Mortgage rates are going up but it’s not all bad news, according to Amity Mortgage

Mortgage rates have been at historic lows for nearly a year. While they are going up, they should still remain at what was historic lows prior to the most recent rates, says Ann Marie Burke, president of Amity Mortgage.

The HARP refinance still offers mortgages at low rates, expanded approvals, and the opportunity for homeowners to save money every month. If your current mortgage was originated before June 1, 2009 and owned by Fannie Mae or Freddie Mac, you may qualify. Appraisals are not required and loan to values are virtually unlimited. Basically, regardless of how much your home may worth versus what you owe, there is still time to take advantage of this program, says Peter Hyman, sales and operations manager, Amity Mortgage.

If you have a FHA mortgage, the streamline refinance for FHA mortgages originated and endorsed by FHA prior to June 1, 2009 will also qualify for no appraisal, no income verification refinance, with mortgage insurance remaining at the same low rates from 2009, says Hyman.

“This is still a great time to purchase a new home. Home prices and mortgage interest rates are up, however they are up from the lowest rates in history and great reduced home values. The opportunity and loan programs such as HomePath, which is specifically for homes owned by Fannie Mae, offer mortgages with little to no money down,” says Burke.

“Amity Mortgage offers quick underwriting decisions, personal one-onone consultation in the privacy of clients’ homes or at their offices. The mortgage professionals are fully licensed with up-to-date continued education,” says Hyman.

Amity offers a full line of mortgage products; conventional, jumbo, super jumbo, FHA/VA/USDA, HomePath, reverse, reduced documentation, 203K rehab, second/vacation home, investment property, and no closing cost mortgages.

For answers to your mortgage needs, call 800-AMITY (1-800-572-6489) and ask for Ann Marie Burke (ext. 10) or Peter Hyman (ext. 16).

Amity Mortgage Corp offices are located at 1882 Route 1, North Brunswick; 401 SW Central Ave., Seaside Park, and Newtown Pa. Visit the company website at