Roland's Rate

09/19/2024

Could a refinance help you? Let’s have a conversation.

✔️Consolidated debt
✔️Lower payment
✔️Purchase an investment property
✔️Cancel mortgage insurance

The Federal Reserve on Wednesday lowered the federal funds rate to a range between 4.75%-5%.

08/27/2024

Thats quite an increase. What are your thoughts? Let me know if you want to chat about buying your next home. 🏡

08/17/2024

Some interesting changes in the real estate community. What do you think, i’d love to discuss.

On August 17, a new set of rules governing the way most real estate professionals do business in the US officially take effect – and the changes could potentially upend the way Americans buy and sell homes.

05/28/2024

FHA made several changes to the handbook, which I am sure we will get more as they are implemented.

However two I am going to put into change now are:
Large deposits - instead of using 1% of the purchase price they are now using 50% of the qualifying income. However please note that they continue to add the requirement of if the borrower has deposit(s) that are not in line with earnings and or savings pattern to source them.
This means that several deposits made on same day or within 2-3 days should be counted as one deposit.
escalate this as needed when not sure.

Let me know if you have further questions about what this means or how this may affect your purchase.

07/27/2022

Lock’em if you gottem

The U.S. central bank has indicated another major increase in interest rates is coming as it tries to get runaway inflation in check.

07/21/2022

07/14/2022

FHA Alert - Guideline Change - Appraisal Expiration Dates!

For loan originations, the new validity period guidance:
* Applies to case numbers assigned on or after June 1, 2022 [FHA Info Letter Sent July 12, 2022];
* Updates the initial appraisal validity period from 120 days to 180 days from the effective date of the appraisal report;
* Extends the appraisal update validity period from 240 days to one year from the effective date of the initial appraisal report;
* Allows the appraisal update to be ordered AFTER an appraisal expires; and
* Eliminates the optional 30-day extension.

This is big news for FHA lenders who previously had to apply and re-apply for 30-day extensions!

The guideline change also puts FHA appraisal expirations on par with conventional loan expiration dates.

07/08/2022

What are your thoughts? Is now a good time to buy? Comment below 👇

The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased 3.4 points in June to 64.8, its second-lowest reading in a decade.

06/30/2022

What is an escalation clause? When you're deciding on what price to offer on a home, the situation may call for this kind of clause.

06/23/2022

Saving a down payment seems impossible when you need a safety net, retirement nest egg, and more. Can you sacrifice one for the other?

06/21/2022

Earlier this year I had some buyer’s question if low 4’s was a good rate. Now it looks like a steal.

We haven't seen mortgage rates go up this fast since 1981—a year that saw mortgage rates top 18%.