Posts tagged Fed Rate
Mortgage Options for Self-Employed Borrowers

At Geneva Financial we are proud to offer one of the largest portfolios of financing products available. Our goal is to provide solutions for every profile of borrower based on their unique needs.

For self-employed borrowers, we provide home loan products using 12 months of bank statements to verify income.

An outline of the program is below. If you or someone you know is self-employed and might be able to benefit from this product, please feel free to reach out to me for a complimentary consultation.

Program Highlights:

• One borrower must be self-employed and may have a W-2 co-borrower
• Assets must be traditionally documented
• Loan amounts up to $3million

• DTI can go up to 55% with certain conditions
• Borrower may use an asset amortization formula to derive additional qualifying income
• Credit scores as low as 600


USABLE ASSETS:

• Bank Statements
• Mutual Funds
• Stocks & Bonds 
• 401K


LOANS TO $3M • CASH OUT REFI TO $2M AVAILABLE FOR:

•SFRs
•PUDs
•Condos
•1-4 units



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Mortgage Rates fall for the fourth consecutive week as ten-year treasury tumbles and dow drops 300 points.

Mortgage Rates fall for the fourth consecutive week as ten-year treasury tumbles and dow drops 300 points.

The yield on the 10-year Treasury note fell Thursday to its lowest level since 2017, dropping 9.7 basis points to 2.308%. The 2-year and the 5-year treasury fell by ten basis points.



(Image Data Source: FactSet)


Marking the fourth straight week of trending downward, mortgage rates now sit at lowest point in a year. According to Freddie Mac, a 30-year fixed rate mortgage sits at a4.06% national average.*

One year ago today the average rate reported at 4.66%.


The Dow also dropped 250 basis points Thursday, in part due to the ongoing trade war.

Housing industry experts anticipate a rise in purchase and refinance mortgage activity
as the market continues to play in the favor of homebuyers and homeowners.

The trend is not expected to continue for an extended period and the window to take advantage of the best rates we have seen in a year could be narrow as market conditions may likely level out.

Fast action is crucial. If you have any questions or would like advisement on what action you may be able to take during this time, I am, as always, here as your trusted advisor.


(*Sources: CNBC, Housing Wire, FactSet)

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