Posts By Seth Jacobs
Location
Maine
Phone: 207-321-5347
Posts
If you are the average homeowner your probably getting sick of hearing every few months the catch phrase “historic low rates”. It’s about as common now as your local furniture store going out of business every other month. But as Mortgage Professional, we really do need to alarm people of every small window that opens [...]
Maine House hunters who purchase a Maine Home with an FHA mortgage loan may eventually decide to refinance the home to get a better interest rate, lower payments or to take advantage of the equity built up in the home. Maine homeowners are curious about FHA cash-out refinancing options–does the FHA allow a cash-out refinancing [...]
The overall Portland housing market continues to see recovery and stabilization helped along by many active buyers, more realistic sellers and continued low interest rates. An average single family home in Portland Maine can be found for just north or south of 200K and 250K to 300K will buy you a wonderful 3-4 bed, 2 [...]
If you simply call up and ask a lender for the best mortgage rates in Maine, the loan officer is likely to say whatever you’d like to hear.
One lender may quote a “floating” rate (seven or twelve day lock) and another may quote you a forty-five day lock. Another lender may quote you the rate for two points and another may quote you the rate for one point.
An FHA Mortgage Loan is a popular program for many Maine First-Time Homebuyers due to the low down-payment requirements and easy credit score guidelines.
The following list details the top five items Maine homebuyers should know about getting a mortgage insured under the FHA loan program:
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