Denver Mortgage Rate Update 7-13-2009
July 13, 2009 by Bob Schenkenberger · Leave a Comment
Mortgage rates have improved since last week.
30 year fixed…5.16%
15 year fixed…4.61%
A rally last week in the mortgage bond market sent rates down to near all time lows. This gives everyone a chance to get close to the bottom of the market for both purchases and refinance.
We don’t expect these rates to last through the [...]
Mortgage Market Update 6-15-2009
June 15, 2009 by Bob Schenkenberger · Leave a Comment
Mortgage bond prices were very volatile last week pushing rates slightly higher by approximately 1/4 of a discount point.
The primary culprits are fears that other countries would shift dollars away from US holdings. Retail sales rose 0.5%, and reinforced the belief that the economy has started to turn. Oil prices continue to rise, and hit over $72 per barrel.
This week the Consumer Price Index (CPI) will be released this week, and is widely accepted…
CHFA Jumpstart Program
May 12, 2009 by Bob Schenkenberger · Leave a Comment
The Colorado Housing and Finance Authority (CHFA) recently unveiled a fabulous First Time Home Buyer program. The JumpStart Program is an initiative that will effectively utilize the $8000 Federal Tax Credit to the REAL BENEFIT of first time home buyer’s.
The program offers buyers a 30 year fixed interest rate mortgage, and a $6000 second [...]
HUD’s New Mortgage Rules
March 31, 2009 by Bob Schenkenberger · 1 Comment
The US Department of Housing and Urban Development (HUD) issued a new regulation designed to empower borrowers in the mortgage process. HUD has dictated a change in the good-faith estimate (GFE) form and the settlement form (HUD-1). These forms are part of the Real Estate Settlement Procedures Act, a law enacted in 1974 to protect [...]
Making Home Affordable Program
March 26, 2009 by Tom Schreiner · 4 Comments
The Obama Administration unveiled the final details of its “Making Home Affordable Program,” which is designed to help up to 9 million American families refinance or modify their loans to a payment that is affordable now and into the future.
One of the initiatives in this program is aimed at helping struggling homeowners “modify” their loans [...]
Tax Credit and the ARRA
March 24, 2009 by Bob Schenkenberger · Leave a Comment
I just got this email from US Senator Michael Bennet. Since it relates directly to the housing market, the local economy, and the $8000 tax credit for home purchases, I wanted to share it here.
Dear Fellow Coloradan,
We all know that the struggling economy has put enormous pressure on Colorado’s families and businesses. That’s why [...]
Info That Hits Us Where We Live
March 12, 2009 by Rebecca Hansen · 1 Comment
Image via Wikipedia
The National Association of Realtors (NAR) Pending Home Sales Index, that tracks housing affordability, rose to a record level in January. This was a result of the combination of mortgage rates, family income and home prices in January were “the most favorable since tracking began in 1970,” according to the group.
NAR also forecasted [...]
Advantages of FHA Loans vs. Conventional Loans
February 6, 2009 by Bob Schenkenberger · 1 Comment
If you are considering a home mortgage loan it is best to gather your own facts rather than rely on a loan provider to inform you. Once you have gathered facts you can meet with a loan officer armed with knowledge and the proper questions to obtain the best loan product for your needs. Knowledge [...]
FHA 203k(s) – “Streamline” 203k Program
December 15, 2008 by Tom Schreiner · 1 Comment
Are you looking at properties that need a kitchen in order to close? Or flooring? Or reinstallation of the copper piping? Or a new roof? Need to mitigate a former meth house? We offer the FHA 203k(s). This is HUD’s “streamline” 203k program, that allows the borrower to finance up to $31,000 into their [...]
Refi Now or Roll the Dice?
December 12, 2008 by Rebecca Hansen · 1 Comment
With 30 year fixed rate loans hovering around 5%, is this the time to pull the trigger on a re-finance of your mortgage? There are two groups of qualified borrowers who should look at refinancing?
Image by woodleywonderworks via Flickr
Those who have fixed-rate mortgages above 6%.
Those who have adjustable-rate mortgages and want the security [...]
