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Mortgage Update July 2008. Interest rates have decreased slightly
from recent highs reached in June but the mortgage industry continues
to make it harder to get a mortgage. Fannie Mae and Freddie Mac
have tightened their standards and so have the mortgage insurance
providers who help buyers when they make a down payment of less
than 20%. Many areas continue to suffer from declining values,
giving buyers a better deal when they buy but making it almost
impossible for homeowners to refinance. As of right now there
is no light at the end of the tunnel. The only bright spot right
now is the FHA program. Not only has FHA increased their loan
limits for many part of the country, but they have also added
special programs to help homeowners who are seeing large increases
in their adjustable rate mortgages.
Mortgage Almanac is here to help. If you need a mortgage
to buy or refinance, we can help guide you through these difficult
times. When you submit a loan request to Mortgage Almanac, you
are assigned an experienced representative who will guide you
from start to finish by assessing your needs, locating the best
lenders, finding the best loan program and then obtaining the
best rates and lowest costs available. Mortgage Almanac
has been helping home buyers and refinancing home owners with
objective mortgage advice since 1995.
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If you are looking
for a mortgage to purchase or refinance your home, Mortgage Almanac
can help even in today's tougher mortgage lending world. We have
hundreds of detailed articles about buying and financing
your home. Use our mortgage locator service by clicking purchase or refinance and completing the easy
on-line application to get:
- Expert help
right away
- A Simple
Process to get your loan approved
- Objective
help with hundreds of lenders and programs
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