Friday, September 15, 2006

5.625% mortgage interest in New Orleans

Stacy Head sent out an email reporting that The Finance Authority of New Orleans is offering:

... mortgage interest rates as low as 5.625%. Our home mortgage loan program is designed to help you renovate your home, purchase a new home, or purchase and renovate an existing home in Orleans Parish. This mortgage loan program is not limited to the first-time homebuyer and is available for all income groups. All of our loans are 30 year fixed rate mortgages.


At 9/18/2006 09:49:00 AM, Anonymous Scott Harney said...

Obtaining loan approval is fairly easy. Try and get insurance coverage though.... You can't get that loan without insurance so it really doesn't matter what the rate is. The insurance companies will kill any chance of reasonable recovery. Talk to local real estate agents. They'll tell you what's happening.

At 10/24/2006 10:31:00 AM, Blogger MortgageTop said...


I recently published an article on mortgage loans, tips on how to make them work for you and other forms of mortgage financials – here is a quote from it, in case you are interested:

Smell a Good Deal for a Real Estate – Try to discover a property that has already got some equity in it, when you purchase it. Equity represents the value of a real estate, a property after you have paid any mortgage or other charges relating to it.

Try to Get a Second Mortgage on the Real Estate – You could try to be more creative and ask the seller whether he would be willing to have a second mortgage on that home. Thus you could set up an agreement with the seller through which you will have to pay monthly an approximate sum of $200, for instance, on $15,000 of the price of the real estate (plus or including the interest rate), for the second mortgage.

Save Some Money to Pay in Advance – Some lenders might give you a full credit if you come with at least a small percentage of the sum. This would grant you supplementary points for getting the credit and would also lower the interest rate – e key point of any mortgage refinance program.

Don’t Give up, Go Further – don’t trust the first broker who tells you that there is no hope for you. You will finally find someone who could offer a viable solution, just keep asking and searching. An alternative is to apply online to mortgage services. Thus your application would be seen by more lenders and you might get more offers to analyze your solvency.

Improve Your Present Credit Score – by not applying to credit cards, auto loans or other loans, if possible. Too many inquiries would also affect credit scores. Another important thing you should do to improve your credit scores is to acquit your current duties and payments on time.

If you feel this help, please drop by my website for additional information, such as mortgage calculators or additional resources on mortgage loans.




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