A Quarter; One fourth, two eighths, 0.25%, half of a half, four bits, 25 basis points, one in Four, one of four, twenty five cents, more than a little and less than a lot. In the mortgage world, a quarter of a percent can be the difference in hundreds of dollars in interest, in cost, in savings, in broker compensation, in rate. It can be the straw that blows your "back-end ratio" out of the water and prohibits you from refinancing or qualifying for a new loan. It's also about the same number of homes that are expected to get closed upon in the United States between now and 2009. That's a lot. Too many. Even if your little piggy built his house of straw, it's time to take action to secure your loan before rates skyrocket and you're left without a home and wish you had a quarter in your pocket. Pat Townsley, Mortgage Advisor. California Mortgage Advisors, Inc. 415-485-1776. www.LoansForMarin.com. Your referrals are appreciated!
Wednesday, June 25, 2008
What's a Quarter?
A Quarter; One fourth, two eighths, 0.25%, half of a half, four bits, 25 basis points, one in Four, one of four, twenty five cents, more than a little and less than a lot. In the mortgage world, a quarter of a percent can be the difference in hundreds of dollars in interest, in cost, in savings, in broker compensation, in rate. It can be the straw that blows your "back-end ratio" out of the water and prohibits you from refinancing or qualifying for a new loan. It's also about the same number of homes that are expected to get closed upon in the United States between now and 2009. That's a lot. Too many. Even if your little piggy built his house of straw, it's time to take action to secure your loan before rates skyrocket and you're left without a home and wish you had a quarter in your pocket. Pat Townsley, Mortgage Advisor. California Mortgage Advisors, Inc. 415-485-1776. www.LoansForMarin.com. Your referrals are appreciated!
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