Brexit = lower rates? | 15 Questions To Ask A Lender

15 Questions To Ask A Mortgage Lender.

Summer 2016 News & Updates

How Do You Pick A Mortgage Lender? Solely By Interest Rate? Experience? Products? Privacy Of Your Information?

Brexit...What Does It Mean For US Rates?

Flags of the USA and the UK Divided Diagonally - 3D Render of the American Flag and British Flag with Silky Texture

QuickenLoans has been doing commercials saying rates are the lowest in a long time!
Banks are screeching about lower rates...come and get it consumers!
Rates are indeed a bit lower, but need to be put into perspective.
Mortgage rates have only come down about 1/8% after Brexit.
However, the equities markets have been getting crushed! That seems to be where all the action is, but mortgage rates are not in free fall as the media seems to suggest.
It is always worth it to contact me and discuss refinancing, especially if your current rate is 4.5% or higher.

Rates...Can They Really Go Any Lower?

I found this 220 year chart on an investing website called The Capital Spectator. I included the chart below and it can also be seen by clicking here .

It is fascinating to me to see long term data like this, to put today's financial numbers into perspective. It seems to me the average interest rate level in this country is about 6.5%, which is a long way from where we are now.
Interest rates were in the mid 6's around 1788 when the US Constitution was ratified! So it is good to put today's rates into a big picture perspective.
Can they go lower? The chart seems to suggest we are at or near a bottom.

Top 15 Questions To Ask A Mortgage Lender or Broker!

1. What is the interest rate quote they are offering?

2. What lender fees are associated with getting the mortgage?

3. Are there any prepayment penalties?

4. Are there any discount points being charged?

5. How many days will the interest-rate be locked in for?

6. Does the interest-rate quote take into account your exact credit score, the property type, the exact sales price and loan amount, as well as the settlement date?

7. How long has the mortgage loan officer been in business?

8. Has the mortgage loan officer held any other positions in the company or industry?

9. How long has the mortgage company that the mortgage loan officer works for been in business?

10. What steps does the loan officer and their company take to securely store your personal documents?

11. Does the company sell your data to anyone?

12. How does the loan officer and their company ensure secure document transfer?

13. What happens to your personal documents after mortgage closing?

14. What are the company's turnaround times for appraisal, underwriting, loan approval condition review, and overall settlement dates?

15. How will they keep in touch with you and report status during the transaction?

Click here to read all the details on this topic.

Top Originators In The US!

1. I was a top loan originator in the U.S. last year.

2. I ranked #126 as reported by National Mortgage News.

3. Click here to see the list.

Click here to read the whole blog and see all details.

How Does An Appraisal Work?

Ever wonder what an appraisal looks like?
Or do you want to know more about how an appraisal works?
For more details on appraisals watch the below video:

Is Your Title Company Checking For Construction Permits?

I had a client recently who bought a house where the seller did not disclose that they had done some construction work recently but neglected to get all the proper construction permits. This has caused problems for the buyers after closing and the title company they chose did not check for open permits.

When you buy a new home, ask your title company if they check for open permits!

Click here to read the whole blog.

How Do Gift Letters Work?

If you plan to get a gift from a family member when purchasing your next home there is a lot to do in order to properly document that.
The gift giver needs to complete the lender's gift letter.
You need to document the money flowing out of the gift giver's account.
Then you need to document the inflow into your account as the gift receiver.
For more details on this watch the below video:

Top Rated Loan Officer!

Check out my reviews on Zillow and Yelp. And more....

Brian Martucci | 1st Mariner Mortgage | 202-588-2400 | brian@getloans.com | NMLS# 185421

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