|
Financial Resources
Whether you are buying a new home or refinancing the home you are in, let us guide you through the stressful process. Together, with Prosperity Mortgage, we will accommodate your financial needs. Prosperity mortgage has an outstanding record for customer satisfaction.
Please explore the links below to help you with your financial needs.
Mortgage Calculators and Tools
Instead of estimating numbers, our calculators take the guesswork out for you. Some of the most frequently asked financial questions can be answered at the Prosperity Mortgage site. Click on the link above to answer these questions.
Pre-Approval Application
Before shopping for a home, finding out how much you quailify for can make the difference between: looking and buying. We’ll review your information and, if you qualify, provide you with a pre-approval letter for a certain loan amount and terms. To get started, fill out our online pre-approvalapplication. Its that easy.
Happy Valentines Day -
The President has signed the Economic Stimulus Bill. The package, among other things, allows for higher loan limits for FHA and FNMA/FHLMC. The agencies and their regulators will now work to enact the increases. The timing of the changes is dependent on the agencies and further negotiations among the regulators and legislators. It appears that we will see the changes in 2 to 4 weeks. These are the highlights to look for...
- FHA and FNMA/FHLMC appear to be set to raise their loan limits to ~ 600k, in our area, through the end of the year.
- FHA will likely reduce the total cash needed to purchase through their program from 3% to 1.5% of the sales price
Mortgage rates have edged up in recent weeks as bond traders have focused on inflation worries down the road. We have seen an increase in mortgage rates of about 1/2% from the low a few weeks ago. Today's conforming rate w/ 1 point is 5.75% - still near historical lows!
 |
|
|
|
|
|
|
|
Five Reasons Houses Beat Stocks
by Blanche Evans
Despite what Wall Street wants you to believe, owning a home isn't the same kind of investment as stocks or bonds. What you get is a USE asset that depreciates over time, while it grows in market value. All you have to do is keep the home in good repair to max out your take.
Here are five reasons why you get more for your money with a house than a worthless sock puppet:
Leverage: with stocks, you put in all your money for a little piece of a company. With a house, you put in a little money to get all of the house.
Tax benefits: Uncle Sam knows that owning a home is a pain in the neck, that's why you get subsidies. These are basically government bribes to get you to buy. What other investment can you put in 5 percent of the cost of the asset, reap all the appreciation and pay no capital gains? That's right: live in your home two years, rent it for three, sell it, and pay no tax on capital gains up to 250,000 for singles, $500,000 for married couples. And you're worried about paying too much?
And that's not all - think about the benefits of fixed-rate mortgages, property tax write-offs, interest rate deductions, depreciation. Is this a great country or what? more>
|
| |
|
|
Economic Calendar
Important economic indicators and release dates.
|
| |
|
|
|
|
|
NCM
4000 Legato Rd #800
Fairfax, Va 22033
703 273 1670
| |
A division of National City Bank. All loans subject to credit approval and property appraisal. | |
|
|
|
|
Copyright ©2008 Realty Times. All Rights Reserved.
|
Tim Dagata
Branch Manager
Vice President
National City Mortgage
4000 Legato Rd. #800
Fairfax, Va. 22033
Office (703) 273-1670
Fax (703) 273-8008
tim.dagata@ncmc.com
timdagata.com
-------------------------------------------------------------------------------------------
***The following annotations have been made
-------------------------------------------------------------------------------------------
Please be aware that e-mail is NOT a secured communication vehicle, and that others may in certain circumstances be able to view its contents. As a result, while we are happy to provide this information by e-mail, we do NOT conduct actual business transactions by e-mail. Please contact the sender directly if you have any concerns about this message. All loans subject to credit approval and property appraisal. Equal Housing Lender. This communication is a confidential and proprietary business communication. It is intended solely for the use of the designated recipient(s). If this communication is received in error, please contact the sender and delete this communication. ==============================================================================
|
