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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 ...

Mortgage rates stand pat as federal shutdown creates uncertainty about economy

This pause has caused an uptick in activity in the housing market.

"Empowered by temporarily lower rates and a strong job market, would-be home buyers are taking action, driving mortgage applications higher and hopefully absorbing some of inventory increases from the last few months," said Danielle Hale, chief economist for Realtor.com. "But there are still some wild cards on the horizon, including Brexit-induced uncertainty, potentially slower global economic growth, and a slower moving [Federal Reserve], which could keep rates low."

Bankrate.com, which puts out a weekly mortgage rate trend index, found that nearly two-thirds of the experts it surveyed say rates will remain relatively stable in the coming week. Greg McBride, chief financial analyst at Bankrate.com, is one who expects rates to hold steady.

"Hard to see bond yields and mortgage rates rising amid a government shutdown that is a mounting economic drag and lacking some important economic data points," McBride said.

Federal shutdown creating mortgage victims

Though Fannie and Freddie operate under federal government conservatorship and use federal guarantees, they are not government agencies, and they've conducted business as usual. To the extent that they've been touched by the shutdown — such as through the non-availability of tax return transcripts the IRS routinely provides lenders to verify applicants' incomes — both companies have adopted work-arounds to keep the loans flowing.

The situation has been starkly different for prospective buyers who live in the small towns and exurbs surrounding virtually all major cities. Many of them are in the process of financing homes with mortgages backed by the U.S. Department of Agriculture (USDA), which offers exceptionally attractive terms — zero-down payments and favorable interest rates. But for these borrowers, the shutdown has been a nightmare. The USDA loan program, which has provided well over 100,000 home mortgages per year recently, has been in total lock-down. Scheduled loan closings have been put on hold, and no new applications are being processed.

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.