Saturday, August 30, 2008

Helping buyers buy your home

Reprinted from "Weekly Real Estate News - Aug. 28, 2008"

"Sellers who can’t find a buyer should look at the terms of their mortgage and, if it is permitted in their area, offer to let a buyer assume their loan."

"Assumable mortgages made in recent years generally carry interests rates below current market rates. Plus, a buyer who can qualify with the lender can step into a mortgage without having to come up with a down payment or pay hefty closing costs."

"The Website HomeAssume.com matches buyers and sellers. "

"FHA and VA mortgages are assumable, as are many conventional adjustable-rate mortgages."

Source: Denver Post, Aldo Svaldi (08/24/2008)

Friday, August 29, 2008

Current loan rates

Here's the scoop on loan rate activity for this past week, courtesy of Troy Chambers, loan officer for Arboretum Mortgage:

"Crazy Rates Continue!"
"Rates are again bouncing all over the place! They are great for a day or two, and then they slide back up. The trick to this whole thing is timing. It is important to be working with a mortgage broker who is consistently reading data, and locking loans at appropriate times. I am available at all times, should you or anyone you know be in need of anything mortgage related. Please call my cell at 425-418-5103 if you have any questions!"

Troy Chambers
Loan Officer
Arboretum Mortgage
Phone: 206-720
Fax: 206-860-9340

Click here to see a table of current rates and loan options.