Wednesday, December 14, 2011

How Small Changes Make Big Difference

It's no secret that mortgage rates are at record lows. But according to many so called "gurus", it only makes sense to refinance if  you can save x or y amount of dollars.  Don't let all the guru noise or internet babble discourage you from checking things out for your own situation.

For example, consider someone who just purchased a home or refinanced their $200,000 mortgage several months ago  They might have a mortgage rate of 4.75%. Many "experts" would say its not worth it to refinance unless you can lower your rate by a full 1% without paying points or closing costs.  However, what if they paid $3,000 in points and closing costs to reduce the rate to 3.75% and bumped up thier mortgage balance to $203,000?   Here is wat thier situation might look like:

Old Payment = $1,043.29

New Payment = $940.12

Payment Savings = $103.17

If they saved the $103.17 @ 4.5% they will have:

$6,782     in    5 years
$15,271   in    10 years
$25,897   in    15 years
$39,210   in    20 years
$76,698   in    30 years

WOW !!

If this represented your situation, and you listened to all the "gurus" telling you not to bother refinancing, you would actually LOSE up to $76,698! Do yourself a favor. Put that money back in your pocket by calling me today!  Although I am not promising that you will save exactly this much money, I will help you save as much money as possible in your situation.

Don Lambert
CEO
Email: don@accutrust.biz
www.MyOwnMortgage.com
Accutrust Mortgage Inc
1107 Pleasant Street
Fall River MA 02723
(508) 646-6650
NMLS # 2409, MA-MB2409, ME-CSO7814, NH 10349MBR,
VT-1050MB, CT-14666, RI-20047100LB

Friday, December 2, 2011

SHOPPING AROUND FOR A MORTGAGE?

Heres the scoop on how do to it right.

Always make sure you are working with an experienced mortgage professional.  The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way.  But how can you tell?

Here are four simple questions your mortgage person must absolutely be able to answer correctly.

1) What are mortgage interest rates based on?  The only correct answer is mortgage backed securities or mortgage bonds, not the Fed or the 10 year Treasury Note.  While the ten year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions. Do not work with a mortgage person who has their eyes on the wrong indicators.

2) What is the next Economic Report or event that could cause interest rate movement? A professional mortgage person will have all this at their fingertips.  To receive an up-to-date weekly
economic reports and events that may cause rates to fluctuate, contact one of our Certified Mortgage Planing Specialists today.


3) When Bernanke and the Fed "change rates". what does this mean.. and what impact does this have on mortgage interest rates?  The answer may surprise you.  When the Fed makes a move, they are changing a rate called the "Fed Funds Rate" This is a very short-term rate that impacts credit cards, credit lines, auto loans and the like.  Mortgage rates most often will actually move in the opposite direction as the Fed change, due to the dynamics within the financial markets.

4) What is happening in the market today and what do you see in the near future? If a mortgage professional cannot explain how how Mortgage Bonds and interest rates are moving at the present time, as well as what is coming up in the near furture, you are talking with someone who is still reading last week's newspaper, and probally not a professional with whom to entrust your home mortgage financing.

Be smart..Ask questions..Get answers!
More than likely, this is one of the largest and most important transactions you will ever make.  You might only do this four or five times in your entire lifetime but Certified Mortgage Planners do this every day. Its your home and your future.  Its our profession and our passion.  We are ready to work for your best interest.


Don Lambert
CEO
Email: don@accutrust.biz
www.MyOwnMortgage.com
Accutrust Mortgage Inc
1107 Pleasant Street
Fall River MA 02723
(508) 646-6650
NMLS # 2409, MA-MB2409, ME-CSO7814, NH 10349MBR,
VT-1050MB, CT-14666, RI-20047100LB

Friday, November 18, 2011

Welcome back to the future of Mortgage Banking

The more things change, the more they stay the same. That's why Accutrust Mortgage Planners takes the old fashioned approach to retail, online Mortgage Banking. Our new online mortgage site, www.MyOwnMortgage.com allows the consumer to take control of the mortgage application process, yet still receive the services and expertise of a dedicated, licensed Certified Mortgage Planner to guide them through the often tedious and confusing process of obtaining a home mortgage. Our loan status system allows the consumer to monitor the processing of the loan. They can view the status log, and message the loan processor and Certified Mortgage Planner, as well as upload and view all documents required to process the loan, securely, online. However, our value add is that they can still pick up the phone and call their Certified Mortgage Planner for advice, feedback and assistance. And, we pride ourselves on being a lifetime mortgage advisor to our clients, long after the loan is closed. We stay in touch and offer advice to our customers with any and all matters relating to mortgages and home ownership in general. Our Certified Mortgage Planners take a "loan officer for life" approach to customer service, we offer a relationship, not just a service.
Apply online at: www.MyOwnMortgage.com

Don Lambert
CEO
Email: don@accutrust.biz
www.MyOwnMortgage.com
Accutrust Mortgage Inc
1107 Pleasant Street
Fall River MA 02723
(508) 646-6650
NMLS # 2409, MA-MB2409, ME-CSO7814, NH 10349MBR,
VT-1050MB, CT-14666, RI-20047100LB