A refinance may help lower your monthly mortgage payment. Especially if you got your mortgage during a period of higher interest rates. Just a couple of years ago a 6.5% rate was a decent interest rate. If you would have refinanced earlier in this year, you could have saved 2% points on that loan. Now refinance rates in TN are nowhere near those historic rates. However, if you have a lot of debt (i.e. Credit Cards, Student Loans, Car Loans, etc), you may consider a refinance to consolidate those debts. It could free up some money for you and relieve a little stress.

A refinance TN may also be helpful to capitalize on a shorter mortgage term. For example, lets say that you have a 30 Year Mortgage from a few years ago. Now your kids are all moved out (hopefully for some!) but you need to start planning for retirement. While increasing your contributions to your retirement accounts, you also decide to refinance your current mortgage to a 15 Year Fixed Loan. Because rates are lower for all mortgage types, you were able to convert to a 15 Year Fixed and the increase in payment only amounted to a cup of Starbucks coffee a day. Imagine what investing a few more dollars a day to your home mortgage could do for you. In this scenario, they are saving about 10 years of mortgage payments. How much are you paying now? Would that amount applied to a retirement account help you?

Going forward with a refinance.

I have given you a few reasons why a refinance may make sense. I know that everyone’s situation is different. Let me help you with yours. Tennessee mortgage refinance rates may be increasing soon.

Complete a mortgage application or if you prefer, call me at 615-942-2210.

The current state of the mortgage and real estate market in Tennessee is a lot better than national average. I created an article a few weeks ago titled; “ If you are waiting on home prices to go lower, you may have missed the boat“. In this article I explained how Tennessee real estate is probably the most stable in the nation. If you looking for real estate in Tennessee, now may be the time to proceed with a purchase. Tennessee mortgage rates are currently stable but they are at there highest point all year. With Tennessee mortgage rates rising and Real Estate prices possibly increasing, now may be the time to pull the trigger.

What are the Economist predicting?

Most economist predict that the current recession that we are in will end this year. Coupled that with the $8000 first time home buyer tax credit (if you haven’t owned a home in 3 years) expiring at the end of the year. You window of opportunity will close in 6 months. Current Tennessee mortgage rates and with the influx of people looking to buy homes, we may see an increase in housing values sooner than 6 months. Based on some reports, real estate Clarksville Tennessee is up over 9% compared to this time last year. Compare that with Middle Tennessee real estate which is off by 6% compared to last year.

What should I do now?

Go ahead and get pre-qualified for a mortgage in TN. This will give you an idea in where you stand and how much you should qualify for. This will also allow you to place an offer on a property right away. In some markets, sellers are getting multiple offers. If you have a pre-approval in hand, this may make all the difference in getting that new home. If you are asking can I help you? I sure can! To begin, go to my pre-qualification worksheet. I will contact you as soon as possible to get further details of that new home. We should know how much you qualify for on that call.

I look forward to hearing from you and remember, don’t wait for change, create it!

Are we putting the cart before the horse, you may wonder? The answer is no. When you start searching for your new home and you discover a house that you absolutely love, you should want the ability to place an offer instantly. Your bid will be taken seriously by the seller. It could place your offer on the top of all others. If not, you may lose the offer to some other buyer who has a pre-approval in place.

Getting Pre-Approved First For Your Mortgage in Tennessee

OK you have found me on the Internet; the next step is the pre-approval. Don’t confuse this with pre-qualification. Pre-qualification means having a lender make an educated guess about how much of a mortgage you qualify for based on your submitted income and assets. Pre-approval is a little more detailed. It means essentially that you have all of the proper documentation, credit, and income. Based on what was submitted to the Mortgage Banker, your file should be eligible to go through underwriting for final approval or denial. This when I will provide you with a pre-approval letter. Now you are ready to begin the search for a home! No confusion about how much you can afford and you will have the ability to strike when the iron is hot.

To begin the process of getting a mortgage in TN, go to my pre-qualification worksheet. We could know within an hour what you could be approved for.

How does your score effect your rate?

Mortgage products from lenders for the most part are the same. Every lender has to conform to a certain set of guidelines. One on the main guideline is your credit score in relation to risk. The more risk a lender has to take, the more they are going to charge you for the money, plain and simple. That is true in any lending environment. Automobile loans, credit cards, & yes home loans. Take a look at some of the things that could affect your rate:

1.Your Down Payment
2. Your Total Household Debt
3. Refinancing To Take Out Equity Of The House
4. Your Credit Score

Nashville, no matter what your financial situation is or credit score, finding the best home loan with the lowest possible interest rate can save you thousands of dollars over time. Regardless of your credit situation, bad credit (to read more about a bad credit loan:
Nashville loans: What can you do if you have bad credit and are looking for a home loan) or good credit, there are programs that we can tailor to your specific needs and offer you an interest rate and payments to fit your budget.

A pre-qualification is a must in searching for and making an offer on a new home. By knowing what you qualify for, you can have an idea of what your mortgage payment will be. You will be a little more prepared. To get started, fill out a pre-qualification worksheet. We will know in hours what you qualify for. I look forward to hearing from you.

What should I look for with Nashville Home Loans?
The key is to work with a lender that is abreast of all of the changes in this environment. Just recently someone found my website on the internet and found an article that I wrote months ago. He was looking for a Nashville home loan and was told that since he had a Bankruptcy and a Foreclosure 5 years ago that he couldn’t qualify for a new Nashville mortgage. Not only was the other lender incorrect, I found out that the client had a Chapter 13 and he was able to qualify for a home within 13 months of starting this bankruptcy. Not only did he loose out on the lowest interest rates that we seen in our lifetime, the dream home that he was looking at for 5 months has finally been sold. Don’t just take anyone’s advice. As they say, “always trust but verify.”

Lets get started!
I am looking for a few good men (or woman) for my new project. I am looking to help 30 new homeowners in the next 3 months with Nashville home loan. If you are looking to buy a home or just to refinance to get a lower rate, give me a call to see what we can do for you. You can also fill out a pre-qualification worksheet to see how much you qualify for. Help me with my new goal and why not save some money in the process. I look forward to hearing from you soon!

Call me at 615-942-2210.

Are home prices getting lower?
Now may be the time to make that new home purchase. According to the National Association of Realtors, the national averages of home prices are down 15% compared to this time last year. However, in April existing home sales were up almost 3% compared to March 2008. So home prices are down but more people are looking to buy a home. I decided to do a little more research for her, I was curious to know what the numbers were for the Middle Tennessee area. According to Zillow, a leading online real estate portal, home prices in Nashville are down 6% compared to last year at this time. Here are a couple of other cities: Brentwood down under 4%, Antioch and Murfreesboro down below 6%, and Franklin is down 8% over last year (to learn more about your city go here: Zillow). Based on the data, it shows that home prices in Middle Tennessee are more stable than the rest of the country. It also shows that being that we are headed to the traditional buying season, prices may be headed upwards. Also, interest rates are slowly headed upwards compared to the all time lows from a few months ago.

What should I do?
Find that new home now! I heard an old sayings long ago, if you just heard about a good deal, you are probably too late. I wouldn’t wait until I hear more positive news about the real estate market to move forward. All arrows are pointing towards that way. If you wait until the Government to release the data showing that the economy is getting better (sometimes 45 to 60 days after the fact), it may be too late. She took my advice and now she is looking to close in the next 30 days.

Are you looking to buy a home? Start out by filling out a pre-qualification worksheet to get an idea of what you qualify for. If you prefer, call me at 615-942-2210. Now is a better time than any to make that investment.

Rural Development Loans In Tennessee

A Rural Development Loans in Tennessee will allow for a mortgage of up to 102% of the asking price of a new home. This is the true no money down home loan for Tennessee homebuyers. This loan doesn’t require Private Mortgage Insurance (PMI). It does however have an upfront mortgage insurance premium that will be applied to the loan (your loan amount will increase by 2% to cover the cost of the insurance). You will have to qualify based on income for this program. Lastly, these programs are primarily used for homes that are for sale not in the city limits. Mostly rural areas. Give me a call to find out if the area you are looking to move into qualifies for this program.

$8000 First Time Homebuyer Tax Credit Used to Pay Back a Second Mortgage

A homeownership organization here in TN has announced a program that will allow a person to use the $8000 First Time Homebuyer Tax Credit for a downpayment on a new house. You could use this program in conjunction with a FHA Loan. Instead of coming up with a 3.5% downpayment, you can apply for a second mortgage for this amount. For example, if the new home you are looking to buy is for $200,000, the minimum downpayment would be $7,000. You would either have to pay this out of pocket or get a gift from a family member. If you don’t have either, this second mortgage could step in to make this downpayment. All you would need to do is pay the second mortgage back when you receive your Tax Credit.

This article only touches the surface on how to get No Money Down Home Loans in Tennessee. Since everyone’s situation is unique, it would probably best to contact me for more details about these programs. Also, go to my website to pre-qualify for your new home. This will give you a good starting point in your search. My number is 615-942-2210.

You could be possibly moving into that new home in as little as 30 days!

When searching for Smyrna, Tn homes for sale, you must find out if the property is a foreclosure. You will also need to know how the long the property has been on the market. The longer it has been on the market the more likelihood that the seller will negotiate with you. If is very important that you have a Real Estate Agent who is well versed in bank owned and foreclosed properties. They should be able to get you a list of homes that will fit your budget. They should also be able to let you know which homes have the most equity compared to the sales price. Buying one of these homes will allow your investment to obviously appreciate even faster. We all know that housing prices are not going to stay low forever. With a glimmer of hope in the economy, your window may already be shrinking. So now is the time to move forward with buying that new home.

What should you do first?

Get pre-qualified! This will help determine how much home you can qualify for in Smyrna. You can begin this process here on my site. Click on this pre-qualification link to get started.

Buying a Smyrna, Tn homes for sale could be the best decision that you have ever made. If you are looking to move now, give me a call at 615-942-2210. If you are serious about moving now, you could possibly move into that new home in 30 to 45 days. Lets get started now!

Even with the declining home values creating chaos among sellers, owners, and mortgage professionals, first time homebuyers have been the only bright spot during this economic trouble. Because of these convenient sets of events, first time homebuyers in Tennessee are receiving an abundance of homes for sale to choose from. Being that it’s a buyers market, a seller in Goodlettsville will probably be more willing to negotiate on the price or even pay some of your closing cost. When you consider the Federal Tax credit of $8000, an investment in a new home in Goodlettsville or anywhere throughout Middle TN, couldn’t come at a better time.

Even with a slight glimmer of hope in the latest economic news from the Federal Government, the era of historic interest rates and bargain basement home prices may soon be over. With consumer confidence increasing, more and more people will soon be in the market for a new home. We will not only see home prices slowly starting increase, interest rates will more than likely increase as well. The Fed’s are currently keeping interest rates low to create more buying and selling of homes. Another reason the Fed stepped in was for current homeowners to lower their interest rates with a refinance. With a positive economy, Uncle Sam will retreat from buying mortgage debt and interest rates will rise.

Now is the time to capitalize on the opportunities in front of you. A wise man once told me a secret about investing, “if someone tells you about a good investment, you are already to late”. The window to buying Homes for sale Goodlettsville,Tn are now. To get started, click on this pre-qualification link. This will let you know how much you qualify for on your new home. Armed with this, you can begin to search for that new home in Goodletsville or any area throughout Tennessee. If you prefer, give me a call at 615-942-2210. Let get started now!