This week has been more proof of the volatility of the market. Rates dipped earlier in the week and then bounced up with the news of the Fed Fund cut. However, they are only slightly higher than last week yet will continue to trend downward.
Many of you are getting information regarding declining market loan-to-values. I am continuing to do research on the policy changes and here’s the latest. If you are a borrower putting down 20% on a full documentation purchase and the maximum loan-to-value for the program is 95% you do not have to reduce the loan to value for the borrower by 5% it remains a 20% down payment. If you have any questions about current or future deals please contact me.
SOME INVESTORS HAVE NO DECLINING MARKET POLICY. It just depends on the bank and the borrower’s profile.
There is news that the conforming loan amount currently set at $417,000 will be temporarily increased to $750,000. See the article by clicking below.
Looking for Canadian financing? I’ve got the programs to get your home purchased fast.
I’m never too busy for any of your refinancing or purchase referrals! If you are interested in refinancing a loan now may be the time. Have a great weekend!