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CT Mortgages - As a self-employed borrower are there any additional documentation requirements?

CT Mortgages - In this video, Sandra A. Montanari discusses additional documentation requirements for self-employed borrowers. The Diamond ...

30-year mortgage rate drops again

"The decrease in borrowing costs are a nice slice of relief for prospective buyers looking to get into the market this summer," Sam Khater, Freddie Mac's chief economist, said in a statement. "Some are undoubtedly feeling the affordability hit from swift price appreciation and mortgage rates that are still 67 basis points higher than this week a year ago."

Home buyers should "lock in at the lower rate," said Lawrence Yun, chief economist at the National Association of Realtors, noting that the Federal Reserve is expected to raise interest rates twice this year and another two times next year. "I think if the buyer is hesitant seeking lower rates they will be disappointed. The general direction will be higher and higher interest rates."

Meanwhile, mortgage applications decreased from a week earlier, according to the Mortgage Bankers Association (MBA). The market composite index - a measure of total loan application volume - declined 4.9 percent. The refinance index dropped 4 percent, while the purchase index fell 6 percent.

Chicago has more underwater homes than any other US metro area, report finds

“Places like Chicago — where I don’t think the negative equity is primarily the result of the boom and bust years — is the result of much deeper, long-standing structural issues,” said Aaron Terrazas, Zillow senior economist. “You look at where negative equity is in Chicago and it is on the South Side, heavily concentrated in neighborhoods where there is very deep poverty and larger issues around employment and wage growth that in many respects are more challenging than just waiting out a recovery or for home values to rise.”

Issues around job growth add to Chicago’s negative equity problem, which Terrazas said also affects potential homeowners. As homeowners with underwater residences hold on to their homes longer (instead of selling for a loss), their inability to sell holds down the inventory of homes on the market. People who are underwater but not at risk of foreclosure can't afford to list their house for sale, because they'd have to bring money to the table to make up the difference between the sale price and what they owe on their mortgage.

where can i find info or help on getting a mortgage in florida. I love in ct and i want to move to florida,?

I have 3 properties in ct that i am in the process of puting them up for sal enext week, a condo i own (no mortgage), my condo that i owe 65k but its worth 110k,and a 3 family i owe 120k but worth about 225k.


You need to contact a mortgage consultant who is able to do business in FL. They will be able to perform a basic interview to verify and analyze your situation, and make recommendations on what programs would be best for you.