Mortgage expert and friend of Red Phoenix Consulting Joey Orrey chats it up about buying and how them there rates are!
Mortgage Lending and Credit Repair (sort of)!
Since I am a guest of “The Credit Guy”, I thought I should write about why the two are great together. Here is the realty, we need each other!!! I need credit repair to help my clients (and myself) and he needs me to bring him more clients! Actually that is wrong; Credit repair guys should not enjoy being busy UNLESS they actually care about clients like John does!!!
OKAY, off my soap box now and putting him on the pedestal (he does that enough himself). LOL.
Rates are still great today! IN FACT, they are approaching the low levels of last year (remind you that they were 40 year lows then). A reference that I use quit often is the affordability index when talking to clients. We have seen this number dip down to 14% in the metro area last year according to the national association of realtors. Well, the number is 14.8% right now. What does that mean to you as a potential home buyer? It means that less than 15 percent of your income is needed to buy a home in today’s market. That sounds great, BUT, what does it mean? It means that it is the best time to buy a home in the last 20 years as it is the lowest it has been in that time fram!
It is also a great time to look at your entire mortgage needs. For example, if you have a 30 year fixed mortgage at 5.5% with 20 or more years left on your loan, look at refinance options and chop of 5 more years off and drop the rate to 4.25% on 15 year. Looking to send you kid to college? How about borrowing at a fixed cost of 4.25%? there are numerous thing you can do when you take advantage of borrowing at less than 5% interest rate for 30 years.
if you would like a free consultation on your mortgage needs, please let me know!
Joey Orrey
NMLS #324154
Mortgage Loan Originator, Rubicon Mortgage Advisors, LLC
1300 Lagoon Avenue, Suite 250, Minneapolis, MN 55408
O (612) 821-7596
C (612) 414-4809
F (612) 294-3462
joeyorrey@rubiconmortgagellc.com
As always if you need me, I'm always around!
john@redphoenixco.com
Nice, well written and informative post. It has been helping people with less than perfect mortgage obtain personal loans.
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