The Low Price Lender is please to announce the addition of two new mortgage loan programs! These new programs will be available to Utah homebuyers who close on their loans after April 9th, 2012.

These programs are NOT limited to first-time home buyers and a down payment/closing cost assistance loan will be and is available. Furthermore, with one of these new programs borrowers with Mid Fico Scores from 620-659 will also be eligible, whether they are first-time homebuyers or repeat homebuyers.

The financial and housing crisis of the last few years has created significant challenges for existing homeowners as well as those desiring to purchase a home. Fortunately, during this time period, The Low Price Lender has proactively searched for programs which allow for and provide affordable financing options for more low to moderate income homebuyers in Utah.

For complete details regarding this and any other mortgage programs you may have questions on please feel free to contact me.

Becoming a homeowner is a dream for every American. Although this dream seemed impossible to come true for a few years when the country was caught up in the crippling economic recession, there is still hope. The aftermath of the recession has started to wear off in a number of U.S. states. In states like Utah, the housing market is a prime example of how the economy is on the road to recovery here. Now people who were afraid to own properties during the financial crisis are showing confidence in the real estate market. If you are still confused about whether you should own a home or not, here are a few advantages of homeownership that will convince you to become a homeowner:

-          As homeowners, you are allowed by the U.S. Tax Code to get interest deducted on the payout you make on mortgage, property taxes and the house rates.

-          Paying monthly mortgage is much like paying rent. But the difference is that you pay rent without securing anything, whereas mortgage gradually secures the property in your name.

-          Rent keeps increasing with time. However, mortgage rates are predetermined and remain the same as were originally decide.

-          When you have the house in your name, you have the liberty to refurbish it in any way you want to. You are in control of all the facilities and utilites that are essential for the house. Moreover, locations in Utah like Syracuse, Bountiful and Hill Air Force Base also offer their residents a good environment and community living to be a part of.  

-          Buying a house is a long-term investment. This means that you would be staying in the community where you bought a house for an extended period of time. This stable part of your life gives you a chance to relax, whether you purchase a cozy Springville home, a “McMansion” in Salt Lake Cityor are an officer stationed at Hill Air Force Base.

Buying a house inUtah, has never been easier and with the reasonable rates at which you can get a good living as a home owner in Utah is closer than you think. The first step is to contact The Low Price Lender and see what you can qualify for. He can also help you with a number of options regarding government sponsored programs that can help you with the down payments needed to purchase a home under some loan programs.

There are many ways to celebrate paying off a mortgage. Some involve festive bonfires, some entail special shopping trips, and some are special nights out. Whatever the marker, this milestone is a special one.

An impromptu poll of friends and family about ways to hurry along that desired event may yield varied results, but one of the top answers is likely to be a variation on paying more each month.

It would be interesting to see if anyone mentioned refinancing for a lower interest rate, which could result in lower monthly payments that are easier to pay more over.

When seeking to lower the interest rate of a mortgage, there are many factors to consider.
One of those is determining which lender to use. The Low Price Lender in the local mortgage banker who works tirelessly to help people in Utah with their mortgage needs be it refinance or purchase.

Advertisements abound for lenders promising great rates, but there are usually caveats to those rates. Wading through the fine print can be tedious, but the end result makes it worth the effort. A website that aggregates lenders and their requirements makes it less difficult.

An online calculator can be an invaluable tool for estimating how much a refinance might save on the monthly payments and interest due. A few moments entering information offers a wealth of choices and possibilities in an easily understood format. The calculator also gives the mortgage owner the ability to input different scenarios to see which might be the best fit.

With information about rates and the results from the calculator, many people looking to refinance turn to the online quick-quote feature to see some real numbers. Based on a
homeowner’s principle balance, income, credit and a few other details, a quick-quote may be a viable offer from a few lenders. What that won’t do is tell you the kind of service that can be offered.

For homeowners ready to pay off the last of the mortgage, working with The Low Price Lender and a calculator to determine payments, and a quick-quote for actual rates can help you greatly.

Lowered monthly payments offer not only the chance pay down faster but also the chance to breathe lighter in a down economy. Benefits will vary from individual to individual, but they are there for everyone.

One question can have a hundred answers, and choosing among those answers can be daunting, particularly if there are strong feelings involved. Yet the desire to make that last payment can be even stronger, and with the right tools and information, it can become a reality.

If you are looking to refinance your current FHA loan or purchase a home using an FHA loan do so ASAP as their are changes coming to FHA loans starting on April 1st of 2012 that will make it so that the monthly payments are going to go up.

The biggest of these changes is that the Up Front Mortgage Insurance Premium or UFMIP amount is going to increase from 1% of the loan amount to 1.75% of the loan amount. This “fee” can be financed into the loan however acting now will save you money!

The next item that will be increased is the monthly mortgage insurance premium is going to increase by .100 percent. Currently on FHA loans with an LTV greater than 95% the monthly MI factor is 1.15 and loans less than 95% are at 1.1%.

If you have any questions on how this may or could affect a possible refinance or purchase please feel free to contact me and we can discuss it.

The best mortgage program so far aimed at helping millions of underwater homeowners is poised to take off within the next few weeks; however some key issues could thwart borrowers’ participation. One of them involves something most owners know nothing about: Who was your mortgage insurer on your underwater loan?

Though it was announced by the Obama administration the end of last year, the so called “HARP 2.0” – the second version of the making Home Affordable Refinance Program, or HARP program – will only hit full stride around the middle March, when Fannie Mae and Freddie Mac finish working on their automated underwriting systems to accept applications, and lenders and mortgage insurance companies start handling large volumes of requests.

The changes are crucial for homeowners who have mortgage balances greater than 125% of the current values of their home. Under HARP 2.0, there is no upper limit on permissible loan-to-value ratios, or LTVs. One could owe twice or even three times the value of your home and still qualify for a refinancing at today’s low interest rates. The earlier version imposed a limit of 125%, which cut out millions of victims of the real estate bubble burst.

HARP 2.0 also comes with streamlined underwriting – no requirement for physical appraisals in some cases, faster processing and lower fees imposed by Fannie Mae and Freddie Mac in recent years.

The objective is to get it right this time around by removing the previous obstacles to widespread participation by lenders and severely underwater borrowers. Industry studies estimate that as many as 6.9 million loans could fit the broad requirements for refinancing, but that somewhere around 2 million borrowers are likely to qualify on all the detailed eligibility criteria.

Among the key rules:

- Only loans owned or guaranteed by Fannie Mae and Freddie Mac are eligible. Underwater borrowers who have FHA, VA or other types of mortgages are not. The Low Price Lender can help you find out whether or not you are eligible for this program.

- Your mortgage must have been purchased or securitized by Fannie or Freddie by no later than May 31, 2009, and must have an LTV ratio in excess of 80 percent.

- You must be current on your loan with no 30-day late payments during the six months preceding application and no more than one late payment during the last 12 months.

If you think you qualify right now, contact me and I will help you proceed with this. Once the fully automated program has all the bugs worked out of it in a few weeks I should be able to shop your loan around to the best lender for your scenario.

A large percentage of people living in the United States pay hundreds if not thousands of dollars each month as rent for the apartment or house they’ve rented. It might seem like the sensible thing to do if you’re living from paycheck to paycheck with no substantial savings in the bank. This is because generally buying a house requires you to put some cash down initially. This is where a lot of prospective home buyers back down from the idea of home ownership. They just don’t have the cash for a down payment. They stick to being a renter rather than go for home ownership.
It is now possible to get a home putting minimum or no money down. Instead of paying hundreds or thousands each month to pay rent on an apartment or a house that is not even yours, you can use the same money to get yourself a decent home that you can actually own.
Living in Utah, there are several options available for a first time home buyer. To buy your first home you will need a loan from a lender. It would be advisable you consult a mortgage lender before making up your mind and signing a contract. A mortgage lender will help you in determining how much money you can afford to pay for a house and the total amount that it will cost you after everything has been included. This process is called pre-qualification and it should be your first step before actually going house hunting.
Listed below are some of the advantages of getting your own home, over renting an apartment or a house.
• Owning a home means the property is yours by law. You are free to do with it whatever you choose. Minor modifications in structure or a total change in layout; it’s up to you to decide and no one can challenge your right to do that.
• Renting a house does not qualify you for some of the major tax cuts that home owners are qualified for. Thus, owning a home will save you money in the long run.
• The monthly payments on your home may actually be less than the rent you were paying on your apartment.
• Owning a home does wonders for your credit rating and will help you with future purchases and transactions.
• A house is an asset and one that is yours to stay, no matter what.

There is no reason you shouldn’t opt for getting your very own house, whether you live in Utah or some place else in the United States. You can even get a reasonable quote on home insurance to safeguard your new home.

Loan fraud/s are unfortunately a very common thing today and they can be either customer or lender driven. When it comes to customers, it is recommended always to gather as much information on your lender before you start anything. The Low Price Lender in Utah can give you advice on that subject and show you how to protect yourself. Most importantly – don’t lie in your paperwork and don’t be greedy, that won’t take you anywhere, you may need the loan desperately, but that is just not the way to get it. Simply, if you can’t qualify for what you want he will help you to discover what you can qualify for.
Some brokers recently have developed different ways to overcharge the home buyers. The most common thing is that brokers usually may quote very low rates, but won’t be able to provide them, so don’t fall for those “to good to be true” deals. Sometimes a buyer must pay some fees that brokers didn’t mention. That’s why you have to go through every single detail and ask many questions before you chose the right lender. If you apply for a loan and if you don’t lock in immediately, you better monitor the mortgage rates daily, or you can “accidentally” get worse rates than you expected. Some borrowers prefer to let their rate float; the worst thing is that the rate you were banking on is no loner available, just before you want to close. There are many other things you should consider, and the best way to stay protected is to get all the conditions writing.
If you are wondering how to recognize fraud, there are some things identified by “Loan Modification Scam Alert” and you should remember them: if a company asks for a money to help your lender to modify, refinance or reinstate your mortgage; if someone guarantees that they can stop the foreclosure of get the loan modified; if a company advises you to stop paying your mortgage company and pay them instead; if a company tells you to sign the papers you haven’t read or understood; if a company tells you that they can provide you with the government-approved loan modification. The low price lender will help with all the things you need to be finally sure how to act and what to do in these situations.
If you have any doubts, Internet will be your best friend. Calculate your own mortgage loan rates, interest rates, and compare different quick quotes. If your friends and family recommend you a company, you can have some peace and get mortgage loan you deserve.

The last year or so has shown a slump in the housing and property market. This may be due to the overall economic downfall that we’ve experienced the world over and it definitely has some negative implications. Nevertheless, this is the perfect time for buyers to invest in a house. Whether you’re a first time buyer looking for a great deal on the purchase of a family house that you intend to keep or you’re an investor interested in long-term returns that your property investment might bring you, now is the time to make your move. The market is full of prime property and great housing at a fraction of the prices they were sold for a few years ago.

Buying a house in today’s market is relatively easy to do even for the average person. The services of a mortgage broker can be acquired who can guide you with respect to your particular needs. Your broker can give you the exact facts and figures, so that you’re able to get an estimate of the amount you can afford and the total sum of money that buying a house will cost you. This pre-qualification process can be further enhanced by choosing to get pre-approved. Pre-approval is given after a detailed study of your credit and employment history making you more liable to get the loan of your choice. The loan amount and the exact loan terms will have to be discussed with your lender with the guidance of your broker.

It might not be a complete substitute for a broker but a mortgage calculator does give you the freedom of getting a quote from the comfort of your home. By entering some basic data, including loan amount, amortization, loan terms etc. you can get an approximate estimate and find out exactly how much your monthly premiums will be.
If you’re uncertain about certain information that is required in the calculator, and want to find out the exact facts and figures before using it. Any discrepancy in the entered information could result in incorrect results. Additionally, there are certain factors that may not be required in the calculator but might affect the overall loan premiums that you end up paying. Therefore, before making any decision, double-check with a broker to get yourself the best possible answers.

If you have grown tired of paying rent constantly and want to buy your own house, you couldn’t have thought of it at a better time. Unlike the fears that the housing market was engulfed in for the past few years, there are now new reasons for prospective buyers to be confident when making an investment in real estate. Among these, perhaps the most important factor is that the housing prices are at an all time low in the past more than 40 years. This also contributes to the wide availability of the low price lender offers for buyers who are thinking of buying a house any time soon.
You can judge the affordable rates at which houses are available presently in Utah by considering three markers – the housing costs, your own salary and rate of mortgage. With house prices falling so low, the mortgage rates have also gone down. This is because the markup charged on the mortgage is on a decline, making it the perfect opportunity for prospective buyers to get a loan term that suits their pockets. With the salaries holding steady even during the worst of economic times, buying a house would be a sensible thing to do if you decide right now.
States like Utah not only have a lot of housing opportunities for interested buyers but also provide affordable options with little or no down payment. The low price lender knows of programs that do not require a big down payment and will facilitate for you getting a good and reasonable rate. With the amortizing calculators now available online for free, you can easily calculate you total loan amount for the entire loan term. This will help you in planning your mortgage payment accordingly.
Since buying a house is a long-term investment, if you purchase it now for a cheaper rate, there is a great chance that the prices will appreciate as soon as the economy fully recovers from the recession. In many ways, paying back your loan amount for the given loan term on a monthly basis will be much like paying rent, except that at the end you become a homeowner.
For anyone who is interested in buying a house in Utah, now is the time since the housing market in this state is now beginning to grow. Before you make the final decision about the house you want to buy, browse the market with a great real estate agents. This will help you in getting the best bargains that the low price lender has to offer.

With banks, credit unions, and the financial markets closed today in honor of Presidents Day, I am forced/fortunate enough to take the day off. I’ll b headed to Snow Basin shortly to enjoy some skiing and snowboading with my wife and daughter. I will be back at it in full effort tomorrow though. In the mean time thanks George and Abe for being good guys that because of your actions were deemed worthy of a national holiday. If it weren’t for you I’d be working today.