Official Mortgage Lender of FAU AthleticsOfficial Mortgage Lender of FAU AthleticsCurrent turn around times to process a refinance or purchase loan is approximately 3 weeks. Retail banks can often take 60-90 days which creates a tremendous advantage for small direct lenders like Choice Mortgage Group. Another reason for the fast turn around time is the file is always overseen by the broker and not passed […]
Read MoreOne way to reduce closing costs is to structure the loan with a marginally higher than best available rate which creates revenue for the bank to help pay your closing costs. For instance, if the best available rate for a 30yr fix is 3.75% with standard closing costs, we can raise the rate by a […]
Read MoreHere in Florida we have three components of fees which include the bank, the title company, and the state. My bank does not charge any points and therefore our fees only change depending if the loan is a government loan or conventional loan. Most of the title fees and state fees are promulgated by the […]
Read MoreIn order to analyze how much the interest rate must drop before I refinance, one would have to calculate the closing costs and the monthly savings. Once we know how much money you are saving every month, we divide that monthly savings by the total closing costs to find your breakeven point as to when […]
Read MoreApplying for a mortgage can be a stressful process. It’s stressful enough to have to really sit down and look at your financial profile, but when you add on concerns over whether or not you’ll be able to get the home you have always wanted you’ve created a recipe for giving yourself more than a […]
Read MoreThe Home Valuation Code of Conduct (the HVCC) offers a set of rules for the most ethical manner in which mortgage lenders (such as banks) are able to act when they commission the appraisal of a property. The actual HVCC is an industry agreement which was negotiated and accepted between the Fannie Mae , Freddie […]
Read MoreApplying for a mortgage is a huge event in your financial life, and making sure you receive approval for the mortgage you need and want requires a little advanced planning. One area of your financial picture you need to optimize to increase your chances of receiving the best mortgage is your Bank statement . Most […]
Read MoreMany people are considering refinancing because the current market interest rates are so low. If you have been looking into how refinancing benefits you and you want clarity as to how it works, you need to have a conversation with a qualified mortgage loan expert. Because mortgages make up one of the largest debts you […]
Read MoreIf you are looking for a home loan you might become confused with all of the options and the various abbreviations. And I’m sure you’re hoping to find a great rate this will mean finding a loan originator who can help. Most loan originators are quite knowledgeable and will be able to explain how VA […]
Read MoreAs a potential homeowner in South Florida, there are several factors that affect current mortgage rates. For one, the amount of the down payment will certainly affect the mortgage rate. According to industry experts, the more you contribute, the better the rate of the loan. This, however, does have certain restrictions and guidelines. This includes […]
Read MoreLooking at the current mortgage rates while searching for the best one can be a daunting task. Using the internet has certainly made it easier, but it is still quite scary to jump in and finalize a rate. If you are like me you always think that you could have gotten it lower. As we […]
Read MoreThe sell off in stocks over the last few days has created a surprising silver lining for consumers: very low interest rates as the bond and stock markets work in inverse relationships. AS stock prices fall, the demand for bonds increase which yields a lowering of the 10yr Treasury Yield which mortgage interest rates are […]
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