Latest News

Get $8000 Tax Credit up FRONT

The Department of Housing and Urban Development issued guidance that opens the door for FHA-approved lenders to provide short-term loans — with restrictions — to borrowers who are eligible for the $8,000 first-time home buyer tax credit.

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Green Lending - Energy Efficient Mortgage

 

 

 

Truth is there really isn't any incentive for a bank or lender to offer you anything for having a more "green friendly" home. Banks care about one thing and one thing only, the bottom line. They lend you money regardless of what it is secured against or what the colateral is and you pay them monthly payments with a margin of profit on top called interest. So how you build a home means nothing to them.

Where your benefit comes from is the tax incentives offered by the government. Either local, state or Federal. If your government wants you to be more environmentally aware then they many times offer you tax benefits for improving the construction and energy efficiency of your home. SO, you are better served contacting a CPA or a government office, FHA, VA etc and asking what kind of tax benefits there are for you building or improving your home to be more earth friendly.

There is one lending benefit to green building and that is what is called the Energy Efficient Mortgage or EEM. An EEM captures the savings the homeowner will receive from energy-efficient improvements over the life of the improvement and treats that savings as income. With more income, the borrower can qualify for a larger loan that covers a purchase or refinance as well as the cost of energy-efficient improvements.

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NEW DU Refinance Plus

Fannie Mae has introduced "Desktop Underwriter (DU) Refi Plus™", a new program designed to reignite the mortgage industry by streamlining the refinance process for potentially millions of Americans. Fannie Mae has loosened the rules for homeowners seeking lower monthly payments.

 

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Rates Drop to Lowest since WW 2

By Brian Louis - Bloomberg (03/20/2009)

March 19 (Bloomberg) -- U.S. mortgagerates may fall to the lowest since World War II on the Federal Reserve’s plan to buy up to $300 billion of Treasuries and increase purchases of mortgage-backed bonds.

Rates for 30-year fixed home loans dropped to 4.98 percent this week,Freddie Mac said today. They may reach 4.5 percent as the Fed’s purchases progress, said Mike Larson, real estate analyst at Weiss Research in Jupiter, Florida.

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What's In the Foreclosure Prevention Plan

February 19, 2009

The Obama administration yesterday released its long-awaited plan to stem foreclosures. It's organized into three categories:

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Daily Rate Lock Advisory

 

Rate Lock Advisory - Wednesday Jul. 1st 



Wednesday's bond market has opened in negative territory following stock gains and a little stronger than expected economic report. The stock markets are rebounding from yesterday's losses with the Dow up over 100 points and the Nasdaq up 22 points. The bond market is currently down 8/32, but we likely see little change in this morning's mortgage rates due to strength in trading late yesterday.

For full report click HERE.

 

"Our Name Says It All..."

At Mortgage Professionals our name says it all! We pride ourselves on being able to provide the most helpful information, knowledge, experience, products, and rates available to our clients. Many times when borrowers shop for mortgages they just come across loan officers and NOT professionals and that’s where we come in. We are brokers with mortgage lending experience and with that comes an unmatched vision of what being a mortgage professional should really be. Mortgage Professionals, LLC offers you every aspect of lending you could need: refinances, purchases, equity lines of credit, debt consolidations, construction loans, residential, commercial mortgages and more. All types of credit be it perfect A + credit or not so good D; credit we can do it all; credit scores ranging from 580 – 830+. If you have not so good credit history we can even try to fix it for you. We can do all types of mortgage loans like: conventional, jumbo, super jumbo, FHA, VA, and USDA. You name it, we can do it. We can also lend on all types of property such as: single family, condos, rural homes, townhouses, duplexes, triplexes, quad-plexes, high rises, lots, and even agricultural farm land. We are licensed in the states of FL,VT,NC,MD,MI,CT,SC,VA,CA,MO,IN,NY,DC,CO, &TX, but many times we can still find loans for borrowers out of those states. We are a wholesale broker that has established trusted relationships with the largest banks and lending institutions in the world and in many cases even the bank you may already do business with. To see some of our lenders visit the partners page.

 

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Today's Rates

Date - 06/30/09 - 11:06 am

Conventional

  • 30yr. fixed 5.125%
  • 15yr. fixed 4.875%

FHA

  • 30yr. fixed 5.5%

 

Jumbo -7.0% Fixed

 

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