Mortgage Rates fall for 4th week in a row

The benchmark 30-year fixed-rate mortgage fell to 6.16 percent, according a national survey of large lenders. The mortgages in this week's survey had an average total of 0.29 discount and origination points. One year ago, the mortgage index was 6.43 percent; four weeks ago, it was 6.32 percent.

Midwest Mortgage can help you take advantage of these great rates.

Contact Midwest Mortgage for more details.

Refinancing mortgage

Mortgage rates over the past couple of years have been quite inviting -- hovering between 5 and 6.5 percent. Rates have slowly moved up, but remain a bargain. If you haven't considered a refi, the time is now. You could reduce your monthly overhead, get rid of PMI or even use a cash-out to remodel your home or ditch high interest debts.

Midwest Mortgage can provide you with the right program to lower your monthly payment.

Please contact us for more information.

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Low Mortgage Rates

Great interest rates are still out there and your money goes further today than it ever has with the current price of housing. It's a great time to use the two together to be able to move into the home of your dreams and still stick to your budget.

Contact Midwest Mortgage to discuss all of your options.

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Mortgage Rates Lower For First Time In 2007

Mortgage rates ratcheted down last week according to the results of Freddie Mac's Primary Mortgage Market Survey. Rates have generally been on an upward trajectory since the mid December.

The 30-year fixed-rate mortgage (FRM) averaged 6.28 percent last week compared to 6.34 percent a week earlier while the 15-year FRM was 6.02 percent, four basis points lower than the week ended February 1. Fees and points for both FRMs were unusually low at 0.3 compared to 0.4 the week before. This time last year the average contract rate for the 30-year FRM was 6.24 percent and the 15-year was 5.83 percent.

To take advantage of these low rates please contact us at Midwest Mortgage.

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Leverage a low Debt-to-income ratio with your credit score

Your debt-to-income ratio is exactly what it sounds like: the amount of debt you have compared to your overall income.

To calculate your overall debt-to-income ratio add up all of your monthly debt. Take this total and divide it by your gross monthly income from all sources.

While debt-to-income ratios don't have the kind of buzz that credit scores do, they can play a key role in determining if you qualify for a loan and how much you can get.

While other factors, such as your credit score and length of time in your home or job, will come into play into this equation, a good debt-to-income ratio can give you leverage to negotiate if other factors aren't in your favor.

To learn more or to get a great rate online contact us at Midwest Mortgage

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Lower your mortgage payments while you still can!

Mortgage rates rose a for the sixth time in seven weeks as investors agreed to look on the bright side of the economic picture.

Make sure you lock into one of today's great rates before it is too late.

Please contact us for details.

Midwest Mortgage

30 Year Fixed Rate with a Payment Option

Midwest Mortgage is now offering a mortgage with a 30 year fixed rate along with the flexibility of payment options that an option arm provides! Lock into a great rate and still enjoy different payment options on a month to month basis.

Contact us for more details and how to enjoy the best of both worlds.

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Mortgage after Bankruptcy

Many people believe that once they file for bankruptcy they will have a difficult time getting a mortgage loan. However, there is still hope for being approved even with a recent bankruptcy. If you have bad credit and apply for a mortgage loan, more emphasis will be placed on your income your down payment.
You do not have to wait two years

Most lenders prefer to wait until two years after your bankruptcy before considering a person for a mortgage loan. After these two years, it should be relatively easy to get financing. In addition, you will probably be able to get one hundred percent financing. This will happen as long as all your payments have been reported as on time to the credit bureau since your bankruptcy.
We can help you

Midwest Mortgage will assist you in selecting a program that will fit your needs and may be able to help you look at certain programs that do not require you to wait 2 years. Please contact a Midwest Mortgage consultant and have them show you which programs are available.

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2007 - The year to get out of your current ARM

With current interest rates hovering around 6 percent, and the average adjustable rate mortgage payment skyrocketing, start out 2007 with a money saving refinance. If you are looking for a 30 or 40 year fixed, a pick a payment mortgage with a fixed rate, or would like to get another adjustable rate mortgage, we are here to help.

We have great rates and some amazing programs to get your payment where you want it to be.

Please contact us at Midwest Mortgage and join our family.

Midwest Mortgage