Diana's Neighborhood

Real Estate in New York & Connecticut – Won't you be my neighbor?

Rate Update…. Very Low!

 
Carey Lance Hollander
Retail Sales Manager
Guaranteed Home Mortgage Company
Phone: 914.424.5962License: NMLS # 74044
chollander@ghmc.com
www.ghmc.com/chollander

 

  

 
 DOES PAYING POINTS MAKE SENSE?
Points are up-front fees paid to obtain a better interest rate on a loan. One point equals one percent of the loan amount. A lower interest rate may result in a lower monthly payment, but it is important to consider how long you intend to be in the loan, and to compare current rates to historical market trends.

If you take out a $300,000 mortgage and decide to pay one point, this translates into an up-front closing cost of $3,000. Paying a point up front saves $100 a month but it will take 30 months to recuperate the cost of that point. If you decide to refinance or sell the home before the 30-month mark, your money is lost. In this case, you would benefit financially by remaining in the home longer than the 30 months.

Rates run in cycles. When rates are at historical lows, it is sensible to pay points if you plan to live in the home for an extended period of time. It is unlikely that rates will go down; hence, there will be no need to refinance.

When rates are up, there is a strong likelihood that they will come down. This is no time to pay points. The chances of refinancing in the future are extremely high, and you will likely not be in the loan long enough to recuperate the cost of the points.
Mortgage Interest Rates*  CRAZY LOW!!!
Rates as of Saturday, 3rd December, 2011:

 

Term

Conforming

APR

Payment per
$1,000

Jumbo

APR

Payment per
$1,000

Arm Reset Term

30 Year Fixed Conventional

360

3.875%

3.909%

$4.70

4.375%

4.397%

$4.99

-

10/1 ARM

360

4.0%

3.782%

$4.77

4.0%

3.782%

$4.77

360

7/1 ARM

360

3.25%

3.338%

$4.35

3.25%

3.338%

$4.35

360

5/1 ARM

360

2.875%

3.222%

$4.15

2.875%

3.222%

$4.15

360

 


*Rates are subject to change due to market fluctuations and borrower’s eligibility. Payment amounts do not include amounts for taxes and insurance. Actual payments will be higher.

For professional use only. Not intended for consumer distribution.
Regarding the ARMs: Rates are up to $1,000,000 loan amounts. 20% down is the minimum downpayment required. Rates chance daily, not all borrowers will qualify. Equal Housing Lender/Direct Lender

December 5, 2011 Posted by | Mortgage, Real Estate, Uncategorized | , , | Leave a Comment

Obama Promises More Low Cost Mortgages

I received some positive news today via e-mail.  An article written in “Daily Real Estate News” through Realtor.org

obama

Obama Promises More Low-Cost Mortgages…

President Barack Obama promised Saturday to reduce mortgage costs as a key part of his plan to improve the economy.

Analysts applauded the move, saying that making low-cost mortgages widely available could stabilize housing markets and jump start new home construction.

Beyond that, observers say aid for the troubled housing market will help blunt the anger many Americans feel over the financial bailout as the executives of firms that received billions take bonuses while average people lose their homes.

Source: Reuters News, Mark Felsenthal (01/31/2009)

Any positive news makes me happy for both my buyers and sellers.  My buyerswill be able to possibly take advantage of these historically low interest rates and sellers may see more activity and possibly a SOLD sign in front of their home!

keys-neoliminal                                                                              neoliminal – Flickr.com

February 2, 2009 Posted by | Buyers, Economy, Mortgage, President Obama, Sellers, Uncategorized | , , , , , , , , , | Leave a Comment

A Road to Happy House Hunting!

Now that the holidays are over – President Obamais officially in office – interest rates are still low and more homes are coming onto the market, while some that are currently on have been reduced – I wish all that are looking to purchase… A Road to Happy House Hunting!

Please keep in mind that the road to finding your home may seem windy at times…

twisted-road-mikael-miettinen                                                     mikael miettinen – Flickr.com

and it may seem to go on forever… with no happy ending in sight…

road-to-the-mountains-thejourney19721                                              thejourney1972 – Flickr.com

But in the end, when you’ve found a home, and begin a new chapter in your life, I’m sure you’ll look back and realize it was all well worth it!  After all… roads lead to homes – right?

planet-house-visulogik                                                           visulogik – Flickr.com

Won’t You Be My Neighbor?

January 22, 2009 Posted by | Buyers, First Time Home Buyers, Fun Post, Home, Uncategorized | , , , , , , , , , | Leave a Comment

Surviving this Weak Economy

coin-kevindooleykevindooley – Flickr.com

Surviving this weak economy can be frustrating and seem almost impossible.  When gas was almost at double where it is today, many of us drove less, consolidating our errands.  If I knew I needed to pick up one of my kids from an after school activity, I would hold off going to the market and post office until it was closer to the time of having to swing by the school. We should STILL continue to do this now.  Although, I’ve ALWAYS done this – I have also ALWAYS taught my kids to SHUT THE LIGHTS OFF when leaving a room – take a bag lunch and snacks from home to not only save, but eat healthier.  Put an extra blanket on their bed since a cooler, night temperature kicks in at around 8pm.  Do not waste, recycle paper, warm up left overs and shop sales – remembering though, to always ask, do I really NEED that?

stretching-your-dollar

Here are some saving ideas from my most favorite on-line sites:

stock-up-ninjapoodlesNinjapoodles – Flickr.com

A few more ideas -

  • Decide what is a “Luxury” and what is a “Necessity”
  • Shut the television off and have “Fun time” with the kids – Have them read books, color, build with Llegos or blocks. Make it fun by “hiding” something (like an Easter Egg Hunt) and have the kids try to find it – the first to do so, picks the next activity!
  • Have a “Pasta and Salad” dinner night once a week – really inexpensive and filling!
  • Cut back on your laundry’s drying time by hanging some of your clothes.  Even if it’s just a few pieces from every load.  
  • Rent a movie, pop your own popcorn, buy a gallon of wine (inexpensive and lasts much longer than just a bottle) and STAY HOME!  This will also save gas!
  • Trim your family’s hair, including your pup’s and give yourself a manicure.
  • USE COUPONS! and stock up on Sale Items at the Grocery Store.
  • Save those PENNIES!  Every day empty your pockets and put your change in a piggy bank or decortive bottle.  It adds up quickly!
  • Cut your own lawn
  • Make your own PIZZA. Maybe have your family pick their own personal pizza choice and make individual pizzas – I like mine with peppers – my youngest son with extra cheese, … – Yum!
  • Looking to REFINANCE or purchase a HOME to take advange of the current low interest rates and tax break?  Call at least 3 different lenders – all may have totally different mortgage packages – being careful with how many times they run your credit within a certain allowed time.
  • Go to bed 1/2 an hour earlier every night – Getting more SLEEP is healthy for you AND since your lights, TV, computer are being shut off earlier – the savings will add up at the end of the month!
  • Call your insurance agent for info on raising your deductibles on your car and home insurance to save.
  • Contact your cell phone carrier and go over your usage to see if you need all those minutes and ask if they have better packages.  Also, call your cable company and inquire on the “Bundle” packages – combing your TV, phone and internet can save you $$
  • and…  don’t forget to call your Credit Card companies to see about assisting you in lowering your interest rates.

  Remember, EVERY LITTLE BIT HELPS!

coins-joe-shlabotnikJoe Shlabotnik – Flickr.com

Inspirational Quote - “I, not events, have the power to make me happy or unhappy today.  I can choose which it shall be.”  – Groucho Marx

January 13, 2009 Posted by | Economy, Finance, Good Morning America, HGTV, Money, Oprah, Rachael Ray, The Food Network, The Grocery Game, Uncategorized | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment

Do You Want to Buy a House?

Do you want to buy a house??  If your answer is YES – Great!!   Interest rates are FANTASTIC – Inventory is HIGH – AND – most sellers are ANXIOUS!

country-house-visulogikvisulogik – Flickr.com

So, if your interested in a single family, multi – family home, condo or townhouse – I’d be happy to assist!

townhouse-sailorbillsailorbill – Flickr.com

December 29, 2008 Posted by | Buyers, Connecticut, First Time Home Buyers, Home, NY, Uncategorized | , , , , , , , , , , , | Leave a Comment

2009 Could be the Best Year for Home Buyers

FrontDoor.com has a fantastic article about how 2009 could be the best year for home buyers!

dollar1

Some of the items mentioned is the home buyers tax credit, the increase of inventory of homes on the market and the decreasing interest rates.  It reads that interest rates are in the high 5′s and that there may be more reductions.  Well, there was a decrease in interest rates.  Just today, Carey Hollander with Patriot Home Funding said interest rates for a 30 fixed mortgage are in the LOW 5′s for someone with good credit.  For more info on Patriot Home Funding <CLICK>

arrow

To read the entire article “The Last Year for Best Buying Opportunities – Considering buying a home? Take advantage of low prices and interest rates in 2009.” <CLICK HERE>

Happy House Hunting!

house-2

December 13, 2008 Posted by | Buyers, First Time Home Buyers, Home, Money, Mortgage, Real Estate, Realtor, Uncategorized | , , , , , , , , , | Leave a Comment

While House Hunting, Stop & Smell the Flowers

With Homes For Sale’s inventory being high and interest rates low – WHAT A PERFECT TIME TO BUY!  With so many homes currently on the market, you can start in the morning and end in the evening, viewing home after home in different neighborhoods – towns and states!

notebook

If your out viewing homes, please make time to take in as much as you can.  Take notes on EVERYTHING, including the pluses AND minuses of each home.  With the  sellers permission, you may also be able to take your own photos or video.  Since many homes have little or no interior pics, I have taken my own footage to send to my clients via e-mail so they could share desired homes with family members and friends. 

camera

With homes that my buyers are considering to purchase, these photos will help them with ideas of where to place furniture, color schemes and even help answer questions like, “How many window were there in the master bedroom?”.  Couples often argue over whether or not there was a fireplace in the living room!    

Also,  with now being Spring, maybe take the time to smell the flowers along the way! 

   

 

 

 

 

 

 

WON’T YOU BE MY NEIGHBOR?

May 7, 2008 Posted by | Buyers, Spring, Uncategorized | , , , , , , , , | 1 Comment

   

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