Texas Home Lending News



It's not uncommon to see advertised mortgage rates well OUT of line with reality.

Whether the advertised options will be available for your transaction depends on too many variables to make the rates accurate. Chances are that some—if not all—of the following criteria will be considered before a "real" rate quote is offered.

Loan Parameters
Loan Size/Amount

Loan Types:
Fixed/Adjustable
Amortized/Interest Only
Conforming/Jumbo
FHA/VA/USDA
LTV/CLTV/HCLTV
Cash Out or Rate & Term
Closing Date/Lock Duration

Documentation Type:
Full Doc or Alternative
Stated or No-Income

Income Parameters
Housing Ratios/Debt Ratios
Time in Position
Time in Career

Type of Earnings:
Salaried or Self-Employed
Seasonal vs Steady
Salary/Overtime
Bonus/Commission
Social Security
Alimony/Child Support
Rental Income
Interest/Dividends/Gains

Property Parameters
Type of Property:
Single-Family
Multi-Family
Detached
Condo/Co-op
PUD

Market Status:
Stable
Appreciating or Declining

Condition:
Repairs Needed
Well, Septic, etc.

Occupancy:
Primary
Second Home
Investment

Bond & MBS Markets
Rates are ever changing.

Credit Parameters
Credit Scores/Inquiries
Late Payments
Collection Accounts
Judgments
Tax or Other Liens
Bankruptcy/Foreclosure
Short Sale/Deed in Lieu

Asset Parameters
Liquid
Semi- or Non-Liquid
Own Funds
Gift or Grant
Borrowed Funds
Seasoned or Un-Seasoned
Cash or On Deposit

As you can see, many factors impact your interest rate. When things are not black and white, a quote can prove unreliable until a credit check, a property appraisal, title search and even thorough underwriting of your application have occurred.

The good news is that this is what we do every day, and I will be happy to assist you through the process. Together, we will prevent unpleasant surprises and discover what is really available for your unique situation.







Shawn Smith
MLO/Broker | NMLS # 863501

(214) 396-3650 | Mobile: (817) 706-8619
shawn@sublimefinancial.com

www.sublimefinancial.com
Sublime Financial, LLC
14785 Preston Rd Dallas TX 75254





NMLS # 1134044
Posted by Shawn Smith NMLS#863501 on March 9th, 2022 2:53 PM
 
 
Here’s how the rate news could affect your mortgage.
If you follow the financial news, you know that the Fed recently had one of their scheduled meetings to discuss and comment on policy.

First, who is the Fed?

The Federal Reserve Board (the Fed) is the central banking system of the U.S. The Fed supports the U.S. economy with monetary policy.

The Fed indicated it could start raising rates in 2022. These are charges for overnight loans from bank to bank and will often indirectly impact mortgage rates.

The Fed also expects to begin tapering its asset purchases “soon,” as early as its next meeting in November. The Fed began regular large-scale purchases of U.S. Treasuries and mortgage-backed securities in March 2020 to help lower long-term interest rates and stimulate the economy.

How will this affect your mortgage?

While neither of these actions directly impacts mortgage rates, either can have the result of pushing rates higher, even in advance of actual Fed rate policy changes.

What should you do?

Consider that today’s low rates aren’t likely here to stay long term. If you are thinking of purchasing or refinancing, it may pay to act soon. As well, if you’ve been thinking about purchasing a second or investment home, a recent change has made rates and availability of agency backed financing better. 

Thank you for allowing me to provide you updates on industry news. Please reach out if I can answer questions or help you or those you love with financing (or refinancing) a home.
 
 





Shawn Smith
MLO/Broker | NMLS # 863501

(214) 396-3650 | Mobile: (817) 706-8619
shawn@sublimefinancial.com

www.sublimefinancial.com
Sublime Financial, LLC
14785 Preston Rd Dallas TX 75254

Posted by Shawn Smith NMLS#863501 on September 27th, 2021 3:29 PM


Today’s rates  

New Home Purchase  or    Refinance  

Conforming                        Interest rate     

30-yr fixed                         3.125%- 3.200%

Rates are not static, they often change throughout the day. 

If another lender offers a lower rate, there's a buy-down involved.

Often not mentioned when quoting the lower rate  

Actual rates vary based on Loan Amount, Middle Credit Score, DTI, Term

Today’s rates based on a purchase 740 middle score, conforming loan, detached, primary residence, non-self-employed, detached, primary home


Shawn Smith
MLO/Broker | NMLS # 863501

(214) 396-3650 | Mobile: (817) 706-8619
shawn@sublimefinancial.com

www.sublimefinancial.com
Sublime Financial, LLC
14785 Preston Rd Dallas TX 75254

NMLS # 1134044

Posted by Shawn Smith NMLS#863501 on September 1st, 2021 11:03 AM

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