tag:blogger.com,1999:blog-85840832845699217422012-01-03T13:45:41.891-08:00Equity Loans LLC UpdateNews and updates on interest rates and topics for home mortgages.Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.comBlogger99125tag:blogger.com,1999:blog-8584083284569921742.post-81063866005054221972012-01-03T13:23:00.000-08:002012-01-03T13:45:42.034-08:002012-01-03T13:45:42.034-08:00Higher Credit Scores is the Norm Even at FHAFigures compiled by the Department of Housing and Urban Development show that the average credit score on an FHA-backed single-family loan is now at 700.Just 3.3% of FHA-insured loans originated in the third quarter went to borrowers with 580-619 credit scores. Back in 2009, nearly 20% of FHA borrowers had credit scores in the 580-619 range.Lenders have many reasons for tightening their Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-62579375070125528332011-12-30T10:22:00.000-08:002011-12-30T11:00:26.247-08:002011-12-30T11:00:26.247-08:002011 Mortgage Interest Rates Ending Year Near Historic LowsThe average fixed interest rates for Conventional loans are ending the year near their all-time historic lows.The average rate for a Conventional, 30-year fixed interest rate is 4.00%. In 2010, the year ended with an average rate of 4.875%.Our interest rates as of today:Conventional, 30-yr Fixed: 4.00%/APR 4.264%FHA or Federal VA, 30-yr Fixed: 4.125%/APR 4.698%USDA (Rural Housing), 30-yr Fixed: Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-49824733461562454202011-12-30T10:11:00.000-08:002011-12-30T10:21:49.738-08:002011-12-30T10:21:49.738-08:00Extension of the Mortgage Insurance Tax Deduction UncertainNumerous tax provisions, including the mortgage insurance tax deduction, will expire January 1st because Congress did not pass its annual tax extension bill before the lawmakers left town December 23rd.The mortgage insurance tax deduction went into effect with new mortgage loans closed January 1 through December 31, 2006. Every year since then, Congress has passed the law extending the tax Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-31995043459831736022011-12-29T10:44:00.000-08:002011-12-29T10:59:34.386-08:002011-12-29T10:59:34.386-08:00FHA Waives Flipping Rule Until End of 2012The Federal Housing Administration (FHA) has suspended its anti-flipping rule for another year to facilitate the financing and sale of newly renovated foreclosed properties.This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight.The Department of Housing and Urban Development issued the Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-82488048397468076922011-12-21T13:52:00.000-08:002011-12-21T13:57:46.489-08:002011-12-21T13:57:46.489-08:00Interest Rates as of 12/21/2011Conventional, 30-yr Fixed: 4.25%/APR 4.573%FHA/Federal VA, 30-yr Fixed: 4.00%/APR 5.452%USDA, 30-yr Fixed: 4.00%/APR 4.768%Interest Rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit and property qualifications, and therefore, your interest rate may differ.Please cotact us at 503-385-1791 or visit us atEquity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-80831173755550878042011-12-16T13:50:00.000-08:002011-12-16T14:02:14.187-08:002011-12-16T14:02:14.187-08:00Homebuyers Should Act Now, Mortgage Costs Will RiseIn 2008 Fannie Mae and Freddie Mac were placed under government control. The US Department of the Treasury in its report "Reforming America's Housing Finance Market" advocates increasing the market share of private mortgage lending companies and reducing the role of Fannie and Freddie - with the ultimate aim of winding both institutions down.This will make it tougher for people to buy and financeEquity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-39359670286530168432011-12-13T11:10:00.000-08:002011-12-13T11:14:48.338-08:002011-12-13T11:14:48.338-08:00Interest Rates as of 12-13-2011Conventional, 30-yr, Fixed Rate: 4.125%/APR 4.409%FHA/Federal VA, 30-yr, Fixed Rate: 4.00%/APR 5.512%USDA, 30-yr, Fixed Rate: 4.125%/APR 4.681%Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borowers are subject to credit and property qualifications, and therefore, your interest rate may differ.Please contact us at 503-385Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-5192579476205279702011-12-13T10:57:00.000-08:002011-12-13T11:07:43.483-08:002011-12-13T11:07:43.483-08:00Zero-Down Mortgages Are Not Extinct!One of the most misunderstood conceptions about home loans is that homebuyers will need at least a 20% down payment to qualify for a mortgage.The truth is home loans are still available with no money down. The USDA loan is a 100% mortgage designed to make it easier for people to buy homes in rural areas. The first step is to see if the property you want to buy and you, as a buyer, are eligible Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-36605307126248733572011-12-05T13:27:00.000-08:002011-12-05T13:41:24.766-08:002011-12-05T13:41:24.766-08:00Interest Rates as of 12/05/11Conventional, 30-year, Fixed: 4.375%/APR 4.538%FHA or Federal VA, 30-year, Fixed: 4.25%/APR 5.769%USDA, 30-year, Fixed: 4.25%/APR 4.809%Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit and property qualifications, and therefore, your interest rate may differ.Please contact us at 503-385-1791 Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-16650302147718863832011-12-05T13:09:00.000-08:002011-12-05T13:15:00.293-08:002011-12-05T13:15:00.293-08:00Mortgage Interest Rates Remain StableMortgage rates inched up last week as investors seemed to regain some confidence in the global economy and flocked to the stock market. Normally, mortgage rates tend to rise when the stock market rebounds.Typically, December is a good month for stocks, so rates may bump up very slightly for the month. Despite the slight increase, rates remain near record lows. And those who have not locked a low Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-64303732855595673632011-11-28T13:59:00.000-08:002011-11-28T14:05:34.301-08:002011-11-28T14:05:34.301-08:00Interest Rates as of 11/28/2011Conventional, 30-yr Fixed: 4.375%/APR 5.903%FHA or Federal VA, 30-yr Fixed: 4.25%/APR 4.509%USDA, 30-yr Fixed: 4.25%/APR 4.809%Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit and property qualifications, and therefore, your interest rate may differ.Please contact us at 503-385-1791 or visit Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-84317590428355865592011-11-28T13:43:00.000-08:002011-11-28T13:58:53.607-08:002011-11-28T13:58:53.607-08:00HomePath Loans to Buy ForeclosuresIs buying a foreclosed home a good deal? It can be, but you should be aware that the seller will not make any buyer-requested or lender-required repairs. That is most definitely a problem if you want to get a loan.Fannie Mae has the HomePath Renovation mortgage for just this purpose. The house must be owned by Fannie Mae. Fannie Mae does not lend directly to buyers. They set the guidelines that Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-2914255881948921002011-11-18T13:18:00.000-08:002011-11-18T13:24:33.328-08:002011-11-18T13:24:33.328-08:00Interest Rates as of 11/18/2011FHA or Federal VA, 30-yr. Fixed: 4.25%/APR 5.34%USDA, 30-yr. Fixed: 4.25%/APR 4.712%Conventional, 30-yr Fixed: 4.375%/APR 5.96%Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit and property qualifications, and therefore, your interest rate may differ.Please contact us at 503-385-1791 or visit Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-261958294090214302011-11-18T10:52:00.000-08:002011-11-18T11:06:58.635-08:002011-11-18T11:06:58.635-08:00Housing and Mortgage Prediction for 2012The median expectation among more than 100 economists and real estate pros, surveyed by MacroMarkets, is that home values will inch ahead by 0.25%, compared to their 2011 median forecast decline of 2.8%. They also foresee annualized gains through 2015 of just 1.1%.Low interest rates for mortgage are expected to remain cheap. Jay Brinkman, chief economist at the Mortgage Bankers Association, says Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-62944799368296722232011-10-27T09:05:00.000-07:002011-10-27T09:49:42.591-07:002011-10-27T09:49:42.591-07:00Mortgage Interest Rate Trend for The Week of 10/27/11 - 11/02/11Uncertainty remains in the markets, which should keep mortgage interest rates relatively unchanged from last week. Consumer confidence remains low, and with high unemployment, the economy remains sluggish. Will the newly revamped Home Affordable Refinance Program (HARP) help homeowners and the housing market? Borrowers looking to refinance should make sure to get their applications in before the Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-11908704698892206772011-10-25T10:32:00.000-07:002011-10-25T12:56:49.530-07:002011-10-25T12:56:49.530-07:00Obama Tries to Ease Housing WoesWashington/The Associated Press (excerpts from article) - ...President Obama will promote a series of executive branch steps aimed at jumpstarting the economy this week, beginning with new rules to make it easier for homeowners to refinance their mortgages. The White House said changes to the two-year-old Home Affordable Refinance Program will help homeowners with little or no equity in their Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-82102352860180967322011-08-12T15:41:00.000-07:002011-08-12T15:44:54.345-07:002011-08-12T15:44:54.345-07:00Interest Rates as of 08/12/2011Conventional, 30-yr Fixed Rate: 4.375%/APR 4.58%
FHA or Federal VA, 30-yr Fixed Rate: 4.375%/APR 5.406%
USDA, 30-yr Fixed Rate: 4.375%/APR 5.563%
Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit and property qualifications, and therefore, your interest rate may differ.
Please contact your Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-17631526945218975852011-08-12T15:24:00.000-07:002011-08-12T15:39:42.719-07:002011-08-12T15:39:42.719-07:00FHA Lower Mortgage Loans Effective October 1, 2011FHA sets the maximum loan amount allowed to be able to obtain FHA financing. These loan limits vary by counties. For example, the current maximum loan limit in Polk and Marion Counties is $295,000.
Effective 10-01-11, the maximum loan limits will change and the expectation is that they will decrease. How does this effect you as a home buyer?
FHA loans require a small down payment of 3.5% of theEquity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-89152379852759427812011-07-25T13:16:00.000-07:002011-07-25T13:21:09.741-07:002011-07-25T13:21:09.741-07:00Interest Rates as of 07-25-11Conventional, 30-yr Fixed: 4.625%/APR 4.788%FHA and Federal VA, 30-yr Fixed: 4.75%/APR 5.981%USDA, 30-yr Fixed: 4.75%/APR 5.299%Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit and property qualifications, and therefore, you interest rate may differ. Please contact a Loan Officer at Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-22958012780302413582011-07-25T13:01:00.000-07:002011-07-25T13:15:37.960-07:002011-07-25T13:15:37.960-07:00Interest Rates Going Up or Down?Economists are predicting that interest rates will remain relatively unchanged over the next 30 days.Mortgage rates seem to be moving based on the debt ceiling situation in Washington, D.C. Regardless of the decision to increase the debt ceiling or to cut the deficit, interest rates will remain volatile.The expectation is that the volatility will continue until a resolution is reached. Overall, Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-55398951611548042532011-07-25T12:41:00.000-07:002011-07-25T12:59:43.460-07:002011-07-25T12:59:43.460-07:00Lower Interest Rates Reason Enough to Refinance Your Home LoanWhen interest rates are low, plenty of homeowners rush to refinance before evaluating the true consequences of their actions. Sometimes a mortgage refinance can be the wrong move.People often make poor decisions because of what is called "interest rate envy" around the water cooler. Do not jump at refinancing just so you can say you got a lower rate.The first step when deciding to refinance is toEquity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-67736583491548641702011-03-01T16:55:00.000-08:002011-03-01T16:59:18.523-08:002011-03-01T16:59:18.523-08:00Interest Rates as of 03/01/2011Conventional, 30-yr Fixed: 4.875%/APR 5.043%FHA or Federal VA, 30-yr Fixed: 4.75%/APR 5.586%USDA, 30-yr Fixed: 5.00%/APR 5.318%Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit and property qualifications, and therefore, your interest rate may differ.Please contact your Loan Officer or Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-22897795350850545112011-03-01T16:29:00.000-08:002011-03-01T16:54:17.819-08:002011-03-01T16:54:17.819-08:00What Obstacle is Keeping You From Homeownership?According to the latest survey by Fannie Mae, poor credit is the number one stumbling block keeping potential borrowers from owning a home. Recent economic hardships have caused millions of Americans to fall behind on their bills. Since lenders are now insisting on higher credit scores than in years before, what can you do to be aware of and/or improve your credit?First, know if your credit Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-39844866303875189582011-02-21T14:26:00.000-08:002011-02-21T14:45:57.909-08:002011-02-21T14:45:57.909-08:00FHA Mortage Premium Changing 04-18-11If you haven't heard, FHA announced on 02-14-11 that is is raising its annual mortgage insurance premium. This "Monthly Mortgage Insurance" change is for primary (owner-occupied), 1 - 4 unit residential properties. "Monthly Mortgage Insurance" or, MMI, is included in your TOTAL house payment.The Mortgage Insurance Rate for a 30-year fixed rate loan is currently (until 04-17-11) 0.90%for loans Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0tag:blogger.com,1999:blog-8584083284569921742.post-22989223940222333882011-02-17T12:44:00.000-08:002011-02-17T12:55:17.276-08:002011-02-17T12:55:17.276-08:00Interest Rates as of 02/17/2011Conventional, 30-yr Fixed: 5.125%/APR 5.219%FHA or Federal VA, 30-yr Fixed: 4.875%/APR 5.522%USDA, 30-yr Fixed: 5.00%/APR 5.318%Interest rates quoted are for informational purposes only. Interest rates and loan programs can change without notice. All borrowers are subject to credit qualifying, and therefore, your interest rate may differ.Please contact your Loan Officer or visit us at Equity Loans LLChttp://www.blogger.com/profile/17367377432518131692noreply@blogger.com0