When people are about to purchase a home, they usually start to look around for a mortgage company. Not too many people are able to write a check when buying a home so they need to finance the purchase of the home. I started out as a loan officer back in 1991. I think that I have alot of experience when it comes to shoping around for a home loan in Sacramento CA. I am going to give as many tips about home loans and mortgages as I can think of. I am also going to give updates to mortgage rates as they change. Mortgage rates can change daily. Loan programs can change weekly now that we have expierenced the mortgage meltdown. If you are looking for a mortgage company in the Sacramento area then this is the website for you.

When an underwriter is trying to determine if you are qualified for a home loan in Sacramento, they look at your debt to income ratios. They take your gross income and divide it by your housing payment plus all debts. I am taking about monthly debt payments like car payment, credit card bills, student loans, etc. The mortgage companies in Sacramento do not want your housing ratio to be above 31% of your gross income. They also dont want your total house payment plus monthly credit card payments to be above 41% of your gross income. I have put a caculator here so that you can see what your debt to income ratios are.

Mortgage companies in Sacramento

I hope you called all the mortgage companies in Sacramento at the end of September because if you didnt you missed out on record lows on mortgage rates. The ten year note rate is now up to 2.14%. I was worried that I couldnt see the ten year staying below 2.0% for very long. We were in a new territory when the ten year note rate was below 2.0% so the rate couldnt stay that low for very long. I know some people always wait to see if the rate goes lower but they usually miss out on getting rates at the bottom. You need to remember that mortgage rates follow the ten year note rate. When the rates hit a new bottom the demand picks up for those rates and that causes the rates to go up.

Dont worry call mortgage companies in Sacramento today

You still have time to get a very very low mortgage rate. We still have amazingly low rates. You can still get a 4.0% 30 year fixed rate and a 3.375% 15 year fixed year mortgage rate. We are only up about a quarter percent higher from end of September’s lows. If you are looking to buy a home in the Sacramento area, it is a good idea to get preapproved for a loan. Our rates should be good for the rest of the year but they are always moving up and down every day. Go ahead and check all the rates of the mortgage companies in Sacramento and when you have an idea of what the average rates are, please call Gordon at 916-261-2381 to get a loan preapproval. We can get or beat any listed rate from any of the mortgage companies in Sacramento.

Rates way down for all the mortgage companies in Sacramento

This has been the story of the year for 2011. Just when you think the 10 year note rate can’t down down any lower, it posts another record low today September 22. The ten year note rate ended up at 1.72%. It has been around the 2.0% range the last couple of weeks, and I thought that was the lowest it was going to go. In June the 10 year note rate was 2.80% range and it was above 3.0% prior to that. I remember back in 2003 when the ten year note rate was in the 3 percent range ,and we were experiencing a refinance boom at all the mortgage companies in Sacramento. We would have another refinance boom now if it were not for the fact that many homeowners dont have equity anymore. You see mortgage rates are tied to the 10 year note rate. When the note rate drops so do fixed mortgage rates. A person can get a 30 year fixed rate in the low 4% to high 3% range right now. I never thought I would see rates this low in my lifetime. My grandparents might have seen interest rates this low. I am going to bet that all the mortgage companies in Sacramento will be getting alot more busier now. If you were thinking of buying a home, you should get off the fence now so that you can lock in these historically low rates. If you want to see if you have enough equity to refinance, you can call Gordon at 916-261-2381 and he will check comparables for you. Remember if you cant get ahold of any of the mortgage companies in Sacramento because they are too busy then call me.

The ten year note rate has dropped this friday June 24th 2011. It is down to 2.86%. Earlier this year it was in the 3.3% range. This is significant because when the ten year note rate drops then the 15 and 30 year fixed mortgage rates drop also. A drop in the ten year note rate also indicates that our economy will be slowing down also. That is not good news but the good news is that lower interest rates will help home buyers buy homes. It will also help existing homeowners refinance their current mortgages as long as they have some equity. If you ever want to talk about mortgage companies in Sacramento CA and interest rates, please call me at 916-261-2381.