Murray Real Estate & West Jordan Real Estate | Buying a Home, Selling a Home, First Time Home Buyers, Real Estate Market, Homes for Sale, Home Listings, Foreclosures » Mortgages

MORTGAGE RATES TIE RECORD LOW

Taylor Nelson — Fri, 16 Jul 2010 19:32:55 +0000

Mortgage rates are currently hovering around a 50 year low. Freddie Mac Vice President said, “With today’s rates, home buyers would save about $1,500 in payments each year on a $200,000 loan compared to rates last June.” Freddie Mac also reported that the average 30 year fixed rate was 4.57. If any of you are on the fence about buying a home keep in mind that home prices are relatively low and rates are also at record lows!

WHAT ARE INTEREST RATES AT???

Taylor Nelson — Wed, 03 Mar 2010 18:12:27 +0000

People always want to know what mortgage rates are at. The Salt Lake Board of Realtors reports that the national average on a 30 year fixed rate is 5.05% These are some of the lowest rates we have seen in a long time.

Remember that mortgage rates can go up or daily on a daily basis. If you are interested in buying a home the best thing to do would be to talk to a lender. They can tell you what you are approved for and what rates are at that time. If you don’t have a specific lender I can direct you to a lender that is knowledgeable with lots of experience.

DIFFERENCE BETWEEN A DEED & A NOTE

Taylor Nelson — Wed, 13 Jan 2010 21:49:52 +0000

It is actually very simple. The note is the loan contract and the deed is what helps secure the note to the asset. Things included in the note are: interest rate, terms of the loan, pre-payment penalty. When someone buys a home the deed is recorded with the county giving them title and ownership to the home and creates that security interest, and makes the debt or note secured by a specific asset.

WHAT ARE THE DIFFERENT TYPES OF LOANS??

Taylor Nelson — Wed, 25 Nov 2009 23:15:14 +0000

One of the first steps to buying a home is getting qualified for a loan. This is a very important step because once you are qualified for a loan you will know how much you are approved for, what type of loan you need, and how much you will need to bring in as a down payment.

Here are a few different types of loans:

FHA LOAN

An FHA Loan is a loan insured by a government agency called the Federal Housing Agency. Typically on this type of loan a buyer would need to bring in about 3% of the purchase price for a down payment. There are also still some programs out there today where you can get a loan for virtually nothing down. An FHA loan is very common today and is good to do if you do not have enough for a big down payment that other types of loans may require. One important thing to remember on an FHA loan is that there are limits on the amount of the loan.

VA LOANS

VA Loans are for those that are qualified by military service or other entitlements. This type of loan is not extremely common, but may be a good option for you if you have served in the military.

CONVENTIONAL LOANS

Conventional Loans are also another popular type of loan. Typically you need a 5% down payment so many people opt to go with an FHA loan. This type of loan in not guaranteed or insured by the Federal Housing Agency, but typically these types of loans offer good interest rates.

This is just a brief overview of loans. There are so many types of loans such as an ARM, 15 year, or 30 year loan. If you have questions feel free to ask or I can direct you to a loan officer who would be well qualified to answer your questions.

Murray, Utah Real Estate: $4,000 GOVERNMENT GRANT

Taylor Nelson — Fri, 18 Sep 2009 20:39:50 +0000

It is true folks the government grant is back. It was $6,000 before, but who doesn’t want a free $4,000? It doesn’t matter whether you buy a home in Murray, buy a home in Sandy, buy a home West Jordan, or buy a home anywhere in Salt Lake you can possibly qualify for this grant.

So what is this $4,000 Home Run 2 grant exactly???? This is a program that gives $4,000 to buyers who wish to have a new home built, buy a newly constructed home, or have a partially constructed home completed.

Hurry now if you are interested because there are certain income restrictions and guidelines. You must also have this home as your primary residence and yes this program will run out. If you have any questions please contact me. Thanks