Refinance Options Matrix

FHA Homeowners - You are in Luck !!!

For the past couple of years, FHA mortgage insurance has been rising as rates have come down.  What that means to FHA homeowners is that they can refinance, but their new, higher mortgage insurance rates will eat up the savings.  Well, help is finally here.  FHA homeowners who have had their mortgage for about three years or longer can now refinance to today's great rates (typically 3.25 to 4.0 %) without their mortgage insurance increasing.  Rates subject to change without notice.

Call today to refinance and lower your payment significantly!

Brent A Wood 702-629-9555  brentawood@hotmail.com

HARP 3.0

So far, HARP 2.0 has been a great success, but has been limited to Fannie Mae and Freddie Mac owned mortgages.  Many clients have portfolio, VA and other types of loans that are not included in HARP 2.0, so clients can't take advantage of this great program to save money through a refinance.  HARP 3.0 is rumored to expand the program to include most of these loans. 

TIP - If you want to stay in the loop regardin a possible HARP 3.0 refinance, please email us at brentawood@hotmail.com or kholt@awmlv.com .

HARP 2.0 - Refinances for People paying their mortgage

HARP 2.0 Refinance Program has been out for a few weeks now and it has been very well received by homeowners throughout the country.  This program was created to help homeowners who are paying their mortgage, but did not have sufficient equity to refinance through existing mortgage programs.  Rates from 3.5% up to 5.0% are available for 15, 20, 25 and 30 year mortgages for Primary Residences, 2nd Homes and Investment mortgages that are presently owned by Fannie Mae or Freddie Mac.  Rates are subject to change without notice and not guaranteed.  The shorter the term, the lower the rates.  Credit scores and other factors can impact the rate a client receives, as well. 

Tip - many mortgage bankers and brokers offer these mortgages, but many do not know how to close them in a reasonable time and even fewer offer low rates and fees. 

We would love to provide you a quote with excellent rates, low fees and the time it will take to close.

Brent Wood 702-629-9555 brentawood@hotmail.com 
Karl Holt  702-629-0716  kholt@awmlv.com

Ten Reasons to Think the Economy is Improving...

Ten Reasons to Think the Economy is Improving

1) Improving Orders for High Priced Equipment
2) R.V. Sales have bounced back, strongly predictive and correlative of economic strength
3) Advertising Sales are Up
4) Corporate Profits are at Record Levels
5) Men's underwear sales are up, strongly predictive and correlative of economic strength
6) More companies plan hiring
7) Factory Production and Auto Industry improvements
8) Improved Retail Sales
9) Housing Price Stabilization and even improvement
10) Unemployment declines, even if slowly

Mortgage Myth #4 Things to help your credit

Mortgage Myth 4A

Payoff your credit cards by consolidating in to one card.  This is a bad idea.  It is better for your credit to have multiple cards with low balance/limit ratios, not one maxed out credit card.

Mortgage Myth 4B

Payoff and Closing my credit cards is great for my credit score.  Actually, paying them off is good, closing them is not.  Four zero balance cards is actually good, but make a small purchase on each every couple of months and pay it off immediately will be best for your credit.   It is good to have long term credit, do not open, payoff, then close over and over again.  This doesn't help.

Mortgage Myth 4C

Having your parents add you as an authorized user helps build (or rebuild) your credit.  This was the case in the distant past, but now this does nothing for your credit or re-establishment of credit.


There are lots of other mortgage and credit myths out there, but experienced and knowledgeable mortgage agents are able to read your credit report and qualify you on the spot for a favorable mortgage and give you tips on how to make your credit better for the future. 

Call me if you have any questions.

Brent A. Wood
License Mortgage Agent
NMLS#327581
Direct 702-629-9555
brentawood@hotmail.com
All Western Mortgage
770 Coronado Center Drive Suite 160
Henderson, NV  89052
NMLS #14210

Rich People get Richer, But SMART, rich people get FILTHY rich

Why do investors finance rental properties instead of paying cash?   The simple answer is that LEVERAGE increases ROI (return on investment).  Let’s start with a simple example:

Mrs. Johnson buys one rental property with $100,000 Cash.

Net rent after taxes, maintenance/vacancy set aside, taxes/insurance, etc. is $500/month

ROI is 6% /year not counting any tax benefits and property appreciation.

Mrs. Johnson buys five rental properties with $100,000 down and finances $80,000 each.

Her payment is $400 per month, so her net rent is approximately $100/month each.

ROI is 6%/ year not counting any tax benefits and property appreciation.

But, now let’s factor annual appreciation at 3% and annual rental increases of 3%.

One Property (Cash)

Net Rent without Rental Increases = $60,000

3% appreciation on one property of $100,000 for ten years = $34,391

3% rent increase on one property = $17,566

Total ROI $111,957 = 11.2% /year

Five Properties (Financed)

Net Rent without Rental Increases = $60,000

3% appreciation on five properties of $500,000 for ten years = $152,386

3% rent increase on five properties = 17,566

Total ROI $229,952 = 23%/ year

This is why rich people get richer and smart rich people get filthy rich.