Wishing you a Happy Holiday
and a Joyful New Year!
John Sauro, President
North Atlantic Mortgage Corp.
Helpful tips about purchasing a home from the experienced loan originators at North Atlantic Mortgage Corp. located in New York. We share valuable tips when it comes to buying a home and getting a low rate mortgage in the state of New York.
John Sauro, President
A stronger economy and a severe housing shortage have the nation’s homebuilders feeling better than they have in two decades.
Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since June 1999, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Anything above 50 is considered positive.
November’s reading was also revised higher by 1 point. The index stood at 56 last December. At the worst of the housing crash, in 2009, builder sentiment hit a low of just 8.
“Builders are continuing to see the housing rebound that began in the spring, supported by a low supply of existing homes, low mortgage rates and a strong labor market,” said NAHB Chairman Greg Ugalde, a homebuilder and developer from Torrington, Conn.
Builders’ confidence is clearly based on what they’re seeing in their showrooms. Of the index’s three components, current sales conditions rose 7 points to 84, sales expectations in the next six months rose 1 point to 79 and buyer traffic increased 4 points to 58.
All, however, is not perfect in the homebuilding market. Builders could likely be doing even better if they didn’t face so many headwinds.
“While we are seeing near-term positive market conditions with a 50-year low for the unemployment rate and increased wage growth, we are still underbuilding due to supply-side constraints like labor and land availability,” said NAHB chief economist Robert Dietz. “Higher development costs are hurting affordability and dampening more robust construction growth.”
Regionally, on a three-month moving average, builder sentiment in the Northeast fell 2 points to 61, increased 5 points in the Midwest to 63, gained a point in the South to 76 and increased 3 points in the West to 84.
Source: CNBC
Note: There is no application fee. ”No Bank Fees” means no Bank Underwriting fee, Tax service fee or flood insurance certificate. Appraisal, bank attorney and title fees are not included in this offer and are the borrower’s responsibility. The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $75,000 down on a $375,000 purchase price), a $300,000 15 year conforming loan amount, $395.00 in finance charges, 30 days prepaid interest, no points, 30 day rate lock, priced on 6/11/19. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing.
North Atlantic Mortgage Corp. 178 Trinity Pass Rd. Pound Ridge NY 10576 NMLS #1375, NYS Department of Financial Services A004210 Registered Mortgage Broker Loans Arranged Through Third Party Providers.
Interest Rates move up and down throughout the day. Most companies are unable to change rates intraday. We monitor and have access to those rates all day. That means you have access to those rates when they fall.
With rates still historically low, poised to move higher, many home buyers are moving quickly to finance their piece of the American Dream.
At North Atlantic you receive attentive personalized service
(see what our clients say).
The average time to close a loan is about 30 days.
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
The rate of 3.875% is for a 15 year fixed rate conforming loan amount of $484,350, with an APR of 3.804% and requires a Fico score of 740, a loan to value of 80% and is for a primary residence with a monthly payment of $2,243.11 and a discount fee of $1586.00.
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.
If you are looking for a list of top mortgage companies, we can provide you with this list. The best mortgage lender isn’t the same for everyone so we have compiled a list of best mortgage lenders for first time home buyers, those looking for their second home and home owners looking to refinance their New York mortgage. Whether you are buying a new home or refinancing we have the best mortgage lender for you.
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!
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.
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
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!
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