47 Quotes by Keith Gumbinger

A quarter point here, a quarter point there, and soon you start to feel the pain of significantly increased monthly payments,

They're trying to make home prices more expensive, so some of this speculative activity will decrease, and incomes will have a chance to catch up.

This is very popular right now because it lets you draw some money out of your home and improve cash flow. If you do this, resist the temptation to draw too much equity out of your home.

Does that mean (consumers will) stop borrowing because it costs them another $5 a month? Probably not. It may influence decisions. I don't think it halts decisions.

No-money-down home purchases used to be the kind of thing you only saw on late night TV.

Not only do you not own any of your home, but you may be piling up additional debts that could quickly exceed the value of the home. There are no guarantees that rates will remain at comfortable levels and no guarantee that home prices will continue to go up.

Expanding your menu (as a lender) to include as many loan choices means you get a better opportunity to scour borrowers out of niche markets.

In many markets, it's possible to borrow at prime or even a quarter to a half a percentage point below prime.

If you're making a pre-payment on your mortgage principal, ultimately you'll pay less interest,