Frequently Asked Question: FHA / MIP / VA Funding Fee Q: Q: I am going over our Closing Costs Worksheet (for our preapproval) and I see "FHA/MIP/VA Funding Fee". What is this? Is this something that has to be paid at closing or can it be added into the loan?A: FHA has a one-time upfront mortgage insurance premium (UFMIP) of 1.75% of the mortgage amount. If you are doing an FHA loan, you can either pay the UFMIP out of pocket or roll it into the mortgage. If you are doing a 15 year mortgage with less than 10% down or a 30 year mortgage regardless of the amount down, there is also a monthly mortgage insurance premium.VA has a one-time funding fee that varies in amount, and depends on the type of veteran, the type of transactions, and whether or not it's a first time use. If you are doing ... 11/15/2009

The Mortgage Interest Rate Lock Advisory for Brewster MA for November 12 2009 Here are some of the events affecting mortgage interest rates today in Brewster, MA. What the Mortgage Backed Securities Market is Doing Today: The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.12 this morning - down 3/32 from Tuesday's close. The chart below shows today's price trend of the FNMA 30-Year 4.5% coupon: The FNMA 30-Year 4.5% MBS coupon is currently trading at 101.28 - up 5/32 from its opening. Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. Yesterday was "roll-over" day, so I expect that mortgage interest rates will be about the same in price this morning as compared to Tuesday. Recent Activity i... 11/12/2009

Get a Free List of Websites of Government and Bank Foreclosure Listings in Brewster, MA There are a number of websites that contain free listings of government and bank foreclosed homes in Brewster, MA. These websites contain descriptions, color photos, and addresses of the foreclosed homes for sale in Brewster, MA. And, most of these websites have government and bank foreclosure listings nationwide. There's no charge to search the foreclosure listings on any of these websites, and there's no 7-day free trial period either. Virtually all of these websites do not require any personal information to get access to the government and bank foreclosure listings. You can access these foreclosure listings anytime you want and as often as you want - free of charge!  Click here to get your own di... 10/01/2009

HA, VA, and USDA Rural Development Loans in Brewster, MA Are you looking for a home mortgage loan in the Brewster, MA area? Then you've come to the right place! Northeast Community Mortgage is a mortgage broker serving Brewster, MA, and many of the surrounding areas. When you decide to buy a home or refinance a mortgage in Brewster, MA or in the surrounding area, your search for a home mortgage loan should start and end here.  With so many lenders to choose from in the greater Brewster area, you should choose one you can trust to find the mortgage loan that will best meet your needs. As a mortgage broker, we help our clients obtain a loan from the lender who has the terms that best matches their needs. In terms of mortgage programs, we specialize in FHA, VA, and USDA Rural Development l... 10/01/2009

The Mortgage Interest Rate Lock Advisory for Brewster MA for October 1, 2009 Here are some of the events affecting mortgage interest rates today in Brewster, Massachusetts. What the Mortgage Backed Securities Market is Doing Today: The price of the FNMA 30-Year 4.5% MBS coupon opened up 3/32 at 101.34. The price of the FNMA 30-Year 4.5% MBS coupon closed down 3/32 yesterday at 101.25 (as shown by the white line). MBS is currently trading up 12/32 at 101.61 (as shown by the blue line). Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be 0.125% - 0.25% better in price this morning as compared to yesterday. Economic Reports, News, and Events Affecting Mortga... 10/01/2009

Is the Housing Market Recovering? Sales of existing homes fell 2.7% in August, ending a 4 month gain in sales. However, the inventory of homes on the market continue to fall. So, is the housing market recovering? Watch this video from CNBC to learn more.     09/24/2009

Brewster, Massachusetts is one of the more quiet towns on Cape Cod.  There are good beaches and lots of trees in Brewster, but I have always thought of Brewster as a town on the way to the National Seashore.  Brewster has a few summer developments like Mashpee has New Seabury.  Nickerson State Park is in Brewster and the beaches in Brewster are on the Cape Cod Bay side of the Cape.   The Brewster properties made up only a small percentage of the just over 1900 properties in the pre-foreclosure stages on Cape Cod on May 6, 2008.  About 40% of homes in Brewster are second homes.  The 37 properties in Brewster in pre-foreclosure are miniscule percentage of the 6500 residences in the Brewster residential inventory. Brewster is north of Harwich and Chatham, east of Dennis and west of Orleans... 05/12/2008