How much does a mortgage broker make in yield spread premium on an FHA mortgage loan?
Question by Ignacio H: How much does a mortgage broker make in yield spread premium on an FHA mortgage loan? The broker that I spoke with today quoted a 7.125% rate that seems pretty high. He is also charging a 1% origination fee. Am I getting ripped off here? Best answer: Answer by Larry TWhat does your Truth-in-Lending Statement say? Have you checked the FHA Website for names of local lenders? Have you heard of www.naca.com? Their rate is 4.75% and you don’t have to have perfect credit! What do you think? Answer...
Read MoreReal Estate Broker Price Opinion – The Importance of Hiring a Local Real Estate Appraiser to Value Your Property
by robswatski Belize Real Estate Investment Security Article by Real Estate Belize Read more aboutReal Estate here… by Dave-F This Year Real estate prices in Armenia will Stay Unchangeable “Till the end of this 2011 year there would not be any changes in the Armenian real estate prices”, information pills announced the executive director of the Association of Mortgage Market Participants Edward Oremyan.As to him, nowadays the demand for the real estate in Armenia is high enough, but the further development of the real estate market depends mainly on the improved demand of customers. Mr. Oremyan also mentioned that the level of solvency of Armenian population has not increased, which has a direct impact on the Armenian real estate market.According to the State Real Estate Cadastre, the number of real estate transactions recorded in the first quarter of 2011 year increased on an annual basis by almost 28% to 36.499$ . The rising of the prices for the quarter ranged from 1.5-3% depending on location. Hence, according to the inventory, the average prices of the metropolitan housing in a tower block set at the level 271.000 AMD per sq.m and in private housing -281.000 AMD per sq.m. In regions the highest prices of houses have been established in cities such as Abovyan and Vagharshapat (starting from 160.000 AMD per sq.m), Ashtarak, Goris and Ijevan (nearly 140.00 AMD per sq.m). This year the most active region came to be Kotayk with 14% of the total number of transactions. “Yerkir” real estate agency is engaged in a realtor activity in Armenia. We provide realty services, legal support, draw documents for purchase, sale, rent of housing and commercial estate. Our company is founded in 2004 and worthy stands as one of leading players among the professional realtor companies in Yerevan. Our company’s specialists have more than 10 years experience in real estate market. High qualification of our experts guarantees the operative solution of our clients’ problems of any complexity. Our company is one of the founders of Association of realtors of Armenia. Membership in Association trust of our clients, strengthens its authority in the real estate market. We have excellent reputation among partners and clients, and we are proud of our professionalism. We have certificates on all kinds of realty services in the territory of Armenia. Certificate (???0487) is granted by Certification Agency of broker services. Armenian real estate agency “Yerkir” renders a full range of realty services in Yerevan real estate market and all over Armenia. Yerkir real estate agency will provide you with a fast search in constantly updated, actual base of real estate, advantageous purchase offers, sales, rent of housing and commercial estate, services of high qualified realtors, and legal support. Article from articlesbase.com Read about Real Estate here… by Dave-F Real Estate Broker Price Opinion – The Importance of Hiring a Local Real Estate Appraiser to Value Your Property Real Estate Broker Price Opinion Many people try to determine the values of their real estate by researching websites that value a home based on aggregate data collected through various means. While these online services can be quick and seem easy, seek computer generated reports can be grossly inaccurate. More often than not, advice computer data collected from outdated and often unreliable resources can cause issues when trying to determine a fair value of real estate in any specific market. These websites may be of some value in showing valuation trends, what is ed but can in no way replace the services of a local real estate appraiser. Real Estate Broker Price Opinion Highly trained professional real estate appraisers,...
Read MoreNotorious broker found dead
by paolakosch By Martha C. White A disgraced securities broker who was 1 of the subprime mortgage market’s chief magicians was identified dead of an apparent suicide in his South Florida condo this week. Mortgage News For much more informaiton please visit...
Read MoreFirst time home buyer, should I use a mortgage broker or go directly to a bank?
Question by Jeff S: Can my mortgage broker foreclose on me? In march I did a FHA refi. the mortgage broker messed up big time on my escrow and put me in a big bind. FHA kicked the loan back and is not insuranable so the broker wants me to sign a modification agreement. I refused to sign it till they correct their mistake. They then told me that they can forelcose. Is this possible? Best answer: Answer by golferwhoworksnot the broker– FHA Know better? Leave your own answer in the comments! Question by Sana: What I need to do about my 2nd lender? I can qualify under Modification Program but I also need to lower my2nd? I can refinance my 1st loan but how I can refinance my 2nd loan? In this program is saying that you can do only 1st one? Best answer: Answer by debijs~~Contact the lender who owns your second. Tell them of your financial hardship. If it is through a bank, visit they are suppose to send you information for a loan modification also. Good luck~~ Know better? Leave your own answer in the comments! FHA Streamline Refinance Without Credit History Known as a quick and easy process, more about the FHA streamline refinance is available without the need of a credit history. The FHA streamline refinance is available to homeowners who want to refinance their existing FHA loan. Because FHA wants homeowners to … For more informaiton please visit here… How do I handle a short sale and FHA loan? With FHA short sales, the usual process you must go through involves two levels of negotiators to get approval from the U.S. Department of Housing and Urban Development (HUD). From my experience, it always seems like each level of the negotiation phase … For more informaiton please visit here… Finance Committee Chair Suggests FHA Could be Next Countrywide In its current form FHA is clearly an impediment to such a system. " The Chairman said FHA had strayed far from its original purpose and no longer focuses on low and moderate income Americans but rather caters to a risky market with high loan limits … If you would like more informaiton please visit here… Question by sam: Does anyone know of any programs out there to save a home that has already been in foreclosure for a week? The type of the loan is FHA and I have few months left and unable to get help on any government programs out there. Your feedback is greately appreciated. Best answer: Answer by BeckyThere are all kinds of programs out there — but, approved you have to Qualify for the assistance. To do this there has to be a hardship but there also has to be an income. The investor is not going to modify the loan if there is no income or not enough income to support a monthly payment. The first thing you need to do is gather your general monthly expenses. List all of those on a sheet of paper. By *general* I mean utilities, groceries, cell phone/cable, credit card, tuition, personal loans, car payments, etc. Also add in your mortgage payment. Subtract all that expense from your monthly income.. Is there a deficit or surplus? If there is a deficit that is more than $ 100 what is it and what unnecessary expense can go away to bring you to a surplus situation? Is there a car payment somewhere? Are you paying high monthly payments for credit cards? Maybe BK is the way to go for those types of expenses, but...
Read MoreHow Can a Mortgage Broker Help You to Get FHA Home Loan
by I See Modern Britain How Can a Mortgage Broker Help You to Get FHA Home Loan Article by Aaliyah Wyatt Introduction Mortgage products are constantly evolving. Many lenders offer conventional loan programs such as a 30-year fixed-rate mortgage or a 5-year adjustable-rate mortgage. Some lenders may add new loan products to their core programs. A consumer may need to contact several banks to locate the ideal loan program for their situation. If you are looking for attractive interest rates and terms, a mortgage broker could help you find the type of loan that you need. Generally, a broker has access to a wide variety of loan programs. Some of the programs use government-backed financing such as an FHA Home Loan or a VA Home Loan. You may be qualified to receive an FHA loan. About Residential loan brokers routinely check the marketplace for attractive financing options. Unlike a banker, a loan broker will comparison-shop the interest rates from local and national lenders. A loan specialist generally keeps a record of lenders who offer competitive interest rates, as well as specialized programs. Using a variety of lending resources, a mortgage specialist could help you get a HARP Loan or an attractive VA Home Loan. Most mortgage brokers are commissioned-based professionals who only receive compensation for funded loan transactions. You can expect that a mortgage professional will work diligently to find the type of loan that you need. Tips and Strategies A loan officer will ask that you complete an application. Permission to review your consumer credit report will be requested. After reviewing your information, your loan officer can provide guidance toward programs that you might be qualified to receive. If you have past due bills, collection accounts or other forms of adverse credit, your loan officer may suggest that you take specific actions. Typically, to receive an FHA Home Loan, you will need a favorable credit profile and an acceptable credit score. You may be advised to satisfy certain bills. In some cases, suggestions may be made toward reducing your outstanding balance on certain credit card accounts. These strategies could be used to improve your credit score or to lower your debt-to-income ratio. Mortgage brokers are among the most knowledgeable and resourceful loan professionals, as their livelihood depends on an ability to deliver great rates and services. Summary Generally, brokers will attend conferences and trade shows to learn about innovative loan programs that might benefit their clients. In order to remain licensed, mortgage brokers are required to receive annual training and to successfully complete continuing education courses. Working with a loan professional could help you obtain an FHA loan. About the Author Aaliyah Wyatt recommends Metrocity Lending specializes in matching home buyers with the right mortgage. We are committed to providing the highest quality service available anywhere. Call us today to learn more about how we can assist you in buying your new home with mortgage assistance or by providing FHA reverse mortgage services. For more informaiton please visit...
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