For the last few years, Realtor’s have been encouraged by local lenders to mention to our clients and friends that the time to buy is “now”, based on record low interest rates. This has been a great a statement to mention to potential Buyers IF they are convinced that they will not need to re-sell in the foreseeable future. 30 year fixed interest rates have been nothing less than amazing. It’s been difficult for me to encourage buyer’s to move quickly based on the depreciating market. My advise has been that … [Read more...]
How Albuquerque Home Buyers Face Decisions that Affect Their Long-Term Financial Picture
Seek a Qualified Mortgage Consultant to Ensure the Best Results Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Literally hundreds of loan programs are available, and it is important to find the one that best fits your personal long-term goals. First and foremost, you must have a mortgage consultant in your corner that is willing to take the time to know what your long-term … [Read more...]
Mortgage Myths and Facts – Albuquerque Real Estate & Homes For Sale
Myth: The average person can't get a mortgage today. Fact: Legacy Mortgage and reputable Lenders are hungry for mortgages! It is true that big banks have been limited on the amount of real estate related assets they can hold in their portfolio, but true Lenders have the more then enough assets to lend and a full menu of flexible mortgage options available. Don't let the press scare you! Myth: Lenders can't be relied on to fund a loan, even if it is approved. Fact: Strong reputable Lenders such as … [Read more...]
Obama may soon make refinancing your Albuquerque home easier – Albuquerque Real Estate News
Some great news coming out of Washington that may affect many Albuquerque home owners and Albuquerque real estate as a whole. We might actually be able to refinance our homes into better interest rates! The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and cost next to nothing. One proposal would allow millions of homeowners with government-backed mortgages to refinance them at today’s … [Read more...]
Albuquerque Mortgage Information By Loan Officer, Bess Daunis
I recently read an article about the misconceptions and lack of mortgage knowledge still prevalent among home-buyers. According to Zillow Mortgage Marketplace, 45% of prospective home-buyers answered wrong when asked basic mortgage questions. 44% of those surveyed admitted that they were not confident in their knowledge of mortgages or the mortgage loan process. The following is a good example. A whopping 57% of prospective buyers who were polled did not understand how adjustable rate mortgages worked. When … [Read more...]
Interest Rates Are Getting Lower and Lower – Albuquerque Home Mortgage Alert!
Hi All, Rates are really low again! If you have anyone starting to look NOW IS THE TIME!! Depending on various factors, conventional rates are around mid upper 4's and FHA even lower! Call me to get pre-approved for a mortgage or to refinance today! Bess Daunis - Senior Loan Officer - 248773 Legacy Mortgage Direct (505)857-2216 Mobile(505)301-1691 … [Read more...]
Great Information About Credit Scores – Albuquerque Real Estate and Mortgage News
Some great information from a good friend and excellent Senior Loan Officer at Legacy Mortgage, Bess Daunis. Please don't hesitate to contact her or me with any of your borrowing questions. As a Lender, I see way too many clients with perfect pay histories yet low credit scores. Since mortgage interest rates are now impacted heavily by your credit score.... this can be very valueable information for you. The Fair Credit Reporting act requires reporting agencies to report true and accurate information. A HELOC is … [Read more...]