Archive for the Interest Rates Category

Annual Percentage Rate (APR) vs Interest rate in Home Loans!!

May21
Faron Young - Play Now Pay Later APR versus interest rate: The advertised rate is the one used to calculate your mortgage payment. Borrow $100,000 at 5% with a 30-year term, and the payment is $537. But an advertised rate tells you nothing about the cost of the loan or if it’s a good deal. Suppose you’re offered two loans. Both have a 5% rate, but one costs $1,000 and the other costs $4,000. They’re obviously not the same! What is APR? The annual percentage rate (APR) on a loan includes some of the costs involved in procuring the loan and is meant to provide the consumer w… Read More

The Mortgage Loan Process…slowly, slowly…step-by-step!!!

December11
"Step By Step" - Whitney Houston I have written (and whined) often about the mortgage process and how it has been come somewhat arbitrary, demanding and often ridiculously restrictive! I've endured the process personally and, of course, share the experience with clients on a daily basis! However, getting your "ducks in a row", setting your expectations and taking a huge dose of patience always helps! Here are the basic steps of the loan process (if only it were this simple).... Steps of the Loan Process Application - Via phone, in person or online - Borrower submits loan che… Read More

Is It Too Soon to Consider a Mortgage Refinance on Your Home?

October5
Hey Ocean! - Too Soon When should you consider refinancing?  Some people believe they shouldn't refinance more often than once every two years. Some used to say to refinance if your interest rate could drop 2%.  Really the only determining factors shoul… Read More

September 2012 Portland Metro Real Estate Update!!!

September14
"A Summer Song" - Chad & Jeremy SEPTEMBER 2012 PORTLAND METRO REAL ESTATE UPDATE!! There's a tinge of Autumn in the air and the kid's are back in school!  Do you know where your real estate goals are?  Welcome to the September 2012 Real Estate Update.  We are fast approaching almost a year of steady recovery in our local real estate market.  We dropped again last month to 3.9 months of available inventory and, actually, all measures of real estate activity are positive when comparing August 2012 with August 2011!!  Our Portland Metro market closed 2,311 real estate transaction… Read More
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