The Seller Can Pay Your Down Payment

The Raleigh mortgage market is HOT & it just got a little warmers with the new program available @ The Kevin Martini Group. The MAP is here. MAP stands for Martini Affordable Program & it allows the Seller to participate into the transaction by paying the down payment.

18th annual Festival will be held on Saturday, April 30, 2011

18th annual Festival will be held on Saturday, April 30, 2011

This Saturday I will be helping Clients with their Raleigh mortgage needs via the telephone because I am planing on attending this festival this weekend. This is the 18th annual Spring Dave Arts & Craft Festival — it will be held at Bond Park (a.k.a. Fred G. Bond Metro Park). Did you know that Bond park is over 300 acres!

It should be a good time! To confirm time, date & times please call (919) 469-4061. Speaking of a good time – it is a great time to buy a home or refinance too, Raleigh mortgage rates are still at low levels and some local real estate is not just for sale but on-sale!

The Weekly Martini

The Weekly Martini:

Last week the news cycles & investors were focused on whether the government was going to stay open or is the government was going to close & if it is closed how long will it be closed?

OK, I pleased to report the US Gov’t is open for business & is funded with a budget @ least until the end of the fiscal year (technically until Friday however that appears to be just a formality) – then we get to start the journey all over again for the next fiscal year- how exciting!

Now, all this debate – are we going to be open or are we going to be closed created uncertainty…now the mortgage traders DO NOT LIKE uncertainty, towards that end, last week was very bad news for Raleigh and Cary home loan rates. The potential government shut down was not the only issue on the radar that was causing concern — those folks across the pond went ahead & raised there interest rates – OUCH!

Why do I say this & why do I & why should you care?

Simply put – last week, the Europeans raised the rate to curb inflation…the fact is the the “Euro” is trading @ a very high level vs. the “dollar” When the dollar is weak, that typically helps the stocks – you see this is great news for our 401K & for foreign investors too! You see the foreign investors will come in to the stock market because our dollar is weak and they can buy more ( you & I would do the same).

Now remember, the stock market & the bond market compete for the same investment dollar (REMEMBER: Raleigh mortgage rates & Cary home loans all come from mortgage bonds…now money will start to flow out of the bond market & into the stock market…when things are cranking in the stock market – there is no need for the safety of a bond. When money leaves the bond market, that means Raleigh mortgage rates will increase – YIKES!

That all being said Raleigh & Cary home loan rates are still relatively AMAZING, but remember that the Fed & Treasury have a VERY large inventory of mortgage bonds that they are planning to sell with 1st round of quantitative easing — folks this will not be pretty for Cary mortgages or Raleigh home loans.

I know you have been thinking of purchasing a home or perhaps refinancing your current one & if you have questions on how you will benefit from today’s historically very low rates, please call me (919.274.3700), Kevin Martini, your trusted advisor or email me at Kevin@KevinMartini.com —THANK YOU for sharing the word with someone that may benefit from this information & forward this post via the Facebook & the Twitter with those nifty icons below.

Now what is on the calendar for next week – the beginning of the week is kinda slow however then get you into a ton of important economic data that could truly impact how much a Raleigh mortgage will be. On Wednesday we will see the Retail Sales Report…then on Thursday (BTW: if you are counting, on Thursday which is the 14th of April will also mark 14 days until the royal wedding) we will the weekly jobless report & the PPI. Then on Friday we will see what the consumer is thinking with the Consumer Sentiment Index ( this will share what the consumer is thinking) & the CPI.

The Kevin Martini Monthly Principal and Interest Rate Chart

The Kevin Martini Monthly Principal and Interest Rate Chart

Folks, if you’re looking to buy your first home in Cary, NC or even if you are a seasoned home buyer & buying a home in Raleigh, the chart below will help you determine the principal and interest based on the current interest rate.

By giving your approximate house payment, this table helps you stay within your price range. To calculate the principal and interest portion of your monthly house payment, first divide the loan amount by $1,000. Then multiply that number by the principal and interest payment factor. So here is a Kevin Martini example: if a $100,000 house is being purchased with a 30-year mortgage term, take the following steps:

1. $100,000 / $1,000 = $100
2. 30-year loan @ 5.000% = 5.37 P&I Factor
3. 5.37 P&I Factor x $100 = $537

Monthly house payment for principal and interest would be approximately $537.* (*now remember, this is ONLY principal and interest. Taxes and insurance are separate & in addition too.)

The Kevin Martini Monthly Principal and Interest Payment Factors (per $1,000)

Interest Rate	15-Year Term	30-Year Term
4.00%	7.40	4.77
4.13%	7.46	4.85
4.25%	7.52	4.92
4.38%	7.59	4.99
4.50%	7.65	5.07
4.63%	7.71	5.14
4.75%	7.78	5.22
4.88%	7.84	5.29
5.00%	7.91	5.37
5.13%	7.97	5.44
5.25%	8.04	5.52
5.38%	8.10	5.60
5.50%	8.17	5.68
5.63%	8.24	5.76
5.75%	8.30	5.84
5.88%	8.37	5.92
6.00%	8.44	6.00
6.13%	8.51	6.08
6.25%	8.57	6.16
6.38%	8.64	6.24
6.50%	8.71	6.32 The Kevin Martini Monthly Principal and Interest Rate Chart

The Weekly Kevin Martini

We learned last week that the glass is ½ full – NOT ½ empty specifically relating to the Jobs Report that was released on April Fools’ Day – the employment number was nothing to joke about folks! This report highlights that Raleigh mortgage rates are NOT going to be low forever – I regret this is a fact & not a joke. The economy produced 216,000 jobs in March & this number was greater than expectations. Now in the private sector, over 230,000 jobs were created & this number was greater than expectations. The unemployment number dropped to 8.8% — folks this is the lowest since March of 2009. The jobs number is good for the US economy however what does it mean for Raleigh mortgage rates? Well, I think you know what I am going to say — the employment numbers is good for the US economy however when news is good for the economy it generally is not good for Raleigh mortgage rates or Cary home loan interest rates. Here is the Kevin Martini break down…weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds & Raleigh home loan rates improve, while strong economic news normally has the opposite result on Raleigh home loans. If you have been thinking about purchasing a home, call or email me to learn more about how you can benefit. Please forward this post with those cool button on the bottom via the twitter or the facebook so one for your friends or family members may be able to benefit from today’s historic rates. Now let us take a sneak peak @ next week… There is still the turmoil in the Middle East…we still have a nuclear story in Japan & I am sure there will be a world event next week that may surprise us all. That being said, there is really no major news to impact Raleigh mortgage rates next week – just technical factors ONLY. I promise I will be keeping my eyes on the markets & invite you to call with questions – folks, NOW IS THE TIME TO BUY! The economic news may be slow next week however the Kevin Martini Home Buyer University has a full schedule of FREE training. Join 1 online workshop or join all – there is nothing being sold – just information to help you. Here is a sneak peak @ this week’s calendar: Secrets to Sell Your Home Fast…Even in a Down Market! Thursday 07:30 PM click here to join now 20 Things You Must Know Before Buying a Home Monday 07:30 PM click here to join now 25 Things You Must Know Before Applying for a Mortgage Thursday 09:00 PM click here to join now 5 Ninja Strategies to Help You Negotiate Like a Pro! Monday 06:30 PM click here to join now 8 Big Insider Secrets to Building Your Credit Score Fast! Friday 08:00 PM click here to join now Divorcing and Home Ownership: How To Avoid The Nine Biggest Mistakes Tuesday 07:00 PM click here to join now The Best Kept Mortgage Secret: USDA Guaranteed! Tuesday 08:00 PM click here to join now Zero Down! Fact or Fiction? The Truth About VA Loans! Wednesday 07:30 PM click here to join now