100% financing is a popular mortgage option for first time homebuyers.  Recently the  Rural Development program offered 100% financing.  Unfortunately the money available for the Rural Development program dried up.  There is second option for 100% financing.  It is the CHIP program, Community Homeownership Incentive Program.  CHIP allows home buyers to obtain a 100% mortgage in non-declining real estate markets.  [...]

As the tax credit comes to a close we are getting a lot of questions about it. Ken Malinowski, a Mortgage Advisor with PHH Mortgage in Charlottesville, sent us some great information to pass around to our clients. It covers the following topics and questions. Feel free to drop us a line if you have [...]

Ken Malinowski, Mortgage Advisor with PHH Mortgage Services, sent our client these very helpful tips to Improve Your Credit Score. These tips benefit everyone, even those without credit problems. These tips come directly from MyFico.com. Feel free to drop us a line if you have a specific credit question. Maggie@GunnelsGroup.com or 434-960-8987 Improving Your Credit Score [...]

Are you thinking of selling your Charlottesville home as a short sale?  If you answer yes to this question make sure to read the below information before you begin the short sale process.  It could potentially save you time and money.  Do you know someone considering to pursue a short sale?  Please send them this link.   What is [...]

This time last year we were coming out of one of the worst financial and real estate situations the Charlottesville area has ever experienced. Home sales and home values were down. Most economists were predicting a slow start to 2009, and boy were they right! Although they predicted a slow start, they also predicted that 2009 would [...]

Here is a comparison of mortgage rates from the beginning of December to the end of December.  The charts show that the 30 Year Conventional mortgage rates increased 0.6% in 4 weeks.  It’s important to remember that rates are still low at 5.275%.  If you are buying a home or refinancing a home, make sure [...]

Most buyers are keeping a close eye on mortgage interest rates, especially as the $8000 tax credit winds down to a close. Below is an update on rates. We are lucky in the Charlottesville area because we have several quality local lenders to help with your mortgage. Let me know if you need a lender referral. [...]

Rates are heading south. Here are the mortgage rate changes for Thursday, March 19, 2009. Hopefully the sun will come out soon! It’s so nice to feel spring weather in Fluvanna. MBS 30-Year Conventional Lower ~ 4.667 with 1 point FHA Programs Lower ~ 4.750 with 1 point VA Programs Lower ~ 4.781 with 1 [...]

What are mortgage rates doing today, March 18 2009? MBS 30-Year Conventional Relatively Unchanged ~ 4.850 with 1 point  FHA Programs Relatively Unchanged ~ 4.938 with 1 point VA Programs Relatively Unchanged ~ 4.958 with 1 point ** Just a reminder that rates can change without any notice.

What have mortgage rates done today, Tuesday March 17, 2009?   MBS 30-Year Conventional Relatively Unchanged ~ 4.850 with 1 point  FHA Programs Relatively Unchanged ~ 4.937 with 1 point  VA Programs Relatively Unchanged ~ 4.958 with 1 point  ** Just a reminder that rates are subject to change without any notice.