Albuquerque Real Estate Talk » Buyers Tips

Albuquerque Mortgage Rates Update

ashdhart — Fri, 18 Dec 2009 22:00:37 +0000

Albuquerque Mortgage Rate Update

Mortgage Interest Rates* as of Friday, December 18th, 2009:

CONFORMING CONVENTIONAL, 30 Yr: 4.875%

CONFORMING CONVENTIONAL, 15 Yr: 4.375%

FHA FIXED, 30 Yr: 4.875%

Jumbo rates available upon request.

Mortgage Rates provided by…

Barbara J. Shwartz
Senior Loan Specialist
Integris Funding LLC
11000 Spain NE, Bldg B
Albuquerque, NM 87111
Phone: (505) 362-0476
Fax (505) 213-0506
E-mail: bshwartz@integrisfunding.com
Web: www.IntegrisFunding.com

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

Albuquerque Mortgage Rates Update

ashdhart — Wed, 09 Dec 2009 22:33:33 +0000

Albuquerque Mortgage Rate Update

Mortgage Interest Rates* as of Wednesday, December 9th, 2009:

CONFORMING CONVENTIONAL: 4.875%

FHA FIXED: 5.000%

Jumbo rates available upon request.

Mortgage Rates provided by…

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

Albuquerque Mortgage Rates Update

ashdhart — Thu, 03 Dec 2009 05:00:19 +0000

Albuquerque Mortgage Rate Update

Mortgage Interest Rates* as of Wednesday, December 2nd, 2009:

CONFORMING CONVENTIONAL: 4.875%

FHA FIXED: 5.000%

Jumbo rates available upon request.

Mortgage Rates provided by…

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

Albuquerque Mortgage Rates Update

ashdhart — Fri, 20 Nov 2009 18:00:21 +0000

Albuquerque Mortgage Rate Update

Mortgage Interest Rates* as of Friday, November 20th, 2009:

CONFORMING CONVENTIONAL: 4.875%

FHA FIXED: 4.875%

Jumbo rates available upon request.

Mortgage Rates provided by…

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

Albuquerque Mortgage Rates Update

ashdhart — Fri, 13 Nov 2009 18:00:48 +0000

Albuquerque Mortgage Rate Update

Mortgage Interest Rates* as of Friday, November 13th, 2009:

CONFORMING CONVENTIONAL: 4.875%

FHA FIXED: 5.0%

Jumbo rates available upon request.

Mortgage Rates provided by…

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

Define: Comparative Sales

ashdhart — Fri, 30 Oct 2009 22:22:27 +0000

Comparative Sales: Sales that have similar characteristics as the subject property and are used for analysis in the appraisal process.

When doing a CMA (comparative market analysis) for a homeowner considering selling their home, real estate agents look at recently sold homes in the neighborhood. So as to make just comparisons, they use homes that are similar in size, location, age, type, etc. For example, a 2-bedroom condo would not be a comparable for a luxury home. This will help the seller to come up with the best price to market their home. Appraisers also use comparable sales data in determining the appraised amount for mortgages or refi’s.

Define: Quitclaim Deed

ashdhart — Fri, 23 Oct 2009 15:05:10 +0000

Quitclaim Deed: A deed that conveys only the grantor’s right or interest in real estate, without stating the nature of the rights and with no warranties of ownership.

A quitclaim deed is an easy way to add or remove a legal owner if you know the ownership. Commonly seen in a divorce or marriage, but also if one partner obtains the mortgage in their name and wishes to add the other partner to the deed. Being added or removed does not relieve you or make you responsible for the mortgage. This is a separate document.

Define: Earnest Money

ashdhart — Wed, 21 Oct 2009 17:29:13 +0000

Earnest Money : A deposit made by a purchaser of real estate to evidence good faith.

Earnest money is an amount of money offered with the purchase agreement to show the sellers that you are serious about purchasing their home. A homeowner will want to know this before agreeing to take their home off the market. Typically, in Albuquerque, earnest money can range from $1,000-$1,500 for less than $250,000 and $3,000-$5,000 for up to $500,000. This is always negotiable, but needs to be reasonable for the seller. Earnest money is generally held in escrow with a title company in Albuquerque and is credited to the buyer at closing.

Define: Escrow

ashdhart — Thu, 15 Oct 2009 03:57:54 +0000

Escrow : An agreement between two or more parties providing that certain instruments or property be placed with a third party for safekeeping, pending the fulfillment or performance of a specific act or condition.

Typically, this is seen when a buyer writes a check for earnest money as part of a purchase agreement. In Albuquerque, a title company usually acts as the escrow agent. After the offer is accepted, the check is deposited with the title company. They will then apply the amount of the check as a credit to the buyer at closing. If the contract is terminated, however, the title company will disburse per the instructions in the contract and only with the signatures of all parties involved.

Define: Deed

ashdhart — Tue, 13 Oct 2009 23:12:56 +0000

Deed :A written instrument which, when properly executed and delivered, conveys title to real property.

To protect ownership, the deed should be filed with the county. The title company will record the deed when the loan funds.

This piece of paper, which shows new ownership, must have:
• the buyers and sellers names
• the sellers signatures
• a complete legal description.
• been notarized.

For more info, visit Bernalillo County’s Document Search or FAQ’s.