From Premium to Discount on 30-Year Mortgages In the aftermath of the 2008 financial crash, funds for jumbo mortgages virtually dried up. At a time when rates on conventional, 30-year mortgages were fetching around 4.5%, jumbo rates were 6% or 6.5% — if you could find such products at all. Today, that premium and scarcity has been replaced by...Read More
Getting a Mortgage? Focus on the A.P.R., Not the Interest Rate One of the least remarked — but most important — numbers in residential real estate is the difference between a loan’s “face” interest rate, and what’s called the “A.P.R.,” or annual percentage rate. The latter captures the interest rate plus all the costs and...Read More
More Seller Financing — & More Flexible Terms Sellers Terms: Cash, Contract for Deed, Contract/Deed w/Assumption, Conventional, DVA, FHA –MLS listing I’m seeing lots more listings like the one above. If you don’t speak “Realtor,” here’s a quick glossary: Contract for deed: Buyer makes monthly payments to the Seller, who retains title; title transfers when...Read More
