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05 February 2018

Capital Markets Update

Yup, rates have moved higher. The U.S. economy is doing well, and, in addition, supply and demand shifts are moving rates as well. Investors are concerned about increased bond market supply (higher supply = lower bond prices = higher rates) due to fiscal spending initiatives. Spending typically stimulates the economy, and investors are concerned about rising growth and inflation, either of which are bad for rates. Investors are worried about the first group of investors and thus are making trades to try to get ahead of them, pushing rates higher.Global monetary policy seems like it may be on the verge… Read More

Here’s what you should do and should not do to ensure a streamlined loan review and on-time closing. ■DO complete your application thoroughly. The process will be faster if we don’t have to contact you for missing information. ■DO respond to all questions and requests quickly. Additional information may be needed to help the underwriter make a decision. Fast responses will help your loan close on time. ■DO disclose all loans and credit. Be transparent so your application won’t get delayed. ■DO be available as your closing date approaches. Allow time to review and sign documents and to pay your closing… Read More

Ramping up refinancing Millennials aren’t just buying homes at record rates nowadays. According to new data from Ellie Mae, they’re also refinancing their existing ones.Good rates, great refinance opportunities According to Ellie Mae’s Millennial Tracker, which analyzes monthly closed loan applications from buyers born in 1980 to 1999, refinances made up 14 percent of all Millennials’ closed loans in September. That’s the highest refinance share since February. Joe Tyrell, EVP of corporate strategy at Ellie Mae says the uptick is likely due to historically low interest rates. “With average interest rates falling to their lowest point in 2017, Millennials are… Read More

31 October 2017

Death of Bond

If you or a client were planning on applying for the Florida Housing $15,000 Bond Program, DO IT NOW! Florida Housing has announced that they will be pulling the program as of mid December 2017. Income limits on this program are $81,900 per household and will scale back to the original Bond program that offers $7,500 with income limits between $59,463 – $69,960. In order to secure the $15,000 you must have attended a Down Payment Assistance program, be fully pre-approved, have a fully excecuted contract and the lender must have you registered with the FHFC. For more info or… Read More

Interviewed by Rhonda Eaves of Real Property International Bruce was recently honored to sit down and speak with Top Producer, Rhonda Eaves of Real Property International at her office in Windermere, FL. See her interview of Bruce below: Cross Country Mortgage, Meet Branch Sales Manager Bruce Woodburn Are you looking to buy a house and want to know about your home loan options?  Learn about Cross County Mortgage and what makes them different from other home loan companies from Branch Sales Manager, Bruce Woodburn. Tell me about Cross Country Mortgage Cross County Mortgage is a direct lender that is nationwide including Alaska… Read More

How to Buy a House: The 5 New Rules That Can Make or Break Your Offer Source: www.Realtor.com, By Daniel Bortz | Apr 26, 2017   Rule No. 1: Prepare for a marathon house hunt With today’s low housing inventory and strong buyer demand, it might take you three to six months to buy a house—and maybe even up to a year in some of the country’s tightest markets. Prepare accordingly. You’re more likely to encounter a multiple-offer situation today than in years past, says Sanderfoot, vastly complicating many negotiations. So don’t presume you’ll be moving any time soon. If you do have a fast-approaching deadline for… Read More

Home In One: The 1% Down Program From CrossCountry Mortgage, Inc. Not everyone can put 20%, 10% or even 5% down on a new home. It’s a significant amount of money that can take a long time to save. That’s why CrossCountry Mortgage, Inc. offers Home In One, our 1% down program. PROGRAM BENEFITS A combined 3% down payment: 1% from you and 2% as a non-repayable gift from CrossCountry Mortgage, Inc. Funds for the down payment and closing costs can come from family, secondary financing, and more Available as a 15, 20, or 30-year fixed-rate mortgage Also available for… Read More

Buying a home is a major financial decision — one of the largest you’ll likely make in your lifetime. A significant part of this process is saving up for a down payment. Many homebuyers will work hard and save for many years to build up their savings for this important purchase. But what amount is right for you? That all depends on the cost of the home you’re looking to buy and what your personal financial situation and goals are. GOING CONVENTIONAL The traditional down payment amount is 20%. For example, if the home you’re looking to purchase is $200,000,… Read More