Monday, October 8, 2007
I Wish I Was A First Time Home Buyer
Talk about a buyers market. Sellers are extremely motivated. Fannie Mae has a very nice program for first time home buyers with good credit. The program is called My Community. These loans are for 100% of the purchase price and allow sellers to contribute to the buyer, up to 6% of the purchase price. The 30 year fixed rate today is 6.75%.
Monday, October 1, 2007
No Brainer
The next time you purchase residential real estate be sure to investigate the benefits of bi-weekly
mortgage payments.
Say you borrow $250,000. at 6.25% for 30 years. A traditional fixed monthly payment will lower the principal balance by $39,406. after ten years. However, a bi-weekly payment on the same loan
reduces the principal balance a whopping $60,827 over the same time frame.
mortgage payments.
Say you borrow $250,000. at 6.25% for 30 years. A traditional fixed monthly payment will lower the principal balance by $39,406. after ten years. However, a bi-weekly payment on the same loan
reduces the principal balance a whopping $60,827 over the same time frame.
Friday, September 14, 2007
Investment Property Sept. 14
Answer: 7.0%
Question: Roger, I found a great deal on a house that I wish to purchase as an investment property. I plan to put 10% down. What is the interest rate on a 30 year fixed rate loan? Yes, I have good credit.
Question: Roger, I found a great deal on a house that I wish to purchase as an investment property. I plan to put 10% down. What is the interest rate on a 30 year fixed rate loan? Yes, I have good credit.
Subscribe to:
Posts (Atom)