Mortgage Discussion for the Panhandle area

I hope you enjoyed your July 4th holiday. With all out petty issues America is the best place on earth to live and I am so thankful to enjoy my freedom in such a beautiful country.

On to financing and what is happening lately. More and more banks and lenders are moving to minimum credit scores for FHA financing. We at America's Mortgage Experts have not issued minimum scores. We truly believe the FHA program was set up to help people become homeowners. If you have a deal falling a part because the customer does not meet some minimum credit score set up by a lending institution please give us a call. Our goal is to help you close every deal possible.

FHA will also be changing its requirements for mortgage insurance on July 14th. The new provisions will be on a risk based pricing scale so if you have a customer with a lower score please get them in this week. If you need details on the changes please do not hesitate to call.

Jumbo pricing is relaxing month by month. I can now offer rates below 6 % on a five year interest only loan for 1.5 million or less. The loan is not a 30 year fixed but in this mortgage environment the rate is as strong as a garlic milkshake. Great rates on jumbo loans have seemed impossible for sometime now and I wanted to write in this blog good deals are still out there. Call me if I may explain the programs or give you a quote. There are no surprises just great deals to be closed.

Thats all for today. Have a safe July!!!