Indianapolis Indiana Mortgage Rate
Rep. Julia Carson Website
Indianapolis, IN - Today, Congresswoman Carson toured the newly renovated Small Business Administration’s (SBA) Business Information Center with SBA Administrator Hector Barreto. SBA Business Information Centers provide the latest in high-tech hardware, software and telecommunications, as well as one-on-one counseling and a business reference library to assist area small businesses. The U.S. Small Business Administration was established in 1953 as an independent agency of the Federal Government in order to help people get in business, stay in business and grow. Small businesses generate more than half of the nation's Gross Domestic Products, and employ more than 50% of the private workforce. In 1996 alone, the SBA guaranteed more than $10 billion in 52,700 loans in the U.S. Photo ... [Read More]
SECOND MORTGAGE LOANS & REFINANCING
You cannot compare APRs of home equity lines to the traditional second mortgages since the APRs are figured differently. The APR for a traditional mortgage takes into account the interest rate charged plus points and other finance charges. The APR for a home equity line is based on the periodic interest rate alone. It does not include points or other charges. You can compare the closed-end "note" rate with the line of credit APR and their other charges. ... [Read More]
Rep. Julia Carson Website
Indianapolis, IN— Indiana consumers facing foreclosure or just needing advice and counsel on their home mortgages now have a new resource to turn to as Congresswoman Julia Carson today announced the formation of the Mortgage and Foreclosure Helpline. The Helpline is a joint project of Congresswoman Carson and Momentive Consumer Credit Counseling with the support of Fannie Mae Indiana Partnership Office and the department of Housing and Urban Development (HUD). Those needing assistance understanding loan documents, refinancing questions, foreclosures or who need help to determine how to meet their mortgage payment are encouraged to call the Helpline toll-free at 1-866-722-WAIT (9248) , as in "Wait to sign your name on the bottom line". According to Rep. Carson, "Homeownership is the cornerstone of a healthy, thriving city. In 2001, Indiana had the 7th highest homeownership rate in the United States. Today, Indiana has one of the highest rates of foreclosure in the ... [Read More]
IHFA News Release - February 24, 2005
Homebuyers can qualify for IHFA’s First Home’s mortgage program by income and the purchase price of the home, which vary by county. In 2004, the average borrower who received down payment assistance had an income of $29,360, and the average assistance was $4,176. First Home’s current interest rate is 5.5% for a 30-year fixed rate mortgage. For more information on the First Home program and down payment assistance, visit IHFA’s Web site at www.indianahousing.org or call toll-free in Indiana (800) 872-0371. ... [Read More]
Rep. Julia Carson Website
Indianapolis, IN - Today, Congresswoman Julia Carson joined the Indiana Association of REALTORS® (IAR) and Fannie Mae (FNM/NYSE), the nation’s largest source of financing for home mortgages, to announce the Responsible Lending campaign, which will put REALTORS® at the forefront of preventing unwarranted high-cost lending. This multifaceted initiative will help home buyers get the best mortgage financing for which they qualify, while expanding homeownership opportunities throughout Indiana. The Responsible Lending campaign will: 1) harness the power of REALTORS® to promote consumer awareness about the benefits of seeking out responsible lenders and shopping for the best mortgage; 2) debunk many of the myths that surround the home-buying process; 3) ensure that REALTORS® are knowledgeable about low-cost flexible mortgage loans and are committed to the principle of offering potential home buyers competitive rates. "The foreclosure rate in ... [Read More]
Indiana
Since 1993, President Clinton and Vice President Gore have supported innovative and promising teen pregnancy prevention strategies, with significant components of the strategy becoming law in the 1996 Personal Responsibility Act. The law requires unmarried minor parents to stay in school and live at home or in a supervised setting; encourages "second chance homes" to provide teen parents with the skills and support they need; and provides $50 million a year in new funding for state abstinence education activities. Efforts are making a difference, adolescent pregnancy rates and teen abortion rates are declining. And between 1991 and 1997, teen birth rates declined 10.4% in Indiana. ... [Read More]
Indiana
Since 1993, President Clinton and Vice President Gore have supported innovative and promising teen pregnancy prevention strategies, with significant components of the strategy becoming law in the 1996 Personal Responsibility Act. The law requires unmarried minor parents to stay in school and live at home or in a supervised setting; encourages "second chance homes" to provide teen parents with the skills and support they need; and provides $50 million a year in new funding for state abstinence education activities. Efforts are making a difference, adolescent pregnancy rates and teen abortion rates are declining. And between 1991 and 1997, teen birth rates declined 10.4% in Indiana. ... [Read More]
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You may run into variable rates in connection with some credit cards as wellas on loans secured by real estate. With variable or adjustable ratetransactions, the interest rate can increase or decrease over the life of theloan. You should ask the following questions with respect to variable rateloans: ... These are the highest rates that a creditor can charge. However,creditors may charge lower rates. If you take the time to shop around, and ifyou have a sound credit history, you should be able to negotiate a much lowerrate. You should not borrow at the maximum rates unless absolutely necessary. ... [Read More]
NCUA News Release - Matz Discusses Current Issues
Interest Rate Risks – “If interest rates rise 200 basis points this year – which is not unrealistic – credit unions holding too many fixed-rate mortgages will lose earnings and liquidity,” Matz cautioned. “At that point, these credit unions may not be able to sell their mortgages to the secondary market. If your credit union has never sold a mortgage, don’t wait for a fire sale. Contact a secondary market buyer such as Fannie Mae or Freddie Mac now so that you can sell your mortgages as soon as you need to, and free up liquidity to make more mortgages.” ... [Read More]
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