Prime Rate

The Prime Rate is now at 5.25%!!! This is great news for anyone who wants a Home Equity Line of Credit (HELOC) Loan. Some people might even qualify for a rate lower then the 5.25%. HELOC's have a variety of uses. You use the money to pay off credit card or other debt, add an addition on your home, remodel your home, or for whatever reason need be. If you would like additional information about HELOC's or any other type of financing available, please contact Chris Kusch with Premier Mortgage Link at 763-862-3990 or 763-300-9510.

Feds Cut Rates

Today, the Feds cut the federal funds rate by 0.75% down to 2.25%. If you would like a rate quote on a mortgage, please contact Chris Kusch with Premier Mortgage Link at 763-862-3990.

Feds Rate Cut

The Feds are expected to cut rates today. Stay tuned for further anouncements.

Good Faith Estimates

When you compare a Good Faith Estimate from one mortgage company to another, make sure you are making a correct comparison. If your loan amount is different from one comparison to another, so will your closing costs and possibly your interest rate, etc. If your loan-to-value changes, so might the costs and the interest rate. If you need help, don't be afraid to Chris Kusch for help. I am available to you via cell at 763-300-9510, office 763-862-3990, or email at chriskusch@premiermortgagelink.com.

Bank Owned and Foreclosed Homes

There are many great deals right now on foreclosed and bank owned homes. The first step in buying a foreclosed or bank owned home is to get pre approved for a mortgage. You need to know how much of a purchase price you qualify for and how much money you are required to put down on a home. There are also some programs available to buy HUD homes with as little $100 down and they can also give you $1500 credit at closing! This is very helpful to the buyer who has very little to put down or who wants to keep their money to fix the house up, put in new carpeting, etc.

The next step you would need to make is to chose a real estate agent who specialises in foreclosured homes and bank owned homes. We work with a network of real estate agents who specialize in this area who we can refer you to. They can help you every step of the way. You can also do a basic search of foreclosures and bank owned homes on our website at http://www.premiermortgagelink.com/Bank_Owned_and_Foreclosures.htm and the homes will be sent to your email.

These are the basics of buying a foreclosed home or bank owned home. I am more than happy to talk with you one-on-one to discuss this further. You can reach Chris Kusch with Premier Mortgage Link my office 763-862-3990, or mobile phone 763-300-9510. I can also be reached via email at chriskusch@premiermortgagelink.com.