A new client contacted me this week and asked--"Are you an approved lender for the $8,000 first time home buyer tax credit?" Interesting question. The fact of the matter is, the mortgage professional you work with does not make a difference in qualifying for the credit! But, working with a true mortgage professional (rather than a "mortgage guy") will make a difference in how the whole process goes for you!
The next few posts here will help you choose the right mortgage professional. Today's tip:
Ask the following question: What are mortgage interest rates based on?
The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators!
About Me
- Peter Kazaks
- Peter brings his background in residential real estate, business, and ethics to his mortgage consulting practice. A lifelong Wisconsin resident, Peter has lived in the Milwaukee area for thirteen years, and holds a law degree from Marquette University. Peter has experience running a small business, and previously worked in ethics and compliance for a Fortune 500 health care company. His knowledge of real estate and business will benefit you in securing financing for your home or investment property.