47 Quotes by Keith Gumbinger

Fannie Mae and Freddie Mac will even lend 103 percent of the homes value. You need to have very good credit to qualify for this kind of loan.

Fannie Mae and Freddie Mac will even lend 103 percent of the homes value, ... You need to have very good credit to qualify for this kind of loan.

The optimal thing to do is to lock in your interest rate.

What is new today is that lenders are allowing for the layering of risks on top of one another. What we don't know is what if we put all these risks together and put them in a rising interest rate environment, a declining housing market, or a weakening economy.

With rates as low as they are people can cut years off the mortgage for the same monthly payment.

Could there be some 50s? There could be some 50s.

There's no way for consumers to borrow more cheaply. But that might change if the Fed raises rates a couple more times.

These loans can be of value for people who want to save or invest the money they would have paid in principal, ... Unfortunately, the way the product has been pitched, borrowers have been encouraged to stretch their budget to buy more house.

Someone who will be out of their home within five years to seven years can save some money with an ARM. But you have to be aware of the reality that interest rates are likely to be somewhat to significantly higher in three years, five years, 10 years down the road from today.