Your 3 Year Old Loan is a DINOSAUR!!!!

Your Payment is Too High!!!!!|

The Loan you you used to Purchase your home is at a higher rate than Today’s rates….If you have PMI, you may be able to Eliminate it! Most Loan Programs have Lower or Eliminated PMI versus just 3 years ago.

FHA PMI on a 225,000 is about $100 less than it was 3 years ago…but they didn’t lower YOUR PMI…did They!!!????

We are at Opportunity Time!—Rates are Low…PMI is Vanishing!!!

I want to look at YOUR Dinosaur!!!…Let’s Talk!!!

Mortgage Rate Gift Horse—Last Legs????

30 year Mortgage Rates continue to dip below 4%…. FHA Mortgage Insurance has been slashed….
…PSST!!!!! “The Gettin’ is Good!!!!!!” Buy it!!! Refinance it!!!! Save yourself some Money—- This will not last!!!

Several “Fed Experts” have peppered the market with statements that the FED is just a month or so away from it’s ascent to Market Based Rates. Pressure will build as the Feds over nite lending rates to banks begin to push Prime and Other Bank rates Higher. That pressure will lift Mortgage Rates Meaningfully.

Who can Save now?…who can Beat the Rate Rise? Do you Have:

1. PMI on your Loan???…. do a 3 minute consult with a Good Mortgage Expert
2. An FHA Loan done in the past 3 years????—- Rates AND PMI are Lower—-it may be possible to eliminate your PMI Totally!
3. 2 Loans on your Property????— think of combining…call a Mortgage Expert
4. More than $10,000 of Non Mortgage Debt— think of consolidating!!!

Eric Raffle

267-939-0765
eric@raffleteam.com
www.raffleteam.com
Global Mortgage, Warminster Pa
Licensed PA and NJ
NMLS135042

Rates Under 4%… Lock now!…ask questions Later!!!!

They’re at it again!!!!! The Fed?…The Banks? NO!!!!! The Bad Actors in this world are doing all they can to help YOU lower your Mortgage Rates.

Simply put, bad things in the world cause a “flight to safety” with investment dollars—-those dollars flood the Bond and Mortgage Security Markets in search of SAFETY. They will accept low returns to Hide Money and keep it safe.

The result is LOWER RATES.

Ebola…World Financial Markets…Stagnant Business Growth….. The world at War!!!! It’s sad…. It’s grim to know that it helps you as a borrower. It’s TRUE!!!!

Lock now! Refinance with a lower rate and eliminate PMI. Consolidate. It’s a tough world and it can get harsher. Quick planning and action now put you in a better place

Eric Raffle
eric@raffleteam.com
Fast. Smart. Kind.
267-939-0765
nmmls 135042

AFFORDABILITY— Opportunity for Home Buyers!!!

Today’s word is AFFORDABILITY!!!!! The “$300,000 Home Buyer” is seeing huge savings compared to the market of just 5-6 years ago….more than $250 per month in many cases!

Housing Prices have stabilized below Market Highs—Mortgage Rates are 1% and More below the rates at those Market Highs. Suburban Home Prices have stabilized at about 85-90% of “Pre-Crisis” levels. Your “mileage” may differ depending on specific homes and neighborhoods.

A FAMILY BUYING A 1ST HOME OR “MOVING UP” IS PAYING LESS FOR THE HOME, AND THEY’RE PAYING LESS FOR THE MORTGAGE AS WELL!!!! The 10% down buyer is buying a home for $300,000 instead of $330,000. They need $3000 less cash. They will borrow $270,000 instead of $297,000. They will borrow that money for 1% LESS than they would have at Market Valuation Highs!!!

Call Me–Let’s do the Math!

Eric Raffle
Global Mortgage
www.raffleteam.com
267-939-0765
nmls135042

Discovering Affordability: “Ownership Math for Home Renters”

$1200 per Month Renters will have identical monthly cash needs when they buy a $210,000 home…even though the monthly payments are $200 more.

$1300 per month Renters will have a similar experience with $230,000 Home Ownership……. $1600 Renters will have equal monthly cash flow when they purchase a $270,000 home—even though the Mortgage Payment is $350 MORE!!!!!

MAGIC? NONSENSE?????? NO—- you need to understand Home OWNERSHIP MATH.

Tax deductibility of Mortgage interest and Property taxes allow home owners to provide themselves with a “Take Home Pay Raise”. In anticipation of your reduced taxes you can adjust your present Payroll Taxes and provide yourself with substantial real time cash flow–a Pay Raise!!!

Yes— a $1400 Mortgage payment with added monthly income is LESS than your present $1200 Rental Payment. Yes it is!!!!!!

Additional Math— a Mortgage Payment includes Amortization— a very “kind” Forced savings plan. Assume 1% per year…$2000 dollars.

The new home you buy?— a very modest assumption of 1-2% growth in Market Valuation adds an additional 2000-$5000 per year of WEALTH for the average Fist Time Home Buyer.
The real reason to own a home is YOU…your family…your life. Your Knowledge of Ownership Math makes it possible.

Eric Raffle
267-939-0765 nmls135042
eric@raffleteam.com

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New Lending Rules….. The Market is ?????

New Leadership at the Fed….Changes in Origination and Underwriting… Modest Volume with Higher Market Prices…. We enter 2014 with a number of dynamics that point to stable, modestly rising rates and a growing assortment of Mortgage Products.

Some of the impacts may involve BOTH rising Loan Origination costs for borrowers and expanded availability of Non-Prime Lending Products. YES!…as strange as it sounds, we’re “sorta-kinda” seeing the market accommodating BOTH Regulatory and Market Needs. Perhaps that will be a good balance.

Home Buyers and Sellers will confront a 2014 Market with hopes of Strong demand and strong Inventory. Rising Rates have already pinched defined “affordability”….. they also may have an impact on the Pricing Strength for Sellers. The round up of the 2013 Market was that rising rates scared away a some new buyers. The result was a moderation of Volume of Sales WITH Rising Prices. It’s an “Odd Stew”….. Low Volume Markets of all Asset Classes tend to be skittish and poorly defined. That’s that’s best explanation I can offer for the 2013 Market.

“Refinancers” began the year with spectacular low rates that dove to the low 3% range. Speculation about the end of Quantitative Easing drove rates quickly to the mid 4% range. Rates have continued to bobble between lows of 4.125% and Highs of 4.75% throughout the late summer and fall. While next years proposed QM Mortgage rules will pin borrowers against a tougher and more expensive refinance market, there is also talk of further expansion of the Affordable Refinance Programs from Fannie and Freddie. There is growing political will and sentiment to drive the benefit of Low Fed Rates to Existing Conventional Mortgage Borrowers. We have interesting times ahead!

Expertise, Product Availability and Energy to Market will differentiate lending sources in 2014. Many Banks have moved away from Direct Origination. Those that have remained as Direct Originators have gained good expertise and experience with their on-line efforts. They have struggled with their local “point of contact”. The Broker Market has regained a foothold in serving Local Markets, most especially with Home Buyers. The Location, Expertise, Product Offering and Market Energy of Local Mortgage Brokers is powering a resurgence of Mortgage Brokers who offer better market rates and service versus their larger but less nimble competitors

Eric head shot medium

Eric Raffle
267-939-0765
Smart. Fast. Kind.

NMLS 135042
Global Mortgage
755 York Road, Warminster Pa. 18974

Global-Mortgage-Network-250px

Women as Buyers and Borrowers

A recent Huffington Post Article cited the fact that MORE Single Women than Men are Buying Homes!

(http://www.huffingtonpost.com/2013/07/10/single-women-buying-homes_n_3573801.html?utm_hp_ref=tw)

This is as much a commentary on the relative financial power that Today’s Women possess as it is a commentary on the life needs that all people face and address. For all sorts of reasons, Women are both buyers and borrowers. They are growing lives and responding to needs. They are relocating families that they have started alone and they are buying homes for their families when they are “re-beginning” as singles. There are many existing scenarios in which Women are refinancing family homes that had been owned with partners and spouses. Whether Buying a new Home or Refinancing an existing home, these situations are an increasing trend for Women.

The “post divorce” scenario is one which requires great sensitivity and knowledge….often the “former spouses” are in process toward final resolution when the property agreements are being executed. It’s a great time for very Specific skills and experience to assure that any Real Estate Transfer and New Mortgage Financing are done in a manner that supports the agreed upon goals and timeline of BOTH Parties….. It’s about getting it done!!!!!

We Can Help!

Eric head shot medium

Eric Raffle, nmls 135042
267-939-0765
eric@raffleteam.com
Global Mortgage LLC

$200 per Month is Worth HOW MUCH?….and the Easy Questions….

A small FORTUNE!!!!!! That’s how much!!!

More Precisely, about $50,000 over 15 years… 5% return @200 per month= WEALTH

How do you find it so that YOU can put it to work?

4 easy questions:

First, your Mortgage Statement(s)

1. 5% rate or above?
2. Mortgage Insurance?
3. More than one Mortgage?

…and…

4. More than $10,000 of Credit Card Balances?

If you answer YES to any of these questions WE SHOULD TALK. We’ll ask more questions….. The beginning questions are simple,,,,the next questions are more complex.

I can Help!

Eric Raffle
Smart. Fast, Kind
267-939-0765

Crystal Ball on Real Estate and Finance!!!!!!….October 2013

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First, an Update on Rates:

30 year at 4.375%….  250,000 loan is $1248

15 Year at 3.375%…..250,000 loan is  $1771

Today’s Rates are above the Spring Time lows…..but they are almost a half point better than they were 2 months ago.
Let’s Look Ahead!

The Real Estate Market has been moderately active. The $150,000-$300,000 market has been generally good….. home prices have stabilized and a bit up, but they remain “very reachable” for buyers who are new to the market, especially given the low rate stability of the Mortgage Market.

The financing outlook points toward some tightening to underwriting standards by Conventional Lenders. This will be offset by an expansion of Non-Conventional Lenders and programs entering the Market.  Economist are virtually Unanimous in predicting rate rises of .75% t0 1.5% over the intermediate economic cycle over the next 12-30 months.  These rate increases are based on an end to “Fed Easing Policies” toward true Market Rates on Long Term Capital.

Possible Rate Increases are assumed to be moderate and gradual…. the projection of Mortgage Rates to the 5%-6% range would seem to reflect a normalization to market that remains at the low end of the historical rate cycle. A moderate rise is thought to soften the impact on the Real Estate Valuations while retaining strong affordability for Real Estate Buyers.

 

Eric Raffle

Global Mortgage

267-939-0765

 

Fast. Smart. Kind.

Buying…Selling…HOPING?

MY Nightmare?… your home is for Sale and you haven’t done a full Pre-Approval. That means that you’ve “discussed” your next steps, but you haven’t shared the necessary info to be sure that you’ll be able to BUY a new home after you SELL yours—- Credit, Income and all Asset Docs….Tax Returns, Paystubs, EVERY SINGLE PAGE OF ALL BANK STATEMENT.

Have you done That?…are you HOPING it all works out?

Let’s get together and Make Sure!

Eric