Law Offices of Fred Peet
Fred Peet
January 2021
Real
The Law Offices of Fred Peet Representing buyers and sellers throughout Vermont


Alternative Mortgage Lenders are Changing the Marketplace
Alternative mortgage lenders include online lenders and non-bank lenders. They’re shifting the real estate marketplace and making it much simpler and easier for consumers to get a mortgage. So what should you know?
      There are three main categories that alternative mortgage lenders tend to fall into.
      There are online mortgage lenders, which work to add transparency and efficiency to the home loan process. They simplify and shorten the timeline.
      There are marketplaces that help borrowers as they’re comparing rates and shopping around for mortgages.
      Then, there are non-bank
Mortgage Rates
U.S. averages as of January 2021:


30 yr. fixed: 2.66%
15 yr. fixed: 2.19%
5/1 yr. adj: 2.79%






lenders that tend to market their services to borrowers with less-than-perfect credit.
      Alternative Online Lenders Mortgage originators that serve as

Get The Home You Want, Millennials: Smart Strategies For First-Time Homebuyers
     Hey, Millennials. Come on into the real estate market! We really need you to buy some homes so we can keep chugging along. Oh, wait. Prices are rising and so are interest rates, plus inventory is scary low. Hmmm. Well, come on in anyway, wontcha?
      It's not easy to buy a home in a hot market where inventory remains at historic lows - and that covers a lot of areas across the country at a wide range of different price points. But it's especially hard right now for Millennials, who aren't exactly getting a warm welcome from the market that has been begging them to participate.
      "I think it's fair to say this is the most competitive housing market we've seen in recorded history," Danielle Hale, chief economist for



Doing the Refinance Math
     Wondering whether or not to refinance an existing mortgage typically means running some numbers. You can do this on your own but it’s probably better to talk to a loan officer and get some assistance. It really all boils down to how much you’ll save each month compared to what you’re paying now. But there are other considerations.
      First, pay less attention to the change in rate. Old school myths say that it’s a good idea to refinance if current market rates are 1% or 2% lower than what you currently have. But the rate is only a part of it. The other component is the amount being financed. For larger loan amounts, maybe a reduction of only 0.5% makes sense. 
      For smaller loan amounts, 2% may not be enough. Instead, calculate the monthly savings and then divide that amount into the closing costs associated with the mortgage. The result is how many months it will take to ‘recover’ the closing costs in

The Law Offices of Fred Peet

55 Patchen Road
South Burlington, VT 05403
802-860-4767
800-683-3903 (toll free)
802-860-2822 (fax)
fpeet@peetlaw.com





Meet Our Real Estate Law Team

  Attorneys:
     Fred V. Peet
     Richard C. Maxson
     Christopher M. Perra
     Kevin J. Shortell
     Paula LeBlanc
     William Flender
     Eric Derry

Paralegals/Legal Assistants:
     Doreen Guthrie
     Sherry Morin Barton
     Amy Benway
     David MacPeek
     Shawn A. Nelson
     Karen Eddy
     Elise Martin
     Marcy Brigham
     Joe Tomlinson
     Sheri Slack
     Linnea Oosterman

Closing Coordinators:
     Katy Baker    
     Laura Martin



  Daily News and Advice

Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
More Articles
December Real Estate Roundup
What to Expect from a Home Inspection
Top Reasons a House Isn’t Selling
What to Know Before You Buy Land
Why the Second Investment Property is So Much Easier to Finance


Fred Peet
E-mail: fpeet@peetlaw.com
Website: http://www.peetlaw.com
802-860-4767 (phone)
800-683-3903 (toll free)
802-860-2822 (fax)
Law Office of Fred Peet
(802) 860-4767
55 Patchen Road South
Burlington, VT 05403


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