HARP Refinance Progam

Inlanta Mortgage | May 9, 2012 | No comments

HARP for Underwater Mortgages

HARP 2.0 was formally released by Fannie Mae and Feddie Mac on March 17, 2012. HARP stands for Home Affordable Finance Program. This program is designed to assist eligible homeowners who have underwater mortgages – meaning they owe more on their homes then what their homes are worth.

In order to be eligible for the HARP refinance programs, your loan must be backed by Fannie Mae or Freddie Mac. Click here to check and see if you have a Freddie Mac backed loan. Click here to see if you have a Fannie Mae backed loan. Other eligibility criteria include:

  • your mortgage must have a securitization date prior to May 31, 2009
  • you must be current on your loan with no 30-day late payments during the six months precending application and no more than one late payment during the last twelve months.

If you are interested in finding out if the HARP 2.0 program is right for you, please contact a licensed mortgage loan officer near you for more information.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

Required Disclosures: Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligible to take advantage of these changes. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:

http://www.freddiemac.com/mymortgage/
http://www.fanniemae.com/loanlookup/

Category: HARP 2.0 Refinancing, Mortgage Articles, News & Events | Tags: , , , ,

Rents Rise as Rental Vacancies Decline

Inlanta Mortgage | May 8, 2012 | One comment

As rental vacancies decline, rents rise. It’s a simple matter of supply and demand. Rising rent prices make rental properties more lucrative to investors who then flock to purchase homes and get in on the action. As a result, first time homebuyers looking to take advantage of low rates and low home prices will face stiff competition from investors.

Rents Rise as Rental Vacancies Decline

 

All that being said – don’t let yourself become discouraged! Now is still the best time to purchase your first home. 15-year and 30-year mortgage rates are at all time record lows. Consult a licensed mortgage loan professional to get
pre-approved for a mortgage loan today. Armed with a pre-approval letter, a Realtor can help you find the home of your dreams. Read more about why you need a pre-approval here.

Are you ready to take advantage of the lowest mortgage rates in history and low home prices? Contact and Inlanta Mortgage loan professional to discuss your specific financing needs and get your pre-approval letter today. Click here to find an Inlanta Mortgage loan officer near you.

Still on the fence? Read more about rising rent prices here or discover why home ownership matters here.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

Graphic Source: ClearCapital.com

Category: Home Buying Process, Mortgage Articles, News & Events | Tags: , , , , ,

Inlanta Mortgage Adds 3 New Branches

Inlanta Mortgage | May 7, 2012 | No comments

Three New Branches Join Inlanta Mortgage

As the mortgage industry continues to consolidate, veteran mortgage professionals seek to align themselves with mortgage banking companies that will provide them with comprehensive support services that enable them to best serve their customers and their communities. Inlanta Mortgage is pleased to announce that three groups of seasoned mortgage veterans have recently joined the Inlanta team looking to take advantage of Inlanta’s support services.

Recent additions to the Inlanta Mortgage family include fourteen year mortgage veteran Yvette Clermont and her De Pere, Wisconsin mortgage company; fifteen year veteran Dan Palmer of Schaumburg, Illinois; Laura Leonhard and her team of experienced mortgage professionals in Marshfield, Wisconsin.

Branch partners and their teams receive the full support of an experienced administrative team headquartered in Brookfield, Wisconsin. Support services included information technology (IT), marketing, compliance support, in-house underwriting, as well as experienced funding and processing departments.

In a recent study by Hammersmith, mortgage professionals are changing their preferred employers from large national players to regional, more local, mortgage bankers in seeking comprehensive support services for their branch operations. These mortgage professionals also place a high value on ethical business practices. In fact, integrity was listed as the most valuable characteristic sought from company leadership. Inlanta Mortgage has maintained a commitment to the highest ethical standards since it was founded in 1993.

The Hammersmith survey also asked mortgage loan originators what one tool or resource they would change about their current company. 30% of respondents reported they wanted better marketing platform/continuity support while nearly 20% reported better technology (including integrated systems, easy to use and accessible over the web). Inlanta Mortgage’s marketing support team can assist loan officers with every aspect of their marketing plan including web site development, advertising copy and layout, and advanced customer relationship management. Inlanta Mortgage’s technology platform was recognized by Mortgage Technology Magazine and awarded with their prestigious Top 25 Tech Savvy Lenders recognition.

Inlanta Mortgage continues to seek qualified mortgage professionals for branch partnerships and individual loan originators to join successful and established branches in Kansas, Illinois, Indiana, and Wisconsin. Visit InlantaPartners.com for branch partnership information or click here to learn about more about joining as a loan originator.

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

Category: Inlanta Mortgage Partnerships, Join Inlanta Mortgage, Mortgage Articles, News & Events | Tags: , , , , , , ,

Mortgage Rates Hit New Record Lows!

Inlanta Mortgage | May 3, 2012 | 3 comments

30 and 15-Year Mortgage Rates Hit New All-Time Record Lows

30-Year Fixed Rate Mortgages

30-year fixed rate mortgages hit a new all-time record low. According to Freddie Mac’s Primary Mortgage Market Survey (PMMS) the 30-year fixed-rate mortgage (FRM) averaged 3.84 percent for the week ending May 3, 2012 - down from last week when it averaged 3.88 percent. The previous all-time record low of 3.87 percent was registered on February 9,  2012. Last year at this time, the 30-year fixed rate mortgage averaged 4.71 percent.

15-Year Fixed Rate Mortgages

The 15-year FRM also reached a new all-time record low. The 15-year fixed rate mortgage averaged 3.07 percent for the week – down from last week when it averaged 3.12 percent.  The previous all-time record low of 3.11 percent was set April 12, 2012. A year ago at this time, the 15-year FRM averaged 3.89 percent.

5-Year Adjustable Rate Mortgages

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) remained unchanged at 2.85 percent. Last year at this time, the five-year ARM averaged 3.47 percent.

1-Year Adjustable Rate Mortgages

Also this week, the one-year Treasury-indexed ARM is down to 2.70 percent from 2.74 percent last week.  At this time last year, the one-year ARM averaged 3.14 percent.

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week. Real Gross Domestic Product rose at an annualized rate of 2.2 percent in the first quarter of this year, down from the previous quarter of 3.0 percent and below the market consensus forecast of 2.5 percent. In addition, the 12-month growth in the core price index of personal consumption expenditures was 2.0 percent in March which matches the Federal Reserve’s implied inflation target.”

Contact a licensed mortgage loan professional to take advantage of these historically low mortgage rates. Find an Inlanta Mortgage professional near you.

Original Source: Freddie Mac

Inlanta Mortgage offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

Category: Mortgage Rates | Tags: , , , , ,

Housing Outlook Brightens

Inlanta Mortgage | May 2, 2012 | No comments

Market Turnaround Expected

Home starts and sales are on an upword path according to Chief Economist David Crowe of the National Association of Builders (NAHB).

“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and we can expect some corresponding ups-and-downs in the housing market in the months ahead. However, NAHB believes that on the whole, we can expect a slow and gradual recovery in housing starts, home sales and the overall housing market in 2012.”

According to the NAHB, new-home sales are expected to climb from a record-low of 305,000 units in 2011 to 357,000 this year and 505,000 in 2013. Existing single-family sales are expected to follow suit and rise from 3.8 million last year to 4.4 million in 2012 and 5.4 million next year.

Housing starts are also anticipated to move in the same upward trajectory, Crowe said, with single-family housing production increasing from 434,000 units last year to 503,000 this year and a more solid 660,000 in 2013.

On the multifamily side, starts posted a healthy 55 percent increase in 2011 over 2010.

“A lot of newly formed households have become renters, so we need more rental units,” Crowe said. “We don’t expect to see the same rate of increase moving forward, but we should continue to see a healthy recovery.”

NAHB is anticipating that multifamily starts will rise from 177,000 units last year to 216,000 in 2012 and 235,000 in 2013. With many households choosing to stay in place and remodel their homes rather than move, residential remodeling is expected to rise 12 percent this year and another 7.9 percent in 2013.

Are you a renter considering a new home purchase to avoid rising rent? Contact an Inlanta Mortgage  loan professional to get pre-approved today! Or maybe you are interested in taking advantage of low mortgage interest rates to purchase a different home? Whatever you financing needs, Inlanta Mortgage professionals are here for you. Click here to located a licensed mortgage loan progessional near you.

Inlanta Mortgage operates more than 30 branches in 14 states and offers Fannie Mae/Freddie Mac agency products, as well as a full suite of jumbo and portfolio programs. The company is fully delegated HUD-FHA including FHA 203K, VA, and USDA approved. Inlanta Mortgage also offers numerous state bond agency programs. Review Inlanta’s mortgage loan programs here.

Inlanta Mortgage is a multi-state mortgage banker based out of Brookfield, Wisconsin. NMLS# 1016.

 

 

 

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