http://www.breitbart.com/system/wire/D9VHIPNG2
US mortgage rates are at an all time low. Now is the cheapest time to have a mortgage with rates around 3.66%.
http://www.breitbart.com/system/wire/D9VHIPNG2
US mortgage rates are at an all time low. Now is the cheapest time to have a mortgage with rates around 3.66%.
A reminder for anyone buying a home in the near future and needing a mortgage: Brought to you by Mark Miskiel at The Lending Company (A local Sedona Mortgage Company).
As black Friday approaches and the Christmas shopping season starts, take caution to resist the store promotions where you open a new credit account and get a big discount at the register for doing so.
While it may be tempting to take advantage of the in store promotion, opening that account could potentially harm their credit score enough to preventing closing the mortgage loan or making a pre-qualification null and void.
Opening “New Credit” accounts can impact a borrower’s credit score up to 85 points because the credit bureaus take the following into the consideration.
It’s no news that mortgage lenders have been increasing the minimum credit score to obtain a mortgage. Also, there is a new requirement for the lenders to pull a “soft” credit inquiry right up to the point of funding the loan to ensure the borrowers credit profile has not changed. While the in store promotions may look great, the borrowers may want to carefully consider if accepting such a promotion is worth the risk of no longer qualifying for a mortgage.
I am here to help if you have questions about this or other lending topics.
Happy Holidays!
Mark A. Miskiel – Residential Lending Specialist
The Lending Company – Verde Valley
Office: (928) 634-7987 (rings to cell when out of office)
USDA is BACK!
I know I mentioned some great mortgage news would be coming your way with this week’s newsletter and we have had a development in the mortgage world that you MUST know about.
It is official as of this week….the rural housing mortgage program from the United States Department of Agriculture (USDA) is back. Yes, the same people that certify our beef at the grocery store offer a mortgage program. It’s a great program too.
This is HOT news. 100% mortgage loan programs are virtually dead unless you are a Veteran. Just because it’s USDA doesn’t mean you have to buy a farm. In fact, thats prohibited in the program.
Here’s the best news, the entire Sedona area is included in this program and is considered rural. The closest exclusions are Prescott and Flagstaff.
Does your real estate agent keep up on programs like these? Do they even know they exist?
Be sure to use a full time professional Realtor.
Susan Deierling, ABR, CRS
Assoc. Broker
RE/MAX Sedona
Sedona AZ
(928) 451-6098 mobile/text/VM
(888) 494-0470 (US & Canada)
susan@sedonaemail.com
Troy Deierling ABR CRS
RE/MAX Sedona
Sedona AZ
(928) 202-0700 mobile/text/VM
troy@sedonaemail.com