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Powerful Home Buyers Booklet leads you the
way from Credit Scoring to Closing on your new home!
Fill out the form below to receive your Free copy of our powerful Home
Buyers Handbook!?
As you are shopping for a loan, make sure you are
working with an experienced, professional
loan officer. ?The large financial investment you are making is
far too important to place in the hands of someone who is not capable of
advising you properly and troubleshooting the issues that may arise
along the way. ?But how can you tell?
First, make sure the loan officer will guarantee IN WRITING
their closing costs, interest rate and
points charged. ?Unfortunately, there are too many
unscrupulous people in the mortgage business. ?If they wont put it in
writing, they dont know what they are doing or they are trying to bait
and switch.
In addition here are FOUR SIMPLE QUESTIONS THE LOAN OFFICER
ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY? IF THEY DO NOT KNOW THE
ANSWERS... RUN? DON'T WALK.... RUN TO SOMEONE WHO DOES!
1) What are mortgage interest rates based on? (The
only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT
the 10-year Treasury Note. While the 10-year Treasury Note sometimes
trends in the same direction as Mortgage Bonds, it is not unusual to see
them move in completely opposite directions. ?DO NOT work with someone
who has their eyes on the wrong indicators.)
2) What is the next Economic Report or event that could cause
interest rate movement? ?(A professional lender will have this
at their fingertips. ?For an up-to-date calendar of weekly economic
reports and events that may cause rates to fluctuate, see my newsletter
by Clicking Here! )
3) When Greenspan and the Fed change rates, what does this mean
and what impact does this have on mortgage interest rates?
?(The answer may surprise you. ?When the Fed makes a move, they are
changing a rate called the Fed Funds Rate. ?This is a very short-term
rate that impacts credit cards, credit lines, auto loans and the like.
?Mortgage rates most often will actually move in the opposite direction
as the Fed change, due to the dynamics within the financial markets.
?For more information and explanation, just give us a call)
4) What is happening in the market today and what do you see in
the near future? ?(If a loan officer cannot explain how
Mortgage Bonds and interest rates are moving at the present time, as
well as what is coming up in the near future, you are talking with
someone who is still reading last weeks newspaper, and probably not a
professional with whom to entrust your home mortgage financing.)
Be smart...? Ask questions? Get answers!
When you download the
book you are also eligible to receive one? FREE Audio CD of your choice:
Gary
Eldred: Real Estate Investment Strategies
Linda
Ferrari: How the Credit Scoring Model Works
Douglas Andrew: Dispelling Home Equity Myths |
