Vax D and Mortgages

VAX D what does that have to do with Mortgages? Nothing however see what some of Dr. Steve’s patients say about it. http://youtu.be/x8bMowSPQe0

I like good news don't you

Had an appraisal come in almost 5% higher than the purchase price :)

Simple Truths - We Hope You Enjoyed the movie!

Simple Truths - We Hope You Enjoyed the movie!

Take the time to sit back and take a deep breath.

Tim Tebow and what is he about.

http://youtu.be/VDM2oaXkh4k

Some up beat music

There is light at the end of the tunnel and they are not necessarily extending the tunnel for now.


News Happenings

http://ow.ly/7Q2UA

According to a recent survey by the National Association of Realtors (NAR), the typical U.S. homebuyer spent less and borrowed less in 2011. NAR's annual Profile of Home Buyers and Sellers, which due to methodology tends to under-represent investors versus owner-occupied properties, reported that "first time buyers, who made up 37% of the market, down from an historic 40% share, had a median age of 31 and income of $62,400, up from $59,900 in the 2010 study. This buyer typically bought a 1,570 square foot home for $155,000, taking on a median monthly mortgage principal and interest payment of $794. The typical repeat buyer was 53 years old, earned $96,600 (up from $87,000 reported last year) and purchased a 2,100 square foot home for $219,500 with a median payment of $1,006." Most purchased a SFR (77%), 9% a condo, 8% a town or row house and 6% some other kind of housing. The median down payment for all buyers was 11%, however for first-time buyers it was 5% and for repeat buyers 15%. In both cases the median was a full percentage point higher than in 2010. Fifty-four percent of first-time buyers financed with a low-down payment FHA mortgage, and 6% used the VA loan program which requires no down payment."

Large and smaller print:
According to a recent survey by the National Association of Realtors (NAR), the typical U.S. homebuyer spent less and borrowed less in 2011. NAR's annual Profile of Home Buyers and Sellers, which due to methodology tends to under-represent investors versus owner-occupied properties, reported that "first time buyers, who made up 37% of the market, down from an historic 40% share, had a median age of 31 and income of $62,400, up from $59,900 in the 2010 study. This buyer typically bought a 1,570 square foot home for $155,000, taking on a median monthly mortgage principal and interest payment of $794. The typical repeat buyer was 53 years old, earned $96,600 (up from $87,000 reported last year) and purchased a 2,100 square foot home for $219,500 with a median payment of $1,006." Most purchased a SFR (77%), 9% a condo, 8% a town or row house and 6% some other kind of housing. The median down payment for all buyers was 11%, however for first-time buyers it was 5% and for repeat buyers 15%. In both cases the median was a full percentage point higher than in 2010. Fifty-four percent of first-time buyers financed with a low-down payment FHA mortgage, and 6% used the VA loan program which requires no down payment." see more here

Thanksgiving

It has been another challenging year of change and opportunity. In the mortgage industry, we have been impacted daily by new regulations and investors’ demands for quality. At the same time, we have been able to take advantage of low interest rates, resulting in increased application volume.

Everyone has worked hard and worked together to serve our borrower(s). Thank you for your commitment to quality and to excellence. Our offices will be closed on Thursday and Friday as we all take time to enjoy this holiday with friends and family.



I hope you all have a safe and Blessed Thanksgiving.


Warmest Regard,

Mr. Will