Comments on: Attention Home Shoppers! A Few Mortgage/Financing Updates http://eastsiderealestatebuzz.com/financing/attention-home-shoppers-a-few-mortgagefinancing-updates/ Just another Virtual Results Sites site Wed, 08 Feb 2012 04:07:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Debra Sinick http://eastsiderealestatebuzz.com/financing/attention-home-shoppers-a-few-mortgagefinancing-updates/#comment-108 Debra Sinick Wed, 21 May 2008 20:46:36 +0000 http://eastsiderealestatebuzz.wordpress.com/?p=345#comment-108 Thanks, Steve for the information. Thanks, Steve for the information.

]]> By: Steve Tedrow http://eastsiderealestatebuzz.com/financing/attention-home-shoppers-a-few-mortgagefinancing-updates/#comment-107 Steve Tedrow Tue, 20 May 2008 23:55:55 +0000 http://eastsiderealestatebuzz.wordpress.com/?p=345#comment-107 Debbie asked me to write a little bit on APR. Whenever interest rates are quotes, the APR should accompany the rate quote. The APR (annual percentage rate) is normally found on a Truth-in-Lending disclosure. This disclosure must be given to a loan applicant within 3 days of applying for a mortgage loan. The APR is always higher than the interest rate since it takes into account the interest rate you get plus any points, loan origination fee and certain other fees that you have to pay for in obtaining a mortgage loan. The purpose of the APR is to tell ou the "effective cost" of borrowing money. Debbie asked me to write a little bit on APR. Whenever interest rates are quotes, the APR should accompany the rate quote. The APR (annual percentage rate) is normally found on a Truth-in-Lending disclosure. This disclosure must be given to a loan applicant within 3 days of applying for a mortgage loan. The APR is always higher than the interest rate since it takes into account the interest rate you get plus any points, loan origination fee and certain other fees that you have to pay for in obtaining a mortgage loan. The purpose of the APR is to tell ou the “effective cost” of borrowing money.

]]> By: Debra Sinick http://eastsiderealestatebuzz.com/financing/attention-home-shoppers-a-few-mortgagefinancing-updates/#comment-106 Debra Sinick Thu, 15 May 2008 05:03:00 +0000 http://eastsiderealestatebuzz.wordpress.com/?p=345#comment-106 Hi Rhonda, I'm not surprised your lender issued so many rate sheets. Things are changing from moment to moment! Hi Rhonda,

I’m not surprised your lender issued so many rate sheets. Things are changing from moment to moment!

]]> By: Rhonda Porter http://eastsiderealestatebuzz.com/financing/attention-home-shoppers-a-few-mortgagefinancing-updates/#comment-105 Rhonda Porter Thu, 15 May 2008 04:24:17 +0000 http://eastsiderealestatebuzz.wordpress.com/?p=345#comment-105 I would bet the borrowers need credit scores of 720 or better (719 and below are penalized). Rates change quite a bit too...one lender I work with issued 5 rate sheets today and 5 yesterday. I would bet the borrowers need credit scores of 720 or better (719 and below are penalized). Rates change quite a bit too…one lender I work with issued 5 rate sheets today and 5 yesterday.

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