Now is the Time to Refinance your Mortgage!
Call ZFG Mortgage and take advantage of our skip 2 months mortgage payment refinances. Apply online today!! http://www.zfgmortgage.com
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Now is the Time to Refinance your Mortgage!
Mortgage rates are incredible low right now, and for a limited time if you refinance with ZFG Mortgage you will also be able to skip your Next Two Months mortgage payments!! Call or Apply online for a “FREE” mortgage check-up today
918-459-6530 or http://www.zfgmortgage.com
There are a multitude of reasons why you might want to take advantage of mortgage refinance. Here are a few of the main reasons:
To secure a low, fixed rate.Â Since Interest rates have probably dropped since you took out your current mortgage, you can refinance to take advantage of current historic low rates in mid 4%’s range. A percent decrease in your rate can equal thousand if not hunderds of thousands of dollars in saved intrest expense.
To switch to another type of mortgage.Â Mortgage refinance enables you to switch from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage or vice versa. Some homeowners take out an ARM only to discover that payment fluctuations are too stressful. You can refinance to switch to a fixed-rate mortgage easily.
To improve the terms of an ARM.Â Adjustable-rate mortgages come with features that you might improve upon with mortgage refinance. For example, ARMs have caps on how much payments can increase per year and over the life of the loan. If you are dissatisfied with your current caps, you can refinance for better features.
To lower monthly payments.Â You can use mortgage refinance to extend the repayment term of your mortgage or to lower your interest rates, and both options will substantially reduce your monthly payments.
To build equity in your home faster.Â Some homeowners use a mortgage refinance to take out a shorter-term mortgage to pay off the loan faster with less interest expense. If you choose this option, you will build equity in your home more quickly.
To convert home equity into cash.Â If your home has appreciated in value or if you are willing to take out a mortgage with a larger principal, you can take the difference in cash to cover your expenses.
Apply for a Free Mortgage Check Up Today at
The secret is out. Relocate America has declared Tulsa the No. 1 place to live in America.
Relocate America’s TOP 100 Places To Live! list is compiled using data regarding local economy, housing, education, employment, crime, parks and recreation, and other statistics used to make home-buying decisions.
Communities around the country are nominated by residents, and information is submitted about neighborhoods, the city’s beauty, the quality of schools, recreational activities and economic growth. The TOP 100 Places to Live! list is published annually.
â€œThis ranking corroborates exactly what the Chamber uses to sell the Tulsa region 365 days of the year,â€ said Mike Neal, president and CEO. â€œWe are faring much better during the national recession than many of our peer cities because of our diversified industries, quality of life and cost of living.â€
Tulsa has also been identified as the fifth best city in the nation to ride out the recession, according to Forbes.com.
“We have one of the strongest real estate markets in the country, and Tulsa is experiencing job growth other cities are not during this national recession,” said Bob Ball, economist for the Chamber. “Additionally, our cost of living is 11.5 percent below the national average. When you consider all of this quality of life data, Tulsa is an attractive community to both businesses and relocating families.”
To view the Top 100 Places to Live!, visit RelocateAmerica.com.
Top 10 Places to Live
Dallas-Ft. Worth Texas
Little Rock, Ark.
Oklahoma City, Okla.
OKLAHOMA 100% USDA GUARANTEED RURAL HOME LOAN
Designed as a resource for low to moderate income homeowners in rural communities, the USDA Guaranteed Rural Home Loan has helped many Oklahoma families obtain financing for homes not only in rural areas, but also in cities such as Owasso, Bixby, Glenpool, Coweta, Catoosa, Wagoner, Parts of Broken Arrow, Norman, Noble, and Jenks including many other Oklahoma cities.
While the USDA has guaranteed this loan, the money actually comes from traditional lenders like Golf Savings Bank. We underwrite the loan based on USDA guidelines and then sell it on the secondary market, just like a traditional loan.
One of the most attractive characteristics of the USDA Guaranteed Rural Home Loan is that it is one of the last home loans with 100% financing. I have helped many home owners get into a home with no money down. In fact, they usually are able to get their Earnest Money back as well.
The program also allows for 6% Seller Concessions to help cover the cost of the Buyers Closing Costs. Rates are very competitive with conforming and FHA loans, and there is no monthly mortgage insurance payment.
The two main qualifiers of the USDA Guaranteed Rural Home Loan program are:
The Property must be within a qualified area. This is easy to determine based on a USDA online map on our website http://www.zfgmortgage.com.
The Adjusted Household Income must not make exceed the published income levels for the area. This takes a little more work as it is unique to the USDA.
The loan is undergoing some changes right now. Traditionally, the USDA will provide financing up to 102% of the appraised value of the home. This covers the 2% Guarantee Fee that is mandated by Congress to help repay the cost of this program. Historically, this program runs out of money every year and then is funded again by Congress. Over the last 2 years, the program has exhausted its funds in the Spring. Last year it was quickly funded, this year, not so. The program is currently out of funds and is awaiting Congressional funding.
There is a Bill before Congress to make the USDA Guaranteed Rural Home Loan self-funding. This will enable the program to continue to exist without the need for Congress to continually allocate for funds. The Rural Housing Preservation and Stabilization Act increases the maximum loan guarantee fee that USDA’s Rural Housing Service has authority to charge for new housing purchases from 2.0 to 3.5 percent and allows an annual fee of not more than 0.5 percent per year on the balance of the loan. This will result in a nominal increased monthly payment of around $8 per $100,000 at 5% Interest Rate.
A modified version of the Rural Housing Preservation and Stabilization Act has been added to H.R. 4899, the Disaster Relief and Summer Jobs Act of 2010 and will hopefully be voted on soon.
We are still accepting applications based on the 3.5% Guarantee Fee, underwriting them and then putting them in suspense until the USDA gives us further direction.
If you need to close soon, I suggest using an FHA or conforming loan. If you have the luxury of waiting a few more weeks or months, than this is still the best loan on the market if you don’t have 20% down payment and you and your property qualify.
Apply online Today http://www.zfgmortgage.com
Rates start at 4.5% 30 Year Fixed and 3.375% 5 Year Fixed Mortgage. Apply online for a “FREE” Mortgage Check-Up & Pre-Approval!! http://www.zfgmortgage.com
Log on to our website for Free Pre-Approval for a Refinance or Home Purchase.
Tax credit extended for active duty military U.S. servicemen out of the country for 90 days (since 2008) may have an extra year to get the tax credit, up to $8,000, for buying a home.
The active-duty rule is not new. It’s part of the current tax credit law, though its use is limited. The qualification must be for “official extended duty outside the United States for at least 90 days after 2008 and before May 1, 2010.”
Should that be the case, however, the homebuyer has an extra year to buy a home. He or she has until April 30, 2011, to secure a binding contract, and until June 30, 2011 to close on the home. Other conditions such as a maximum $8,000 for first-time buyers and $6,500 for move-up buyers still apply.
The seller of the property is the person who sets the price of the property (specially residential property), and not an appraiser. This is because sellers normally do not order an appraisal when selling their homes. Sellers wish to obtain the highest selling price possible for their homes and hence do not want to be bound by the appraiser’s assessment of their home. The real estate agent, who receives a percentage of the price as compensation and often represents the seller in the transaction, normally assists the seller in setting the sale price.
The real estate agent performs a comparative market analysis (CMA). The appraisal laws in most states allow real estate agents to perform CMAs without an appraiser’s license or certification. A CMA is a necessary part of the agent’s preparation for a listing and consists of examining sales of properties in the area to arrive at a listing price. The reliability of the CMA depends upon the agent’s experience and the characteristics of the property and the surrounding area. Typically, the agent will suggest a selling price to the seller based upon the analysis. However, the seller may not accept that price and choose to list the property for a higher price.
For more info log on to http://www.zfgmortgage.com