Two Cents: September Mortgage | Reconsideration of Value | Student Loans

 


Mortgage Market Update – September

On September 16, following the Federal Reserve’s announcement of a 25-basis-point rate cut, market rates saw a slight rebound. The 15-year and 30-year fixed mortgage rates showed a more noticeable increase, while the 7/6 ARM remained relatively stable.

The August Personal Consumption Expenditures (PCE) index came in as expected, reinforcing market expectations that the Fed may cut rates again at its October 28–29 meeting.

Good news: Rates are still near this year’s lows, and the 90-basis-point refinance discount has been extended until October 1.

πŸ‘‰ If you’re considering refinancing, please contact us.


ROV: When Your Appraisal Comes in Low

Appraisals are a critical step in buying or refinancing a home. But if your appraisal seems low, you don’t have to accept it.

As a borrower, you have the right to request a Reconsideration of Value (ROV)—asking for the appraisal to be reviewed.

How it works:

  1. Contact your lender to submit a reconsideration request

  2. Provide supporting materials (recent comparable sales, home upgrades/renovation documentation, etc.)

We will guide you through the process and assist in securing a fairer appraisal.


Using Your Mortgage to Pay Off Student Loans

Typically, a Cash-Out Refinance comes with higher rates than a standard Rate-and-Term Refinance.

However, if you use the funds to pay off student loans in full, there is a special policy that allows you to retain Rate-and-Term rates, rather than the higher cash-out rate.

If you have student loans and home equity, you may simplify your debt structure and lower monthly payment.


Foreign Investment in U.S. Real Estate

As of September 1, Texas SB17 went into effect, placing restrictions on foreign buyers, including investors from China, purchasing Texas investment properties.

However, most other U.S. states remain open to foreign investors:

  • No credit score required

  • Down payment ~30%

  • Current rates ~7.875%

If you are considering investing in U.S. real estate, now remains a good opportunity.
πŸ‘‰ Contact us to learn more about the process and options.

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