Planning for Success: First Time Home Buyer Program

I designed "Planning for Success Program" specifically for First Time Home Buyers!

During our first consulation meeting I will review the Credit Report in great detail (it really is ALL ABOUT credit scores right now!) and will provide a personalized Analysis of what needs to be done in order to improve the credit scores! This analysis will help minimize the interest rate, points, and closing costs on the future mortgage loan!

All First Time Home Buyer's I meet with get a FREE 3 Bureau Credit Report and I teach them how to read the report and then we talk about down payment and closing cost basics.
As our meeting continues, it becomes the "Getting Ready to Buy Program" which includes:

"Shopping for a Home" and why a Pre-Approval is better than a Pre-Qualification!
"The Home Loan Process": Here I give them the EXCELLENT 490 page book, "101 Questions Every First Time Home Buyer Should Ask", authored by Ilyce R Glink
"Planning for a Successful Closing" outlines the 19 steps of the homebuying process!
"Realtor Endorsement" and the value they bring to the success of the transaction!

Call or e-mail me to set up a "Planning for Success" consultation meeting!

First Time Home Buyer Thank You

"Thank you, Thank you! Thanks for taking the time to go over everything with us and helping us better our credit and to achieve our goal of owning a home for our family. Thanks again!" Kira and Dan S.

I helped First Time Home Buyer's Dan and Kira with my FREE "Planning for Success Program"!

During our first consulation meeting I reviewed their Credit Report in great detail (it really is ALL ABOUT credit scores right now!) and gave them a personalized Analysis of what they needed to do to improve their scores and minimize the interest rate that will pay on their mortgage loan!

All First Time Home Buyer's I meet with get a FREE 3 Bureau Credit Report and I teach them how to read the report and then we talk about down payment and closing cost basics.

As our meeting continues, it becomes the "Getting Ready to Buy Program" which includes:

1. "Shopping for a Home" and why a Pre-Approval is better than a Pre-Qualification!
2. "The Home Loan Process": Here I give them the EXCELLENT 490 page book, "101 Questions Every First Time Home Buyer Should Ask", authored by Ilyce R Glink
3. "Planning for a Successful Closing" outlines the 19 steps of the homebuying process!
4. "Realtor Endorsement" and the value they bring to the success of the transaction!

Alert to LOCK! 8:43 a.m. 8/22/08

As happened yesterday, we have a stochastic crossover in the Bond Charts created by the oversold status of Bonds this morning and this coupled with Ben Bernanke's speech (which is happening right now) where his is talking about inflation (bonds hate inflation) and the stock market is on a rally (up 180 points this morning, which is taking money out of the bond market), I am recommending locking before lenders come out with a re-price for the worse this morning.

Thank You!

As always, I wish to thank my clients who have been kind enough to refer business to me. I appreciate the opportunity to provide excellent service to your family, friends, and co-workers! Marty Qualls

Facts and Figures: Auto Fuel Efficiency

According to the Department of Energy, the following are currently the most-fuel efficient cars:

1. Toyota Prius City: 48 HWY: 45; 2. Honda Civic Hybrid City: 40 HWY: 45; 3. Smart Convertible City: 33 HWY: 41; 4. Toyota Yaris City: 29 HWY: 36; 5. Mini Cooper (Manual) City: 28 HWY: 37; 6. Toyota Corolla City: 28 HWY: 37; 7. Honda Fit City: 28 HWY: 34; 8. Nissan Versa City: 26 HWY: 31.

And just for fun, here are the least efficient: 1. Lamborghini Mucielago City: 8 HWY: 13; 2. Bentley Azure City: 9 HWY: 15; 3. Bentley Arnage RL City: 9 HWY: 15; 4. Ferrari 612 Scaglietti City: 9 HWY: 16; 5. Aston Martin DB9 City: 10 HWY: 16; 6. Bentley Continental GTC City: 10 HWY: 17; 7. Mercedes Benz E63 AMG City: 12 HWY: 18; 8. Audi S4 Avant City: 13 HWY: 20.

Quote of the Day 8/22/08

"One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man."
– Elbert Hubbard

Rate Watch 8/22/08: Cautiously Floating

Bonds have found a ceiling of support at the 50 day moving average and we will wait until Ben Bernanke's speech today on the condition of the world financial markets to see which way it takes Stocks and Bonds. With no major reports out today, Bond's will most likely take their direction from Stock's. I will let you know if there is any change in direction in this very tumultuous market we are experiencing.

Rate Watch 8/21/08: WILD!

After the Bond market Improvement yesterday, profits are being pared away this morning by traders and, depending on when my investors came out with price sheets this morning, we are on the verge of a reprice for the worse. State Unemployment claims were released this morning at the highest level since 1991 (usually a help to bonds, but the numbers are being discounted because of a new Federal Program reflected in the numbers), and Bonds are currently in an 'overbought' position which makes the market ripe for a reversal and worse Bond pricing within the next couple of hours. I will be watching VERY closely and will alert you of an Alert to Lock if it is necessary.

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Rate Watch: Cautiously Floating

Bonds have continued to battle the 50 day moving average overhead for the past 3 trading sessions and today is the same news. This tough layer of resistance has only been cracked 2 times in the past 3 months, but with the stock market stumbling quite dramatically at mid day, there has been a flight to the "safe haven" of bonds and values have improved just above the 50 day moving average. Be prepared for a change of direction, however, as this volatile market can turn on a dime.

Average Mortgage Rates 8/18/08

NATIONAL OVERNIGHT AVERAGES
Conventional Loan: These averages include 1.75% discount point, origination fee of $795, $400 appraisal, Title Fees, assumes 20% equity, Loan size of $160,000, Credit Score of 720.
FHA Loan: .35% higher in rate, 1.375% discount point, $795 origination fee, $150,000 Loan size, 600 credit score, 3% equity, $400 Appraisal, Title Fees

30 yr fixed mtg
6.40%

15 yr fixed mtg
5.92%

5/1 ARM
5.89%

Rate Trend Index 8/15/08

Aug. 14 - Aug. 20, 2008
It was almost an even split this week. Just a little over one-third of the panelists believe mortgage rates will rise over the next 35 to 45 days. Another 31 percent think rates will fall, and 31 percent believe rates will remain relatively unchanged (plus or minus 2 basis points).
Panel:
Up:38%
Down: 31%
Unchanged:31%

About Rate Trend Index: The Rate Trend Index surveys experts in the banking and mortgage fields to see if they believe mortgage rates will rise, fall or remain relatively unchanged. For the mortgage index, the panel comprises mortgage bankers, mortgage brokers and other industry experts who provide residential first mortgages to consumers.

By The Numbers 8/18/08

• As 8/15/08, the National Average price of unleaded gas has fallen for 29 consecutive days.
• Prescription drug costs have increased 87% in the past 5 years.
• Monthly exports by U.S. Businesses increased by 95% from June 2003 ($84B) to June 2008 ($164B)

Rate watch: Cautiously Floating

Mortgage Bonds battle a tough overhead ceiling of the 50 day Moving Average and with no reports out this morning, I recommend floating to see how Bonds react to the movement of Stocks, which are a bit higher this morning. With the volatility in the Mortgage Industry, knowledge and insight is more valuable than ever, which is why I monitor the market throughout the day and keep you informed of changes that impact you.

Did You Know?

U.S. paper currency isn't made of paper - it's actually a blend of cotton and linen.

Buyer Thank You

"Marty did an excellent job of keeping me informed on the status of my loan and the best part of working with Marty's Company is Marty!" James L, Loan#17066-003

Buyer Thank You

"Marty and his processing team were the best part of the loan process! There is nothing that you can do to improve the service that we received." Lando and Michelle M., Loan#17844-003-00

Buyer Thank You

"We would recommend Marty to others and Marty was really nice!" Amy L. and Tyler L., Loan#17941-003-00

Buyer Thank You

"Marty did an excellent job in simplifying the loan process for me. What I liked best about Marty is that we closed VERY FAST!" Tom S., Loan#19372-002-00