Financing Blog

    Do you have an Adjustable rate that has already adjusted, or will adjust before December 2009?  Then you can take advantage of the more relaxed FHA guidelines for those who were victims of their ARM payments adjusting!  You are allowed to have late mortgage payments if you can show that your current mortgage is an Adjustable Rate mortgage, and the amount of the adjusted payment is what made it impossible to pay.  You still have to qualify based on your income--in other words: You still have to be able to afford your new FHA mortgage payment.

    On average, Adjustable Rate mortgage payments rose about $200 per household, and rates adjusted 3% or more above the start rate!  If your payments are adjusting soon or have already adjusted, please contact Harley Lightle with any questions, and to see if you qualify for a Fixed Rate refinance.  And don't forget: Because of market shifts in Home Values, NOW is the time to buy!  Make sure you let the professionals handle your new mortgage and that it is a Fixed Rate!

Harley C. Lightle III

It's a big step to purchase a home, and an even bigger step to decide if it is the right time to refinance!  Home Lending used to be a cumbersome, stressful process that used to mean hundreds of sheets of paper and the requirement of a down payment - NO EXCEPTIONS!  In today's Home Lending market, a down payment is not required for those who are "Credit-Worthy".  The higher your Credit Score, the better your loan product and rate will be! 

What you don't know, does seem scary...so educate yourself by spending some time with this website, or posting your question here!  We are here to help, and we want to serve your financing needs completely!

Gratefully,

Harley C. Lightle III