The Week In Review (August 13, 2007) : What To Watch For

After all the volatility and talk of a global crumble, all of the major U.S. stock indices posts gains last week.  It just goes to show you what a strange roller coaster ride we’re all on.

Last week, the market bounced its way through:

1. The Fed’s press release stating that inflation is still a concern
2. Central banks around the world injecting gobs of cash into the global economy
3. A French bank halting withdrawals in several funds until the “true” value of the assets can be determined
4. Bleak outlooks from several high-profile U.S.-based lenders

And none of those items were based on scheduled economic data releases.

This week, by contrast, hosts a bevy of economic growth predictors that will hit the wires.  Continuing with today’s Retail Sales report, mortgage rate shoppers will get no rest from the recent see-saw action. 

Tuesday and Wednesday feature six releases between them, Thursday holds three, and Friday is capped with the University of Michigan Consumer Sentiment survey.

Until mortgage bond risk is re-valued by Wall Street, though, expect the data’s normal importance to be somewhat muted.  Rates should respond more to external factors like the ones we saw last week.

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For assistance with your mortgage needs, please call Tony Gallegos.

Tony Gallegos
The Georgia Mortgage Cicerone
(404) 519-4399 (cell)
fagallego@yahoo.com (email)
To learn more about Tony Gallegos <Click Here>

(Image courtesy: Pacific National Exhibition)

Home Financing Options – Part 4 of Buying Your Home

 Which Option Is Right For You?

Today it seems there are as many different types of home financing as there are different types of homes. While loan choices are normally a good thing, consumers need an experienced and ethical mortgage professional to help them navigate the confusing and muddied waters of mortgage financing.

Why? Because on the surface some loan programs sound like the best thing since sliced bread, yet lurking under the hood are loan terms or costs that are not apparent nor the appropiate fit for you and your family.

While I strive to provide one of the widest selections of home financing options available in the industry, your particular needs are first and foremost when formulating a mortgage plan for you.

Whether you’re all set to buy or just trying to figure out what you can afford in your new location, I can help. Wether you are moving across the street or relocating from the west coast to Georgia, I can help you make all the right choices. My team can customize a mortgage to your unique needs, drawing from one of the industry’s broadest selections of products.

In addition to all the conventional loan options, we offer special programs that overcome obstacles such as credit issues, hard-to-document income, or lack of savings. Whatever your financial profile, as a Professional Mortgage Planner with 20 years experience, my team can help you capitalize on purchase opportunities through faster approvals, higher loan-to-value (LTV) ratios, and streamlined processing. We also have an attractive menu of innovative programs that include new construction financing, specialized options for homes that require renovation, and programs designed specifically to benefit your particular needs.

Payment Alternatives

Several decades ago, lenders required homebuyers to provide a 20% down payment as protection against the possibility of the homebuyers defaulting on their loans. The invention of mortgage insurance for home purchases made with less of a down payment means that today’s lenders can offer a variety of low and no-money-down options.

That’s useful for a range of buyers such as:

• First-time buyers who don’t have the funds to invest.

• Buyers who want to keep their investment whole and use less cash upfront for their purchase.

• Buyers who need to use their cash for renovations or other move-related expenses.

Whatever your financial reasoning, there are a number of ways to finance your down payment. I can work with you to structure a home financing package that takes into consideration your total financial outlook.

Previous posts in this series:

• Hunting For Your New Home – Part 1  
• Choosing The Right Real Estate Agent – Part 2
• Getting The Right House – Buying A Home – Part 3

______________________________

For assistance with your mortgage needs, please call Tony Gallegos.

Tony Gallegos
The Georgia Mortgage Cicerone
(404) 519-4399 (cell)
fagallego@yahoo.com (email)
To learn more about Tony Gallegos <Click Here>