With the media telling us ‘The Sky is Falling’, should you rent, or should you buy? Let’s take a minute to find out – SHOULD I RENT, OR SHOULD I BUY?
WHAT ARE PIGGYBACK LOANS?
Bank of Albuquerque Mortgage What Are Piggyback Loans? Depending on the lender or broker you’re talking to, Piggyback loans are also called: a. Combo Loans b. 80/10, 80/15, 80/20, 75/25 loans Piggyback loans combine a 1st mortgage (usually 75 – 80% of the appraised value, to avoid PMI), with a “piggyback” 2nd mortgage (usually 10%, […]
WHAT’S THE REAL STORY ON THE HOUSING MARKET?
Improvement in Mortgage Market Bodes Well for Housing in 2008 WASHINGTON, October 10, 2007 – Conditions in the mortgage market are improving for consumers, which should help to release some pent-up demand in early 2008, according to the latest forecast by the National Association of Realtors®. Lawrence Yun, NAR senior economist, notes that widening credit […]
NEW AREA CODE
NEW AREA CODE FOR NEW MEXICO COMING! On October 7, 2007 – the state of New Mexico will be split into two area codes. The northwest region of the state will retain it’s current area code (505) and the rest of the state will get a new area code (575). This change will affect wireline […]
Today’s Mortgage Market
Alot of stuff on the news today about the mortgage market! We had news today that a primary mortgage source went under, leaving 3 MAJOR mortgage companies in Albuquerque without ways to fund their loans. This is causing a slight nail biting within our industry today, but take some sedatives and know this – ALL […]