Key Mortgage Corporation

The borrower’s minimum required investment has recently been decreased from 3% down to 0% if the borrower is able to obtain a Gift for their Down Payment. This is now eligible on all Conventional Loans where the borrower is purchasing a property as their Primary Residence. This follows in line with the longtime FHA guideline […]

As Mortgage Insurance Premiums are no longer tax deductible for 2014, try Lender Paid Mortgage Insurance (LPMI) and maintain your tax advantage. With LPMI, you simply pay a slightly higher rate and you have no monthly mortgage insurance tacked on to your monthly mortgage payment. Furthermore, the interest you pay remains fully deductible as always… […]

On Friday, Februry 14, 2014, Fannie Mae began offering closing cost incentives for owner occupied purchasers of homes in their portfolio. Through their HomePath FirstLook program, qualifying borrowers may recieve up to 3.5% in closing cost assistance. The intention of this special incentive is to continue to stabilize neighborhoods and continue to aid the housing […]

According to a recent Fannie Mae survey, nearly 65 percent of Americans believe that “now” is a good time to buy a home. And, your retirement funds can be a tool to make this happen for you. Whether you have a traditional IRA, Roth IRA, or 401(K) plan, there are provisions in each type to […]

While Mortgage Rates have been trending upward, by the end of last week, rates began to shift back downward. Federal Reserve Chair nominee Janet Yellen’s testimony before the Senate last week appears to have helped ease mortgage rates. Yellen defended the program of quantitative easing and made it clear that she would continue to aggressively […]

With the dampening econcomic effect of last month’s Government Shutdown, Home Mortgage Rates continued to ease throughout October. Furthermore, last week the Fed Announced that they will likely not cease their Quantitative Easing measures of purchasing bonds until well into next year. This has helped bring home mortgage interest rates back to near their all […]

Although the 3% down payment Conventional Loan is being phased out as of November 17, 2013, several significant enhancements to the 5% down payment program have been added. First and foremost is the ability for the borrower to recieve 100% of the down payment and or closing costs using Gift Funds. No minimum investment utiizing […]

While home mortgage interest rates have seen a recent rise, it is unlikely to affect home purchasing activity. In addition, the rising rates have almost no affect on Home Affordability. As rates continue to remain near historic low levels and with the continued improvement throughout all sectors in our economy, home purchase activity is expected […]

The Federal Reserve (FOMC) concluded their meeting today issuing a statement about the state of the US economy. The consensus among most Economists was that their view of the economy was slighly weaker than at the conclusion of their last meeting. Bond markets reacted favorably this afternoon with yields on 10 Year Treasuries down from […]

The interest rate for a 30 Year, Fixed Rate mortgage is expected to hover around 4% during the second half of 2013 after rising 0.5 percentage points in the past several weeks, Freddie Mac said in its latest U.S. Economic and Housing Market Outlook. But, don’t expect rising interest rates to stall the nation’s housing […]