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Obama Announces Home Loan Program Enhancements

November 2, 2011 By Leave a Comment

Home Loan Program (HARP) EnhancementsOn Monday, October 24, 2011, Obama, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac announced several enhancements to the Home Affordable Refinance Program (HARP) to attract more eligible borrowers who may benefit from refinancing their mortgage.

We are assessing the announcement and impacts. We will provide more information as it is received from the Agencies.

The industry expects more operational details for HARP Phase II to be published by the FHFA, Fannie Mae and Freddie Mac on November 15, 2011.

As a reminder, we are currently doing HARP Loans under both Fannie Mae’s DU Refi Plus® and Freddie Mac’s Relief Refinance® Programs.

For more information regarding this program or if you have questions regarding the refinancing of your home call Don today at (417) 844-5370.

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Rate Alert on Jumbo Loans

October 6, 2011 By Leave a Comment

RATE ALERT…RATE ALERT…RATE ALERT

Jumbo Portfolio Rates

Up to $1Million > $1 Million
30 Yr Fixed 4.45% 4.65%
10/1 Yr ARM 3.90% 4.10%
7/1 Yr ARM 3.50% 3.70%
5/1 Yr ARM 3.15% 3.35%
3/1 Yr ARM 2.45% 2.65%
1/1 Yr ARM 2.20% 2.40%

 

 

 

 

 

 

*Add 20 bps in TX and NM

• Purchase and Refinance available > $417,000+
• Cash out is available
• 80% loan to value to consolidate 1st and 2nd
mortgages in CA, FL, MI, NV, and AZ
• 90% loan to value to consolidate 1st and 2nd
mortgages in all remaining states

For complete product guidelines / restrictions / current rates please contact Don at (417) 844-5370 or fill out our contact form.

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Does Your Insurance Policy Cover Your Vacant Home?

November 2, 2010 By Leave a Comment

Guest post by Josh Holcomb with Farmers Insurance in Springfield, MO.

Is Your Vacant Home Covered By Your Homeowners' Insurance Policy?

Are You Covered?

As the current real estate market keeps getting harder for people to sell their houses, it is not uncommon for a home to sit unsold for months. As the house sits on the market for a long period of time many sellers often move out of their current home into a new home, which leaves their old one vacant.

With the challenge of taking care of two mortgages many people don’t stop to think about their homeowners’ insurance policy. I can understand, with that type of stress, all that is on one’s mind is making sure both loan payments get paid. Thinking they have a current homeowners’ policy and that nothing needs to change the owner moves on. But is that truly the case? What happens if disaster strikes and you need to file a claim?

[Read more...]

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