A 50 Year Mortgage?

A 50 year mortgage?! Can the Trump administrations newest idea of a 50 year mortgage help you to afford a new home? Maybe! If the 50 year mortgage comes to pass it will certainly lower your required minimum payment for principal and interest. Most people do not pay off their entire mortgage, either selling the…

Furloughed Pay! (update) Good news on furloughed pay! One of my lenders will use your last paystub received before the government shutdown! Not only that, but when the lender verifies that you work for one of the impacted agencies that temporarily laid you off, they will waive the “VOE” (verification of employment). This is big…

Overthinking Fed Rate Drops! Did you get caught overthinking the most recent Fed rate drop? Me too! For the second time in a row, short term rates dropped and mortgage rates rose or remained stagnant. This recent trend is, in general, not what used to happen. You could almost count on long term rates following…

The Fed and Tariffs and Russia Oh My! The Fed and Tariffs and Russia Oh My! So much to think about as President Trump attempts to make America…OZ! With the President leaning on the Fed Reserve Chairman to lower short term interest rates, and tariffs being a boom or bust, and oh yeah, can Whitehouse…

Rates Trend Down! For the first time in months, mortgage rates have slightly dropped! It all depends on what your purchase or refinance situation looks like, but in general, the current trend down mortgage rates are a welcome sign to everyone who has been waiting to buy real estate or refinance their present home! Overall,…

Scenario Calls Encouraged! Scenario calls are encouraged at Mitchell Mortgage so you can quit wondering about when and if you qualify for a new home purchase mortgage or refinance on an existing residence! Let’s stop the confusion and uncertainty by calling Michael Mitchell, the Broker/Owner of Mitchell Mortgage who will listen and then give you…

President Trump and Fed Chair Powell President Trump and Fed Chair Powell, do not see eye to eye on what should happen to interest rates! President Trump would like to see short term rates drop, which, he believes would put pressure on long term (mortgage rates) to finally drop. Federal Reserve Chaiman Jerome Powell feels differently.…

62 and over can think about Reverse! 62 and over can think about Reverse Mortgages! Once you hit that age and you find yourself with a large amount of equity, but not much cash flow…then a Reverse Mortgage might help. You can use the money for any reason you choose! Reverse Mortgages aren’t for everybody,…

May is Listing Month! Typically the month of May is the largest listing month for Real Estate 1-4 family homes! So if you are looking for a home, your choices should be greatest, right now! Interest rates are not moving, up or down, and that means you can budget with confidence at the current levels.…

Time to buy a new home? Yes! Why? Because you have buying power! Many sellers have just been waiting for the chance to sell their home at a top price, but with the home buying season upon us, they will have competition, which is good news for buyers. The more on the market, the more sellers…