Did you know there has been an increase in the number of loan products in the last year or so?
Besides conventional and FHA loans we now have Non QM products that will use bank statements, and investment assets to qualify you for a loan. These products are especially helpful for the self-employed borrower whose tax return may not show their true borrowing capacity. In addition our product line also includes hard money and bridge loans, reverse mortgages and loans on commercial properties as well as apartment buildings of 5 units or more.
Give us a call just to say Hi and we can provide you with additional information on these products.
With the turmoil in Europe we had some improvement in pricing early in the week. The 10 Year bond dropped as low as 2.82%. It had peaked at 3.06 %. Today it is trading in the 2.8558 % area.
The jobs report came out today and was better than expected. 223,000 new jobs were created. The unemployment rate dropped to 3.8 % the lowest in half a century & hourly wages have risen 2.7 % this year which is good.
The job participation rate dropped from 62.8 % to 62.7 %. That is just not improving very much. It is the same as it was a year ago.
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