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Jake Belcher's Blog


What you should do about interest rates when applying for a mortgage
Updated Oct. 9, 2013
One of the questions I frequently get asked by borrowers is whether they should lock or float their interest rate. For purchases and refinances, it usually pays to get a rate locked in as soon as you apply. Most people are going to close on their purchase within 30 to 45 days, and, for the most part, rates do not move...
Rates
Updated Oct. 9, 2013
Contact Jake Belcher.
Rates
Updated Oct. 9, 2013
Contact Jake Belcher.
USDA 100% Purchase Mortgage
Updated Oct. 9, 2013
USDA has started funding loans again.  100% Loan to Value with unlimited closing costs that can be paid by the seller.  Property location restrictions apply.  Call me at 913-541-0303 ext 137..
Mortgage Market - Lock or Float
Updated Oct. 9, 2013
I think it's safe to say that, consistently for the last 30 to 45 days, at least one lender (regional, major, or independent) has offered below market "record low" mortgage rates.. Investor demand is consistently healthy for agency MBS, such that their prices are hitting new record highs on a daily basis. No...
Purchase Applications
Updated Oct. 9, 2013
Contact Jake Belcher.
FHA Loan to Help People that owe on Homes more than what they are worth.
Updated Oct. 9, 2013
This is the introduction of the program originally back in March. From the FHA: In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today provided details on the adjustment to its refinance program which...
FHA Loan to Help with Equity Problems
Updated Oct. 9, 2013
FHA.
Rates - Lock or Float
Updated Oct. 9, 2013
Contact Jake Belcher.
Market News
Updated Oct. 9, 2013
Contact Jake Belcher. .
7 Warning Signs of a Bad Loan
Updated Oct. 9, 2013
1. Pressures you into borrowing more money than you need. The only reason a lender wants you borrow more than necessary is to increase his commission. But you'll probably pay more in interest on the extra dough than you'd earn in interest by stashing it away in a savings account. So stick to what you need and...
Mortgage Market
Updated Oct. 9, 2013
Contact Jake Belcher.
Top 5 Reasons to Refinance Now
Updated Oct. 9, 2013
1. Reducing Monthly Mortgage Payments. The standard residential mortgage in the US is a 30-year, fixed interest mortgage with fixed repayments. If you took out a mortgage in the high-interest late 80s, or even around the turn of the century, interest rates at the time were probably higher than they are now. Simply...
What is a USDA Home Loan
Updated Oct. 9, 2013
A USDA Guaranteed Loan is Government insured 100% purchase loan. These Loans are only offered in rural areas and serviced by direct lenders that meet federal guidelines.. Under the Guaranteed Loan program, the Housing and Community Facilities Programs guarantees loans made by private sector lenders. (A loan...
DU REFI PLUS
Updated Oct. 24, 2014
DU Refi Plus. Q. What is DU Refi Plus?. A. DU Refi Plus is a new refinance program for homeowners with no or even some negative equity in their homes.. Q. Who is eligible?. A. Any loan owned or backed by Fannie Mae- you need not deal with your servicer. Any lender or broker may arrange this financing for you.. Q. How do I qualify?. A....
Getting an FHA Loan 2010
Updated Oct. 9, 2013
So what does it take to get an FHA home loan these days? What should you be doing now to increase your chances for success next year? Here's your checklist for securing a 2010 FHA loan.. 1.Start saving money. The more money you can save between now and the day you apply for an FHA loan, the better off you'll be....
Housing News April 18 2011
Updated Oct. 9, 2013
The coming days offer little in the way of macroeconomic data, but the sparsely populated calendar does hold new stats on the housing markets.. "Housing will dominate the news in the upcoming week," said economists at IHS Global Insight. "February's housing numbers were deplorable, but they were probably...
Good Faith Guarantee
Updated Oct. 9, 2013
The Good Faith Guarantee:. Like you, we watched as the easy credit and low interest rates created an environment in the mortgage industry that was overwrought with mediocrity and broken commitments. And like you, we felt you deserved better. We knew that if we built a company on the foundation of "Good People Doing...
Understanding PMI
Updated Oct. 9, 2013
One of the most frequently misunderstood aspects of mortgaging a home, especially for first-time buyers, is Private Mortgage Insurance (PMI). The most common misconception is that PMI is a mortgage life insurance policy whereby the mortgage would be paid off should the borrower die. It is not.. Instead, PMI is an...
Fannie Mae HomePath
Updated Oct. 24, 2014
With the number of REO properties increasing, I'm being asked more often about HomePath financing. HomePath financing is available for Fannie Mae REO's with the HomePath logo found on HomePath.com. I've personally noticed a significant increase in questions about this financing so I thought...

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