Jan 20
This video is broken into 2 because of its size. Please watch Part 2 at the end..
Duration : 0:10:30
Jan 19
Several of Canada’s big banks are dropping their fixed Mortgages to record-low levels – less than three per cent. Francis Silvaggio reports.
Duration : 0:2:34
Jan 18
http://www.kw.com
An Adjustable Rate Mortgage may offer a lower initial interest rate and monthly payments than a conventional fixed rate mortgage.
After an initial term, the interest rate on an adjustable-rate mortgage Loan is re-set periodically to keep the rate in line with current market interest rates. For example, a 3/1 ARM loan offers a fixed rate for the first three years. The interest rate adjusts once a year thereafter. 5/1, 7/1 or 10/1 ARM loans offer a fixed rate for the first five, seven or ten years respectively, adjusting yearly thereafter. The lender sets the adjustable interest rate by adding a fixed percentage to an index rate. When the interest rate goes up, your monthly payment also increases.
Most ARM loans have a periodic rate cap and lifetime cap to limit the amount the interest rate can increase each adjustment period and over the term of the loan.
If your start rate is less than the fully indexed rate your interest rate and monthly payment may increase significantly at the first adjustment — even if the Index does not change. And, your interest rate and monthly payment will increase even more if the Index rises.
Discuss with your mortgage professional how an adjustable rate mortgage may be the solution to your financing needs.
For more information, please contact a Citi Mortgage Consultant at 1-877-693-0217.
Duration : 0:1:49
Jan 06
http://www.REIClub.com – Are FHA Loans Good for Home Buyers? Here Are The Pros and Cons To An FHA Loan.
Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on the pros and cons of Federal Housing Administration (FHA) Loans.
What are FHA Loans?
The FHA doesn’t lend you the money, they guarantee the loan, so the lender doesn’t take on a financial risk by extending you credit. the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults — the FHA will pay.
The insurance removes or minimizes the default risk lenders face when buyers put down less than 20 percent. Without further approval from FHA, its approved lenders are authorized to:
Take Loan applications
Process loan applications
Underwrite and close the loan
FHA Requirements: http://www.fha.com/fha_loan_requirements.cfm
- mortgage insurance – policy that protects lenders against losses resulted from defaults on home mortgages
- fha loan limits – variety of housing types, state and county in which the property is located.
- loan checklist – information needed by your loan officer
- closing costs – only some closing costs are covered, rest to seller
- fha dept ratios
- fha credit issues – no credit, bankruptcy, foreclosure
Pros to FHA Loans
- low down payments – 0-3% down payment
- low interest rates
- better chance for loan approval
- credit score is not highly weighted – but credit is needed
- flexible repayment terms – multiple options
- work with you – during hard times
- lower monthly mortgages
- Bankruptcy/Foreclosure – after 2 years you can re-qualify with FHA
Cons to FHA Loans
- not for everybody
- low limits – may not cover total cost of home
- strict Mortgage insurance policy – premiums – 1% upfront, .85-.9% annually – 5 years
- need established credit
- limited options – long-term home ownership
Despite some of the drawbacks of FHA loans, FHA Home Loans serve perfectly the needs of some clients. So, you should educate yourself about both their cons and pros and check whether you are one of those clients.
If I by chance you are interested in pursuing FHA loans, be sure to go to a lender that is “direct endorsed” with FHA and only deal with people who have been doing this for a few years.
Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.
Duration : 0:4:40
Jan 05
Statistics you can access from the ABS that call into question why the average First home owner Mortgage is so large and why there is a very real chance Australia’s property prices will fall dramatically within 12 months.
Duration : 0:6:24
Dec 18
http://www.kw.com
A Fixed Rate Mortgage offers peace of mind. Regardless of fluctuations in the market, your principal and interest payment remains the same for the duration of the Loan.
Lenders generally offer Fixed Rate Mortgages for 10, 15 and 30 year terms. The longer the term of your loan, the lower the monthly payment will be. With a shorter term, you will build equity in your home more quickly.
Because they offer a monthly payment that is known and does not change, fixed-rate mortgage loans are the traditional choice of home buyers who plan to stay in their home for many years and want to build equity in their home.
For more information, please contact a Citi Mortgage Consultant at 1-877-693-0217.
Duration : 0:1:9
Nov 25
Find out the meaning of this popular asset-backed security and its benefits for banks and investors.
By: Investopedia
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Duration : 0:1:49
Nov 24
This week Peter Campellone reviews the stories about Harp, Orange County Property Values, Adzookie and our nations Weekly Financial Reports.
There is newly released information about Harp 2.0 regarding the removal of Loan to Value ratio ceilings and reduction of credit score requirements for underwater homeowners.
Orange County has been in a “Matrix” style of home value “Reloaded” because it has been the 3rd time that average home values have averaged $405,000 in the last 7 years.
A local Orange County company, Adzookie, has figured out how to recession bust your house payment. They are offering to paint your home a displaying a local advertisement and in exchange offering to make your house payment for the duration the ad runs on your home. You can check it out at http://www.godialing.com/paintmyhouse.php to learn more about the promotion.
Lastly, this week, 4 new reports hit the top of the charts that may effect interest rates.
Duration : 0:3:57
Nov 14
Plenty of companies are eager to exploit the uncertain economy and housing market by trying to separate property owners from their money, consumer columnist David Lazarus says. Here’s what to watch out for: http://lat.ms/vyed8L
Duration : 0:1:27
Nov 13
http://EverythingFinanceBlog.COM:
An escrow is when you include your taxes and insurance with your monthly mortgage payment.
Read More: http://everythingfinanceblog.com/2007/11/Mortgage-escrow-to-do-or-not-to-do.html
Duration : 0:1:8