USDA/Maine State Housing Purchase Plus Improvement Loan
Updated Oct. 24, 2014
We offer a USDA Rural Development / Maine State Housing Authority Purchase Plus Improvement Loan. This loan requires No Down Payment and allows you to finance up to $35,000.00 worth of qualified improvements to the property including:. New Kitchen, Flooring, Paint, Siding, Windows, Roof, Furnace, etc.. We...

Divorce and your home... you do have options.
Updated Oct. 9, 2013
There are many questions you might be asking at this time, particularly surrounding your home. We are here to help. Let's first break down some of the basics.. "I think I want to stay in my home... what do I need to keep in mind?" First, take into consideration the size of the home, utilities, payments and family needs....

Does shopping for a mortgage hurt my credit score?
Updated Oct. 9, 2013
This is the most common misconception that I encounter as a Loan Officer. Most people are under the impression that multiple credit inquiries in a short period of time will lower their scores. This is only partially true. The truth is: It depends on who is pulling your credit!. What to know about "rate shopping."...

Mortgage Market Update - June 17, 2013
Updated Oct. 9, 2013
The Stock markets begin the week sharply higher ahead of this week's big event, the 2-day Federal Open Market Committee meeting. The meeting will begin on Tuesday morning and will end with a monetary policy statement being delivered at 2:00pm ET on Wednesday. The meeting will be followed by a press...

5 Myths About Home Values
Updated Oct. 9, 2013
During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much.And in times of turmoil when property values are declining, home sellers and even listing agents quite often question and pick apart appraisals.However, the actual appraisal...

Mortgage Market Update
Updated Oct. 9, 2013
Consumer Sentiment rose in the final weeks of June to 84.1 and more than had been reported at the initial reading halfway through the month and nearly matched the six-year high of 84.5 registered in May. Optimism was seen in the higher-income families. A spokesperson for the survey said that consumers believe the...

Mortgage Market Update for July 2, 2013
Updated Oct. 9, 2013
The housing sector continues to receive good news as CoreLogic reported this morning that home prices, including distressed sales, rose by 12.2% in May of 2013 compared to May 2012. This was the largest annual increase since February 2006 fueled by tight inventories and historically low home loan rates. In...

Mortgage Market Update for July 8, 2013
Updated Oct. 9, 2013
In its monthly National Housing Survey, Fannie Mae reported that home prices may enter the purchase market sooner rather than later as people feel that mortgage rates and home prices to rise. Within the survey it showed that those who feel that mortgage rates will go up in the next 12 months rose by 11% to 57%, the...

Daily Mortgage Market Update for July 9, 2013
Updated Oct. 9, 2013
Small business owners weren't feeling too optimistic in June. Uncertainty surrounding the endless stream of delays and capitulations of certain provisions of the new healthcare laws and as economic growth was revised down for the first quarter of the year. In addition, the growth forecast for the second...

Daily Mortgage Market Update
Updated Oct. 9, 2013
Higher energy costs across the nation led wholesale prices higher in June, which could lead to inflationary pressures down the road. The Labor Department reported that the Producer Price Index (PPI) rose by 0.8% in June, above the 0.3% expected and was the largest gain since September. The Core PPI, which strips...

Daily Mortgage Market Update
Updated Oct. 9, 2013
Higher gasoline prices and a surge in sales of automobiles led Retail Sales higher in June, but the gains were offset by a decline in home improvement stores, bars and restaurants and department stores. Retail Sales rose by 0.4%, lower than the 0.7% expected and down from the 0.5% gain in May. Retail Sales account for...

Higher Rates Slowing Home Sales
Updated Oct. 9, 2013
Early Evidence of Rates Hitting Home Sales More Than Prices

Mortgage Market Update 7-17-2013
Updated Oct. 9, 2013
Fed Chairman Bernanke's speech to the House Financial Services Committee was released this morning saying that that the Fed's asset purchases are by no means on a preset course. Mr. Bernanke went on to say that Bond buying could be reduced at faster pace, a slower pace, or even increased for a time,...

Daily Mortgage Market Update 7-18-2013
Updated Oct. 9, 2013
The Labor Department reported this morning that Americans filing for first time unemployment insurance fell in the latest week, a signal that the jobs market continues to make some headway. Weekly Initial Jobless Claims fell by 24,000 in the latest week to 334,000 and below the 348,000 that was expected....

Daily Mortgage Market Update
Updated Oct. 9, 2013
The Dow Jones Industrial Average (15,548) and the S&P 500 Index (1,689) both hit record high closing levels yesterday after Federal Reserve Chairman reaffirmed midweek that the current stimulus program dubbed QE III will be in place for the foreseeable future. The program is geared towards boosting the...

Daily Mortgage Market Update 7-22-2013
Updated Oct. 9, 2013
The National Association of Realtors reported today that Existing Home Sales fell 1.2% in June from May to 5.08 million units on an annualized basis. Inventories rose to 5.2 months supply from 5 months in June while the national median price was $214,000, up 12.5% from June of 2012.McDonald's, the world's...

Daily Mortgage Market Update
Updated Oct. 9, 2013
Consumer bellwether United Parcel Service (UPS) reported that second quarter profits declined by 4% as customers moved to lower price shipping companies. Revenues came in at $13.51 billion versus the $13.59 billion expected. UPS is considered a bellwether along with FedEx due to the high volume and large...

Today's Mortgage Market Update
Updated Oct. 9, 2013
The Labor Department reported this morning that Americans filing for first time unemployment benefits rose in the latest week, but remained near recent levels as the job markets slowly improve. . Weekly Initial Jobless Claims rose by 7,000 in the latest week to 343,000 and just above the 340,000 that was...

Daily Mortgage Market Update
Updated Oct. 9, 2013
The country's largest home loan lender, Wells Fargo, announced this week that it will be laying off 300 workers in its joint venture home lending unit due to new regulatory changes. The bank has withdrawn from eight joint mortgage ventures as state and federal laws have "increased the complexity and...

Daily Mortgage Market Update 7-29-2013
Updated Oct. 9, 2013
The National Association of Realtors (NAR) reported this morning that Pending Home Sales in June declined by 0.4% versus the -1.7% expected. The NAR said that higher home loan rates put a crimp in sales in June. The index hit a six year high in May. Pending Home Sales is a contract that has been signed, but that has not...