Earlier I touched on Adjustable Rate Mortages (ARM). Now I want to jump into the fixed rate mortgages.
They say it is time to refinance when your rate is 1 percentage point higher than what you can get on a new loan. So with loan rates dipping below 6% and possibly going lower towards […]

Have you been waiting to refinance your home or to buy a home? The time may be coming pretty soon to get that new mortgage. I believe that there is about an 75 - 80% chance of at least a quarter point reduction when the Feds meet next week. There is also […]

Investing in your own home. I have rented most of my married life. Now I am in my own home as most of you know as you have been reading about our 2 week close on our mortgage.
Fixing things in your own home is so much better than fixing up someone else’s home. […]

Closing fast on a home is not that hard to do. Get your paperwork in, and get the required things done as soon as possible.

Our home loan closing yesterday went down without a hitch. We are now the proud owners of a very nice home with a pool in The Woodlands, TX. On a side not if you are looking for a great place to move that is still affordable yet has all the nice things then The Woodlands, Texas is the place for you.

I will be talking more about homes, the purchasing of homes, and mortgages in the coming days and weeks.

If you are looking for a fast home close it can be done. I know because I just closed my house in 2 weeks!

Today we are closing on a home in the North Houston area. We are excited like most people are when closing on a home. The mortgage with E-Loan took 2 weeks from the time we had an accepted offer to close! That is fast service.
We worked hard getting inspections, appraisals, title work […]

Each point paid on a 30-year mortgage normally lowers the interest rate by 0.125 percent. That means a 6.5 percent rate would be lowered to 6.375 percent if you purchase one point on our mortgage.

So figure out how much the point costs you and then find your break even point. Figure out how much you are saving each month by paying for the point and divide the amount paid to find out how many months to break even by purchasing the point on your mortgage.

If it is longer than you plan on staying in the home, it would not be wise to buy points on your mortgage. If you plan on staying longer than the cost of the point then it is often times a good decision to purchase the point.

Also points are tax deductible in the year that you pay them. So this is often times nice as well when looking for tax deductions.

I am purchasing a point and negotiated for a little over a half a point free. This was tough to get, but was worth the persuading of my loan officer.