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- 1st Time Buyers (2)
- First Federal News (7)
- Programs (2)
- Rates (6)
- Ruoff Industry Insider (1)
- 26. May 2010: Mortgage Rates for the week of 5/25/2010
- 19. May 2010: Mortgage Rates for the week of 5/19/2010
- 13. May 2010: Borrower Checklist: What's required to apply for a home loan?
- 12. May 2010: Mortgage Rates for the week of 5/11/2010
- 28. April 2010: Mortgage Rates for the week of 4/27/2010
- 22. April 2010: Mortgage Rates for the week of 4/20/2010
- 17. April 2010: Mortgage Rates for the week of 4/13/2010
- 6. March 2010: Mortgage Market News for the week ending March 5, 2010
- 5. March 2010: 1st Time Buyer Program! Community Home Buyer's Corp Community Development
Mortgage Rates for the week of 5/25/2010
26. May 2010 by admin.
From the desk of:
Maribeth Roncz
Loan Officer
First Federal Savings Bank
906 W Edison Rd. Mishawaka, IN 46545
Interest Rates and Annual Percentage Rates (APRs) are effective as of: 05/25/2010
| FIXED RATES | 0 points | APR * | 2 points | APR * |
|---|---|---|---|---|
| 30 YEAR | 4.875 | 4.912 | 4.375 | 4.586 |
| 20 YEAR | 4.750 | 4.801 | 4.250 | 4.303 |
| 15 YEAR | 4.375 | 4.443 | 3.875 | 4.245 |
| 10 YEAR | 4.250 | 4.349 | 3.750 | 4.282 |
| ARM RATES | 0 points | APR ** |
|---|---|---|
| 3/1 ARM | 4.250 | 3.415 |
| 5/1 ARM | 4.375 | 3.607 |
| 7/1 ARM | 4.625 | 3.863 |
| 10/1 ARM | 4.875 | 4.262 |
| FHA RATES | 0 points | APR ** |
|---|---|---|
| 30 Years | 5.375 | 5.412 |
| 20 Years | 5.250 | 5.301 |
| 15 Years | 4.750 | 4.820 |
FHA Mortgage Loan - A borrower does not have to have perfect credit to qualify for an FHA mortgage. And FHA has many options to help borrowers stay in their home and avoid foreclosure.
Interest rates are subject to change at anytime and may be subject to additional fees, including delivery fees, depending on the loan program selected, LTV, credit history, and additional underwriting characteristics.
| **Buy a Home** | **Buy a Condo** |
Posted in First Federal News, Rates | Print | No Comments »
Mortgage Rates for the week of 5/19/2010
19. May 2010 by admin.
From the desk of:
Maribeth Roncz
Loan Officer
First Federal Savings Bank
906 W Edison Rd. Mishawaka, IN 46545
Interest Rates and Annual Percentage Rates (APRs) are effective as of: 05/19/2010
| FIXED RATES | 0 points | APR * | 2 points | APR * |
|---|---|---|---|---|
| 30 YEAR | 5.000 | 5.038 | 4.500 | 4.713 |
| 20 YEAR | 4.875 | 4.925 | 4.375 | 4.665 |
| 15 YEAR | 4.375 | 4.443 | 3.875 | 4.245 |
| 10 YEAR | 4.250 | 4.349 | 3.750 | 4.282 |
| ARM RATES | 0 points | APR ** |
|---|---|---|
| 3/1 ARM | 4.250 | 3.415 |
| 5/1 ARM | 4.375 | 3.607 |
| 7/1 ARM | 4.625 | 3.863 |
| 10/1 ARM | 4.875 | 4.262 |
| FHA RATES | 0 points | APR ** |
|---|---|---|
| 30 Years | 5.375 | 5.412 |
| 20 Years | 5.375 | 5.425 |
| 15 Years | 4.750 | 4.820 |
FHA Mortgage Loan - A borrower does not have to have perfect credit to qualify for an FHA mortgage. And FHA has many options to help borrowers stay in their home and avoid foreclosure.
Interest rates are subject to change at anytime and may be subject to additional fees, including delivery fees, depending on the loan program selected, LTV, credit history, and additional underwriting characteristics.
| **Buy a Home** | **Buy a Condo** |
Posted in First Federal News, Rates | Print | No Comments »
Borrower Checklist: What’s required to apply for a home loan?
13. May 2010 by admin.
From the desk of:
Maribeth Roncz
Loan Officer
First Federal Savings Bank
906 W Edison Rd. Mishawaka, IN 46545
Borrower Checklist
Actually, no documents are required from you at the time of application. But to speed up the loan processing time, you can prepare for the application appointment by providing the following information:
- List of all previous addresses for the past 2 years
- Social Security Number(s)
- Divorce decree, if applicable
Income Verification
- W-2 forms for the previous 2 years
- Employment information for the previous two years including name, address, and phone number
- Copy of most recent pay stub(s) for one month
- Award letter for Social Security, and 1099 for disability income
- If rental income, commission, interest, or income other than salary, tax returns may be required
- If Child Support/Alimony a court printout showing 12 months history
- If Self-Employed a signed completed tax return for the past 2 years, including personal, partnership and corporate if applicable and all schedules. Also, a Business profit and loss statement year-to-date for current year if more than three months have passed since the end of the tax year
Asset/Liability Information
- Copy of bank statements for the previous 2 months, including savings, checking and investment accounts
- Stock and securities account statements for the previous 2 months
- HUD settlement statement if using funds from the sale of property for down payment
- List of other assets including life insurance, retirement funds, automobiles, etc.
- List of all open credit accounts, i.e. charge accounts, open loans including account numbers, payment amounts and balances
- Account number, name and address of current mortgage holder or landlord
- List of all real estate owned including property address, market value, outstanding liens, rental income, mortgage payment, etc.
Property Information
- Signed purchase agreement including legal description
- If new construction - year land/lot acquired, original cost of land/lot, amount owed on land/lot, and a signed Contract
- If refinance - year property acquired, original cost of home, cost of improvements, amount owed on property, and description of improvements
An application deposit will be requested at time of application. This non-refundable deposit will be applied toward closing costs.
| **Buy a Home** | **Buy a Condo** |
Posted in First Federal News, 1st Time Buyers, Programs | Print | No Comments »
Mortgage Rates for the week of 5/11/2010
12. May 2010 by admin.
From the desk of:
Maribeth Roncz
Loan Officer
First Federal Savings Bank
906 W Edison Rd. Mishawaka, IN 46545
Interest Rates and Annual Percentage Rates (APRs) are effective as of: 05/11/2010
| FIXED RATES | 0 points | APR * | 2 points | APR * |
|---|---|---|---|---|
| 30 YEAR | 5.125 | 5.167 | 4.625 | 4.839 |
| 20 YEAR | 5.000 | 5.052 | 4.500 | 4.790 |
| 15 YEAR | 4.500 | 4.568 | 4.000 | 4.370 |
| 10 YEAR | 4.375 | 4.473 | 3.875 | 4.407 |
| ARM RATES | 0 points | APR ** |
|---|---|---|
| 3/1 ARM | 4.375 | 3.443 |
| 5/1 ARM | 4.500 | 3.652 |
| 7/1 ARM | 4.750 | 5.477 |
| 10/1 ARM | 5.000 | 4.343 |
| FHA RATES | 0 points | APR ** |
|---|---|---|
| 30 Years | 5.500 | 5.537 |
| 20 Years | 5.500 | 5.548 |
| 15 Years | 4.875 | 4.939 |
FHA Mortgage Loan - A borrower does not have to have perfect credit to qualify for an FHA mortgage. And FHA has many options to help borrowers stay in their home and avoid foreclosure.
Interest rates are subject to change at anytime and may be subject to additional fees, including delivery fees, depending on the loan program selected, LTV, credit history, and additional underwriting characteristics.
| **Buy a Home** | **Buy a Condo** |
Posted in First Federal News, Rates | Print | No Comments »
Mortgage Rates for the week of 4/27/2010
28. April 2010 by admin.
From the desk of:
Maribeth Roncz
Loan Officer
First Federal Savings Bank
906 W Edison Rd. Mishawaka, IN 46545
Mortgage Loan Interest Rates
Interest Rates and Annual Percentage Rates (APRs) are effective as of: 04/27/2010
| FIXED RATES | 0 points | APR * | 2 points | APR * |
|---|---|---|---|---|
| 30 YEAR | 5.250 | 5.288 | 4.750 | 4.965 |
| 20 YEAR | 5.125 | 5.176 | 4.625 | 4.916 |
| 15 YEAR | 4.625 | 4.690 | 4.125 | 4.494 |
| 10 YEAR | 4.500 | 4.597 | 4.000 | 4.532 |
| ARM RATES | 0 points | APR ** |
|---|---|---|
| 3/1 ARM | 4.500 | 3.472 |
| 5/1 ARM | 4.625 | 3.699 |
| 7/1 ARM | 4.875 | 3.400 |
| 10/1 ARM | 5.125 | 4.430 |
| FHA RATES | 0 points | APR ** |
|---|---|---|
| 30 Years | 5.625 | 5.661 |
| 20 Years | 5.500 | 5.548 |
| 15 Years | 4.875 | 4.939 |
FHA Mortgage Loan - A borrower does not have to have perfect credit to qualify for an FHA mortgage. And FHA has many options to help borrowers stay in their home and avoid foreclosure.
Interest rates are subject to change at anytime and may be subject to additional fees, including delivery fees, depending on the loan program selected, LTV, credit history, and additional underwriting characteristics.
Posted in First Federal News, Rates | Print | No Comments »