Predicting Mortgage Rates

October 24, 2013 by · Leave a Comment 

 What are Mortgage Rates based on? Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The candlestick chart above shows a pattern of Mortgage Backed Securities (MBS), which are the type of Bond that […]

Calculating Buyer Closing Costs

May 20, 2010 by · Leave a Comment 

Laura Duggan talks with lender, Ben Morton about the typical closing costs that a buyer pays when making a home purchase. Ben outlines these expenses that fall into four main categories—the lender costs, the title costs, insurance costs and escrows of taxes and insurance. The lender is required within three days after a property is […]

Credit Scores and the Loan Process

May 19, 2010 by · Leave a Comment 

Laura Duggan talks with lender, Ben Morton about the importance that credit scores play in the loan process. Ben describes how credit scores are calculated and reported by the three credit bureaus, Equifax, Transunion and Experian and how your credit rating will affect your interest rate. Credit scores play an important role in the loan […]

Preparing for Your Loan Application

May 19, 2010 by · Leave a Comment 

Loan Officer, Ben Morton, discusses the loan application process with Patrick Birdsong who stresses the importance of getting a “pre-approval” letter before shopping for a home. Ben describes the items that a buyer will need for the loan application whether it is done in person or online. Typically, a buyer will need a W-2 or […]