Mortgage Blog

I got lots of emails from the new home buyers
recently, even though at this slow holiday season.

For new home buyers, please read the following
three links:

1)Everything about the Home Purchase Process & Loans.
2)The closing Cost.
3)The Loan Process.

Some general ideas about the RE market in 2011.
1)The value will not go up. It may go down another
5% to 10% in some areas.

2)Higher Rate is "your friend" for the purchases.
On average, 1% higher interest rate will have
the price 10% lower to get the similar monthly
payment.

3)Slow holiday season is almost over, I saw some
early birds post more listings these days.

4)Focus more on the contract, not the rates.
It's easy to save $5000 on the purchase price,
and very hard to save $5000 on the interests.
And if you lock higher rates on purchase, you
can still refi later with lower rates.

5)The closing cost will be different for
different cities, different contracts etc.

6)My website rates are usually for 400k(for
conforming) refinance. The rate for purchase
is case by case. That's why I asked a lot of
questions as well.

Good luck for your purchases and get a good deal
in the year of 2011.