If you have not been out of the country for the past 30 days, you have probably heard about the demise of the mortgage industry as we know it. Well, don’t believe everything you read, or hear. While it is certainly true that lending guidelines have become stricter, and some of us might say, more sane, there is plenty of mortgage money available for those looking to purchase a home or to refinance their present mortgage.
Of particular interest to many of us homeowners, interest rates, especially for loans of $417,000 or less, have dropped dramatically over the past few months. Even for loans in excess of the maximum Fannie Mae and Freddie Mac loan limit of $417,000, very competitive interest rates are still available. You see, it turns out that the news of the death of the “JUMBO” loan was premature. While this part of the mortgage market has been the most severely impacted, jumbo monies are certainly still available, and at attractive rates.
As a lender and a broker, HomeFirst Mortgage is uniquely situated to ride out the turmoil in the mortgage industry. Because we can deliver our loans to dozens of the largest banks in the country, the failure of one institution simply causes us to redirect our loans to another lender. We have continued to close loans without interruption through all that has transpired in the past few months and we will be here until the last lender turns out the lights.
So, if you, or someone you know, are thinking about buying a new home, or if it is time to refinance your mortgage to a fixed rate loan or to take some equity out of your property, please give us a call. I look forward to having an opportunity to talk with you, once again, about your mortgage financing, or simply to talk to you aboutthe state of our industry. I hope that the service we have provided in the past will encourage you to consider us again for all of your mortgage needs.
Thank you for your time. Have a great Fall!
Best regards,
Rick Andrews
HomeFirst Mortgage Corp.
207 S. Alfred Street
Alexandria, Virginia 22314
Ph. (703) 549-3400
Direct (703) 560- 9595
About HomeFirst Mortgage Corp.
HomeFirst Mortgage Corp. is an independently owned and operated mortgage brokerage based in Alexandria, Virginia. Offering access to real estate financing for purchase, refinance, home equity, new construction, commercial and FHA/VA clients, HomeFirst Mortgage Corp. is licensed to originate loans in 24 states with more than 60 wholesale lenders. This broad access to capital provides HomeFirst Mortgage Corp. with an unparalleled flexibility to meet the needs of almost any client in almost any situation.
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