Posts tagged as:

Adjustable-rate mortgage

Will your ARM adjust this year? Don’t Worry…Be Happy

If your mortgage is set to adjust this year, the smart move may be to let it. Today’s conforming mortgages are adjusting lower than ever before — as low as 3 percent. It may not be what you expected when you signed for your ARM several years ago.

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What is going on with Jumbo Mortgages in Charlotte?

A frequent question I get – what is the Jumbo Mortgage market like? Over the past year, those who qualified for loans that conformed to Fannie Mae guidelines (Conforming loans), saw very low interest rates and pretty streamlined approvals – you just needed to have documented income, a down payment of 3.5% to 20%, and [...]

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What are your Rates?

For many people the first question they ask a mortgage loan officer is, “What are your Mortgage Rates?” When I get this question, I could flippantly choose between any of these answers: A. That Depends A. Anywhere from 1% to 10%, what would you like them to be? A. 5% plus or minus A. Rates [...]

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APR or Total Cost?

APR is an acronym for Annual Percentage Rate.  It’s a government-mandated calculation meant to simplify the comparison of mortgage options.  It is probably the most misunderstood number at any closing or with any application. A loan’s APR can always be found in the top-left corner of the Federal Truth-In-Lending Disclosure. Because APR is expressed as a percentage, [...]

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