Melinda Movick

Aug. 10, 2017

Fannie Mae Makes Loan Qualification Easier

Fannie Mae recently announced new underwriting guidelines for debt-to-income ratios (DTI) that will help make it easier for some borrowers to qualify for home loans.

What is DTI?

DTI is an important risk measurement of a borrower's ability to manage monthly payments and repay debts. DTI is calculated by ...

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July 10, 2017

Fed Hikes Rates Again

For the second time in 2017, and the third time within seven months, the Federal Reserve raised its benchmark Federal Funds Rate at its June 13-14 meeting. As expected, the increase was set at 0.25 percent, bringing the new target rate range to between 1 to 1.25 percent ...

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Posted in Melinda Movick
Jan. 13, 2017

Lower Mortgage Insurance Premiums on FHA Loan Announced

The federal government announced on January 9th that the annual monthly mortgage insurance premiums on FHA-backed loans will be lower by 25 basis points starting January 27th. A 30 year fixed rate with 3.5% down payment: new mortgage insurance premium will be .60% , down from .85%.

After four straight ...

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July 7, 2016

Does Anyone Know Where Interest Rates are Headed?

It is beneficial to pay attention to the current market conditions.  You can’t believe everything you hear on the radio, read on the internet or see on television.  For example, some of the most visited internet sites appearing to provide interest rates and market news content are actually ...

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March 8, 2016

5 Things To Do To Ensure Your Loan Closes

Purchasing a home is most likely the largest investment you will make and is the cornerstone of a financial plan. Proper guidance and education throughout this process is critical. Follow these five tips to avoid disappointment!

  1. Your first step is to get a Pre Approval from a trustworthy, reputable lender ...
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