Mortgage Information #coldwell #banker #mortgage


#worthington mortgage

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Johnson Builders Realty Featured Mortgage Brokers

At Johnson Builders Realty, we want you to have the most pain-free experience possible. We provide you with experienced REALTORS with proven results. We provide you with a knowledgeable staff who can answer your every question. And, we can point you in the direction to get your new home financed through our featured banks and mortgage officers. Let’s get you PRE-APPROVED to buy your new home, TODAY!

First State Bank Southwest

1433 Oxford Street
Worthington MN 56187

First State Bank Southwest is the area leader in residential mortgages. Finance your new home by taking advantage of our long term fixed rate or adjustable rate loan programs. Our relationship with the Minnesota Housing Finance Agency and USDA Rural Development gives us the edge in fulfilling your low down payment financing needs. Come deal with the experts. Contact Mark Vis at 507-376-9747 or (Cellular 507-360-0204) to obtain your free pre-approval To know how much home you can afford.

United Prairie Bank

905 McMillan Street
Worthington, MN 56187

Almost nothing is closer to your heart than your home. That’s why at United Prairie Bank we take the time to tailor a loan that fits your needs. Let Mortgage Banker, Mary Burlingame, NMLS #709745, put her professional and personal experience to work for you.

As one of the leading housing lenders in the Worthington community, we offer a variety of programs to choose from with Rural Development, Minnesota Housing First Time Homebuyer’s, Federal Housing Administration, and Conventional loan options.

Member FDIC – Equal Housing Lender


Zero Down Mortgage – Information – FAQ #help #with #mortgage


#0 down mortgage

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Zero Down Mortgages: Are They Right For You?

Zero Down Mortgages: Are They Right For You?

What is a Zero Down Payment Mortgage?

A sero down payment mortgage is exactly what it sounds like: a mortgage that requires no money down at closing. Buying a home and putting no money down to do it sounds appealing to many, but in reality it’s hard to get a zero down payment mortgage in this climate, as banks no longer offer them to most consumers. Hard, however, doesn t mean impossible. Here s how you can score a zero down payment mortgage and the pros and cons of getting one.

How Can I Get a Zero Down Payment Mortgage?

Not everyone will qualify for a zero down payment loan, but in circumstances, you might. For one, if you’re a veteran, you might be able to get a VA loan with no down payment from the U.S. Department of Veterans Affairs (VA). In order to qualify for the loan you’ll need good credit, enough income and a Certificate of Eligibility from the VA but if you do, you may be able to enjoy these perks: no down payment on the home (as long as the sales price isn t higher than the appraised value of the home), no private mortgage insurance premium and limited closing costs.

Have you been pre-approved yet? Find a local lender on Zillow who can help

The second option for a no down payment loan is a USDA loan. The United States Department of Agriculture offers a variety of these loans with low interest rates. Most of the loans are designed to help low- or moderate-income people with decent credit buy a home in a rural area.

Two of the more popular USDA loans are the single-family direct homeownership loan and the single-family guaranteed homeownership loan.

The single-family direct homeownership loan is for low- or very low-income borrowers purchasing homes in rural areas. Eligible properties must be 1800 square feet or less with a market value below the applicable area limit. No swimming pools or properties designed for income-producing activities are allowed. The household adjusted income of the borrower must not exceed the applicable low-income limits for the area.

The single-family guaranteed homeownership loan helps those with incomes that are below 115 percent of the median income for the area buy modest homes in rural areas.

Pros and Cons of a Zero Down Payment Loan

The perks of a zero down payment mortgage are simple: You can get a mortgage to buy a home without having to put any money down. This means those without savings could buy a home. Though that sounds appealing, it does come with downsides. For one, you’ll have no equity built up in your home at the time of purchase, so you won’t be able to do things such as take out a home equity loan or home equity line of credit if you need to do home repairs or have other expenses you need to take care of. Plus, you’ll likely be paying off this home loan for longer than someone who had put money down would, which means you’ll likely be paying the bank thousands more in interest payments over the life of the loan.

Bottom Line

Most home buyers will need to put down at least 3 to 5 percent or more of the cost of the home to get a mortgage. But no matter what kind of loan you get with a down payment or without make sure you can truly afford the mortgage payments and the other costs of homeownership (insurance, repairs, etc.) every month. Use Zillow s free mortgage calculator to help estimate your monthly mortgage costs or our affordability calculator to determine what you can truly afford.


Prime Rate Information #mortgage #insurance #calculator


#prime interest rate today

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Newsroom

Company Overview

Facts about Bank of America

  • Journalist Resources

    Resources for journalists seeking information about Bank of America

  • Press Kits

    Press kits and prime rate information

  • Press Releases

    Bank of America’s press release archives

  • Executive Biographies

    Biographies and photos of senior Bank of America executives

  • Prime Rate Information

    The current Bank of America, N.A. prime rate is 3.50%. The prime rate is set by Bank of America based on various factors, including the bank’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans. Bank of America may price loans to its customers at, above, or below the prime rate.

    In some Bank of America loan documentation, the term “reference rate” has been used to refer to this lending rate. The terms “prime rate” and “reference rate” refer to the same rate.

    Company Prime Rate History

    • Bank of America, N.A. — Bank of America, N.A. was created through the merger of NationsBank N.A. and Bank of America NT SA on July 23, 1999. A history of the prime rate for Bank of America, N.A. shows each prime rate change since that date.
    • NationsBank N.A. and NCNB — A history of the prime rate for predecessor banks NationsBank N.A. and NCNB shows the date of each change from May 25, 1975 to July 22, 1999.
    • Bank of America NT SA — A history of the prime rate for predecessor Bank of America NT SA shows the date of each change from December 1, 1947 to July 1, 1999.

    Related Materials:


    E*TRADE Mortgage Corporation: Private Company Information #mortgage #loan #calc


    #etrade mortgage

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    Company Overview of E*TRADE Mortgage Corporation

    Company Overview

    E*TRADE Mortgage Corporation is a provider of mortgage lending for consumers. E*TRADE Mortgage Corporation offers the full compliment of mortgage products: Conventional, Fannie Mae and Freddie Mac, Jumbo, Subprime, FHA. VA, 2nds, Debt Consolidation and Home Improvement. E*TRADE Mortgage Corporation was formerly known as LoansDirect, Inc. and prior to that as Tricor Mortgage Lending. As a result of its acquisition by ETRADE Group, Inc. the name of LoansDirect, Inc. was changed. E*TRADE Mortgage Corporation operates as a subsidiary of E*Trade Bank.

    7755 Center Avenue

    Huntington Beach, CA 92647

    Key Executives for E*TRADE Mortgage Corporation

    E*TRADE Mortgage Corporation does not have any Key Executives recorded.

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    10 Year Fixed Mortgage Rates, 10 Year Home Loan Information #residential #mortgage


    #10 year mortgage rates

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    Research 10 Year Fixed Mortgage Rates

    If you are looking for the security of a fixed rate mortgage and are planning on paying off your loan quickly, then a 10 year mortgage might be the right program for you. 10 Year fixed rate loans tend to be the lowest of all fixed rate products (you can check current 10 year rates here ). You may also save a tremendous amount of interest over the life of the loan due to the shortened duration of the mortgage and rapid pay down of principal. If you can afford the payments, then we say go for it . Let s take a look at some of the numbers:

    Sample loan comparison between a 15 year fixed and a 10 year mortgage:

    15 Year Fixed
    $100,000 Loan Amount
    Note Rate: 5.50%
    Monthly Principal Interest Payment: $817.08
    Total Interest Paid Over the Life of the Loan: $47,075.02

    10 Year Fixed
    $100,000 Loan Amount
    Note Rate: 5.375%
    Monthly Principal Interest Payment: $1,079.33
    Total Interest Paid Over the Life of the Loan: $29,519.16

    Total Interest Saved with ten year mortgage: $17,555.68

    As you can see, you could save a considerable amount of money by simply shortening the length of the loan five years. Note this is just a rough comparison and only takes into about the note rate. Be sure to review APR when considering a provider.

    You can use the rate tables on ForTheBestRate.com to research ten year mortgage pricing from multiple mortgage lenders, brokers, and banks serving your state. You ll find 10 yr pricing information by selecting the related program under the product selection tool in the rate table survey on ForTheBestRate.com.

    Request rate and program information (2 options):

    • Use ForTheBestRate.com to call the various lenders and brokers listed in the survey.
    • Research current ten year pricing by clicking over to the lenders and brokers web sites.

    Cherry Creek Mortgage – Providing mortgage loans and information #bankrate #loan #calc


    #cherry creek mortgage

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    Matthew Hibler

    Copyright © 2016 Cherry Creek Mortgage Co. Inc. Company NMLS ID #3001. All Rights Reserved.

    CCMC is proud to offer Reverse Mortgages through our retail branches and division at 1st Reverse Mortgage USA. Promotional and advertising material for Reverse Mortgages is not from HUD or FHA and not approved by the Department of HUD or any Government Agency. HUD does not approve the material presented.

    Cherry Creek Mortgage is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, the Veterans Administration, the U.S. Department of Agriculture or the Federal Government. This material is informational only and is not an offer to lend or recommend available products. This is not an advertisement to extend credit as defined by Regulation Z, nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting guidelines and approval based upon the credit, assets, value of subject property and borrower’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice, so please speak directly with your loan officer to learn more about specific loan program requirements and whether or not you qualify.

    The Home Owner’s Market Report™ and Home Scouting Report® are free online home finding services provided directly to prospective homebuyers by Home Buyers Marketing II, Inc. a licensed real estate company and its real estate brokers as part of their ordinary real estate brokerage services. The role of the Preferred Lender is to work with the agent in the area of converting lost contacts to sales. The Preferred Loan Officer’s role is to assist in determining a comfortable home price range for Home Buyers Marketing II, Inc. to use when it is searching for property listings within the buyer’s search criteria. The Preferred Loan Officer is neither an employee of HBM II, nor the provider of the Home Owner’s Market Report® or Home Scouting Report®. ©2015 Home Buyers Marketing II, Inc.


    Cherry Creek Mortgage – Cherry Creek Mortgage provides residential mortgage loans and information in 24


    #cherry creek mortgage

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    Trusted by Those We Serve

    “Cherry Creek Mortgage is the #1 mortgage company that we recommend to our clients.

    My team has been in business for 16 years, and my business is strictly based on referrals. Who I trust with my clients’ needs is vitally important to my business.
    Cherry Creek Mortgage is Great!”

    “I have worked with CCMC for 6 years. Honesty, integrity, professionalism and communication are what I see in daily practice. CCMC ethics far outweigh any other decision, and that is the most valuable part of the real estate business.”

    Home Search Tools

    Home Scouting Report®

    Cherry Creek Mortgage has partnered with the most powerful online Home Search Service in the business. Cherry Creek Mortgage offers you this website free of charge.

    The Home Scouting Report® . provided by Home Buyer’s Marketing II (HBM II), a licensed real estate brokerage services company. This report will provide up-to-the-minute information on properties for sale, based on your search criteria. Click on the button below and start your home search today!

    On a mobile device or tablet? Click on the appropriate button below download the Home Scouting App .

    Search All The Listings!

    Copyright © 2016 Cherry Creek Mortgage Co. Inc. Company NMLS ID #3001. All Rights Reserved. Some loan products may not be available in all states. Licensing: AZ: Mortgage Banker License #BK-0904024; CA: Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130289; IL: Illinois Residential Mortgage Licensee LMB # 0005759; KS: Kansas Licensed Mortgagee, License SL-0000472; MN: This is not an offer to enter into an agreement. Any such offer may only be made in accordance with Minn. Stat. 47.206(3) (4); NV: NV Mortgage Banker License #4195. NV Mortgage Broker License #4196; OR: License Number ML-4807; TX: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
    THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV .

    CCMC is proud to offer Reverse Mortgages through our retail branches and division at 1st Reverse Mortgage USA. Promotional and advertising material for Reverse Mortgages is not from HUD or FHA and not approved by the Department of HUD or any Government Agency. HUD does not approve the material presented.

    Cherry Creek Mortgage is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, the Veterans Administration, the U.S. Department of Agriculture or the Federal Government. This material is informational only and is not an offer to lend or recommend available products. This is not an advertisement to extend credit as defined by Regulation Z, nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting guidelines and approval based upon the credit, assets, value of subject property and borrower’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice, so please speak directly with your loan officer to learn more about specific loan program requirements and whether or not you qualify.

    The Home Owner’s Market Report™ and Home Scouting Report® are free online home finding services provided directly to prospective homebuyers by Home Buyers Marketing II, Inc. a licensed real estate company and its real estate brokers as part of their ordinary real estate brokerage services. The role of the Preferred Lender is to work with the agent in the area of converting lost contacts to sales. The Preferred Loan Officer’s role is to assist in determining a comfortable home price range for Home Buyers Marketing II, Inc. to use when it is searching for property listings within the buyer’s search criteria. The Preferred Loan Officer is neither an employee of HBM II, nor the provider of the Home Owner’s Market Report® or Home Scouting Report®. ©2015 Home Buyers Marketing II, Inc.


    Reverse mortgage information #bank #rates #mortgage


    #reverse mortgage information

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    HUD/FHA Reverse Mortgage Guide

    Included in your reverse mortgage guide:

    1. 28 Page FHA Reverse Mortgage Guide. Gain complete understanding of the reverse mortgage.
    2. How to Avoid Five Costly Mistakes. Learn to easily avoid these pitfalls and save thousands in your home’s equity.
    3. Reasons Not to Get a Reverse Mortgage. Learn the three reasons avoiding the reverse mortgage may be the correct choice.
    4. Four Cash Out Options and which may work best for you to maximize your financial future.
    5. 7 Myths debunked. Get the right information – not misinformation.
    6. How benefits of program may be shrinking soon…
    7. New! Bonus Informational Kit Lists Typical Costs and Fees. Now included with your guide, along with 9 important questions to ask your lender.

    This website is used for the primary purpose of educating those seeking information regarding the reverse mortgage. Obtaining a reverse mortgage is a big decision in one’s life and getting the proper balanced education prior to that decision is of the utmost importance. After receiving your reverse mortgage guide, our system will automatically send you a series of 15 educational emails. Thereafter, you will receive no more correspondence from us unless you sign up for our reverse mortgage newsletter, in which case you will receive the email newsletter once per month. Your personal information will not be sold or shared with any other company.

    What is FHA and why is it important to the mortgage industry? The Federal Housing Administration (FHA) was established in 1934 to facilitate homeownership in the United States during the depression of the 1930’s. Its primary role was and is to insure FHA approved mortgage lenders, thereby adding stability to the marketplace. With the backing of this governmental agency lenders can more confidently loan money in cases that, without this backing, the lender would not normally consider.

    Traditionally, FHA insured mortgages were obtained as a low down payment option for first time homebuyers and others with little cash as down payment. Though once considered the ugly sister to the more popular conventional mortgage products, since the financial collapse of 2008, the number of new FHA insured mortgage has surged dramatically.

    What is an FHA insured reverse mortgage?In 1988, President Reagan signed the FHA Reverse Mortgage Bill into law which placed FHA an insuring and regulatory body in the reverse mortgage industry. Since 1988, FHA has insured over 200,000 reverse mortgages and FHA reverse mortgages account for at least 98% of all reverse mortgages in the U.S.

    Very much like regular forward mortgages, FHA insures reverse mortgage lenders against foreclosure losses, thereby opening up the market to more possible reverse mortgage borrowers than would normally exist without FHA involvement.

    Furthermore, acting as the regulatory body, FHA sets the rules for the entire industry and actively and prodigiously audits FHA approved lenders for compliance reasons.

    At least 10% of all FHA loans are eventually audited by FHA for compliance purposes. Those lenders failing to comply with the set rules are subject to heavy fines and if problems persist a lender can be stripped of its FHA approved status. For most lenders, the latter penalty is tantamount to expulsion from the mortgage industry.

    Phone: (855) 469-7383. Ext. 802 • Fax: (972) 332-4135

    iReverse Home Loans • 6060 N. Central Expwy. Ste. 500 • Dallas, TX 75206

    NMLS #773830 | Corporate NMLS #810502

    State of Texas Disclosures:
    iReverse Home Loans, Inc. is licensed under the laws of the state of Texas and by State law is subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550 .

    The Department maintains a Recovery Fund to make payments of certain actual out of pocket damages sustained by borrowers caused by the acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the deparment’s website at www.sml.texas.gov .

    This information is not from HUD or FHA and was not approved by HUD or any government agency.

    iReverse Home Loans, LLC originates reverse mortgages in Alabama, Alaska, Arizona (MB-0919584), California, Colorado, Connecticut, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon (ML-5378), Pennsylvania, South Dakota, Tennessee, Texas, Utah, Vermont (1164-MB), Virginia, Washington and Wisconsin.


    Prime Rate Information #historical #interest #rates


    #prime interest rate today

    #

    Newsroom

    Company Overview

    Facts about Bank of America

  • Journalist Resources

    Resources for journalists seeking information about Bank of America

  • Press Kits

    Press kits and prime rate information

  • Press Releases

    Bank of America’s press release archives

  • Executive Biographies

    Biographies and photos of senior Bank of America executives

  • Prime Rate Information

    The current Bank of America, N.A. prime rate is 3.50%. The prime rate is set by Bank of America based on various factors, including the bank’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans. Bank of America may price loans to its customers at, above, or below the prime rate.

    In some Bank of America loan documentation, the term “reference rate” has been used to refer to this lending rate. The terms “prime rate” and “reference rate” refer to the same rate.

    Company Prime Rate History

    • Bank of America, N.A. — Bank of America, N.A. was created through the merger of NationsBank N.A. and Bank of America NT SA on July 23, 1999. A history of the prime rate for Bank of America, N.A. shows each prime rate change since that date.
    • NationsBank N.A. and NCNB — A history of the prime rate for predecessor banks NationsBank N.A. and NCNB shows the date of each change from May 25, 1975 to July 22, 1999.
    • Bank of America NT SA — A history of the prime rate for predecessor Bank of America NT SA shows the date of each change from December 1, 1947 to July 1, 1999.

    Related Materials:


    5 Year ARM Rates, 5 Year Adjustable Rate Mortgage Information – American Financial Resources #online


    #5 year arm

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    Research 5 Year ARM Rates and Programs

    5/1 ARM programs offer low introductory rates for a five year period before they begin to adjust. Most 5 year adjustable rate products are tied to either the 1 year LIBOR index or the 1 year US treasury rate (plus the loan s margin). Your loan consultant can explain the benefits and potential liabilities of the various indexes so that you can make a well informed decision. While one 5 year arm may have a lower rate, its index may be historically more volatile and may not be worth the risk if you are only saving an eighth to the rate. 5 year ARM rates are typically lower than 30 year fixed rates which is why most people consider an ARM. Be sure to request quotes on both a 30 year loan and a 5 year adjustable rate mortgage to make sure that there are significant savings. If there are not, then it probably make sense to stick with the security of a 30 year mortgage. Contact American Financial Resources today to learn more about our 5/1 ARM products.

    Contact AFR Mortgage for More Information (3 Options)

    • Call 800-316-9508 for a free consultation.
    • Check 5 year ARM rates using the Mortgage Quote Form on this page.
    • Get Started Online .

    Why Consider a 5 Year Adjustable Rate Mortgage?

    • Can be a good choice for homeowners who only plan on being in the properties for 3-7 years.
    • Should only be considered by people who feel confident in their employment status.
    • 5/1 ARM products are very risky in declining real estate markets unless there is a significant amount of equity in the property. Consumers will not want to be upside down in their homes and not be able to refinance out of a 5 year ARM.

    Call American Financial Resources today to discuss current 5 year ARM rates and for a no obligation mortgage consultation.

    Please provide the following information to get started on your quote.

    Popular Quick Searches:

    Copyright 2009 – 2015 American Financial Resources, Inc.
    Trade/service marks are the property of American Financial Resources, Inc. Some products may not be available in all states.
    This is not a commitment to lend. All loans subject to credit approval. All rights reserved.

    Call 800-634-8616 for quotes and consultations. For all other inquiries, please call our corporate office at 800-316-9508.