How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

As compared to conforming loans and jumbo mortgages, FHA-backed loans are great for a lot of reasons.

FHA mortgages allow purchases with low downpayments; they allow refinances without appraisal; and FHA mortgage rates are often pretty low.

One place where FHA mortgages fall short, though, as compared to other loan types is with respect to mortgage insurance. FHA mortgage insurance can be cumbersome and costly.
If you're going to take an FHA-backed mortgage, you need to know how FHA mortgage insurance works.

Click here for an FHA mortgage rate quote.

With FHA, Everyone Pays Mortgage Insurance Twice

The FHA's role in Mortgage World is different from Fannie Mae and Freddie Mac. The FHA doesn't "buy mortgages" from banks like Fannie and Freddie do. Rather, it insures them.
It works like this : The FHA issues mortgage guidelines to which banks can underwrite a mortgage. These mortgages are commonly called "FHA mortgages".
If a bank underwrites an FHA mortgage and the loan goes into default, the FHA repays the bank's losses from its capital reserves. The FHA's capital reserves are funded by mortgage insurance premiums paid by the nation's FHA-insured homeowners.
FHA homeowners pay two types of mortgage insurance -- Upfront Mortgage Insurance Premiums and Annual Mortgage Insurance Premiums. These insurance types are sometimes abbreviated and known as UFMIP and MIP, respectively.

Since April 18, 2011, every FHA-insured homeowner has been required to pay both at least one form of FHA mortgage insurance.

Click here for an FHA mortgage rate quote.

How To Calculate Your FHA Mortgage Insurance

The FHA's mortgage insurance requirements are generally simple.
FHA Upfront Mortgage Insurance Premiums
The FHA's current upfront mortgage insurance premium (UFMIP) is 1.75 percent of your loan size. For example, if you want to apply for an FHA purchase mortgage and your loan size is $300,000, then your Upfront MIP will be equal to $5,250.
Upfront MIP is not paid as cash. It's automatically added to your loan balance by the FHA. Therefore, your final loan size in the example above will be $305,250.
Furthermore, upfront MIP is not used in your FHA loan-to-value calculation. This means that you can make a 3.5% downpayment on your purchase, add the 1 percent UFMIP to your loan size, and still meet the FHA's low downpayment guidelines.
Upfront MIP is paid to the FHA upfront, at closing, and never paid again. Hence the name, "upfront" MIP. However, because UFMIP is added to your loan balance, you do pay mortgage interest on it for the life of your loan.
FHA Annual Mortgage Insurance Premiums
The FHA's other type of mortgage insurance is paid monthly. Called Annual Mortgage Insurance Premiums (MIP), it's paid as a part of your mortgage statement.
Annual MIP is required on all FHA mortgages and premiums vary according to your FHA loan's individual characteristics. The FHA's MIP table is below :

• 15-year loan terms with loan-to-value over 90% : 0.60 percent annual MIP
• 15-year loan terms with loan-t0-value under 90% : 0.35 percent annual MIP
• 30-year loan terms with loan-to-value over 95% : 1.25 percent annual MIP
• 30-year loan terms with loan-to-value under 95% : 1.20 percent annual MIP

As a real-life example, a 30-year fixed rate FHA mortgage in a high-cost area such as Loudoun County, Virginia; or Bethesda, Maryland may be for as much as $729,750. If the FHA mortgage is a purchase and the buyer is putting the minimum 3.5% down on the home, the annual MIP is 1.15 percent, or $699 per month.
15-year FHA mortgages with a loan-to-value of 78% or less are exempt from annual MIP payments.
Click here for an FHA mortgage rate quote.

How To Get Rid Of Your FHA Mortgage Insurance

One nice thing about FHA mortgage insurance is that it's not permanent. FHA mortgage insurance eventually goes away.
The schedule for getting rid of FHA mortgage insurance changes by loan term.

• 30-year loan term : Annual MIP is automatically canceled once the loan reaches 78% loan-to-value and monthly MIP has been paid for at least 60 months.
• 15-year loan term : Annual MIP is automatically canceled once the loan reaches 78% loan-to-value. There is no requirement that monthly MIP be paid for at least 60 months.

In other words, if you have a 30-year fixed rate FHA mortgage, you must pay mortgage insurance for at least 5 years before it can go away -- regardless of your loan balance. By comparison, if you have a 15-year fixed-rate FHA mortgage, your mortgage insurance is removed as soon as your LTV is low enough.
No action is needed on your part -- the FHA handles MIP removal automatically.
Also, note that the FHA does not allow a new appraisal to determine whether your loan is at 78% loan-to-value. The 78% LTV is based on the lesser of your purchase price, or its original appraised value.
At today's mortgage rates, a 15-year FHA mortgage on which the minimum 3.5% downpayment was made should pay down to 78% of the original purchase price within 26 months. A 30-year fixed will take 9 years to reach the same point.
Click here for an FHA mortgage rate quote.

Compare FHA Mortgage Rates And MIP

FHA mortgage rates are cheap right now; cheaper than conventional loans and cheaper than VA. There are great bargains for first-time buyers and other households planning on minimum downpayments.
The trick is understanding FHA mortgage insurance. FHA mortgage insurance can be costly in the long run and there's good cause for comparing options.
Before you lock a 30-year fixed FHA loan, do your due diligence -- look at 15-year payments, too. 15-year FHA mortgage rates are often lower than comparable 30-year FHA mortgage rates and the mortgage insurance terms are more favorable.
You'll pay less MIP each month, and can be rid of it as much as 7 years sooner.

Contact The Mortgage Mark with any questions!   www.themortgagemark.com 

mwilkins@capitalfmc.com

Mortgage Rates Responding To Rising Gas Prices?

Mortgage Rates Responding To Rising Gas Prices?

Political unrest across the Middle East has oil prices on the move. Crude oil raced past $110 per barrel last week, a 38 percent increase since just 5 months ago. Gas prices are rising, too -- up 26 days in a row nationwide.
For mortgage rate shoppers, it adds up to bad news at the pump, and at the bank. Rising oil prices are linked to higher mortgage rates.
Click here to get today's mortgage rates.

Higher Oil Prices Lead To Higher Mortgage Rates

When oil prices rise, they tend to take mortgage rates with them. We've seen it time and again throughout history. The link is a natural one, too -- it's tied to inflation.
First, oil prices rise. This can happen for any number of reasons:

1. Demand for oil increases because of expanding economies
2. Supply of oil falls because of reduced drilling capacity, or abrupt disruption
3. The U.S. dollar loses value (because oil is bought/paid for using U.S. dollars)

As oil prices rise, so does the cost of "doing business".
This should be intuitive -- energy costs are an input for manufactured items, and just the cost of keeping the lights on all day goes up when oil prices rise. Before long, business profits shrink.
Meanwhile, as this is happening, homeowners start to experience rising heating and cooling costs, plus higher prices at the gas pump. Furthermore, food costs rise because it's more expensive for food producers to get food from the farm to the supermarkets. Disposable income shrinks.
Before long, the cost pressures on business and households converge. To make up for rising costs, businesses raise prices and households demand higher wages. This cycle is self-perpetuating and costs move ever higher.
This, my friends, is inflation and inflation is awful for mortgage rates.
Click here to get today's mortgage rates.

Gas Prices Are Rising. Lock Your Mortgage Rates.

According to government data, core inflation is up just 1.9% from last year, well within the Fed's "target range" and low enough to warrant holding the Fed Funds Rate near 0.000% until at least 2014.
However, although prices remain tame, the next inflation cycle has already started.
This is because the Federal Reserve has created for the U.S. economy an ideal, expansionary environment.

1. A 0.000% percent Fed Funds Rate
2. More than a trillion dollars worth of bond market support
3. A unwavering message that the Fed Funds Rate will stay low for "an extended period"

And now, with gas prices rising, the cycle gets a boost. Mortgage rates for all loan types -- FHA, conventional, USDA and VA -- should rise in the next few days. Even jumbo loans.
If you've been shopping, consider cutting your losses today. Lock your mortgage rate and get a move on.
Click here to get today's mortgage rates.

Your Next Step : Get A Rate Quote

The Federal Reserve is closely watching inflation, and has been. Rising costs concern Fed Chairman Ben Bernanke to the point that he suggested a third round of quantitative easing may not be necessary.
Remember : Markets had taken QE3 as a foregone conclusion.
Click here to get today's mortgage rates.

Contact The Mortgage Mark with any questions!

www.themortgagemark.com   mark@themortgagemark.com

Mortgage Rates : Real-Time MBS Pricing, February 27, 2012

MBS PRICES HIGHER

MBS markets opened higher this morning after G-20 officials decided over the weekend to postpone a decision on additional aid for Europe. Although they are off a little from the highs, MBS prices have held most of the gains through the morning.
January Pending Home Sales rose 2% from December, which was close to the consensus forecast. Pending Home Sales are a forward-looking indicator based on signed contracts rather than actual closings. They are now at the highest level since April 2010, when the deadline to take advantage of home buyer tax credits spurred sales.
This chart shows the change in MBS prices from today's market open at 8:00 AM ET and tracks how mortgage-backed bond prices have changed until the time of this post. The vertical-axis reflects the change in mortgage bonds pricing as measured in 32nds. Each 32nd is equal to 3.125 basis points.
Falling MBS prices result in higher mortgage rates. Rising MBS prices result in lower mortgage rates.

Get your free Rate Quote today! 

Contact me with any questions!!

www.themortgagemark.com  www.capitalfmc.com

How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

As compared to conforming loans and jumbo mortgages, FHA-backed loans are great for a lot of reasons.
FHA mortgages allow purchases with low downpayments; they allow refinances without appraisal; and FHA mortgage rates are often pretty low. 

One place where FHA mortgages fall short, though, as compared to other loan types is with respect to mortgage insurance. FHA mortgage insurance can be cumbersome and costly.
If you're going to take an FHA-backed mortgage, you need to know how FHA mortgage insurance works.
Click here for an FHA mortgage rate quote.

With FHA, Everyone Pays Mortgage Insurance Twice

The FHA's role in Mortgage World is different from Fannie Mae and Freddie Mac. The FHA doesn't "buy mortgages" from banks like Fannie and Freddie do. Rather, it insures them.
It works like this : The FHA issues mortgage guidelines to which banks can underwrite a mortgage. These mortgages are commonly called "FHA mortgages".
If a bank underwrites an FHA mortgage and the loan goes into default, the FHA repays the bank's losses from its capital reserves. The FHA's capital reserves are funded by mortgage insurance premiums paid by the nation's FHA-insured homeowners.
FHA homeowners pay two types of mortgage insurance -- Upfront Mortgage Insurance Premiums and Annual Mortgage Insurance Premiums. These insurance types are sometimes abbreviated and known as UFMIP and MIP, respectively.
Since April 18, 2011, every FHA-insured homeowners has been required to pay both forms of FHA mortgage insurance.
Click here for an FHA mortgage rate quote.

How To Calculate Your FHA Mortgage Insurance

The FHA's mortgage insurance requirements are generally simple.
FHA Upfront Mortgage Insurance Premiums
The FHA's current upfront mortgage insurance premium (UFMIP) is 1 percent of your loan size. For example, if you want to apply for an FHA purchase mortgage and your loan size is $300,000, then your Upfront MIP will be equal to $3,000.
Upfront MIP is not paid as cash. It's automatically added to your loan balance by the FHA. Therefore, your final loan size in the example above will be $303,000.
Furthermore, upfront MIP is not used in your FHA loan-to-value calculation. This means that you can make a 3.5% downpayment on your purchase, add the 1 percent UFMIP to your loan size, and still meet the FHA's low downpayment guidelines.
Upfront MIP is paid to the FHA upfront, at closing, and never paid again. Hence the name, "upfront" MIP. However, because UFMIP is added to your loan balance, you do pay mortgage interest on it for the life of your loan.
FHA Annual Mortgage Insurance Premiums
The FHA's other type of mortgage insurance is paid monthly. Called Annual Mortgage Insurance Premiums (MIP), it's paid as a part of your mortgage statement.
Annual MIP is required on all FHA mortgages and premiums vary according to your FHA loan's individual characteristics. The FHA's MIP table is below :

• 15-year loan terms with loan-to-value over 90% : 0.50 percent annual MIP
• 15-year loan terms with loan-t0-value under 90% : 0.25 percent annual MIP
• 30-year loan terms with loan-to-value over 95% : 1.15 percent annual MIP
• 30-year loan terms with loan-to-value under 95% : 1.10 percent annual MIP

As a real-life example, a 30-year fixed rate FHA mortgage in a high-cost area such as Loudoun County, Virginia; or Bethesda, Maryland may be for as much as $729,750. If the FHA mortgage is a purchase and the buyer is putting the minimum 3.5% down on the home, the annual MIP is 1.15 percent, or $699 per month.
On a 15-year mortgage, the MIP falls to $304 per month.
Click here for an FHA mortgage rate quote.

How To Get Rid Of Your FHA Mortgage Insurance

One nice thing about FHA mortgage insurance is that it's not permanent. FHA mortgage insurance eventually goes away.
The schedule for getting rid of FHA mortgage insurance changes by loan term.

• 30-year loan term : Annual MIP is automatically canceled once the loan reaches 78% loan-to-value and monthly MIP has been paid for at least 60 months.
• 15-year loan term : Annual MIP is automatically canceled once the loan reaches 78% loan-to-value. There is no requirement that monthly MIP be paid for at least 60 months.

In other words, if you have a 30-year fixed rate FHA mortgage, you must pay mortgage insurance for at least 5 years before it can go away -- regardless of your loan balance. By comparison, if you have a 15-year fixed-rate FHA mortgage, your mortgage insurance is removed as soon as your LTV is low enough.
No action is needed on your part -- the FHA handles MIP removal automatically.
Also, note that the FHA does not allow a new appraisal to determine whether your loan is at 78% loan-to-value. The 78% LTV is based on the lesser of your purchase price, or its original appraised value.
At today's mortgage rates, a 15-year FHA mortgage on which the minimum 3.5% downpayment was made should pay down to 78% of the original purchase price within 26 months. A 30-year fixed will take 9 years to reach the same point.
Click here for an FHA mortgage rate quote.

Compare FHA Mortgage Rates And MIP

FHA mortgage rates are cheap right now; cheaper than conventional loans and cheaper than VA. There are great bargains for first-time buyers and other households planning on minimum downpayments.
The trick is understanding FHA mortgage insurance. FHA mortgage insurance can be costly in the long run and there's good cause for comparing options.
Before you lock a 30-year fixed FHA loan, do your due diligence -- look at 15-year payments, too. 15-year FHA mortgage rates are often lower than comparable 30-year FHA mortgage rates and the mortgage insurance terms are more favorable.
You'll pay less MIP each month, and can be rid of it as much as 7 years sooner.

Contact The Mortgage Mark with any Questions!!

www.themortgagemark.com
mwilkins@capitalfmc.com

Who Needs Super Bowl Tix When You’ve Got a Man Cave?

January 31, 2012

 

It may sound like a football fan’s dream to attend a Super Bowl game live and in person. But really? Indianapolis? In February?
Unless you are a rabid fan of the New York Giants or the New England Patriots — the conference champs who will square off in Super Bowl XLVI on Sunday, Feb. 5 at the Lucas Oil Stadium — there really are better places to watch the NFL title game.
Like, a tricked-out, beer-tapped man cave!
Homes with “man caves” — or rooms with giant TVs, sports memorabilia, wet bars, and comfy couches — have grown in popularity over the years and have become the go-to place on big game days. Or, dare we say big movie nights?
Just in time for the big game, we found some homes for sale with man caves that offer the ultimate place to watch on Super Bowl Sunday. So, sit back, pop a cold one and pass the chips and dip while we tour a few man cave beauties we found.



9124 Eagle Point Loop Rd SW, Lakewood, WA 98498 (above)
For Sale: $1,295,000
Cars, kitchen, couches, and TVs – what more could a guy ask for? “Designed for a car enthusiast,” this 7,800-sq ft home sits on a gorgeous, waterfront parcel of Lakewood real estate with 3 bedrooms, 3.5 bathrooms, 2 dining rooms, library, hobby room, and a 1,000-sq ft entertaining deck. The only space needed this weekend, however, is the “man cave,” which is equipped with a full kitchen, car elevator, bathroom, workshop, and adjacent billiards room.



1445 W Grande Cir # 7, Washington, UT 84780 (above)
For Sale: $6,995,000
Gentlemen, start your drooling. Located in Washington, UT, this 24,500-sq ft home sports the ultimate man cave amenity: Its very own sports pub. Four ceiling-mounted TVs offer a 360-degree view of the game, and the hardwood floors, full bar, bar tables, and a pool table complete the pub ambiance. As an added bonus, there’s also a two-lane bowling alley, swimming pool, gym, theater, spa, and arcade room for alternative means of entertainment during half-time. This resort-like estate is currently listed on the Washington real estate market for $6,995,000.



15 Cape Harbour Pl, Spring, TX 77380 (above)
For Sale: $2,999,000
Talk about an architectural tongue-twister: Here’s a “French colonial constructed of vintage old Chicago brick with an English Pub-inspired man cave in Texas.” That’s a mouthful, but believe it or not, this home really does exist and is listed on The Woodlands real estate market with a recently reduced asking price of $2,999,000. The 5-bedroom, 7-bathroom home is Super Bowl-ready with a “one-of-a-kind man room” that includes a poker table, full bar, kitchen, pool table, dart board and more.


3317 Dartmouth Ave, Dallas, TX 75205 (above)
For Sale: $3,695,000
With its marble columns, wrought-iron chandelier, and painted ceiling, the man cave in this ornate Dallas estate takes you back to the Renaissance. Populated with a mounted, flat-screen TV, dart board, pool table and arcade games, however, makes it an elegant and appropriate destination for hosting Super Bowl festivities. Recently taking a $300,000 price cut, this 4-bedroom, 6-bathroom home is currently listed on the Highland Park real estate market for $3,695,000.

3675 Decoursey Bridge Rd, Cambridge, MD (above)
For Sale: $30,000,000
Noted as “one of the most significant hunting and equestrian estates” — not only on the Cambridge real estate market but in the entire United States — this property called Tudor Farms is sprawling: 6,250 acres and an 11-bedroom, 10.5-bathroom lodge-style home. Super Bowl Sunday festivities wouldn’t be lacking for a proper space here, either. Among the 14,000 square feet of living space is a cabin-like man cave with log columns, corner-mounted TV, pool table, shuffle board and bar



1255 Pacific Ave, Laguna Beach, CA 92651 (above)
For Sale: $7,995,000
Outfitted with white floors, ceilings and walls, there’s no place for messy tailgate appetizers at this gleaming property. A contemporary piece of Laguna Beach real estate, this 9,500-sq ft luxury home includes a sharp entertainment lounge with wet bar and media area for a more sophisticated Super Bowl get-together. Additional amenities include a wine cellar with tasting area, professional-grade gym, sauna, elevator, and outdoor entertaining area with a 74-foot lap pool, spa, and a rooftop deck.



151 Haggetts Pond Rd, Andover, MA 01810 (above)
For Sale: $6,500,000
If a mid-game dip is more your style, then a home with poolside TVs and full bar may be your best Super Bowl bet. Currently listed on the Andover real estate market for $6,500,000, this 9-bedroom, 9.5-bathroom home features an indoor pool with slide conveniently situated next to a bar with two TVs. The massive 20,000-square-foot home also includes a full basketball court, theater, arcade, exercise room, custom locker rooms, billiard room, and bowling alley.

Contact The Mortgage Mark with any Mortgage or Real Estate Questions!

www.themortgagemark.com

mwilkins@capitalfmc.com 

5 Ways to Improve Your Credit Score

5 Ways to Improve Your Credit Score

In today’s world, your credit score can have a significant effect on the financial aspects of your life. Your credit history determines loan and credit card interest rates, can raise your insurance premiums, and can even be a determining factor for getting a job.
Therefore, it’s very important to take steps to achieve and maintain a healthy credit score, and to check up on it frequently to ensure that it is accurate.

1. Pay Your Bills on Time

Your bill payment history accounts for roughly 35% of your credit score, and includes payment of credit cards, auto loans, mortgages, and utility bills. Recent late payments in your credit history have the greatest impact on your score, so if you’ve missed a payment before, avoid repeating this costly mistake!
If you want to boost your credit score, do whatever it takes to pay your bills in a timely manner every month. Use online reminders to help you remember to pay your bills, and inquire at your bank or check with your credit card company to see if they offer email reminders about due payments.
Many companies also allow customers to change the due dates for monthly bills, allowing you to streamline all of your bill payments into one or two occurrences per month.

2. Review Your Credit Report on a Timely Basis

Inaccurate or outdated information can appear on your credit report at any time, and this can significantly hurt your credit score. Identify and correct errors on your credit report quickly using the following steps:

• Request a Free Copy of Your Credit Report. You can order your free credit report online from AnnualCreditReport.com. This is the only website that offers free credit reports, and provides access to reports from each of the three major credit reporting agencies. Once you sign up on the site, you can stagger when you review each of your three credit reports, reviewing one report every four months or so. You can also receive a free credit report if you are denied credit.
• Review Your Credit Report. Once you obtain a copy of your credit report, review your contact information to make sure it is correct. Look for inaccurate information, outstanding balances, and late payments. If you have an open account with the company that reported the late payment, you can call them and ask that they remove it from your credit report. You may also notice a number of inquiries on your credit report, which often merely reflect credit card companies’ efforts to market their products to you. If any inquiries seem unusual, research to find out why they are being made on your account.
• Check Carefully for Bankruptcies and Charge-Offs. Review the details for any bankruptcies and charge-offs on your credit report to ensure their accuracy.
• File a Dispute. If you find errors or incorrect information on your credit report, file a claim to dispute and fix the errors with the reporting agency.

3. Never Close Old Lines of Credit

Many people believe that consumers should close old or unused lines of credit to improve credit scores. Actually, it may be more advisable to keep these lines of credit open.
A large portion of your credit score (approximately 30%) is determined by the amount of available credit you are using. If you have a lot of available credit, but only use a small portion of it, you can improve your credit score.
If you have a few credit cards that you no longer use, don’t let them languish – instead, use them occasionally for a few small purchases and pay them off in full each month. If you don’t use the cards, the issuers may reduce your credit lines or close your accounts. Closing a credit card hurts your credit score.

4. Open New Credit Judiciously

Based on the previous point, you might think that opening multiple new lines of credit will improve your credit score. This isn’t true, however, as opening several new lines of credit in a short period of time will negatively affect your score.
New credit accounts for about 10% of your score, and credit reporting agencies constantly monitor your activity, so open new lines of credit judiciously. If you find good deals on cash back credit cards or credit card sign-up bonuses, tread lightly.

5. Carefully Mix Credit Lines

The mix of credit lines accounts for about 10% of your credit score. If you have a mix of credit cards, loans, and other types of credit, you can positively impact your score. Walk this line carefully so that you do not overextend yourself, however.

Final Thoughts

In addition to paying your bills on time and maintaining lines of credit, other factors play a role in determining your score. For instance, the length of time you have had credit also accounts for about 15% of your credit score.
Over time, as you build and establish your credit, your score will improve. With careful, regularly scheduled awareness and monitoring, you can improve your score and enjoy all the benefits that come with a solid credit history.
What are some of the other strategies you’ve used to raise your credit score?

Contact The Mortgage Mark with any questions!

www.themortgagemark.com

mwilkins@capitalfmc.com

FHA Mortgage Insurance Premiums Rising Again

Last Chance To Beat The FHA PMI Increase

Today's article is titled "Act Today And Beat The Mortgage Fee Increase". It's about the December 2011 Payroll Tax Extension program that passed into law. The government voted to finance the tax break's $33 billion price tag via fees collected on new mortgages. If your next mortgage is either conventional or FHA, therefore, be prepared for new, mandatory loan fees.
For Fannie Mae and Freddie Mac conventional loans, the expected fee hike is 0.125% to your mortgage rate. For FHA borrowers, it's a 10 basis point increase to your annual mortgage insurance premium.
This marks the 5th increase to FHA mortgage insurance premiums in as many years. Because of the changes, it's harder for FHA-insured homeowners to meet the FHA Streamline Refinance program's "5% Savings Rule". Fewer FHA-insured homeowners will qualify for the FHA Streamline Refinance program going forward.
As explained in the article :

"As soon as the FHA announces its increase, thousands of FHA households will be rendered ineligible for the FHA Streamline Refinance. Each time FHA mortgage insurance premiums rise, it gets harder for FHA-insured homeowners to meet the 5 percent savings requirement."

The new fees are expected to be in place very, very soon.
Click here for a rate quote.

Beat The Payroll Tax Fee. Apply Today Instead.

Mortgage rates are low. We all know that. But low rates don't matter if you have to pay an arm-and-a-leg to get them. Each new loan fee; each new price change; each new adjuster -- it all adds up, costing you money. Costs can be so high that low rates no longer matter.
Don't let that happen to you. If your loan is locked and in-process before the Payroll Tax Extension fees go live, you'll be exempted from the fees forever. The trick is to apply before the fees are changed.
Unfortunately, we don't have an exact date on it. Your safest bet, therefore, is to get started with a rate quote now.

Contact The Mortgage Mark with any questions!!

www.themortgagemark.com

mwilkins@capitalfmc.com