John Lemos's (jplemos) Blog

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Mortgage and Lending - Movement Mortgage NMLS# 39179 - NMLS# 613321
RECENT BLOG POSTS
NEW CONSTRUCTION STRONG AND STEADYHousing Starts came in at 1.246M in January. This was slightly better than expectations of 1.232M. December's data was also revised higher from 1.226M to 1.279M. Permits came in at 1.285M which also beat expectations. December's data was also revised higher from ...
02/16/2017
 THREE REASONS WHY PMI COULD BE YOUR FRIEND Many mortgage loan programs today allow homebuyers to use less than a 20% down payment when buying a house.  When you do this, you are often required to pay Private Mortgage Insurance (PMI).  This increases your mortgage payment slightly.  Here are thre...
02/11/2017
THE CASE FOR (OR AGAINST) ARMS What’s the longest time-period you’ve ever lived in a home?  Consider Jane and John Doe who are buying a new house with a $200,000 mortgage.  In this example: Expected ownership period is 7 years Interest rate on a 30-year fixed rate loan is 4.5% Interest rate on a ...
02/10/2017
TWO WAYS TO BENEFIT FROM RISING HOUSE PRICES House prices have gone up in many markets across the country. The chart below illustrates what this could mean for you based on your home value and the rate of appreciation in your neighborhood.Here are two ways you may be able to benefit if your home ...
02/09/2017
 Mortgage rates are determined by the supply and demand for mortgage bonds in the bond market.Why Mortgage Bonds?When you get a mortgage in the US, your mortgage company is getting the money from Fannie Mae, Freddie Mac or other "securitizers". These "securitizers" get their money by issuing bond...
01/30/2017
1 - Housing Supply Housing supply measures how many months it would take to sell all the houses currently listed for sale, at the current pace of home sales. For example, if there are 600 homes currently listed for sale, and an average of 100 homes are selling each month, there would be a 6-month...
01/13/2017
 For the third time in three months, FHA-insured mortgages became more user-friendly.  On January 9, 2017, FHA lowered its annual mortgage insurance premiums by 0.25%.FHA Annual Mortgage Insurance Premiums   OLD (last year) NEW (closings after Jan. 27, 2017) 30-year fixed rate mortgage with 5% do...
01/13/2017
FHA says premium cut will save FHA borrowers $500 a year on averageLow- to moderate-income homebuyers will get a boost in 2017, with the Federal Housing Administration (FHA) set to cut mortgage insurance premiums later this month.The move will “will mean a whole lot more responsible borrowers are...
01/09/2017
Congratulations on your mortgage closing!  Here is a general overview of some information that may be helpful to you and your CPA as you prepare your 2016 tax returns:Points Paid on a Home Purchase in 2016Closing Disclosure Page 2, Section A - If the origination charges on Page 2, Section A of th...
01/05/2017
  Home prices in many markets have gone up recently.  This is leaving many retirees with sticker shock when it comes to trading up, or even trading down. Consider Anna and Olaf who are in the process of selling their $400,000 home.  They’ll be left with net proceeds of approx. $364,000 after payi...
01/05/2017
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JohnLemos

Mortgage Loan Officer, NMLS 613321
smartphone(951) 256-0812
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