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Archive for the ‘Mortgage’ Category

How Difficult Is the Mortgage Process for Buyers?

Wednesday, May 8th, 2013

Good news 225x300 How Difficult Is the Mortgage Process for Buyers?

We just read the results of a survey (see below) that TD Price conducted and we were reminded that our goal at The Mettle Group is to deliver excellent experiences for each of our clients and to surpass expectations.

Mission: To enjoy every day playing the game of life, with dogged determination to constantly do better, serve more and improve the lives of all that we touch.

Vision: Through constant attention to clients’ unmet needs and anticipation of their desires we create the ultimate mortgage experience. We grow our business through exceeding expectations, building relationships beyond business and constantly striving to improve and add value to the lives of our clients and partners.

Values:

  • Treat others as we would want to be treated.
  • Ravenous hunger for improvement.
  • Humility when we succeed and honesty when we fail.
  • Do more to add value than anyone else is willing or able to do.
  • “Say what you do. Do what you say. No surprises!”

TD Bank recently announced the results of their inaugural Mortgage Service Index. The index was designed to identify best practices and trouble areas in home financing and act as a service indicator for lending institutions. Below are some of the key findings of the survey.

Positive Experiences

The index identified the percentage of respondents who had a positive (“excellent” or “very good”) experience in certain parts of the home buying experience:

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FHA vs. Conventional… Which is better and what are the differences?

Monday, April 29th, 2013

fha vs conventional FHA vs. Conventional…  Which is better and what are the differences?There has been a lot of attention given and misinformation spread about FHA financing. I’ve found very few people really understand the differences between FHA and Conventional Mortgage Insurance, so I’ll do my best to explain. The first thing to understand is that FHA, in most cases, will be slightly more expensive once you take into consideration the Up-Front Mortgage Insurance Premium (UFMIP) and annual/monthly Mortgage Insurance (MI).

BUT don’t throw the baby out with the bath water! FHA is much more liberal and forgiving in its underwriting guidelines and even loan amounts, which can go as high as $729,750 (check your local county for specific loan limits). Simply stated, FHA can be the best (and only) loan on the planet for someone who:

  • Has less than perfect credit
  • Has gifted down payment of less than 20%
  • Has student loans in deferment
  • Has low credit scores
  • Wants to finance high dollar amounts with as little as 3.5% down

So let’s start with the facts about FHA, shall we:

Keep reading FHA vs. Conventional

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Waiting might cost you…

Wednesday, February 27th, 2013

This great graphic may be useful to help get some of your clients off the fence about buying a home. Feel free to share it with them.

Rising Home Prices Waiting might cost you...

Home prices are rising, up over 25% since the bottom in 2009, and mortgage rates are rising as well, but still within .375% of all-time historical lows. The major stock market indexes are also near 5 year highs and corporate profits continue to grow.

As the real estate and stock markets grow, inflation will follow, making today a great time to buy your new home.

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Why Are Mortgage Rates Going Up?

Thursday, February 14th, 2013

Zander Skiing1 Why Are Mortgage Rates Going Up?Here’s a picture of one of Z-Man’s (my son) first skiing days. It was fun to see the little guy in action; he loves skiing and is doing great. We’ve been taking him to Solitude Ski Resort, which has a really good ski school for kids 3 years and older. I’ve found their bunny hill and activities to be the best, so if you have young children, get them on the mountain early. Solitude makes it easy and enjoyable.Aria Smiling1 Why Are Mortgage Rates Going Up?

My daughter Aria is really coming into her own; now that she’s up and walking she is very happy and has the cutest little smile you’ve ever seen. I’m really looking forward to spring and summer to get outside and play with these two hooligans!

Spring and summer is also buying season for real estate and can bring with it slightly higher mortgage rates. Typically the spring and summer pop is small and has to do with more demand for mortgages, which means banks can get a higher yield and as a result you as the consumer pay a slightly higher rate. We’re definitely seeing rates pop early this year, but I think we’re seeing this trend for a different reason.

Keep reading Why Are Mortgage Rates Going Up?

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