Monday, November 19, 2012

Mortgage Programs for 620 and Up FICOs

Our local go-to guy on mortgage approvals,  Ken Lombardi,  just posted this useful update on his FB page:
Today, stocks are up, so it looks like rates may edge up. After election thet dropped, but now it looks like we may retreat from the lows, so act fast. Dont forget November is when the bond market fiscal year ends, thats why rates rise in Nov. and Dec. They are taking huge profits they made this year!. Important, new data shows average person closing on a real estate transaction has a 760 credit score. The 620-660 market is not taking advantage of low rates and the best time in history ever to buy!!
They may think they cant get a loan, because banks want 700 or better in most cases. We have special programs for people down to 620 scores, lower for VA. Call me for details, Yes there are even no money down programs where closings costs are paid. Buying or refinancing.
We are a full service Mortgage Banker with our own funds, we can help!! 973-632-3487.
Get informed and know how to get prepared
As if to prove his prediction, Zillow 30 year rates, in column at right, have today just jumped from 3.2& to 3.27%.

Just tell him Geoff sent you!

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