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LOW RATES but for HOW LONG??

admin — Thu, 11 Aug 2011 19:24:33 +0000

Rates AGAIN have hit historic lows…How long will they last this time around? Does it even matter to the troubled housing markets?
Both 30 year and 15 year mortgages have hit record lows this week thanks to a contageous sovereign debt crisis. The financial crash and mortgage meltdown of 2008 is behind us, but not that far… Now we are dealing with a GLOBAL Debt crisis. The US is no exception to the crisis. Our mounting debt and domestic liabilities have been piling up for decades with no exit strategy in sight (or on the radar). The political games of Washington were on full display to the American people over the past few months with Debt Ceiling issue.
Well, thanks to the flury of what seems to be never ending negative bad news, mortgage rates will continue to bounce around historic lows. The problem is we have no idea how long this historic lows will stay in effect. The market is set for a turbulent ride of bumps and lumps! One day rates will be 4.0% and the next 4.25% or higher. Take advantage of the dips!
Get started today and lock in your application.

Purchase Season!

admin — Fri, 20 May 2011 16:01:31 +0000

It is officially the Home Buying season! More purchases happen over the summer to early fall months than during any other time of the year. Allied Welcomes the home buying season with Delaware, Pennsylvania, and New Jersey’s most home buying loan products.
We have the Delaware First time home buyer mortgage programs where we can supply qualified first time home buyers with up to $10,000 to be used for down payment and closing costs. So whether you have a lot or a little money in the bank you can still afford to own a home. Plus, the rates are GREAT. Low rates and low home prices right now are fueling the market.
Allied proundly offers Pennsylvania’s first time home buyer programs as well. The PA first time home buyer can enjoy up to $3,000 in down payment and closing assistance with a PHFA mortgage. Allied is a direct lender on the first time homebuyer program.
New Jersey has a housing start progam also for qualified applicants. Call us today for the tristate areas first time home buyer options.

Do not miss this perfect storm of low rates, low home prices, and great mortgage products.

Allied is an equal housing lender licensed by the PA Dept of banking, NJ dept of banking and insurance and Delaware dept of banking.

Allied serves Wilmington, DE with low rates as a direct lender. Allied lend in New Castle County, DE, Kent county and Sussex county DE.
We are Pennsylvania’s premier low rate direct lender serving Philadelphia Mortgage needs, Delaware county low rates, Chester county local direct lender, montgomery county mortgage lender. Allied proudly funds loans throughout the entire state of PA.

Spring Market is here!

admin — Sun, 17 Apr 2011 05:30:45 +0000

The Spring Market is here and homes are being listed at fantastic prices. With rates down and home prices down this maybe the best time to buy, ever!
Delaware first time home buyers still have many no money down purchase programs. The DSHA housing authority loan still offers up to $10,000 for down payment and closing cost assistance. There are several other Delaware first time home buyer mortgage programs available.
Pennsylvania and New Jersey residents need not worry. We offer programs for first time home buyers in PA and NJ also!
Allied is located in Wilmington, DE but we service the tristate area. We are a low rate direct lender that specializes in purchase mortgages.
We offer 100% financing all around the tristate area. Call today to speak with a local representative. Find out why Delaware, Pennsylvania and New Jersey residents choose Allied for their mortgage needs.

Mortgage Rates Start to Drop

admin — Thu, 24 Feb 2011 16:13:04 +0000

After several weeks of rising mortgage interest rates, the market has pulled back. Rates are trending below 5% instead of above. Anyone who missed the last few months low rates should look again into refinancing. THis maybe the LAST time we see rates below 5% for a while. The reason for this is because the US Economy (dare I say it..) is IMPROVING, which genereally means high rates. But why are they ticking down..??..? UNREST in the Middle East and pressure on OIL prices are causing investors to buy bonds again. The feeling on the trading floor is that the Economy is Improving, but only slightly. Rising Energy costs could quickly pump the breaks on many thriving industries. Such as AIRLINES which have 40% of their cost in FUEL, FOOD/Commodities which get deliverd via trucks and trains that use energy, HOTEL which has spring and summer markets around the corner waiting for consumers to arrive via plane train and automobile. So with a soft economic recovery you can easily see how rising oil could slow us down

With all of that analysis said, CALL ME TODAY and refinance or purchase a home now.

Purchase specials are still available. No Money down loans are still real!!

You NEED Credit to GET Credit

admin — Mon, 21 Feb 2011 19:02:49 +0000

You need credit to get credit!! FACT.

Many times we run into individuals who have savings, income, and the desire to purchase a home. But they don’t have the proper credit score and history to get approved for a loan. Some people never even apply because they think that they have bad credit and would never be able to get a home loan. Do not be afraid! Call us to review your credit file and offer tips and tricks to get you on your way.

When you have NO or a limited amount of open and active credit accounts (loans, credit cards, etc) your credit score will just sit there and eventually fall off! If you have only collection accounts your score will just go down lower and lower until your report stops reporting a credit score. THis is the worst case because once your score disappears, so do your chances of getting a mortgage or any loan.

WHAT DO YOU DO?— GET CREDIT!! HOW???
Well, when you have no score or a low score you have to PAY to PLAY. Basically you need to get a secured credit card (or TWO) to have your account rebuild a POSITIVE history and revive your score. We have a link on the home page to get a secured credit card for only a $200 deposit! this is the lowest in the industry. (some fees apply). Get the card!!!!! The money for the deposit gets locked in the bank’s vault until you cancel the card. Do not cancel the card anytime soon. You need to build other credit types before cancelling the new account.

After you get the card you have to use it properly. Here are my proven suggestions on how to use the card:
1. Use the card ONCE or twice a month.
2. Never charge more than half of the balance on a monthly basis (this means if the limit is $200 NEVER owe more than $100)
3. PAY on time!!
By the time you make your thrid payment your score will go up tremendously. Do not close the account until after you have closed on your mortgage. It maybe in your best interest to keep the account open for even longer.

Now get on your way to getting credit today! The sooner you do this the sooner you will have a mortgage.

Lowest Rates EVER.. THE BOAT IS HERE

admin — Fri, 08 Oct 2010 14:39:17 +0000

SHORT AND SWEET TODAY…

Lowest Mortgage rates ever.

Refinance NOW or miss the boat.
Refi mortgages in PA DE NJ
www.amghomeloans.com

Unemployment Rate and Commentary or Housing

admin — Thu, 07 Oct 2010 14:18:09 +0000

Below is a map of each State’s Unemployment rate for the month of August 2010. With the nation’s unemployment rate and jobless claims at all time highs, mortgage rates continue to remain low. This is one of several factors that affect rates. It is a catch 22 for most though. The rates are low and unemployment is high means that many people who want to save money and need to save money are Unemployed!! This means they probably DO NOT Qualify for a lower rate. The US Government needs to do MORE! More to create jobs in the private sector and more to allow people to refinance through mortgage bankers.

SOME IDEAS and thoughts:

How to create private sector jobs without cutting taxes? Is this impossible? NO, it is POSSIBLE but Congress can never see this. Republicans want taxes for Businesses CUT so they can save money and create more jobs in the Private Sector. Democrats do NOT want to cut business taxes, instead they want to use stimulus money for gov’t jobs and roads, tunnels, etc.. WELL NEWS FLASH!!- IT’s NOT WORKING VERY WELL. So what should a bi-partisan effort look like?

Here’s my two sense (not cents because it actually makes SENSE)–

Stimululate Private Sector Businesses to CREATE JOBS in lieu of tax cuts. Why no tax cuts you ask? Because you cannot guarantee that businesses will appropriate tax cut revenue for job creation. BUT if Government gives MONEY to businesses that CREATE JOBS then there is incentive for the businesses to do so. What this does is NOT AFFECT the gov’t revenue from Big Biz because taxes remain the same, but does directly give business incentives to HIRE! YEAH.. America goes back to work! And there is a bigger picture by NOT Cutting Corp Tax, not only does it not affect our governments income stream, but consistency is a BIG part of a budget. Maybe it’s so hard for congress to balance a budget because we have too many fatheads bouncing back and forth with tax policy! Imagine trying to walk a tightrope with people trying to pull you down on both sides…IT’s NOT GONNA HAPPEN. But if you had consistent distrubution of weight and one goal in mind, just maybe you will hold you balance.

Let’s dump some of this B.S. Government spending for Turtle Tunnells, yes they really spent a million bucks for turtles! Why would they not have offered some Private sector businesses a Million bucks towards salaries of NEW HIRES for a year or so. Have the money be a 50% reimbursement of wages?? What Business wouldn’t want to hire someone for 50k per year and only have to pay them 25k?? SOUNDS LIKE A NO BRAINER TO ME. I will hire people all day long at half their rate. OH, and guess what, next year when the gov’t incentive runs out, just maybe my business will be profitable enough to keep the staff on.

How to help people save money on their home mortgage? Well, the government has been trying to help out with this situation but with limited success. Maybe they should not have sent the Mortgage and Housing Industry so far to the left after the Housing/Mortgage Crisis… But nonetheless, major reform was necessary. Let’s talk about how they helped or have tried to help (Keep in mind this is coming from ME not a WallStreet Investor, Not a Congressman, and NOT the Media- so basically this means it is coming from SOMEONE WHO IS ON THE FRONTLINE NOT THE SIDELINE).

FHA Secure- Govt wants to refi homeowners that are behind on their mortgages into new mortgages to DO WHAT?? FALL BEHIND ON A NEW LOAN Backed by FHA (which means backed by the gov’t which means BACKED BY YOU& ME). All that this DID WAS NOTHING. In theory, it would have bailed Wallstreet out that owned the failing, foreclosing loans and bought a homeowner more time to be in the same position… IT DIDN’T Give the homeonwer a JOB to pay the mortgage! Not to mention that I originated over 10 Million Dollars in mortgages during the first year of this program and NOT ONE PERSON Qualified for this program… DUD!!

HARP or HAMP- Programs that are out right now for servicers to modify existing loans owned by FNMA or FHLMC (Fannie Mae or Freddie Mac- if you don’t know who they are they basically own a large portion of the US Mortgage debt and were once Government Sponsored entities but now are Government entities because they screwed up!) This programs are working to some extent. But, they could work much BETTER if COMMON SENSE CAME INTO PLAY. (I’ll get to that shortly).

The programs allow for you to go to someone like ME (a Mortgage Banker/Lender) to have your loan refinanced under more “laxed” guidelines… This would be great if the guidelines were really “laxed” because they are not. They are only slightly more loose if you home’s value is not sufficient enough for a normal refinance. This has helped some but not as many as one would hope! The programs still have rate adjustments for loans that have appraisal issues PLUS they have rate adjustments for people with not so perfect credit… so how much are they really saving? NOT enough. If you (meaning the govt) want to create a program to help, why should it also HURT? WHO KNOWS.

Now, to the COMMONSENSE or lack thereof. If someone is paying on a FNMA or FHLMC loan right now and has been for at least 12 months (with or without employment and WITH or WITHOUT EQUITY) shouldn’t the program ALLOW this person to refinance regardless of whether they are gainfully employeed or regardless of the equity in their home? If they are going to walk away from the loan they would have done so already. And why should the program care if the balance on the home is 200k and the house is only worth 175k? At this point the client was still paying a higher payment with the same balance, why wouldnt they pay a lower payment? The balance is going to remain relatively the same. So if the bank has to foreclose they are stuck in the same position regardless. It just gives the homeowner the benefit of not having to pay more in rate versus less. HOW ABOUT A LITTLE HUMAN NATURE- What happens when the average consumer saves a little money? They SPEND MOST OF IT!! What does spending do? It stimulates retail sales which is a major component of the economy! So a little commonsense and some human nature is an organic approach to stimulate the economy WITHOUT POLITICS SAYING “TO CUT or NOT TO CUT”.

There is a bill going to congress to allow the common sense but it will hurt more than it will help. It is going to make the servicers have to do the refi/modification… NOT ME. So am I just being selfish that I will missout on this refinance opportunity? YES and NO because the banks cannot do it!! They do not have the manpower (or womanpower) to do this. Also, why would the government want to take MORE away from the Mortgage Lending Industry which has seen some of the HIGHEST LEVEL of constriciton in JOBS in a non-manufacturing sector! I don’t know why but I imagine it’s because the government knows NOTHING and trusts on the people that the FED tells them too trust (hint- BIG BANKS that created the FED)

Just some brief (haha) food for thought.. There is plenty more to follow, like FORECLOSURES and Short-Sales and how the Banks are messing this housing market up even more with inadequate efforts.

Unemployment rates per state

Local Lender

admin — Mon, 04 Oct 2010 13:42:36 +0000

Allied Mortgage Group is your local lender. Allied is proud to serve clients in Pennsylvania, Delaware, and New Jersey. We offer low rates and fast closing. PA, NJ, and DE residents have many options when it comes to buying or refinancing their homes. Allied has consistently been the best option. Allied has access to great First Time Homebuyers programs offering no money down financing. Allied has great jumbo loan rates.

As a direct lender, Allied closes your loan with our own funds. THis means great rates, low fees, and fast closings. We know the area and your town.

The staff at Allied is anxious to get your home loan closed fast. Call or click today to get started on your refinance or home purchase.

First Time Home Buyers!

admin — Thu, 30 Sep 2010 19:41:43 +0000

NOW is the time to buy!
Special program for First Time Home buyers in the state of Delaware! 30yr Fixed Rate Mortgages at 3.99% Zero points. Plus, up to $10,000 in closing and down payment money available! This is for a limited time only! Call now 302-477-9449 to see if you qualify.
Housing inventories are plentiful! Own a home at the lowest interest rates available and with no money down.

Lower your Mortgage Rate and term

admin — Wed, 18 Aug 2010 15:15:48 +0000

With interest rates at all time lows more and more clients are refinancing their home loans. Many for different reason. Some are just looking to lower their monthly mortgage payment and put the money in the bank. Others are looking to cut their mortgage term from a 30yr loan down to a 20yr or even 15yr. With rates so low the payments on 20yr loans are often the same as your present 30yr payment. The benefits on the lower term are often in the form of tens, sometimes hundreds, of thousands of dollars in savings. The savings are felt when you pay your home off up to 10 years sooner than you were orignally on pace for.

Here is a clients real scenario.

Presently they were paying $1900 per month in Principal and Interest on a 30yr loan. They were 3 years into a 30 year home loan. (so the had 27 years to go)
A new refinance to a 20 year loan saves them 7 years of payments! (27 remaining yrs minus the 20 yrs on the new loan that paid that one off).
The payment on the New 20yr loan was actually $20/mth less than their old loan at 30yrs. Now here is the overwhelming benefit:
Take the $1900/mth they were paying and times it by 84 payments
(84 is 7yrs of payments that they will eliminate)
$1900 times 84= $159,600 WOW!! That is some serious savings
You can save a ton of money by cutting the term down on your loan. There is no better time than today to get a quote and analysis of your present loan.

Get out of Mortgage debt sooner than later. Refinances are offered in Pennsylvania, Delaware, and New Jersey. Start working with the Tri-state areas most referred Direct lender.

Low rates, low fees, fast turn times, and expert advice.
Pennsylvania Refinance
Delaware Refinance
New Jersey Refinance
….EXPERTS