affordability.

Apart from San Diego, the report said that Philadelphia, Pennsylvania; Atlanta, Georgia; and Fort Worth, Texas were among the three other areas that were at the high end of the forecasting gap. While the Philadelphia market was slow to recover after the housing crisis, the market saw home price appreciation exceeding 5 percent for the first time since 2006, last spring.

Atlanta, on the other hand, had exhibited a very strong, higher-than-expected year-over-year increase due to the limited inventory of homes. This in a market where construction has traditionally kept up with the demand for housing.

The Dallas-Fort Worth economy grew at twice the national rate with 3.2 percent versus 1.6 percent annual job gains in August 2018. The report noted that although home construction in this CBSA had returned to pre-bubble rates, “housing supply may not be keeping up with population growth.”

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

Source. MReport

Thinking Of Selling Your House? This Is A Perfect Time!

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It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their homes on the market until then. The question is whether or not that is a good strategy this year.

The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison to the rest of the year? The National Association of Realtors (NAR) recently revealed the months during which most people listed their homes for sale in 2018. This graphic shows the results:

Thinking of Selling Your House? This is a Perfect Time! | Keeping Current Matters

The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,520,000.

That number spiked to 1,870,000 by May!

What does this mean to you?

With the national job situation improving and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now.

Bottom Line

If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers. Beat the rush of housing inventory that will enter the market and list your home today!

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

Source KCM

Is The Recent Dip In Interest Rates Here To Stay?

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Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.

After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief EconomistSam Khater notes, this is great news for homebuyers. He states,

“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”

In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market!

Will This Trend Continue?

According to the latest forecasts from Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors, mortgage rates will increase over the course of 2019, but not at the same pace they did in 2018. You can see the forecasts broken down by quarter below.

refinance, new york home loan. mortgage,15 year mortgage, preapproval

Bottom Line

Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, meet with a local real estate professional who can help prepare you to take action.

 

 

 

 

 

 

 

 

 

source: keeping current matters

 

Buying A Vacation Property? Now Is A Good Time!

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NYS Loans, Mortgages, Real estate loans, home buyers, refinance, home purchase

Every year around this time, many homeowners begin the process of preparing their homes in case of extreme winter weather. Some others skip winter all together by escaping to their vacation homes in a warmer climate.

For those homeowners staying at their first residence, AccuWeather warns:

“The late-week cold shot should fade next week, but this is a warning shot for winter’s return late in the month and early February.”

Given this, it’s time to go and stock up on winter weather supplies! However, if you’re tired of shoveling snow and dealing with the cold weather, maybe it’s time to consider obtaining a vacation home!

According to the Investment & Vacation Home Buyers 2018 Report by NAR:

“72% of vacation property owners and 71% of investment property owners believe now is a good time to buy.”

It’s time to take advantage of the equity in your home. As the latest Equity Report from ATTOM Data Solutions stated:

“Nearly 14.5 million U.S. properties (are) equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value — up by more than 433,000 from a year ago to a new high as far back as data is available, Q4 2013.

The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage.”

This means that over a quarter of Americans who have a mortgage would be able to use some of their home equity to make a significant down payment toward a vacation home, and many are doing just that! According to the same report by NAR:

“33% of vacation buyers purchased in a beach area, 21% purchased on a lakefront, and 15% purchased a vacation home in the country.”

Many homeowners who are close to retirement will use some of their equity to purchase vacation homes, which may eventually become their permanent homes post-retirement!

Bottom Line

If you are a homeowner looking to take advantage of your home equity by investing in a vacation home, contact an agent in your area to discuss your options!

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

Source: Keeping Current Maters

Want To Get The Most Money From The Sale Of Your Home? Use These 2 Tips!

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Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

 

NY Real estate, westchester realtors, refinance, home loan, mortgage rates

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

HGTV gives this advice:

“First impressions are everything when selling your home. Studies have shown that the first two weeks on the market are the most crucial to your success. During these initial days, your home will be exposed to all active buyers.

If your price is perceived as too high, you will quickly lose this initial audience and find yourself relying only on the trickle of new buyers entering the market each day. Markets are dynamic, and your price has an expiration date. You have one chance to grab attention. Make sure your pricing helps you stand out on the shelf — in a positive way.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may believe that he or she will make more money without having to pay a real estate commission, but studies have shown that homes typically sell for more money when handled by a real estate professional.

Research by the National Association of Realtors in their 2018 Profile of Home Buyers and Sellers revealed that,

“the median selling price for all FSBO homes was $200,000 last year. However, homes that were sold with the assistance of an agent had a median selling price of $264,900 – nearly $65,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the money you get for your house.

 

 

 

 

 

 

 

Source: KCM

Buying a Home?- Here’s What to Watch

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As we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter house to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory.

Interest Rates

Mortgage interest rates had been on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates climbed to 4.94% in November before falling to 4.62% for a 30-year fixed rate mortgage last week. Despite the recent drop, interest rates are projected to reach 5% in 2019.

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows the impact that rising interest rates would have if you planned to purchase a $400,000 home while keeping your principal and interest payments between $2,020-$2,050 a month.

NY Refi, Real Estate, Credit score, mortgage

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000).

Inventory

A ‘normal’ real estate market requires there to be a 6-month supply of homes for sale in order for prices to increase only with inflation. According to the National Association of Realtors (NAR), listing inventory is currently at a 3.9-month supply (still well below the 6-months needed), which has put upward pressure on home prices. Home prices have increased year-over-year for the last 81 straight months.

The inventory of homes for sale in the real estate market had been on a steady decline and experienced year-over-year drops for 36 straight months (from July 2015 to May 2018), but we are starting to see a shift in inventory over the last six months.

The chart below shows the change in housing supply over the last 12 months compared to the previous 12 months. As you can see, since June, inventory levels have started to increase as compared to the same time last year.

Real Estate, home buyers, credit scores, cash out refinance, mortgage, home loan, new york

This is a trend to watch as we move further into the new year. If we continue to see an increase in homes for sale, we could start moving further away from a seller’s market and closer to a normal market.

Bottom Line

If you are planning to enter the housing market, either as a buyer or a seller, make sure that you have an experienced local Mortgage Professional who can help you navigate the changes in mortgage interest rates and inventory.

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

Source. Keeping Current Matters

Refinance Again? Why?

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Because the 2018 Fannie/Freddie loan limits are in and that may mean big savings for many.

The new loan limits are $484,350 for Conforming loans and $726,525 for Hi Balance loans.

Let’s say the last time you took out a loan, the balance was above the old $453,100 (2017 conforming limit) or just above $636,150 (the old 2017 hi baance limit).  You would have paid a substantially higher rate then if you were below those limits.  Therfore, due to the new higher loan limits, you may be able to lower your interest rate and monthly payments.

Find out what this means for you.

Call us at 877-794 5363

 We’ll do a quick analysis to see how much you can save on your mortgage.

WASHINGTON, D.C. (November 28, 2018) – Mortgage applications increased 5.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2018. This week’s results include an adjustment for the Thanksgiving holiday.

“After several weeks of market volatility, 30-year fixed mortgage rates decreased four basis points to 5.12 percent last week. Homebuyers responded, with purchase applications 1.7 percent higher than a year ago, and after adjusting for the Thanksgiving holiday, they increased almost 9 percent from the previous week,” said Mike Fratantoni, MBA’s Chief Economist. “The rise in purchase activity was led by conventional purchase applications, which surged almost 12 percent, while government purchases were essentially unchanged over the week. This also pushed the average loan size for purchase applications higher, which likely meant there were fewer first-time homebuyers in the market last week.”

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) decreased to 5.12 percent from 5.16 percent, with points decreasing to 0.46 from 0.48 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $453,100) remained unchanged at 4.88 percent, with points increasing to 0.31 from 0.29 (including the origination fee) for 80 percent LTV loans. The effective rate remained unchanged from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 5.11 percent from 5.08 percent, with points remaining unchanged at 0.63 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages remained unchanged at 4.53 percent, with points remaining unchanged at 0.51 (including the origination fee) for 80 percent LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs increased to 4.29 percent from 4.24 percent, with points decreasing to 0.42 from 0.51 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.

Refinancing or Buying-

Home Financing doesn’t have to be Stressful.
We monitor real time interest rates, so our clients are able to access some of the lowest rates available.
With rates still historically low, poised to move higher, many would be home buyers are moving quickly to finance their piece of the American Dream.

Existing home owners have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan.
At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me it’s a great deal easier with our help and expertise. The average time to close a loan is about 30 days. We understand the guidelines and know what different lenders can do, which increases your opportunities for a fast easy loan with a great rate.

Don’t put it off any longer and start saving with a lower mortgage payment.
There’s no salesman to speak with only qualified mortgage experts.

For a Free Consultation:
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com

Sources: MBA, Fannie Mae

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