Should I Refinance?

Should I refinance?  This is a question I get asked quite often and typically what surprises me most is what sparks the interest.  I get a lot of calls from my past clients when they receive one of those ridiculous mail offers that pretend to be either some top secret government refinance program or someone connected with their current mortgage.  These offers typically boast some unbelievable interest rate.  You can get 2.95% fixed for 30 years, of course it is absolutely absurd but if you don’t know much about mortgages it sounds really good!

So obviously if you are taking your time to read this something has sparked your interest in refinancing!  I want to help you answer all the questions you might have about refinancing.  I can’t do that in one blog post, but I can at least get you started in the right direction.  The best place to start is to get a basic understanding of what is possible with different loan types.  Let’s take a quick look at the 5 primary kinds of mortgages. Read more »

Charlotte Mortgage Refinance

Are you looking to refinance your mortgage loan?  Refinancing can save you thousands of dollars but it is NOT free and might not make sense.  Everyone should not refinance their loan just because interest rates are a little lower.  Let’s take a look at a few examples of what makes sense and what doesn’t! Read more »

The Truth about Mortgage Rates Part 3

The Federal Reserve or “FED” does NOT directly set mortgage rates. I know its a shocker, but the media is usually all wrong when talking about what moves rates. You have probably heard it mentioned on the evening news that rates are higher because of the “FED” but this is actually all wrong and many times when the media says rates are moving up or down they are a week behind!

What do lenders look at every morning when they issue their rates? They look at the Mortgage Backed Security or MBS market. This is the market where pools of mortgages that have been securitized into bonds are traded. So really investors that are buying mortgages in bulk or determining what the rates are on a constant daily basis.

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Charlotte Mortgage Rates are LOW!

Mortgage rates have been remarkably low for some time now, but many “experts” thought they would be higher by now.  I am not going to go too far into the subject of what drives rates because that is a whole different topic, but in general the economy drives rates.  If the economy is really good and the stock market is soaring, mortgage rates typically would go higher.  The current state of the economy is unique and has many experts confused about where rates are headed.

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USDA loans in Charlotte NC

USDA Rural Housing loans are obviously for rural areas, but what the USDA deems rural is not always that obvious! Most people think that you can only use these great loans out in the country, where the deer and the antelope play. That is not exactly true, and while you won’t be buying any plush uptown condos with a USDA loan, you can buy some great homes in and around Mecklenburg county.

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