30 year fixed Mortgage Rates:  Austin, Texas

What in the world are mortgage rates doing?   Especially 30 year fixed loan rates?  

As you can see in these below mortgage charts, home loan rates aren’t exactly stable right now.  

In fact,  this is the type of market you really should consider working with a Texas mortgage broker (like me!) as opposed to a retail bank.  Why? 

Because mortgage brokers have numerous banks to offer you and should 30-year loan rates go up dramatically during your home’s purchase or refinance-we can take advantage of lower rates by simple using a different bank.   Plus mortgage brokers offer more types of loans than banks such as investment property refinancing or “NO PMI” mortgage. Read the rest of this entry »

Austin Texas Refinance Mortgage Rates:  

Refinances, Texas Home Equity Loans | 100% loans | Traditional Fannie Mae Loans 5-10% doan

We serve all of Texas, from Austin  512-577-2958

  jon@mylendingplace.com

Recent economic news is pushing mortgage rates down:   Remember, bad economic rules tends to lower mortgage rates.  Today’s headlines are about the payroll report:

http://biz.yahoo.com/ap/080201/economy.html

Mortgage Rates are at a 2 year low.   So this is a great time to buy or refi.   The lowest Rates are on the 15 year which appear to be bouncing in the 5% range.   30 year Fixed rates are 5.625-6%.  

Read the rest of this entry »

100% financing is still available up to 417,000.  But is it a good idea?   

Phone is 512-577-2958 | jon@mylendingplace.com

When I started Mylendingplace over 3 years ago, I decided I wanted to do “good loans”.  Or Home loans that really helped people move forward toward their overall financial goals.   Remember, a mortgage is either a 15-30 year debt instrument or a financial tool.  It can be a 30 year debt loan or a tool to bigger, better things like getting out of  debt, saving for college, retirement. 

Any licensed mortgage person can do a home loan, it’s how the mortgage is constructed or designed that’s important.    In this post, let’s explore the question “how much is the right amount to put down on a home.”

Let’s compare the following:   80/20 loans (100% financing) or 10% down home loans.           Read the rest of this entry »