As more military service members and veterans enter the housing market, it’s important for them to have real estate agents who are up to date on VA loans and market trends to guide them through the purchase process.
In fact, VA loans have a higher closing rate percentage than both FHA and conventional loan products.
Data from the most recent Ellie Mae Origination Insight Report provide a detailed look into the housing market and show VA purchases closed at a rate of 73.9%, significantly higher than FHA purchases at 62.1% and conventional purchases at 68%.
What does this mean for agents? It means that VA loans are reliable and VA buyers are more likely to close on their home once under contract.
To Read The Entire Article, Please Click Here!
To find out what you qualify for with a VA or FHA loan give us a call today!
The Easterbrook Team with Sierra Pacific Mortgage
John Easterbrook NMLS# 226555
P: 916.224.7653
Patty Aguon NMLS#994635
P: 916.833.5063
EasterbrookTeam@spmc.com
806 Bidwell Street
Folsom, CA 95630
Showing posts with label FHA Loans. Show all posts
Showing posts with label FHA Loans. Show all posts
Tuesday, September 15, 2015
Wednesday, August 26, 2015
Any Benefit of Weekly Home Mortgage Payments?
A bi-weekly schedule beats a monthly one in terms of shortening the term of a home mortgage. Weekly payments, however, make little difference.
Typical borrowers make their mortgage payments monthly. Some, however, make bi-weekly payments to reduce the term of their loans. Could weekly mortgage payments speed the payoff even further?
The answer in some cases is yes—but usually not much more than with bi-weekly plans.
Converting to any schedule that increases payment frequency reduces the principal loan amount faster, resulting in less interest owed and a shorter mortgage term, says Jack Guttentag, professor emeritus of finance at the Wharton School of the University of Pennsylvania. The biggest benefit of weekly payments, however, is not cost savings, but convenience for people who are paid weekly and like to handle bills accordingly, he adds.
To View This Entire Article Please Click Here
To discuss your monthly payments and how you can reduce your monthly payment through refinancing and be able to afford increased payments call us today.
The Easterbrook Team with Sierra Pacific Mortgage
806 Bidwell Street
Folsom, CA 95630
916-850-6050
EasterbrookTeam@spmc.com
John Easterbrook
NMLS# 226555
916-224-7653
John.Easterbrook@spmc.com
Patty Aguon
NMLS# 994635
916-833-5063
Patty.Aguon@spmc.com
Typical borrowers make their mortgage payments monthly. Some, however, make bi-weekly payments to reduce the term of their loans. Could weekly mortgage payments speed the payoff even further?
The answer in some cases is yes—but usually not much more than with bi-weekly plans.
Converting to any schedule that increases payment frequency reduces the principal loan amount faster, resulting in less interest owed and a shorter mortgage term, says Jack Guttentag, professor emeritus of finance at the Wharton School of the University of Pennsylvania. The biggest benefit of weekly payments, however, is not cost savings, but convenience for people who are paid weekly and like to handle bills accordingly, he adds.
To View This Entire Article Please Click Here
To discuss your monthly payments and how you can reduce your monthly payment through refinancing and be able to afford increased payments call us today.
The Easterbrook Team with Sierra Pacific Mortgage
806 Bidwell Street
Folsom, CA 95630
916-850-6050
EasterbrookTeam@spmc.com
John Easterbrook
NMLS# 226555
916-224-7653
John.Easterbrook@spmc.com
Patty Aguon
NMLS# 994635
916-833-5063
Patty.Aguon@spmc.com
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