Aerick Squier 480-220-5254
http://mywjb.com/aerick-squier/
Duration : 0:2:15
WJB Arizona Mortgage – Aerick Squier Testimonial
Mortgage Minute: ARM
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
Maryland Down Payment Assistance Programs
http://www.chrisjenkins.remn.com
Maryland Down Payment Assistance Program or CDA. The Maryland Mortgage Program through CDA offers homebuyer down payment and closing cost assistance. Maryland’s CDA program offers down payment and closing cost assistance through different programs such as DSELP, Keys for Employees and other programs assisting in helping homebuyers with down payment and closing cost assistance programs. The Maryland Mortgage Program / CDA is offered through Maryland Department of Housing and Community Development.
Duration : 0:4:58
WJB Arizona Mortgage – DRIVEN
http://www.WJBonline.com – 480.559.9590
WJB Arizona Mortgage
Duration : 0:1:18
Fixed and Adjustable Rate Mortgages Compared Interest Only
(Best Syndication) This video will explain various mortgage options including a fixed rate mortgage (sometimes called a FRM), an adjustable rate mortgage (sometimes referred to as an ARM), and interest only loans. Although fixed rate mortgages are usually more desirable, there are instances when customers may want to choose either an adjustable rate mortgage or even an interest only loan.
The interest rate of a fixed rate mortgage remains constant throughout the loan term. Payments are fixed and will not vary, and this amount is independent of the additional costs on a home including as property taxes and property insurance. Some lenders may require an impound account for both taxes and insurance. This benefits the lender by ensuring that these required payments are made.
If there is very little money down, the lender may require an impound account. But impound accounts can confuse the borrower who is not sure if those payments were actually made. In some instances they may continue to be billed by the county assessor and / or the insurance company.
Adjustable Rate Mortgages have become very popular lately. They are characterized by low initial payments which make it easier for the borrower to qualify. This allows borrowers to qualify and purchase larger homes.
The payments may be adjusted periodically with the interest rate tied to an index. Common indexes include the 11th District Cost of Funds Index (COFI), London Interbank Offered Rate (LIBOR), 12-month Treasury Average Index (MTA), Constant Maturity Treasury (CMT), National Average Contract Mortgage Rate, or the Bank Bill Swap Rate (BBSW).
Adjustable rate mortgages are usually easier to qualify for because the lender is protected from spikes in interest rates. But lenders and investors need to consider the default rates due to hybrid adjustable rate mortgages which offer an initial low payment period. After that period the loan payments are adjusted upward and may even double leading to defaults and foreclosures.
But what do the numbers mean in Hybrid mortgages? A 3/1 ARM means the payment is fixed for a 3-year period and a subsequent 1 year adjustment period. After a specified “reset date” the loan is free to adjust or “float” to the index specified in the loan documents.
When interest rates are high borrowers may prefer an adjustable rate loan. If a borrower feels that he or she may sell their home within five or maybe ten years, they may consider either an adjustable rate mortgage or an Interest Only Loan. If property values increase in that period the home buyer benefits because they invested less money compared to a standard Fixed Rate Mortgage.
Borrowers with Interest Only Loans pay only the interest for a specified period of time. Unlike Adjustable and Fixed Rate Mortgages, no principal is paid on the loan. At the end of interest only period the loan may convert to a regular amortized loan or a balloon payment may become due. The terms are spelled out in the loan agreement.
In the United States a five or ten year interest-only period is typical. After that time the loan usually converts to a regular amortized loan for the remaining term. For instance, a homebuyer may pay interest only for 10 years but then pays both interest and principle for the remaining 20 years of a 30-year loan.
Adjustable rate and interest only mortgages can help buyers qualify for larger loans and homes. There is a risk to both the borrower and note holder when the loan either resets or converts to a regular amortized loan. For this reason lenders will usually require a higher interest rate on these types of loans.
Homeownership offers many advantages when compared to renting. This presentation was not meant to be advice. Always consider all of your options and talk to loan and / or real estate professionals before making your decision.
Duration : 0:5:37
Mortgage Minute: FRM
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
Mortgage Underwriting Standards
http://www.chrisjenkins.remn.com
Many people believe mortgage underwriting standards are becoming tighter and stricter. However, tighter underwriting standards are a myth. In fact mortgage underwriting standards are easing slightly for qualified home buyers.
Duration : 0:3:30
Mortgage Broker – Construction Mortgage – Victoria BC
Renovation/Construction Mortgage Video Blog.
If you are looking at building a new home or doing major renovations and need mortgage financing you will be looking at obtaining a construction mortgage. Construction mortgages are also referred to as a draw mortgage, builders mortgage, or renovation mortgage.
If you are building a home from the ground up on your own (called a self-build) or through a builder and you do not have enough cash to pay for the whole project (who does really) you will need to obtain a specific type of mortgage that deals with all the different stages of building a home.
Unlike a regular residential mortgage on a complete home where the lender funds all of the required money on the date of possession a construction mortgage is advanced in stages. There typically are 4 stages where funds can be advanced. Those include when the foundation is complete, when the home is at lock up stage (framed, rough electrical and plumbing, and windows and doors are in), drywall complete and ready for paint and then the rest will be advanced when the home is complete. In some cases there also may be an advance to cover some of the cost to purchase the land that the home is being built on.
A construction mortgage may also be required when completing a major renovation on an existing home. In this situation a specific advance schedule will be determined between the lender and the consumer.
If you are looking at building a new home or purchasing a home that needs a substantial renovation contact Stephen Foster at www.stephenfoster.ca or give him a call at 250-889-7862 to discuss any of your real estate needs.
For more information on construction mortgage or any other mortgage visit www.jasonroy.biz or contact Jason Roy Residential Mortgage Specialist with TMG — The Mortgage Group Canada at 1-866-612-1312
Duration : 0:3:6
1st Time Home Buyer Webinar 2011
This is a brief informative webinar to help home buyers understand the qualifications for purchasing a home. Questions may be sent to CUSTOMERSUPPORT@NATHOMELENDING.COM
Duration : 0:3:57
Arizona Mortgage Refinance Loan Program| HARP Program |
This is good news finally some good news for those of you who are
current on your mortgage and are upside down in your value and would
like to take place in the low current mortgage rates, but never were
able to because you simply owed more than your house was worth,.. well
finally, this is for you.
I’m Tylor More your Arizona Mortgage Man with your tip of the week!
There have been a number of Gov’t Housing Programs that have well
simply failed to gain traction against the housing depression. Now
there is a new Program being pushed by State and Federal Officials a
program that would allow people that are up to date on their mortgages
to get a new loan at today’s record setting low interest rates.
Could it work, well we shall see but at least we are headed in the
right direction with this program. Most of the major banks are already
on board with this program and are adjusting the following:
Lower Fees, Lower Rates and Lower Requirements…. This has the potential
to be a HUGE Win for those paying their mortgages on time with good
credit.
We will know more as time goes it is said that this program will take
effect November 15th
So stay tuned and follow me.
facebook.com/BestArizonaMortgage
linkedin.com/in/tylormore
Google+ tylormore
Duration : 0:1:39