CONSUMER CONSUMER REPORT– REPORT– HOME LOANS HOME LOANS
SHOPPING SHOPPING AROUND? AROUND? HERE'S THE INSIDE HERE'S THE INSIDE SCOOP ON HOW SCOOP ON HOW TO DO IT RIGHT TO DO IT RIGHT
First: make sure you are working with an experienced, professional loan officer. The largest financial First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of transaction of your life is far too important to place into the hands of someone who is not capable of advising properly troubleshooting issues arise along way. tell? advising you you properly and and troubleshooting the the issues thatthat maymay arise along thethe way. ButBut howhow cancan youyou tell?
Here FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST Here areare FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BEBE ABLE ANSWER CORRECTLY. IF THEY NOT KNOW THE ANSWERS… ABLE TO TO ANSWER CORRECTLY. IF THEY DODO NOT KNOW THE ANSWERS… RUN…DON’T WALK… RUN…TO A LENDER THAT DOES! RUN…DON’T WALK… RUN…TO A LENDER THAT DOES!
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Johnson Lending Team – daily for daily are mortgage interest Lending Team – for WhatWhat are mortgage interest ratesrates Johnson updates. Want more? based on?(The correct answer updates. Want more? Let Let me me based on?(The onlyonly correct answer know if you want toadded be added is Mortgage Backed Securities if you want to be to to is Mortgage Backed Securities or or know my weekly distribution list. Mortgage Bonds, NOT the 10-year my weekly distribution list. Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note. While the 10-year When Janet Yellen {Chairmen Treasury sometimes trends When Janet Yellen {Chairmen Treasury NoteNote sometimes trends of Federal Reserve} in same the same direction as Mortgage of Federal Reserve} andand the the FedFed in the direction as Mortgage “change rates”, what does Bonds, it is not unusual to see “change rates”, what does thisthis Bonds, it is not unusual to see mean… what impact move in completely opposite mean… andand what impact doesdoes themthem move in completely opposite havehave on mortgage interest directions. DO NOT workwork withwith a a this this on mortgage interest directions. DO NOT answer maymay surprise lender whowho has their eyeseyes on the rates?(The answer surprise lender has their on the rates?(The you.you. When the the Fed Fed makes a move, wrong indicators.) When makes a move, wrong indicators.) theythey can can change a rate called the the change a rate called “Fed“Fed Funds Rate” or “Discount WhatWhat is the Economic Funds Rate” or “Discount is next the next Economic Rate”. These are both veryvery shortReport or event that could cause Rate”. These are both shortReport or event that could cause termterm ratesrates thatthat impact credit interest rate rate movement? (A (A impact credit interest movement? professional lender will will havehave cards, Home Equity credit lines, cards, Home Equity credit lines, professional lender autoauto loans andand the the like.like. On On the the this this at their fingertips. For an loans at their fingertips. For an day day of the Fed Fed move, Mortgage up-to-date calendar of weekly of the move, Mortgage up-to-date calendar of weekly economic reports and events rates most often will actually economic reports and events rates most often will actually that that maymay cause ratesrates to fluctuate, in the opposite direction cause to fluctuate, move move in the opposite direction visitvisit our Facebook page Finance as the Fed change. This is to to our Facebook page Finance as the Fed change. Thisdue is due of America Mortgage – Bryan the dynamics within the financial of America Mortgage – Bryan the dynamics within the financial
markets in response to inflation. markets in response to inflation. more information For For more information andand explanation, a call). explanation, justjust givegive us auscall). have access to live, Do Do youyou have access to live, realreal time, mortgage bond quotes?(If time, mortgage bond quotes?(If a lender cannot explain a lender cannot explain howhow Mortgage Bonds and interest Mortgage Bonds and interest rates moving in real time rates are are moving in real time andand warn youyou in advance of aofcostly warn in advance a costly intra-day price change, youyou areare intra-day price change, talking with someone whowho is still talking with someone is still reading yesterday’s newspaper, reading yesterday’s newspaper, andand probably notnot a professional probably a professional withwith whom to entrust your home whom to entrust your home mortgage financing. Would youyou mortgage financing. Would work withwith a stockbroker whowho is is work a stockbroker onlyonly ableable to grab yesterday’s paper to grab yesterday’s paper to tell you how a stock traded to tell you how a stock traded yesterday, butbut hadhad no idea what yesterday, no idea what the the movement looks like at movement looks like the at the present timetime andand what market present what market conditions could cause changes in in conditions could cause changes the the nearnear future? No No way!) future? way!)
