The 30 year mortgage has been the most popular choice for as long as I can remember.For many people, the cash flow is the most important thing, and 30 year mortgages give you the lowest monthly payment. But there are some people who are not in favor of continuing the 30 year mortgage.

February 14th, the Senate Banking Committee is going to hear from Mark Calabria, who has been nominated to become the next Federal Housing Finance Agency (FHFA) director. Assuming he replaces current director Mel Watt, some worry the very well-liked and widely used 30-year fixed mortgage may cease to exist.

The basis for that argument is he might unwind Fannie and Freddie, which back the majority of 30-year mortgages out there. They’re able to play “middleman” as the WSJ puts it, by linking the loans with outside investors who are willing to take on the risks associated with a three-decade long fixed-rate loan.

But if Calabria gets elected and decides that he doesn’t want the government to purchase 30-year fixed mortgages anymore, he could direct Fannie and Freddie to stop buying or backing such loans. This could make the mortgage market a lot less liquid for home loans with 30-year fixed terms, thereby pushing them to extinction or greatly increasing their price.

If fewer investors are willing to buy them from originating lenders, they might only be offered by portfolio lenders that hold onto them until payoff or maturity.

A Shift to ARMs?

As a result, these few lenders could demand a higher interest rate in return, which could make 30-year fixed mortgages a lot less competitive. It could also lower home prices in the process if financing got more expensive across the board.

The spread between the 30-year fixed and 5/1 ARM has ranged from just 0.27% to as much as 1.30% since Freddie Mac began tracking it in 2005. In other words, there was a time when you could lock in an interest rate for a full three decades that was a mere quarter-percent higher than a loan with an interest rate fixed for just five years.

This really illustrates the investor appetite for long-term fixed-rate mortgages thanks to that government backing.

If you are getting ready to purchase property, why not call Ruth Schoenheer, and get her advice? Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net or call at 727 447-2418.

In today’s real estate market, multiple bids are almost the norm. You need to be prepared to handle the situation. The first thing to do is to get established with a mortgage broker and become pre-qualified. You need to know that you can afford the house and that you can close on your mortgage in a timely fashion and demonstrate that to your potential seller.

It is also important that you have a real estate agent who knows what he or she is doing. Those people do this every day and they can navigate you through the process, while you are probably not well versed on the situation.

You and your real estate agent have to be really familiar with the home values in the neighborhood that you are making a bid in. Of course it is expected that your agent has studied the “comps” or listings of comparable houses, and more importantly, recent sales of comparable houses. What is the history in your area? Is it common to have to bid over the asking price? Are you going to have to expect to be in a bidding war?

If you think that you should bid low because you can always come up, that may not be a good plan, because your dream home may be gone before you realize what happened. You probably should make a strong offer from the beginning.

Something that could happen is that after you make your offer, the seller could make a counter offer. Be prepared for that situation.

The seller is going to want to be comfortable that you can “deliver” and close on the house that you are bidding on. Make sure that your agent presents your offer in the best possible light that will show competence. Clean up any financial complications as soon as you and before things get serious. If you are able to make a down payment, make it as large as possible.

The seller may throw in some contingencies that you weren’t expecting. Be prepared for that. If you really want the house, you may have to compromise and go along with a few things.

Try not to get too attached to one particular house or you may get your heart broken. Remember that there is always going to be another house.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net or call at 727 447-2418.

In 2018, the housing market experienced its fair share of up and downs, attributed to many factors, including affordability and inventory concerns. But as the year comes to an end, homebuyers will be walking into 2019 with more pep in their step.

Last week, amid U.S. stock market volatility, mortgage rates finally edged down. In fact, Freddie Mac revealed mortgage rates retreated to 4.75%, according to its Primary Mortgage Market Survey. This change should really help the market.

Interest rates hit 5% a month ago and rates have been going up for the last year, so that reduction is a big move in the market. Throughout 2018, both pending and home sales have fallen month over month.

Furthermore, homebuilder confidence continued to decline as interest rates proved to be a deterrence for many prospective homebuyers.

Refer Housing Wire article 12-10-18. “Builders report that they continue to see signs of consumer demand for new homes but that customers are taking a pause due to concerns over rising interest rates and home prices,” National Association of Home Builders Chairman Randy Noel said.

Despite these industry headwinds, Probasco said the recent decline in rates will create a competitive and attractive landscape for homebuyers.

Interestingly, Redfin reported that mortgage rates have driven migration from expensive coastal cities, increasing competition in affordable inland markets.

Probasco notes that going into the new year, housing market trends are likely to reflect similarities from 2018.

“For 2019, I expect to see a lot of similarities from 2018 into 2019,” Probasco said. “The majority of transactions in 2019 will be purchase, although there will still be some refinance.”

Interestingly, Probasco said there will also be an uptick in both home renovations and home equity lines of credit.

It’s worth noting that NerdWallet’s latest Home Improvement Report revealed that from 2015 through 2017, Americans spent $449.5 billion on home renovation projects. This number is likely to increase in the upcoming year as well.

“Mortgage rates have been rising for two years and lots of homeowners are locked into low rates they don’t want to give up by selling their current home, so they’re fixing up instead of moving up,” NerdWallet mortgage expert Holden Lewis said.

Overall, Probasco said going into 2019, homebuyers are likely to see slight increases in mortgage rates, but the current landscape of the housing market is favorable for homebuyers looking for a home.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net

If you are getting ready to buy a house and apply for a mortgage, the first question that you are probably going to ask yourself is should I get a 15 year or 30 year mortgage? Who doesn’t want to have their house paid off 15 years from now? But you may not have a choice. If the minimum house that you can live with requires a mortgage payment that you can’t afford on a 15 year term, you probably don’t have a choice. But for many people, there may be some things you could choose between.

Before You Begin, Consider Your Current Financial Situation

Before you take the plunge, please consider your current financial situation before applying for a loan:
•How much are you paid each month?
•What are your monthly debts and bills?
•What is your credit score?
•What are your savings and other investments?

A mortgage calculator can help you get an idea of how much you can afford per month, but always seek the help of a professional financial advisor and mortgage loan officer. They will help you understand your finances and find the right mortgage for you.

Always budget responsibly before taking on large financial burdens like a mortgage.

30 Year Mortgage: Lower Payments

If you opt for a 30 year mortgage, you will have lower monthly payments, but obviously a longer pay-off period. This option is a good choice if you plan on being in your home long term, for example, if you are a young family just starting out.

In fact, 30 year loans are considered the most popular. According to Investopedia, in 2015 more than 2/3 of all mortgage applications and 86% of all purchase applications were 30 year.

15 Year Mortgage: Less Interest

There is less interest on a 15 year mortgage, but your monthly payments will be larger than a 30 year. A 15 year mortgage can benefit you if you are close to retirement and do not want the responsibility of a mortgage in retirement.

30 Year Mortgage: More Investment In Personal Savings

Because your monthly mortgage payments are lower, a 30 year mortgage allows for more investment in your personal savings, as well as being able to pay off debts like student loans and credit cards.

By having a financial cushion from saving up, you can invest in other opportunities like home improvement or remain secure if your financial situation changes due to hardship like unemployment or illness.

15 Year Mortgage: Build Equity Faster

Since you will be paying more per month and in less time with a 15 year mortgage, you will have the advantage of building up your home’s equity faster than a 30 year mortgage. Then, you can use that home equity as you need, be it a home improvement or paying for college.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net

You’ve seen the ads on tv for home warranties. They sound like a good idea. However, if you’ve bought a home recently, you might have purchased or received a home warranty. However, consumers frequently expect more from these plans than they deliver. Refer Money Talk New March 20, 2018

Home warranties aren’t insurance policies. Instead, they are service contracts. Like a service contract that covers repairs to your computer, a home warranty is a company’s agreement to pay for fixing — and, if necessary, replacing — specified home components.

By comparison, a home insurance policy covers losses if your home and its contents are damaged or lost to theft, fire or other causes.

A basic home warranty costs about $350 to $500 a year or more. A warranty typically covers kitchen appliances, plumbing, water heater, heating and electrical system components, sump pump, whirlpool tub, and ceiling and exhaust fans, Angie’s List says.

“Enhanced” plans, purchased for another $100 to $300, provide added coverage for such things as a washer and dryer, air conditioning system, refrigerator and garage door opener. Optional coverage can be added, including for pools and septic systems.

You may be covered already

If someone gives you a home warranty, accept it — at least while it’s free. But understand that, even with someone else paying the premiums, you’ll likely pay a service fee — typically $50 or $75 — each time you need a repair, according to Angie’s List.

Before buying a home warranty, learn what coverage you may already have. For example, if you’re buying a newly built home, know that:
•The home appliances and systems typically have one-year warranties.
•Most states require builders to warranty the home’s structural elements for up to 10 years.

Also, when you buy new furnishings and appliances, use a credit card that extends the product’s warranty. That can add as much as an extra year of protection.

Is a home warranty right for you?

Sellers may offer a year of coverage as an incentive to home shoppers. Real estate agents sometimes give home warranties to clients as a thank you gift for purchasing a home. Some buyers of older homes find that a warranty gives them confidence.
Other homeowners decide they’re better off setting aside savings to cover home repairs and replacements.

One way to think about your needs: Compare the age of each covered item with its average life span. To do so, use the chart at the National Association of Certified Home Inspectors website.

With expensive components near or past their life expectancy, a home warranty might be a good idea. Components that have pre-existing problems, however, typically are excluded from protection.

Be sure to vet any company before purchasing a home warranty. Good resources include:
•Better Business Bureau
• Your state attorney general’s office: Find yours from the National Association of Attorneys General.
• Your state insurance commissioner: Locate yours with the National Association of Insurance Commissioners map. Although home warranties aren’t insurance policies, many states require companies offering warranties to register or be licensed by the state’s department of insurance.

Pros of home warranties

Buyers who purchase a previously owned home inherit used appliances and home systems with wear and tear. A home warranty can help cover the cost if things break down.

For example, if fire destroys your boiler, it might cost more than $10,000 to replace. A home warranty might cover at least a portion of the cost.

Cons of home warranties

However, for many homeowners, there is a wide gap between what the customer expects and what the plans deliver. Before buying a home warranty, read the contract and understand exactly what it does and does not cover. For example, some contracts will not provide coverage if:
•You didn’t maintain the appliance.
•The appliance was installed incorrectly.
•The appliance had too much wear and tear.

If you haven’t read the agreement carefully, be prepared for surprises. Don’t assume:
• Your policy will replace a faulty component. The warranty company might insist on repairing it instead.
• You can call your favorite service provider. Home warranties usually require you to use a contracted servicer.
• The warranty will cover the entire cost. In some cases, the warranty will cover just a fraction of the repair cost.

So, find out what’s covered and what the warranty provides. There may be exclusions and limitations. Perhaps the refrigerator is covered, but the ice maker is excluded. Claims might be rejected because of pre-existing problems or insufficient maintenance.

Learn who will perform the repair work. Also, find out if you can cancel the policy, and whether there is a period — such as 30 days — when you can get a “free look” at the program.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net

You have head on the news about interest rates heading up. If you are looking for a house, you are probably wondering about mortgage rates. After hitting a four-month low, Mortgage rates took some baby steps up, however, they continued to hover around the same range they have been all summer, a report by Freddie Mac indicated.

The 30- year fixed- rate mortgage averaged 4.52 percent last week, a slight improvement from the previous week when it averaged 4.51 percent. The 30- year fixed- rate mortgage averaged 3.82 percent, the same week a year ago.

In a press release by Freddie Mac, Sam Khater, its chief economist said, “The 30- year fixed- rate mortgage barely inched up this week, continuing the summer trend of essentially being flat.”

He added, “While sales and price growth have softened these last few months, this leveling of rates may be helping more buyers reach the market. Purchase mortgage applications this week were once again modestly above year ago levels.”

Down 1 basis point from the previous week, the 15- year fixed- rate mortgage averaged 3.97 percent this last week. The same week a year ago, the 15- year fixed- rate mortgage averaged 3.12 percent.

At a 3.85 percent average, the five-year Treasury- indexed hybrid adjustable- rate mortgage underwent the most change, moving up 3 basis points. The same week a year ago, the five- year adjustable- rate mortgage averaged 3.14 percent.

“Mortgage rates drifted upwards over the past week as financial markets rallied on news that the United States and Mexico have agreed to the broad outlines of a new trade agreement,” Zillow’s senior economist, Aaron Terrazas said.

As Rates Slip, Weekly Mortgage Applications Decline

Potential homebuyers have been left frustrated this summer by weakening affordability, a factor affecting the entire mortgage market.

According to the mortgage Bankers Association’s seasonally adjusted report, total mortgage application volume declined 1.7 percent in the last week, and was 15 percent lower than a year ago.

The mortgage business should have been boosted be it by a small margin by a drop in mortgage rates, but unfortunately it wasn’t.

The market experienced a decrease in the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453, 100 or less) from 4.81 percent to 4.78 percent, the lowest it has gotten since the week ending July 20, with points increasing from 0.42 to 0.46 (inclusive of the origination fee) for those loans whose down payment is 20 percent.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net

If you were going to hire an employee, you would probably do a background check. So maybe you should do the same thing when you get interested in a house. Of course, if you buy the house, the title company will protect you from any problems when you close. But perhaps you want to head off any problems by doing the research early.

What Records To Look For

When researching a home, it is highly recommended to research the following public records:
•Tax liens
•Warranty deeds
•Property tax records
•Foreclosures
•Date the home was built
•Past home prices

You can also determine if work was done on the property without a permit that could affect the square footage, price, and other details of the home. It is also recommended to research the neighborhood the home is in to make sure it is an area that meets your needs and is safe. The location of the home has a big impact on its value.

Check The Local City Or County Department

Your local city or county department like the courthouse is an excellent way to check a home’s public records like lien and tax information. While these records are public, you may have to fill out some paperwork and a knowledgeable employee will help you with your search.

Take Advantage Of Reputable Internet Resources

If you are not able to see a home’s public records online, reputable home search sites like Zillow and Realtor will have details like foreclosures, past selling prices, and improvements to the home listed. Just remember to tread carefully here—information on a home may not be up to date, so double check.

Ask Your Real Estate Agent

Your real estate agent is an excellent resource for checking a home’s public records and understanding what you need to keep an eye out for. They have access to their own in-depth resources like:
•MLS data
•Tax assessor records
•Title company databases

For MLS especially, when realtors become a realtor, they must activate their license and join their local MLS service so they can access property details, analyze market trends, and see home listings before they go on the market.

When researching a potential home, don’t be shy. Simply ask your agent and local courthouse or other appropriate party about the steps needed to access a home’s public record.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net

If you speak to any financial planners or so-called experts on the matter, they’ll probably say, “Yes, pay off your mortgage before you retire.”

But is it fair to make the same conclusion for all individuals? Probably not. And times are changing…

Most experts will tell you to extinguish the mortgage before you retire from your job because you’ll be on a fixed income with reduced cash flow.

The logic to burning the mortgage before you retire is that you’ll be on a fixed income and you’ll need to stick to a strict budget to ensure you have cash on hand for all your living expenses. And potentially even more to pay for medical care as you get really old.

There’s also the fear of losing your home because you can’t keep up with mortgage payments, the last thing any older retired individual would want to deal with.

Others may go even go a step further in saying that paying off a mortgage can lead to retirement, or help you retire faster and at a younger age.

While that might all be true, it’s certainly not an open and shut case as everyone’s situation is different.

The answer to the question really goes back to whether you think carrying mortgage debt is a good deal or not, relative to other options.

And if you’re the rational type who runs the numbers, or the emotional type who can’t handle any sort of debt overhang, whether it’s actually hurting you financially or not.

• The Trend Is Changing
• It used to be a standard rule to pay off the mortgage before retirement
• That pretty much wasn’t even questioned
• But times have changed as have down payments

And many homeowners are carrying mortgage debt into their 70s and beyond

Back in the day, it was common to pay off the mortgage in full before retirement. Of course, at that time mortgage interest rates may have been in the double-digits, making them quite a burden.

This left homeowners with few winning investment alternatives able to beat that rate of return. By that, I mean if your mortgage rate was set at 14%, you’d have to find an investment that yielded more than 14% to not allocate extra dollars to your home loan balance.

Today, mortgage rates are near their all-time lows, with many existing homeowners now holding onto rates in the 2-3% range.

For these homeowners, it’s actually very easy to beat that rate of return, even if the stock market doesn’t yield stellar returns year after year. And even if we experience another recession and see the price of equities and other investments fall.

This might explain why fewer and fewer retirees and near-retirees are making it to the finish line with a free and clear mortgage.

• While it used to be the norm
• The numbers seem to be dropping
• With fewer than half of Baby Boomers
• Mortgage-free in retirement
   

  There are countless surveys and studies that reveal this, including one from mortgage financier Fannie Mae that revealed fewer than half of Baby Boomer owner-occupants aged 65 to 69 in 2015 were mortgage-free.And while some younger homeowners are actually experiencing higher levels of free and clear homeownership, their future projections are also negative.

  They anticipate that 51.8% of Boomer homeowners born between 1951 and 1955 will be mortgage-free when they reach 65-69 years of age in 2020.

  This compares to a 59.8% rate for those born between 1931 and 1935 who were aged 65 to 69 in the year 2000.

  Another recent survey from mortgage banker American Financing found that 44% of 60- to 70-year-old homeowners will retire while still holding a mortgage.

  Additionally, 32% of respondents expect it to take another eight years to pay the darn thing off. What’s worse, some 17% of respondents said they may never pay it off in full. See top image above for more on that.

  So it’s clear that the trend of paying off all your debt before retirement is weakening, perhaps due to increased household debt, overspending, the prevalence of low-down payment mortgages (who still puts 20% down on a home purchase?), poor planning, and so on.

  Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net

Thanks to BankRate June 6, 2018. Mortgage rates move higher as loan applications jump. A week after falling 16 basis points, the benchmark 30-year fixed-rate mortgage rose this week to 4.70 percent from 4.64 percent, according to Bankrate’s survey of large lenders. The 15-year fixed-rate mortgage also rose, climbing 9 basis points to 4.16 percent.
A week after falling 16 basis points, the benchmark 30-year fixed-rate mortgage rose this week to 4.70 percent from 4.64 percent, according to Bankrate’s survey of large lenders. The 15-year fixed-rate mortgage also rose, climbing 9 basis points to 4.16 percent.

Applications rise as inventory remains tight

Meanwhile, mortgage applications increased 4.1 percent last week compared with the week before, according the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.

“Purchase applications increased over the week and were 9 percent higher than the same week a year ago, a sign that despite tight housing inventory, purchase activity in 2018 remains stronger than in 2017,” says Joel Kan, associate vice president for economic and industry forecasting at MBA.

Last week’s dip in mortgage rates contributed to the spike in loan applications, says Greg McBride, CFA Bankrate’s chief financial analyst.

“Mortgage applications increased in response to the previous week’s pullback in mortgage rates,” McBride says. “Would-be borrowers that were on the fence saw that as the opportunity to jump in.”

Mortgage rates this week

The benchmark 30-year fixed-rate mortgage rose this week to 4.70 percent from 4.64 percent, according to Bankrate’s weekly survey of large lenders. A year ago, it was 4.04 percent. Four weeks ago, the rate was 4.74 percent. The 30-year fixed-rate average for this week is 0.10 percentage points below the 52-week high of 4.80 percent, and is 0.75 percentage points higher than the 52-week low of 3.95 percent.

The 30-year fixed mortgages in this week’s survey had an average total of 0.30 discount and origination points.

Over the past 52 weeks, the 30-year fixed has averaged 4.27 percent. This week’s rate is 0.43 percentage points higher than the 52-week average.
•The 15-year fixed-rate mortgage rose to 4.16 percent from 4.07 percent.
•The 5/1 adjustable-rate mortgage rose to 4.11 percent from 4.04 percent.
•The 30-year fixed-rate jumbo mortgage rose to 4.60 percent from 4.51 percent.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net

A new home loan program is being rolled out this July by Freddie Mac, known as “HomeOne Mortgage,” which features a 3% down payment and no income restrictions.

While Freddie Mac already offers a similar 3% down program via its Home Possible Advantage loan, this new product doesn’t restrict borrower eligibility by income or geography.

To accompany this launch, the existing Home Possible line of mortgages will see their income limits revised (capped) to 100% of area median income (AMI) for all loans other than those in low-census income tracts.

This is being done to better serve low- and moderate-income borrowers via that program.

In other words, HomeOne will be a broader 3% down home loan program, though the underwriting requirements are fairly similar.

Let’s learn more about this exciting new home loan financing option.

Freddie Mac HomeOne Requirements
Must be an owner-occupied property
Includes 1-unit single-family residences, condos and townhouses
Must be a purchase transaction or rate and term refinance (no cash out)
At least one borrower must be a first-time home buyer
If all borrowers first-timers, must complete homeownership education
Max loan-to-value ratio (LTV) of 97%
Must be a fixed-rate mortgage
At least one borrower must have a usable credit score

The highlight of the new HomeOne loan program is its 3% minimum down payment, along with the lack of income restrictions. They actually allow a combined loan-to-value (CLTV) of 105% if you use an Affordable Second mortgage to go with it.

But most home buyers will probably be limited to 97% LTV, meaning a 3% down payment will be necessary.

The property must be a primary residence, one you intend to occupy, and it is limited to one-unit single-family residences, or condos and townhouses. No manufactured houses are allowed.

A usable credit score is required, and I suspect the minimum credit score will be 620. This differs from the Home Possible program, which allows an LTV up to 95% without a credit score.
First-time buyers account for nearly half of home purchases
HomeOne aims to help more of these borrowers achieve their goals
By eliminating the large down payment generally required
And no minimum borrower contribution is necessary

The goal of HomeOne is to get more first-time home buyers in the door, literally. As such, at least one borrower must be a first-time home buyer, generally defined as not owning a residential property in the prior three years.

Aside from the relatively easy 3% down payment, my understanding is that no minimum borrower contribution is required. That means gift funds can be used for down payment and closing costs, and no reserves are required.

However, if all borrowers on the loan are first-time buyers, they must participate in a homeownership education course.

Freddie Mac offers a free online program known as CreditSmart, though borrowers may also use other acceptable programs as well.

If you already have a mortgage that is owned or securitized by Freddie Mac, you can also refinance your loan via HomeOne, as long as you don’t take any cash out.

In either case, the loan amount will be maxed out at the conforming loan limit – no so-called super conforming mortgages are permitted.

Additionally, the loan program is limited to fixed-rate mortgages, so no adjustable-rate mortgage options are available. And the maximum loan term is 30 years.

HomeOne will require the borrower to pay private mortgage insurance, and LTVs greater than 95% will require standard coverage of 35%.

Lastly, the mortgage must be automatically underwritten via Freddie Mac’s Loan Product Advisor underwriting system with a Risk Class of “Accept.” No manual underwriting is permitted.

Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, St Petersburg and Tampa Bay area. For more information, go to her web site at www.ClearwaterMortgageBroker.net.