| Mortgage Type | Today | Last Week | Change | Graph |
|---|---|---|---|---|
| 15 Year Fixed | 4.570% | 4.560% | 0.010% | graph |
| 30 Year Fixed | 5.118% | 5.112% | 0.006% | graph |
| 1 Year ARM | 3.245% | 3.227% | 0.018% | graph |
| 3/1 Year ARM | 3.373% | 3.361% | 0.012% | graph |
| 5/1 Year ARM | 3.531% | 3.529% | 0.002% | graph |
NEW CREDIT GUIDELINES FOR
BUYERS
As credit underwriting guidelines tighten and down payment requirements increase, some home buyers – especially first-time home buyers – are finding it more difficult to qualify for a mortgage loan offered by a traditional financial institution. One viable option for some first-time home buyers, or those with challenged credit is to apply for a home loan with the Federal Housing Administration (FHA). These loans are mortgages issued by a private lender but insured by the FHA. They often require smaller down payments 3.5 % Down and offer fixed-rate or adjustable-rate loans. However, not all home buyers will qualify. The FHA requires verification of income and assets along with a full home appraisal. While consumers with credit scores a low as 580 may qualify, home buyers should contact an FHA lender for an accurate assessment of their situation and ability to qualify.
PRE QUALIFY FOR A LOAN TO PURCHASE A HOME !
The following links are designed to help you with your upcoming home financing. Take a moment to figure your own payment with the mortgage calculators below.
Pre Qualifying for a loan is the first step to buying a home and the most important. After you are Pre Qualified for a loan I will arrange property showings for you.
CLICK THE LINK BELOW TO PRE QUALIFY FOR A LOAN
CLICK HERE to Pre Qualify for a loan !
Please call or email me with any questions or concerns.
David LE Montree / Mattucci Real Estate ph 310-920-3182
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Home Financing
- Should I refinance?
- How much will my fixed rate mortgage payment be?
- How much will my adjustable rate mortgage payments be?
- How much will my payments be for a balloon mortgage?
- Should I rent or buy?
- Which mortgage is better for me?
- How much will I save by increasing my mortgage payment?
- How much mortgage might I qualify for?
- Should I consolidate my loans?
- How much home can I afford?
