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Understanding Discount Points: Your Key to Big Savings on Your Mortgage When exploring your mortgage options, “discount points” often pop up. What are they? Simply put, discount points are a way to pay down your mortgage rate, potentially saving you thousands of dollars over the life of your loan. This detailed guide will thoroughly explore…
This guide guide covers how home prices are increasing despite higher mortgage rates. All indicators point to a housing bubble. The real estate boom we have experienced since 2019 is like no other housing explosing since the housing market peaked in 2005-06. HUD and the FHFA have increased loan limits for eight years in a…
This guide covers FHA versus conventional mortgage rates on purchase and refinances transactions. One of the most common questions the team at Gustan Cho Associates is how are FHA versus Conventional mortgage rates. Not all borrowers get the same mortgage rates. Prime borrowers will get the best mortgage rates and terms. Prime borrowers have at…
Mortgage Rates have dropped has dropped again after the sudden surge in recent weeks.
Non-QM mortgage rates are determined by the down payment, credit scores, credit history of the borrower, and type of property. The higher the credit score and the higher the down payment, the lower the mortgage rates.
In general, borrowers buy down mortgage rates to get a lower rate on their home loans. However, there are instances where borrowers need to buy down rates due to loan level pricing adjustments due to lower credit scores
This Article Is About Understanding VA Mortgage Rates And Loan Level Pricing Adjustments VA loans are the best home mortgage program in the United States. The government has created and launched VA loans decades ago to reward qualified members of our U.S. Military to reward them for their service to our country. Only select qualified…
It is no secret that mortgage interest rates are at historic lows. The COVID-19 pandemic has affected every global market, including the United States mortgage market. While historic lows are currently experienced in interest rates, all signs indicate an imminent increase. If you have been following the news, you know that the Federal Reserve announced…
Tennessee Home Prices Continue to Rise in 2024 Tennessee boasts a healthy state government with a surplus, which is excellent news for the state’s financial health. Many residents from financially struggling states like Illinois are moving to Tennessee. The state attracts numerous residents from high-tax states such as Illinois, Wisconsin, California, New York, New Jersey,…
This guide covers the volatility of mortgage rates during the Covid-19 pandemic. Mortgage Rates During The COVID-19 Pandemic is two-fold. Mortgage rates are at historic lows for prime borrowers. Prime borrowers are mortgage borrowers with at least 740 credit scores, low debt-to-income ratios, 25% down payment, and no loan-level pricing adjustments. However, any borrower with…
This Article Is About Condotel Mortgage Rates And Condotel Loan Guidelines. A condotel, or a condo-hotel, is a condominium unit located within a hotel or a hotel-like condominium project. Major hotel brands such as Marriott Hotels, Hyatt Hotels, and Trump Hotels often include condotels in their hotel complexes. Condotels are owned by individuals, investors, or…
This guide covers comparison of mortgage rates on purchase and refinance loans. Mortgage rates have been steadily going up to all time highs for home buyers shopping for a home loan or homeowners thinking of refinancing their current home loans. Mortgage rates have been steadily increasing and are at the highest rates since the 1980’s….
This guide covers credit scores and mortgage rates versus pricing adjustments. Credit scores and mortgage rates go side by side. The most important factor in any mortgage loan application process is one’s credit score. Although income, credit, credit history, debts, assets, and liabilities are all important in the mortgage loan application process, the single most…
This guide covers housing demand strong despite highest mortgage rates and surging inflation numbers. Home sales throughout the United States remain strong due to a combination of factors. Rumors of higher mortgage rates in the second half of 2021 have not slowed down demand for homes. The reduction of the FHA annual mortgage insurance premium has…
This guide covers shopping for best mortgage rates in California on home purchase and refinance home loans. California is the nation’s most populous state. Many counties in the state of California is classified as high-cost areas. FHA, VA, and Conventional loan limits are substantially higher than other parts of the country on high-cost areas. California…
This guide covers qualifying for the lowest FHA mortgage rates on FHA loans. Qualifying for the lowest FHA mortgage rates is every borrowers goal. There are ways to prepare for a mortgage a few months before actually applying for a home loan. Not everyone gets the same mortgage rates on FHA loans. Mortgage lenders will…
Lenders base each borrower’s credit scores as well as other risk factors when determining mortgage rates. The higher the risk of a borrower, the higher the rate. It is best for each borrower to maximize their credit scores and other layered risks to get the best mortgage rates.
This guide covers understanding FHA mortgage rates on purchase and refinance transactions. FHA loans are the most popular mortgage program in the United States. More and more homebuyers use FHA mortgages to purchase their homes. This especially holds true for first-time homebuyers and borrowers with less than perfect credit. HUD, the parent of the Federal…
This guide on how does the federal reserve affect mortgage rates was updated on June 16, 2023. Dustin Dumetre of Gustan Cho Associates updates this week’s mortgage news on his Friday weekly mortgage minutes. The team at Gustan Cho Associates had another busy stellar week with record mortgage loan applications and loans submitted. Homebuyers still…
This guide covers mortgage rates on non-QM loans and no-doc mortgages. Current Home Mortgage Rates after the election of President Donald Trump has been increased to an all-time high since 2008. Rates on conventional loans are in the 5.0% range for prime borrowers. Jumbo mortgage rates for prime borrowers are nearing 6% and many times…
This guide covers mortgage rates after bankruptcy on government and conventional loans. There are loan level pricing adjustments (LLPA) charged by mortgage companies for layers of risk. For example, there are tiers of pricing adjustments on credit scores. The lower the credit scores, the higher the pricing adjustments. Many people think mortgage rates will be…
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