Category Archives: Mortgage
19 JanRecord Low Interest Rates…The Whole Story
You may have seen recent news clips talking about RECORD LOW RATES like this one: Housing struggles despite mortgage rates hitting new low or this one: Fannie Fees Fail to Offset Record Low Lending Rates: Mortgages or this one: 30-year mortgage rates at new low I think you get the idea! You might be thinking [...]
Read More ...10 JanHigher Mortgage Rates Coming April 1, 2012
No, we don’t have a crystal ball but we do know that rates are going to increase on April 1, 2012. The Wynn Team is always monitoring the real estate and mortgage industries for news that can impact our customers and real estate agent partners. News about a guaranteed jump in rates is something we [...]
Read More ...22 DecAdam & Emily’s Home Purchase Experience
We would like to share with you a story of one of our customers and their recent home purchase… On Saturday, October 29th we received a phone call on our cell phone from one of the best real estate agents around, Patrick Clowes. Patrick was calling about a customer of his who was interested in submitting [...]
Read More ...22 NovFive Hurdles to Mortgage Qualifying
Everyone has heard of the tightening of the credit market but what does that really mean to you? What does that really mean to you as a home buyer? Over approximately the past six years we have gone from a race around a track to get a loan approved to a hurdle race. Let me [...]
Read More ...20 JunIt’s Official – Now is the Time to Buy!
When to buy a home is a huge personal decision to make. Every person or family needs to make the decision to buy on a variety of factors including their family budget, current housing situation, funds available for down payment, job security and so on. Outside of the individual factors in deciding to make a [...]
Read More ...30 SepFHA UFMIP Change October 4, 2010
On August 5, 2010 we told you about the possible change to FHA mortgage insurance. We then updated you on August 11 that the effective date would be October 4 (that’s Monday!). The Changes FHA up-front mortgage insurance (UFMIP) will drop from 2.25% to 1%. FHA monthly mortgage insurance will increase from .55% to .9%. [...]
Read More ...31 AugNext Round of Home Buyer Tax Credit is a Bad Idea
Coming from a mortgage lender you might expect that we would be hopeful, even anxious, about a new home buyer tax credit, right? Well, not us and here is why… Each time the government has announced a home buyer tax credit business increases temporarily. After the expiration of the tax credit the buyers seem to [...]
Read More ...29 AugValue of REAL Pre-Approval
INTERESTING STATISTIC – One of my colleagues shared with me an amazing statistic: Almost 30% of real estate transaction in the US are falling through AFTER GOING UNDER CONTRACT. I don’t know about you – but I want to do what I can to prevent things from falling apart that I have responsibility for, especially [...]
Read More ...26 AugHow Affordable is Housing in Colorado?
How do you determine whether you can afford something? Typically this is an individual or family decision based on your personal budget, funds available and your goals. When I think of whether I can afford something I am normally thinking about a smaller purchase or subscription like a TV, internet or a vacation. What about [...]
Read More ...12 AugWhen is Mortgage Insurance Required?
jscreationzs/freedigitialphotos.net When is Mortgage Insurance Required? The three main mortgage types include Conventional, FHA and VA. Each have their own types of mortgage insurance each with a different name but all do the same thing – protect the lender for a portion of the mortgage in the case you default (foreclose). Conventional Conventional loans normally [...]
Read More ...