Gastonia NC Mortgage Rate Update!

Wilcox Real Estate Gastonia

5/03/19

Weekly Mortgage Rate Update and Trusted Lender Programs

Things That Buyers Do To Delay Their Own Closings

  1. Wait too long to submit required documentation for loan approval OR argue with the lender that requested documentation is not needed.
  2. Make a large deposit of cash to the bank shortly before the scheduled closing date.
  3. Wait too long to withdraw money from the 401K for the downpayment.
  4. Open a new credit account to buy furniture and appliances for the new house.
  5. Wait until the very end of the process to secure Homeowner’s Insurance.
  6. In a rush situation, delay the appraisal until after the home inspection is done.
  7. Finally take that new job they’ve always wanted.  Oh yes, and it’s commission pay.
  8. Wait until the last minute to get a Power of Attorney when a buyer is unable to attend closing.
  9. Get a brand new car, and consequently a new car loan, increasing mortgage debt ratios.
  10. Fail to disclose other financial obligations such as child support, alimony or tax payments.
In an effort to avoid any of the above situations with our borrowers, our team issues the attached “Pickle Letter” as a part of our loan application process.  We try to make sure that buyers who work with us are aware upfront that these things can cause a delay in closing.

 

Chris Reshetar Team

Today’s Rates: 5/3/2019

 National Mtg Rate Averages
 
Today
30 Year Fixed Purchase
4.29%
15 Year Fixed Purchase
3.97%
5/1 ARM Purchase
4.06%
*Keep in mind that we do VA, USDA, 203K, Down Payment Assistance, CP, Jumbo, Conv’l Rehab and others. 
Today’s NC Home Advantage Program Rate
 
FHA with 3% assistance
5.375%
FHA with 5% assistance
5.875%
97% Conventional with 3% assistance
5.25%
$8,000 Down Payment Assistance
4.5%

USDA Turn Times for Approval in NC
USDA Turn Times for Approval in SC
Processing loans submitted 4/29/19
4 business days
Have a great weekend!  Please let me know how I can help.

NFM Lending

Kevin M. Guthard

Kevin M. Guthard

Mortgage Loan Originator

NMLS ID#:
589375

Phone:
954-734-0305

Email:
kguthard@nfmlending.com

Address:
3440 Torringdon Way Suite 203 Charlotte NC 28277

 

Christopher Reshetar

Christopher Reshetar

Branch Manager

NMLS ID#:
117266

Phone:704-277-4463

Email:
creshetar@nfmlending.com

Address:
3440 Torringdon Way, Suite 203, Charlotte NC28277