Making Extra Payments on Your Mortgage
Most people do not comment on the reality of a 30 Year Fixed mortgage. But every once in a while, someone will really think about it, or their eyes may widen when they see on their Promissory Note, “Last payment due August 1, 2040.” And think about it: where you will...New “Loan Quality Initiative” Guidelines Are Being Implemented by FannieMae
I just heard about these coming into play on all loans, and have already seen them implemented on some. FannieMae’s ultimate goal is to do whatever it can to reduce or eliminate mortgage fraud. Two things that are now expected on every loan are: 1. Confirm...Happy 4th of July!
Have a happy and safe 4th of July! The markets will be closed on Monday, July 5th, as will Granite Financial. Celebrate well and safely. Share this: Share on Facebook (Opens in new window) Facebook Share on X (Opens in new window) X Share on LinkedIn (Opens in new...Changes to Guidelines on Adjustable Rate Mortgages (ARMs)
Adjustable Rate Mortgages (ARMs) have been extremely competitive in rate; often, a 5/1 ARM is a good 1.0%-1.25% below the 30 Year Fixed Rate mortgage. There are advantages and disadvantages to every loan, and as long as you fully understand the loan program you’re...Loan Calculator
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