Nashville Real Estate Forum

Weekend Market Update

Sept. 12-13, 2009

United Funding Group has been rated the top mortgage loan broker in the state of Tennessee for the lowest rate of FHA mortgage delinquencies, according to HUD.

Compared to all institutions, including banks, we are No. 3 in the state (16% delinquency rate), behind only Bancorp South (13%) and Greenbank (14%) and ahead of everybody else, which includes all of the regional banks---U.S. Bank, SunTrust, First Tennessee, Regions, Wells Fargo, Wachovia---and the national institutions such as Citibank, J.P. Morgan Chase and Countrywide (at 88%, for example)---and the smaller banks, such as Pinnacle and Renasant, and every mortgage broker in the state, including Dave Ramsey's Churchill Mortgage (46% delinquency rate), Franklin American at 62% and People’s Home Equity.

What this means for Realtors, builders and consumers is that we do our job right. It means our borrowers get good deals from us and get placed in the right loan products that they can afford. It means our borrowers are less likely to face foreclosure.

It means that Realtors, builders and borrowers are less likely to have criminal or civil audits come back on them because we processed the files honestly and correctly in the first place.

Given the choice, who do you want to do business with?

Now is the time for action for any first-time homebuyers. A first-time homebuyer, for mortgage loan purposes, is defined as someone who has not owned a home in the last three years. The $8,000 in free money from the U.S. Treasury will come to those who close a sale of a home by Nov. 30, 2009.

Repeat: Now is the time. Please call me if you have any questions or if you want to get pre-approved into the optimum loan program for your unique situation. My pre-approval letter and follow-up with your seller or seller’s agent will help you negotiate a better price and terms. Do not underestimate how critical this is. Call me.

Stocks closed up for the week while pulling back slightly on Friday. The 10-year Treasury closed at a yield of 3.34%. Mortgage interest rates declined for the week.

30-Year Conventional Fixed
4.875%   $200,000-$417,000

FHA-100% VA
5.25%   $100,000-$393,300

100% Guaranteed Rural Housing w/no MI

6%   $100,000-$417,000

30-Year Jumbo Fixed

6% $417,001-$1,000,000

30-Year Jumbo 5/1 ARM (15% down, No MI)

5.25% $417,001-$900,000

(Interest-only available—Call me)

Call for free pre-approval and to discover

the best financing for you!

...by Gary Moore

Cell: 615-579-8658  Toll-free fax: 866-321-6513

“We are here on Earth to do good to others. What the others are here for, I don't know.”

--W.H. Auden (1907-1973)

Visit my real estate website:

http://www.REALCarte.com

Visit my mortgage website:

http://www.BrentwoodHomeLoan.com

(0% points, 1% origination, subject to program and lock period. Market Update informs on market trends and is not a quote for a unique borrower.)