Christina Lazrak - mistakes to avoid with your mortgage application

Wondering why your loan application was turned down ? Very often, I am approached by Chelmsford condos and home buyers, and hear that their mortgage application was rejected. Often times, these Chelmsford homeowners were pretty sure they had the paper work in order and were busy browsing through the Chelmsford open houses and property listings.They were busy touring open houses in the Chelmsford, Tewksbury area. Then, they recieve the news about their mortgage application.

Here are some common mistakes to avoid in your mortgage application. contact me if you need some assistance with your application process or selecting a loan consultant that can help you.

Nine Mortgage Mistakes to Avoid | Fox Business

Boston Homeowners - are you having challenges with loan approvals?

Here are some great suggestions on creating a perfect loan file for refinancing or your first home purchase:

Is assembling the loan file becoming a challenge?

 Here is the secret to the perfect loan :


it’s one that (a) pays back the lender and (b) pays back the lender on time. Underwriting the perfect loan is not the goal that mortgage lenders aspire to today.

The real goal is the perfect loan file! For more on this article from Mark Greene of Forbes Magazine - the perfect Loan File

For help listing or finding your home, contact Christina LoNigro RE/MAX New England

When is a good time to refinance your home?

Good news for those who are considering their refinance options ! From the WSJ Weekend edition on March 23,2012 :

The average rate for a 30-year fixed-rate mortgage climbed to 4.08% for the week of March 22, up from the record low of 3.87% it hit in February, according to Freddie Mac. Rates on 15-year loans were up to 3.30% last week from the record low of 3.13% reached earlier in March.

Freddie Mac, Fannie Mae and the Mortgage Bankers Association all are projecting that rates will keep ticking higher this year and beyond. Freddie Mac and the Mortgage Bankers Association predict the average rate on a 30-year fixed-rate mortgage will reach 5% next year.

The biggest culprit in rising rates: the spike in yields on 10-year Treasury notes over the past two weeks, which mortgage rates generally track, says Mr. Nothaft. This comes as investors who stashed their money in Treasurys as a safe haven are beginning to sell and move into riskier holdings now that the U.S. stock market and European economy are looking a bit healthier.

While rates still are below where they were a year ago, some economists say they are likely to keep rising throughout 2012 and into 2013. That means your window of opportunity to lock in a rock-bottom rate might be closing soon. For more from the WSJ :  full article is here