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Mortgage news and helpful tips

If you are considering Strategic Default - Don't!

Fannie Mae has announced stiffer penalties to consider if you decide to walk away from a mortgage that you can afford to pay. Starting in the fall, Fannie Mae will disqualify borrowers for a period of seven years if they choose to default on their mortgage even though they have the ability to pay.

Las Vegas Mortgage Rates

Here's our Weekly Rate Summary! Don't forget to come back and see what's new and if you can comment on our articles

Conv 30 Year Fixed

Rate Disc. Points APR Payment Closing Cost
4.250% 1.125% 4.387% $1,230 $4,578 Details
4.375% 0.375% 4.451% $1,248 $2,703 Details
4.500% 0.000% 4.544% $1,267 $1,765 Details

FHA 30 Year Fixed

Rate Disc. Points APR Payment Closing Cost
4.250% 1.058% 4.625% $984 $3,796 Details
4.375% 0.510% 4.710% $999 $2,700 Details
4.500% 0.000% 4.800% $1,013 $1,680 Details
Las Vegas Mortgage Rates Remain Low

With minimal economic news during our holiday week, mortgage rates have continued at the lowest they have been for decades. Last week ended with mortgage rates slightly lower while the volatility in mortgage markets and other financial markets stayed pretty high. Without major changes in the financial markets, sudden movements in rates were known to stir during the holiday week.

House Extends Closing Date for Homebuyer Tax Credit!

The National Association of Realtors said that over 180,000 people would lose their tax credit if the extension didn't come through, now we have confirmation that the house of representatives has extended this closing date to the September 30th date.

Alan Greenspan, Former Federal Reserve Chairman on Rates...

Last week, Greenspan wrote an Op-Ed for the Wall Street Journal in which he warns of an inevitable rise in interest rates... The second paragraph should be more than enough to tell you that rates will rise and not only...

Las Vegas Mortgage Rates

I have prepared a brief summary of mortgage rates for the most common loan programs. As you know, rates can vary greatly based on credit scores and loan to value but, for this weekend, the rates below are realistic.

Conv 30 Year Fixed

Rate Disc. Points APR Payment Closing Cost
4.250% 1.500% 4.418% $1,230 $5,515 Details
4.375% 0.625% 4.471% $1,248 $3,328 Details
4.500% 0.000% 4.542% $1,267 $1,765 Details

FHA 30 Year Fixed

Rate Disc. Points APR Payment Closing Cost
4.375% 0.968% 4.743% $999 $3,616 Details
4.500% 0.224% 4.813% $1,013 $2,128 Details
4.625% 0.133% 4.933% $1,028 $1,946 Details
Should you Refinance your FHA Mortgage now?

The first question to ask yourself is, "How much money can I save each month?" If your current Interest Rate on your FHA Mortgage is 5.50% or more, you should be calling us right now, before Interest Rates start to rise again. This is especially true if you currently have an Adjustable Rate Mortgage. 1-(888) 931-0007

Possible Extension to Homebuyer Tax Credit... Or Not?

If you haven't been informed yet, the Homebuyer Tax Credit has almost ended with less than a month left for First Time Home Buyers and Current Homeowners to close their deals and qualify for the Tax Credit.

Short Sales on the Rise

A Short Sale allows the homeowner to sell the home and accept an offer for less than the total amount owed to pay off the Mortgage. Are you having problems which prevent you from paying your mortgage? Give us a call today (702) 696 -9900

Las Vegas Real Estate This Week

While we have said before, that Mortgage Interest Rates are expected to rise in the not to distant future, Rates actually dropped slightly....