Home Loan Mortgage Rates Hover Around 4.5% The Week Of July 19 2010
Now Would Be A Good Time To Buy A Home At Historic Low Rates
Now Would Be A Good Time To Sell Your Home Because More Buyers Qualify To Buy Your Home With An Inexpensive Home Loan
Now Would Be A Good Time To Refinance Your Home Loan And Lower Your Payments
Being "Erick, the local real estate guy" often attracts questions everywhere I go in the course of my day. A quick trip to the Safeway can turn into an hour event because folks recognize me and ask about real estate.
The message I have for you, and the folks who see me, is NOW would be a great time to lock-in a low home loan rate.
Markita Aldridge-Woods, the Queen Of Mortgages sent me this week's home loan rates, broken down by program
|
Program |
Rates |
Lock |
|
FHA 30yr. |
4.500% |
30 day |
|
VA 30yr. |
4.500% |
30 day |
|
FHA 203(k) |
4.750% |
30 day |
|
VHDA, FHA Plus |
4.125% |
30 day |
|
FHA 15yr |
4.00% |
30 day |
|
VA 15yr |
4.00% |
30 day |
All rates subject to change until time of lock in... Rates shown include 1% origination fee. Based on $417,000 loan amount or less.
Text my phone at 703-677-1120, or call my cell at the same number, or contact me now by email Click Here
Contact Peggy James or Erick Blackwelder of Erick and Company - Exit 1st Choice Realty,14029 Crossing Place, Woodbridge VA. 22192. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office) to list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Montclair, Dumfries, Occoquan, Dale City, Gainesville area's
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Are the lenders tightening up their purse strings because of these low fees?
incredible rates
Dear Beckendorf,
FHA and VA loans have used the same qualification standards, regarding debt-to-income, and credit-worthiness over the course of my 20+ years helping folks buy a home. The purse strings did not loosen-up 2001-2006 for FHA and VA loans.
The loans that got rediculously loose were conventional loans that bypassed Fannie and Freddie, and went straight to Wall Street to be sliced and diced into pieces that were spread across Mortgage Backed Securities (MBS), 2001-2006. Many of those loans were fraudulent* when the buyers were signing at the closing table.
* I am not an attorney. For competent legal advice regarding fraudulent lending I urge you to seek the counsel of the licensed attorney of your choice.