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phone: (314) 740-0004
mobile: (314) 740-0004
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Ted Rood
Home Mortgage Loan Advisor,  First Bank
1 First Missouri Center
St Louis,  Missouri  63141
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"I didn't write it!"    View Comment
"The most surprising thing here is that ARM rates are scarcely lower than fixed these days, only .25-.375% in most cases. I wrote a LOT of ARMs when they were .75% or more below fixed rates, but haven't seen any borrowers recently who opted for ARMs."    View Comment
""NAHB basis its estimates on the sum of the mortgage payment including escrows. This total cannot be more than 28 percent of monthly gross household income, the standard used in underwriting conventional mortgage loans" Fannie Mae and FHA allow front end ratios of up to 45%. That's a HUGE difference from 28%, rendering all conclusions based on the 28% number completely meaningless."    View Comment
"Gotta love it when non-mortgage peeps crunch mortgage numbers. "NAHB basis its estimates on the sum of the mortgage payment including escrows. This total cannot be more than 28 percent of monthly gross household income" 28% is hardly the maximum front end debt ratio. NAHB needs to consult with actual mortgage lenders before their economists put out erroneous information like the projections presented here."    View Comment
"There's a lot of info to digest here. I agree that high-score borrowers are often more apt to refinance when rates drop, and less likely to when rates rise. Guess having good money management skills and high scores just go together!"    View Comment
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