Mortgages Made Simple with Rick Gundzik

Sunday, February 24, 2008
Refinance Time, How to choose your loan officer - February 24, 2008
Refinance Time? Refinancing your home can be a great experience if you have done a little research. Most importantly, you want a knowledgable mortgage company to work with that has an experienced staff. Mortgages Made Simple logoWhat traits should you look for in your loan officer? Experience, Integrity, should they be a mortgage broker loan officer or a bank loan officer, etc. In this encore episode, We'll give you a brief rundown to help you secure the best loan from your loan officer.

Show Notes: Fannie Mae - Federal National Mortgage Association

Freddie Mac - Federal Home Loan Mortgage Corporation

FHA - Federal Housing Administration

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posted by Pac Res @ 10:43 AM   0 comments
Sunday, February 17, 2008
729,750 and other benefits of an FHA Loan - February 17, 2008
On March 14, 2008 the FHA maximum loan amount will be raised to $729,750 due to the economic stimulus package. This is only temporary and won't apply to all areas. It is county specific. Mortgages Made Simple logoBut it only enhances what is already a great loan program. It offers the consumer a better alternative to a subprime loan. FHA loans have a more flexible down payment policy which allows gift funds and only a 3% down payment. A borrower can have a non-occupant co-signer and FHA loans allow slightly blemished credit. FHA loans also offer the best adjustable rate mortgage available. And if that isn't enough, FHA loans have a streamline refinance program which saves you time and money.

Show notes:
Listen to Show with MMI information (After main topic)
Listen to how to apply for a loan

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posted by Pac Res @ 10:09 AM   0 comments
Sunday, February 10, 2008
Fannie Mae Loan Limits increased to $729,750 - February 10, 2008
The Economic Stimulus bill passsed with one of the benefits being Fannie Mae Loan Limits being increased to $729,750.Mortgages Made Simple logo It also increases Freddie Mac Loan Limits to $729,750 and it certain high cost areas FHA loan limits are being increased to $729,750.

This should create a fresh round of refinancing by homeowners who currently have jumbo loans from $417,000 to $725,000. They will be able to lower their payments significantly. In addition people waiting on the sidelines to buy a home can now confidently move into the market.

Show Notes: Listen to Can Anyone afford a home in California?

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posted by Pac Res @ 11:09 AM   0 comments
Sunday, February 3, 2008
Caps, Indices and Margins, What does it all mean - February 3, 2008
One of the most frequent questions we get is how does an Adjustable Rate Mortgage (ARM) work. What are the key components of an Adjustable Rate Mortgage? We explain what caps are, what the most common indices are, and how to use the margin to calculate your interest rate. Mortgages Made Simple logo This can be a confusing topic, but in this encore episode we do our best to break it down and make it easy for you to understand.

Show Notes: Link to Indices

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posted by Pac Res @ 10:05 AM   0 comments

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Helping you to understand mortgages and get the best home loan possible.

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