Fairway #1 FHA Lender-Call me for lending options

Though FHA loans are not a great fit for some borrowers, it is important that when you do choose an FHA loan, you are with the “best”.  Offering a grand array of loan programs for your purchase or refinance, reach out for your confidential loan analysis!  Hope your holidays are filled with joy amongst your family and friends!

fha-loan-sm-image

Jonathan Burdick-Specializes in all loan products and licensed in Arizona and Illinois
Xperity Lending Group/Arizona Lending Resource
Scottsdale Arizona 85260
602-212-1234
NMLS # 1045837
http://www.ArizonaLending.Net
Fairway Independent Mortgage Company
NMLS Entity ID 2289
Equal Housing Lender
Confidentiality Notice: The information contained in and transmitted with this communication is strictly confidential, is intended only for the use of the intended recipient, and is the property of Fairway Independent Mortgage Corporation NMLS #2289 or its affiliates and subsidiaries. If you are not the intended recipient, you are hereby notified that any use of the information contained in or transmitted with the communication or dissemination, distribution, or copying of this communication is strictly prohibited by law. If you have received this communication in error, please immediately return this communication to the sender and delete the original message and any copy of it in your possession.

 

Advertisements

Fannie Mae Conventional 2017 Loan Limits

  • Fannie Mae just came out with the 2017 loan limits that mirror Freddie Mac
  • Give me a call so I can assist you with your refinance and or new home purchase
Units First Mortgage Loan Amounts

General Loan Limits -2017

Contiguous States,

District of Columbia, and

Puerto Rico

Alaska, Guam, Hawaii,

and U.S. Virgin Islands

One $424,100 $636,150
Two $543,000 $814,500
Three $656,350 $984,525
Four $815,650 $1,223,475

 

Jonathan Burdick-Specializes in all loan products and licensed in Arizona and Illinois

Xperity Lending Group/Arizona Lending Resource

Scottsdale Arizona 85260

602-212-1234

NMLS # 1045837

http://www.ArizonaLending.Net

Fairway Independent Mortgage Company

NMLS Entity ID 2289

Equal Housing Lender

Confidentiality Notice: The information contained in and transmitted with this communication is strictly confidential, is intended only for the use of the intended recipient, and is the property of Fairway Independent Mortgage Corporation NMLS #2289 or its affiliates and subsidiaries. If you are not the intended recipient, you are hereby notified that any use of the information contained in or transmitted with the communication or dissemination, distribution, or copying of this communication is strictly prohibited by law. If you have received this communication in error, please immediately return this communication to the sender and delete the original message and any copy of it in your possession.

 

Conventional Loan Limit increase- 2017

Freddie Mac’s Announcement today, Fannie limits to follow…

Number of Units CONFORMING LOAN LIMITS   SUPER CONFORMING LOAN LIMITS
Conforming mortgages secured by properties not located in designated high-cost areas will be permitted with original loan amounts up to the following limits:   Super conforming mortgages secured by properties located in designated high-cost areas, mortgages will be permitted with original loan amounts up to the following limits:
ALL states EXCEPT  Alaska & Hawaii Alaska & Hawaii ALL states

EXCEPT  Alaska & Hawaii

Alaska & Hawaii
1 2017:  $424,100

2016:  $417,000

2017:  $636,150

2016:  $625,500

2017:  $636,150

2016:  $625,500

2017:  $954,225

2016:  $938,250

 

Jonathan Burdick-Specializes in all loan products and licensed in Arizona and Illinois

Xperity Lending Group/Arizona Lending Resource

Scottsdale Arizona 85260

602-212-1234

NMLS # 1045837

http://www.ArizonaLending.Net

Fairway Independent Mortgage Company

NMLS Entity ID 2289

Equal Housing Lender

Confidentiality Notice: The information contained in and transmitted with this communication is strictly confidential, is intended only for the use of the intended recipient, and is the property of Fairway Independent Mortgage Corporation NMLS #2289 or its affiliates and subsidiaries. If you are not the intended recipient, you are hereby notified that any use of the information contained in or transmitted with the communication or dissemination, distribution, or copying of this communication is strictly prohibited by law. If you have received this communication in error, please immediately return this communication to the sender and delete the original message and any copy of it in your possession.

 

Mortgage Rates Prefer Politics Over Fed Announcement

Mortgage Rates Prefer Politics Over Fed Announcement

 

Mortgage Rates eased just a bit more today, marking the 4th day of relative stability after a sharp rise last Thursday.  Although there was a Fed announcement today, and although Fed announcements are typically capable of causing massive market movement, it was a relative non-event this time around.  Instead, the modestly positive interest rate environment came courtesy of ongoing uncertainty surrounding the presidential election.

Of course the Fed announcement very easily could have caused a big move in rates, had it contained any significant surprises.  For instance, if the Fed opted to raise rates today, or to firmly comment on a potential December rate hike, things could have been different.  Instead, they made only small changes–the kind that could be used by either side to argue the odds of a rate hike next month.

With the possible exception of Friday’s jobs report, bond markets (which dictate rate movement) will continue focusing on the election.

Loan Originator Perspective

As expected, today’s Fed statement contained no “November surprises”, as the Fed Funds Rate held steady.  Bonds posted decent gains in response, and (at least for a day or so) our rising rate trend is on pause.  My pricing improved about 40 bps the past two days, which is certainly a step in the right direction.  If you’re floating, I’d probably look at tomorrow’s pricing, then make the call on locking before NFP report Friday AM. –Ted Rood, Senior Originator

I am not convinced that the trend has broken, but we might have some cracks.  Seems the market is much more worried about a Trump victory over data or the Fed.  With the plethora of stories of a tightening Presidential race, I think floating overnight is worth the risk. –Victor Burek, Churchill Mortgage
Today’s Best-Execution Rates

  • 30YR FIXED – 3.625%
  • FHA/VA – 3.25-3.5%
  • 15 YEAR FIXED – 2.875%
  • 5 YEAR ARMS –  2.75 – 3.25% depending on the lender


Ongoing Lock/Float Considerations

  • Rates have generally been trending higher since hitting all-time lows in early July
  • Clearly-defined uptrends provide higher-than-average motivation to lock
  • Risk-takers can try to time the dips in rates that may occur during that broader uptrend, but the reward for good timing generally isn’t worth the risk in these situations.
  • We’d need to see a sustained push back toward lower rates (something that lasts more than 1-3 days) before anything less than a cautious, lock-biased approach makes sense for all but the most risk-tolerant borrowers.

Reference Mortgage News Daily
Jonathan Burdick-Specializes in all loan products and licensed in Arizona
Xperity Lending Group/Arizona Lending Resource
Scottsdale Arizona 85260
602-212-1234
NMLS # 1045837
http://www.ArizonaLending.Net
Fairway Independent Mortgage Company
NMLS Entity ID 2289
Equal Housing Lender
Confidentiality Notice: The information contained in and transmitted with this communication is strictly confidential, is intended only for the use of the intended recipient, and is the property of Fairway Independent Mortgage Corporation NMLS #2289 or its affiliates and subsidiaries. If you are not the intended recipient, you are hereby notified that any use of the information contained in or transmitted with the communication or dissemination, distribution, or copying of this communication is strictly prohibited by law. If you have received this communication in error, please immediately return this communication to the sender and delete the original message and any copy of it in your possession.