First Time Homebuyer Interest Rates Fall

Qualified first-time home buyers can receive a forgivable 3% cash assistance loan for down payment and closing costs on a home.   The Missouri Housing Development Commission (MHDC) provides a competitive interest rate on a safe 30-year fixed rate 1st mortgage. Your 3% advance loan is treated as a 2nd mortgage completely forgivable after five years of continuous occupancy. New, Constant Funding means MHDC will have the monies available for the borrowers regardless of bond issuance.

For more information about this program,contact me by clicking below.

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Today’s historically low rates increase your buying power! St. Louis Mortgage Interest Rate Update

Mortgage interest rates have reached historically low levels. It’s truly amazing how much the average borrower’s purchasing power has increased! The following chart tells it all. Check out the chart showing the history of interest rates as well as the examples of the savings below: Continue reading “Today’s historically low rates increase your buying power! St. Louis Mortgage Interest Rate Update

Mortgage information and advice from a St. Louis Mortgage Banker – Final post of the series

Dennis Norman

Dennis Norman

By: Dennis Norman

Today we pick up where we left off yesterday with my E-View TM with respected mortgage banker, H. John Frank, President of Paramount Mortgage Co. here in St. Louis.

If you missed part one, two, or three, there are links to both at the end of this post. And now, the final part of the E-View TM:

Q-This is a good time probably to address the Internet. There appear to be hundreds of lenders on the Internet for the consumer to choose from in addition to their local lenders.
Do you think there is cause for concern for a borrower in dealing with an Internet based company that does not have a physical location in their market? Or should they treat that type of company the same as a local company when checking them out to consider as their lender?

H. John Frank, Jr., President, Paramount Mortgage Co.

H. John Frank, Jr., President, Paramount Mortgage Co.

A-When you deal with a local lender or someone you have previously dealt with, you can always go into their office and discuss the problems or hopefully a local representative will be at the closing to go over the numbers with you and correct any mistakes or changes that have occurred. Continue reading “Mortgage information and advice from a St. Louis Mortgage Banker – Final post of the series