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Know your Credit Score! Mortgage Lenders base Loan Approvals on it.
A Poor score will cost you - The higher your credit score - the lower your mortgage rate.
Excellent 750- 850....Good 660- 749....Fair 580- 659...Poor under 579

Freddie Mac released the results of its Primary Mortgage Market Survey
The 30-year fixed-rate mortgage (FRM) averaged 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.

15-year FRM this week averaged a record low of 3.86 percent with an average 0.6 point, down from last week when it averaged 3.90 percent. A year ago at this time, the 15-year FRM averaged 4.58 percent.

Buyers Save Money and Time when Pre Approved for Mortgages.
Many real estate buyers 'guess' how much they can afford. They do extensive searching only to find they can't get approved in their 'guessed' price range. Even before you've found a home, condo or particular piece of real estate, you can apply online for a free preapproval on a mortgage loan.

If you're preapproved, you receive a letter telling you that the Mortgage Company will lend you up to a certain amount to finance your real estate, subject to a property appraisal and other stated conditions.

A pre approval means that you can look for homes or condos more confidently. By arranging financing in advance, you can act quickly when you find the right property. You'll know exactly how much you can borrow, and the letter shows sellers and real estate agents that you're ready and able to buy. You're in a stronger position to negotiate Real Estate asking prices down with a loan pre approval. 40% of Real Estate contracts fall thru because of financing problems with mortgages. When a yard sign or MLS Listing says Contract Pending .other buyers and Real Estate Agents pass it up. Sellers realize that and may not negotiate too far from the asking price. A recent concern of many sellers is whether the home will appraise at the amount set forth in the contract. If the contract is contingent upon financing, the purchaser may have the right to terminate the contract and receive the refund of the down payment

PITI - Don't waste time searching for Your Dream Home and then Gamble that you can Afford it.
Remember to approximate the taxes and insurance to get the full PITI (Principal, Interest, Taxes, Insurance) payment. Divide the yearly taxes and insurance by 12 months for the average per month

You must have a Loan Approval to make an offer
on a Foreclosure

Real Estate For Sale

Foreclosure Condos

Foreclosure Homes

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Tampa Bay Condos

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Naples Attractions and
Naples Florida Homes

Orlando Attractions and
Orlando Real Estate

Loans Pre Approval

Mortgage Information

Real Estate Info

Tax Appraisers

Some Loans are very
risky Exotic Loans

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FINANCIAL NEWS
20-year mortgages cut interest significantly -August 2010 - Buyers with the ability might consider a 20-year fixed-rate mortgage instead of the traditional 30-year. A $200,000 mortgage with a 30-year term and an interest rate of 4.75 would have a monthly payment of $1,043 and the total interest over the life of the loan would be $175,600. The same mortgage with a 20-year term at 4.5 percent would have a monthly payment of $1,265 with total interest over the life of the mortgage of $103,670.

Many people shop for real estate based on the monthly mortgage payment they can afford.
U.S. houses are more affordable today. Since last year at this time, the change has been huge. The mortgage payment on the typical home is now is 20% less expensive than it was a year ago. Last year, the median U.S. home would have cost about $230,000, with approximately 7% in interest on the mortgage. With a 20% down payment that makes it a $1,200 monthly mortgage payment. Today, the median price for a home is $200,000 which is a $30,000 difference from last year and the mortgage rates are down to 6%. Between the lower price and the lower mortgage rate, you'd be paying less than $1,000 a month on your mortgage now for the same house that would have cost you $1,200 last year.

Refinancing? Know your Credit Score and what you qualify for. When it comes time to Financing you'll avoid un-necessary surprises. Up to 60% of people who check their free credit report find errors. You can get a free credit check if you've been denied credit in the last 60 days. 3 credit bureaus Equifax, Trans Union and Experian collect information from major creditors. Your credit report lists all credit history for the last two years; liens and judgments for 7 years; bankruptcy 10 years.

July 30, 2008 The Senate passed and the President signed a landmark housing bill to shore up the nation's housing finance system. The bill contains billions of dollars in loan guarantees, a tax break for first-time home buyers and many other provisions. The rescue plan extends an unlimited line of credit to the two mortgage-finance giants Fannie Mae and Freddie Mac for 18 months and gives the Treasury the authority - also for 18 months - to buy Fannie and Freddie shares if the Treasury deems the companies’ capital to be inadequate. Many people shop for real estate based on the monthly mortgage payment they can afford. Search Your Monthly Payments on $200,000 worth of Real Estate Free Mortgage Calculator

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FHA to finance at risk loans News Update
A poor credit score can cost you money, knowing what to do to improve your score can help you save money!

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