Today from 11am to 2pm ABBA First Mortgage, Inc. will host an open house where you can come familiarize yourself with our staff and facilities.  Please visit the Contact page on our website for a map and driving directions.

How do family dinners, shorter lines at the pump, less junk mail, more coupons, free fitness, bargain SUV’s and musical inspiration sound?  According to this article at FoxBusiness.com you have a recession to thank for these new fixtures in American life.  This is an interesting perspective for those of us who are always looking for the silver lining…

During these times, the old expression a penny saved is a penny earned is never more true.  What if we told you that we could save you thousands of pennies?  Gives new meaning to the expression, doesn’t it?  Give ABBA First Mortgage, Inc. a call at 866-676-3349 so we can discuss how we can save you money on your next loan.

We know that you have many choices when it comes to selecting a company for mortgage financing.  What makes ABBA First Mortgage, Inc. different from our competition is not the promises that we make, but rather our ability to deliver the promises that we make.

How many companies display their current rates right on their website?
Not very many.  Our rates are updated daily around noon and they can be found here for a North Carolina loan and here for a Tennessee loan.  The rates are there for our potential customers to see, they are there for our active customers to see and they are there for our competitors to see.  We know that our competition would like you to believe that their is a catch.  Take a look at the bottom of the rates page and you will see the loan criteria that we have based the rates on.  Do you meet the criteria?  Then what you see advertised is what you will get.  No hidden fees.  No catch.  Surprised?  You shouldn’t be.  You can always expect truth-in-advertising with ABBA First Mortgage, Inc.  We believe that we offer the lowest rates in the industry and we are proud to offer these rates to you our most valued asset.

How many companies display their closing costs right on their website?
Again, not very many.  Why?  If your closing costs are high would you put them on your website?  We don’t think so.  Our closing costs can be found here.  We have made every effort to make this page as clear and as plain as possible.  No fancy-shmancy mortgage terminology.  No gimmicks.  Just one flat fee of $795, plus your escrows, appraisal and attorney/title fees.  If you have any questions at all please contact us and we’ll be glad to go over the closing costs with you.  We love informed consumers.  After researching what is available to you as a mortgage consumer, we believe that you will choose ABBA First Mortgage, Inc.  Why?  We believe that we offer the lowest closing costs in the industry and we are proud to offer these closing costs to you our most valued asset.

Our service is second to none.
But don’t just take our word for it.  Take a look at the testimonials from many of our satisfied customers.  These are all real people who took the time to recognize a job well done.  We are thankful for each and every one of these customers and we would be delighted to count you as one of them.

Thank you for taking the time to read this.  Please do not hesitate to contact us for all of your home financing needs.  We look forward to saving you money on your next mortgage!

ABBA First Mortgage will be closed on Friday July 4th in observance of Independence Day.  We will resume normal business hours on Monday July 7th.

We look forward to saving you money on your next mortgage!

From our good friend Ross Marino at Raymond James Financial Services, Inc.

Continuing economic uncertainty and yet another spike in oil prices – this time to well over $140 a barrel on the New York Mercantile and other exchanges – sent the Dow Jones Industrial Average (an unmanaged index of 30 widely held stocks) plunging 358.41 points Thursday to a close of 11,456.19, a drop of 3.03%. It was the Dow’s lowest close since September 11, 2006.

It was a dark day for analysts who thought that the market reached a 2008 bottom with its 11,508.74-point close on January 22. Investors were shaken early in the day by a recommendation from Goldman Sachs Group to sell General Motors stock. That was followed by positive but disappointing future earnings projections from several high-profile firms, including Oracle Corp., Nike, Inc. and Research in Motion Ltd. (maker of the BlackBerry).

On Wednesday, the Federal Open Market Committee decided to stand pat on the fed funds rate – an expected halt to the periodic decreases that led to the current 2% level – and the markets barely moved. With today’s close, overall, for the month of June, the Dow has lost more than 1,100 points.

Recently, there have been some periods of relative calm that may have seemed to foretell a less volatile market, but, clearly, headline-grabbing volatility is still with us. As you are well aware, no one can tell where the market is going next. Maintaining your long-term viewpoint remains the best course to financial success…

In a widely anticipated move, The Fed has elected to keep the key rate unchanged.  As a consequence, we will likely see rates stabilize over the next day or two.  However, this effect is only temporary and unless The Fed raises rates (which is unlikely at this time) we will expect to see interest rates continue to climb.

Please contact us today to discuss how we can save you money on your next mortgage.

During the month of April, U.S. home prices have continued their downward trend falling sharply by 15.3%.

For additional data and discussion check Home Prices Fall 15.3% This Year on FoxBusiness.com.

With ABBA First Mortgage, Inc. offering rates near historic lows now is a great time to consider buying a home. But you might ask, “aren’t home prices falling?” Yes and no… it actually depends on where you are looking to buy. Here is a list of the top ten best performing housing markets in the country:

• Salt Lake City — median home sales price: $246,700; Percent change: 14.1 percent
• Charlotte, N.C. — $220,000, 11 percent
• San Jose, Calif. — $852,500, 9.4 percent
• San Francisco — $825,400, 8.6 percent
• Raleigh, N.C. — $229,500, 7.5 percent
• Austin — $188,200, 7.2 percent
• Pittsburgh — $127,700, 6.1 percent
• Seattle — $394,700, 6 percent
• San Antonio — $154,700, 5.7 percent
• Portland, Ore. — $299,700, 5.2 percent

Source: Forbes, Matt Woolsey (11/21/07)

If you are looking to buy in North Carolina or Tennessee we would be delighted to offer you the lowest rates and closing costs in the industry. Please contact us at 866-676-3349 or visit our Contact page to send one of our employees an email.

Once again, Wilmington is making national headlines. In this interesting article, Peter Bronski discusses the merits of Wilmington, NC’s new status as a Latté Town.

If you are like many of our clients, you are probably considering a move to North Carolina. Wilmington is certainly a wonderful place to live and work and we are proud to call this place home. As you make the move to NC you may be looking for home financing and a company you can trust. Please look no further than ABBA First Mortgage, Inc. We would be delighted to help you secure financing for your new home in Wilmington or greater North Carolina!

To read more about Wilmington and its bubbling culture click Are we really Bobos? (and is that a bad thing?)

“We bailed out an equity bubble with a real-estate bubble. The bulk of gross domestic product growth in the 2003-07 up-cycle was a function of mortgage-equity extraction, and 30% to 40% of new jobs were created in real-estate-related industries. Now that’s all gone.
What’s left are debts that people can’t service (due to living beyond their means), further exacerbated by the inflation that’s squeezing everyone’s paychecks.”
Bill Fleckenstein- Fed Chief Still Doesn’t Get It

Are you having trouble paying your mortgage every month? You are not alone. With higher gas prices, higher prices at the grocery store, etc. many people are feeling the pinch when it comes time to make their monthly mortgage payment. With rates still near historic lows though now may be a great time to consider refinancing.

If you are only planning on keeping your home for a few years, an ARM may be the right product for you. While long term rates for 15 and 30 year fixed mortgages are now above 6.00%, rates on ARM’s are well below this mark.

This loan product is not for everyone… but for the right person an ARM is a wonderful product designed to save you A LOT of money. With no end in sight to the rise in prices for many of our basic necessities ABBA First Mortgage, Inc. would like to help you save some money. Give us a call at 866-676-3349 or Apply Online today.