Home Property Values Went Up and Interest Rates Stayed Down


Ringing In The New Year for Home Mortgage Loans

Wow what a year I’m glad 2012 is over but at the same time I’m sad it went by so fast, it was a roller coaster year, property values went up and interest rates stayed down for the most part.

There are some major changes coming up in the market, we are still short on inventory for homes which is driving the prices up a little. If you’re looking to sell and move-up into a nicer home or if you’re a first time home buyer now is still the time to jump in and get going.

We still have great loan programs that you can take advantage of for FHA, you just need a 620 score 3.5% down and closing cost. Rates are still in the three’s so call me! Next they didn’t change the tax laws yet which means that you will still be able to write off that mortgage interest on your taxes! This coming year.

For those of you who wish to refinance, now is the time, you can do a FHA streamline with your current FHA mortgage if you took your loan out before June 2010 your MI rate will be grandfathered in, so it’s just .55% for you. But don’t forget you may also be able to do a fixed conv. Refi and not have MI any more if you have 20% or more equity.

What I’m trying to tell you is 2013 is not the year to sit back and wait, rates can’t stay this low give yourself time by checking into it now, it’s the old Boy Scout saying of Be Prepared!  On are next blog look for some great tips on how to get your home ready for the appraisal to see!


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This is not a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant¹s eligibility and market conditions. Refinancing an existing loan may result in total finance charges being higher over life of loan. Reduction in payments may reflect longer loan term. Terms of the loan may be subject to payment of points and fees by the applicant. Equal Housing Lender. Utah Mortgage Loan Corporation. Serving you in: Salt Lake City, Utah

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