Ascot Mortgage Services
Mortgage News
Get Into A Home Of Your Own
Even if you have limited savings, our low-down-payment programs can help you become a homeowner.
Even if you have limited savings, our low-down-payment programs can help you become a homeowner.
Read more Refinance Mortgage Rates Are Low!
Quick! While mortgage rates are low. NOW is the time to look into refinancing your home.
Quick! While mortgage rates are low. NOW is the time to look into refinancing your home.
FASB Ruling Hits the Mark
- Bonnie Raitt. Better believe that last week's news gave us plenty to talk about.and even a few things to smile about. Here are the highlights.
- Bonnie Raitt. Better believe that last week's news gave us plenty to talk about.and even a few things to smile about. Here are the highlights.
The Truth About Mortgage
- Obama Urges Americans to Refinance Mortgages
- Mortgage Rates Rise Off Record Lows
- Wells Fargo Mortgage Business Drives First Quarter Earnings Record
- Bank of America Refinancing Under Making Home Affordable Program
2009 FHA Temporary Loan Limits -Provided by the American Recovery and Reinvestment Act
On Feb. 17, 2009, the President signed a new stimulus bill - called the American Recovery and Reinvestment Act of 2009 - into law.
Obama's Refinancing Plan Could Repair an Ailing Market IMPORTANT COMMERCIAL LOAN UPDATE!
- EFFECTIVE MARCH 1, 2009.
On February 6th, 2009 FNMA announced their plan to allow up to 10 financed properties per borrower again.
- EFFECTIVE MARCH 1, 2009.
On February 6th, 2009 FNMA announced their plan to allow up to 10 financed properties per borrower again.
Dec. 31 (Bloomberg) -- U.S. mortgage rates dropped. -- U.S. mortgage rates dropped to the lowest in more than three decades as the government stepped up efforts to revive the housing market.
Treasury to Reduce Interest Rates on Jumbo mortgages became more expensive and harder to come by as the nation's credit crisis deepened. That might be starting to change.
Reverse Mortgages
Home Financing Information
Reverse Mortgage is a unique loan that enables senior homeowners to convert part of the equity in their homes into income without having to sell the home, give up title, or take on new monthly payments.
Home Financing Information
Reverse Mortgage is a unique loan that enables senior homeowners to convert part of the equity in their homes into income without having to sell the home, give up title, or take on new monthly payments.
Links
Please visit these links to become more aware of the current mortgage process:
www./ml-implode.com
www.thetruthaboutmortgage.com
Please visit these links to become more aware of the current mortgage process:
www./ml-implode.com
www.thetruthaboutmortgage.com
Mortgage Broker or Mortgage Banker?
About Mortgage Brokers
A mortgage broker is a conduit that will fund loans using another investor or banker's money. Mortgage brokers buy their rates at wholesale or discount prices and sell them to the consumer at retail value. A mortgage banker is an entity that funds loans from its own funds and either retains the loan for servicing or sells the loan to an investor through the secondary market.
Ascot Mortgage Services, LLC and working through Donna Clements' affiliation with a mortgage bank, is both a mortgage banker and a mortgage broker utilizing both options to ensure we are able to provide the best financing options at the lowest rates possible. About Mortgage Bankers
A mortgage banker is a lender that uses its own money to finance your mortgage. The banker may keep the loan in its own portfolio of similar loans, or may sell the loan to another source.
Real Estate Loans
If our money is not as competitively priced as other mortgage lenders, we are able to broker real estate loans directly to the bank that has the best overall rate and cost. Perhaps the credit or documentation needs are better served by an investor other than our own banking sources. In that case, we are able to sell real estate loans to another bank. Sometimes, we do not offer certain programs that other banks may offer and that you may need. Subsequently, we will broker those real estate loans.
Common Misconception About Mortgage Brokers
The common misconception about mortgage brokers is that one has to pay more to use the services of a mortgage broker. A mortgage broker buys loans from the investor, whether it be Chase Manhattan Bank, Bank of America, Wells Fargo, Countrywide or any number of other large banking resources. These banks have a wholesale division. The wholesale division is available only to licensed mortgage brokers who have undergone stringent underwriting criteria themselves to be eligible to sell and deliver loans to the bank.
Real Estate Loans at Retail or Better
A mortgage broker simply buys the real estate loan for less than the banks retail division is able to offer, and then sells the real estate loan to you, the consumer, at a rate/cost of retail or better. Naturally, due to the competitive nature of the mortgage business, Ascot Mortgage shops the market to determine that our services are very attractively priced.
