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John
Bratmon
President/Broker
Towne
Financial Corp.
7975
Leary Way
Redmond,
WA 98052
425.885.1430
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To
contact me, to assist you with your mortgage needs, Click
Here
To
find out what your real property may be worth in the current market, Click
Here
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| U.S.
Treasury Bonds |
| Maturity |
Yield |
Last
Week |
Last
Month |
| 5
Year |
4.36 |
4.43 |
4.54 |
| 10
Year |
4.45 |
4.51 |
4.60 |
| 30
Year |
5.65 |
4.71 |
4.79 |
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Treasury
Market Summary:
Aiming
for 5.250%: The market has been pressed lower as ongoing rate
hikes are anticipated & it is now time for the 10-yr
yields to take a serious look at 5.250%. The market has to
acknowledge rate hikes ahead, the big question is how they
respond following the statement (ambiguous as it may be &
probably citing data dependence again). The curve remains
inverted & well within its recent, tight range, with the
2-10-yr yield spread running around -3. The chatter on
expectations for a heightened economic slow-down are making
the rounds as the lessened accommodation in money will weigh.
As BONY's Mike Woolfolk noted this morning following the
durables report, "Given that durable goods have been
driven largely by aircraft orders over the past six months,
there is room to question the underlying strength of business
confidence. It appears that businesses remain reluctant to
rebuild inventories, despite relatively strong economic
conditions, with energy prices and borrowing costs on the
rise. That said, the underlying growth fundamentals remain
intact." Durable orders were weaker, though after
accounting for the large drop in aircraft orders the print
cleaned up nicely with an inline gain. The dollar remains
mixed with the euro down at 1.2519 & the yen better at
116.2750. The dollar index is off its session highs of 87.02
though still better at 86.79. Spot gold is down at 579.05
(-1.60) while crude oil is up at 71.20 (+0.36). |
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Economic
Indicators for this week that could impact the mortgage or
real estate markets include...
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For a Quick Easy Loan Approval:
Have These Items Ready When You Apply For a Loan |
Income
Items
 | W2
forms for the last two years |
| Most
recent pay stubs covering a 30 day period |
| Federal
tax returns (1040’s) for the last two years,
if: |
| you
are self-employed |
| earn
regular income from capital gains |
| earn
sizable interest income, etc. |
| earn
more than 25% of your income from commissions or
bonuses |
| own
rental property |
| or
are in a career where you are likely to take
non-reimbursed business expenses). |
| Year-to-Date
Profit and Loss Statement (for self employed) |
| Corporate
or Partnership tax returns (if you own more than
25% of the business) |
| Pension
Award letter (for retired individuals) |
| Social
Security Award letters (for those on Social
Security) |
Asset
Items
| Bank
statements for previous two months (sometimes
three) on all accounts. All pages, even if you
don't think them important. |
| Statements
for two months on all stocks, mutual funds,
bonds, etcetera |
| Copy
of latest 401K statement (or other retirement
assets because they can count as reserves) |
| Explanations
for any large deposits and source of those funds |
| Copy
of HUD1 Settlement Statement on recent sales of
homes |
| Copy
of Estimated HUD1 Settlement Statement if a
previous home is for sale, but not yet closed |
| Gift
letter (if some of the funds come as a gift from
a family member - the lender will supply a blank
form) |
| Gifts
can also require: |
| Verification
of donor’s ability to make the gift (bank
statement) |
| Copy
of the check used to make the gift |
| Copy
of the deposit receipt showing the funds
deposited into bank account or escrow |
| Note:
many get their statements of various kinds over
the internet and these are not always acceptable
to lenders, especially when the printed version
does not contain the borrower's name, account
number, and the name of the institution. |
Credit
Items
| Landlord’s
name, address, and phone number (if you rent -
for verification of rental) |
| Explanations
for any of the following items which may appear
on your credit report: |
| Late
payments |
| Credit
inquiries in the last 90 days |
| Charge-offs |
| Collections |
| Judgments |
| Liens |
| Copy
of bankruptcy papers if you have filed
bankruptcy within the last seven years |
Other
| Copy
of purchase agreement (if you have already made
an offer) |
| To
document receipt of child support (if you desire
to show it as income) |
| Copy
of Divorce Settlement (to show the amount) |
| Copies
of twelve months canceled checks to document
actual receipt of funds |
Refinances
| Copy
of your most recent monthly mortgage bill |
The
following cannot hurt to have ready, but are not as
necessary as they once were:
| Copy
of Note on existing loan |
| Copy
of HUD1 Settlement Statement on existing loan |
The
purpose of this newsletter is to stimulate thought
for my clients and those
professionals
with whom I network. If you are a real estate,
estate planning, taxation,
financial
planning or insurance professional receiving this
newsletter, please call my
office
and introduce yourself to me. I'm always
seeking to grow my referral network
and
expose more service
professionals to my client base. I specialize
in helping
those
individuals looking to
buy, sell or refinance real property in the Pacific
Northwest
area.
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| By The Way:
Most Lenders spend the majority of their time
prospecting for new clients (through ads, cold calling, flyers, etc.).
That's not they way I do things. My business is based almost
exclusively by referrals from my Preferred Partners (Real Estate and
Professional Consultants), and my current & past clients. Because of
this, I devote the majority of my time to serving the needs of my clients
before, during and after their transaction. As long as they keep
referring their friends, neighbors, family members & clients to me, I
don't have to spend my time prospecting for clients, which means I can
spend my time doing an even better job for them. If you know someone who'd appreciate the services I provide, please
call me with their name & phone number, and I'll be happy to follow up
with them.
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