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Guest Blog: Choosing Your Mortgage Lender

by Mark Benton, Mortgage Planner

These days you have many options for mortgage financing. Many web-savvy folks will apply right online or call an 800 number to apply. Many people check on financing while surfing the web for properties. 

My advice…Buyer beware! Do you really know who’s on the other end of the line? Is it someone in Kansas who’s not even licensed in Vermont? Do they know about Vermont-specific closing costs, like the Vermont Property Transfer Tax and what percent the buyer pays? Are they using local appraisers who are familiar with the specific market in which you’re buying?

If you ask your local realtor or attorney who to choose for your mortgage financing, they will strongly suggest working with a lender who lives and works in your area. They all have horror stories about the long-distance lender who made the process difficult for their buyer(s) and, consequently, the seller(s).

You may think, “Well, it’s more convenient for me to call after work and get pre-qualified. I can’t call my local lender at 8:30 at night.” But you would be surprised at how flexible your local lender can be. As a local mortgage lender, I realize that it is often difficult to meet during the work day and you need to meet after office hours. I’m always willing to meet on evenings or over the weekend. Often I will gather a lot of your information over the phone before we even meet in person.

I will work closely with your realtor and closing attorney to make the process go as smoothly as possible, minimizing any chance for a last-minute surprise! I live and work in the community. My rates and closing costs are among some of the best and most competitive in the market. I’m easy to reach and you can contact me anytime during the process with questions and I will call you back! I’m here to make your home-buying process an enjoyable one. My number is (802) 863-0403 x 223

Mark Benton is a Mortgage Planner with Regency Mortgage Corporation in South Burlington, Vermont (NMLS 94675). He, his wife, and two children live in Essex Junction.

Money.CNN.com; Mortgage rates dip to new all-time low

by Nancy Jenkins, CRB, CRS
Thirty year fixed rates are at historic lows, the lowest since Freddie Mac started its survey in 1971. Fifteen year fixed rates are the lowest we have seen since June 2003.  What does that mean to the local market? Since our market has fallen to prices we have not seen in several years, the affordability of homes and condos has improved dramatically in the past few weeks. When rates start to fall, mortgage payments decline and buyers can afford a larger mortgage for the same monthly payment. Usually when mortgage payments fall to these low levels, it can signal the bottom of a real estate market. With a great selection of homes available now, we are here to help you with your home purchase. Call Nancy Jenkins Team at 802-846-4888. 
-Nancy

Mortgage rates dip to new all-time low

The 30 year fixed rate fell to 5.01%, its lowest level since Freddie Mac started conducting its survey in 1971.

By Larissa Padden, CNNMoney contributor
Last Updated: January 8, 2009: 11:32 AM ETNEW YORK  (CNNMoney.com) -- Mortgage rates fell to another all-time low, declining for the tenth consecutive week.

Government sponsored mortgage lender Freddie Mac said Thursday that fixed rates on 30-year mortgages averaged 5.01% for the week ending Jan. 8th. That's down from 5.10% last week and well below 5.87%, which is where the rate stood at this time last year.

The 30-year fixed rate mortgage has not been lower since Freddie Mac started conducting the survey in 1971. (read more)

CNNMoney.com, Mortgage rates see big drop

by Nancy Jenkins, CRB, CRS
Good news for mortgage rates…..CNNMoney.com is reporting long term rates have hit their lowest level since the beginning of the year. This brings the current 30 year fixed rate down to a 6.18% national average.
 
If you been on the fence about making a Vermont Real Estate purchase, this could be your opportunity. If so, give me a call, 802-846-4888.
 
-Nancy


Mortgage rates see big drop
Long term rates hit lowest level since first of the year; 30 year fixed hits 6.18%.

November 22 2006: 1:55 PM EST

NEWYORK (CNNMoney.com) -- Mortgage rates continued their downward slide reaching their lowest point since the first of the year on slower growth in the market, according to a survey released Wednesday.

The 30-year fixed-rate mortgage averaged 6.18 percent for the week ending Nov. 22, down from 6.24 percent, according to Freddie Mac's (Charts) Primary Mortgage Market Survey. A year ago, the 30-year averaged 6.28 percent. The 30-year peaked for the year in July, at 6.80 percent. (read more)

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Nancy Jenkins
Nancy Jenkins Real Estate
140 Kennedy Drive, Suite 102
South Burlington VT 05403
802-846-4888
Fax: 802-846-4899