by Athena Paquette | November 17, 2022 | Blog | 0 Comments

A mortgage is a loan or debt that is secured by real estate. In some states it is also the word used for the lien that is put on the property to secure the debt. Normally this loan is paid back over a specific time , like 30 years or 15 years, until the entire...

How raising the prime rate makes mortgage rates go down

by Athena Paquette | September 26, 2022 | Blog | 0 Comments

I have talked about this before but I think it is worth revisiting after our talk last week about the prime rate. The Federal Reserve raised the Fed Funds rate (often confused with the prime rate) by 0.75% this week.to 1.75% it was 0.25% a year ago. The highest 1-day...

Mortgage Minute – ARMS and HYBRIDS

by Athena Paquette | September 19, 2022 | Blog | 0 Comments

What do you do when mortgage interest rates jump up 2% in 4 months? Don’t go LONG, go SHORT use a HYBRID ARM loan ARM means adjustable-rate mortgage. But some people are not comfortable with the idea that their mortgage payment and that the interest rate will start...

Mortgage Minute – Adjustable rate mortgages or ARMS

by Athena Paquette | September 12, 2022 | Blog | 0 Comments

When rates go up, we usually see a switch over from the 30 year fixed to ARM loans. Why go LONG at a high rate when you can go short at a lower interest rate and get the upfront savings? People do this to help ease the payment shock of rates going up and to help them...

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You Need a 640 Minimum Credit Score to Get a Loan

Sep 11, 2015 | Blog, Home Owners, Investors, Realtors

FALSE. You can have a BLANK credit report, even as low as 560 credit score. FHA has no actual printed guidelines on credit scores. You may know someone who never established traditional credit because of their cultural or spiritual beliefs, or they just plain didn’t....

Jobs, Jobs, … and Jobs

Sep 5, 2015 | Blog, Home Owners, Investors, Realtors

JOBS JOBS YAWN… The Labor Dept. announced the monthly jobs report today with a big yawn from the investor community. They reported 173,000 jobs were created, but expectations had been that the number would be 218,000. Historically, this number gets revised, so the...

This Weeks Win 9-5-15

Sep 5, 2015 | Blog, Home Owners, Investors, Realtors

She tried to do the right thing and got turned down. I had a client come in to refinance after her friend had been telling her to do this for 2 years. She had been turned down by 2 big banks for the same reason… Ms. Conscientious Client (name changed to protect the...

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