You may have, just maybe, heard a news story or two (thousand) about the economy. In broadcast journalism, the practice of coining a few catchy phrases and repeating them ad nauseum, has become the rule of the day. You know what I mean. One begins to wonder if certain words can be uttered without certain others. Try to say “downpour” without saying “torrential”, or “controversy” without “firestorm of”. Or “credit” without “meltdown”.

Go ahead. Just try.

But the thing is, there can be downpours that aren’t torrential and not all credit is in meltdown.

There is mortgage money to be loaned. And the lenders want to make you these loans. They don’t make money unless they loan money. (Commercial credit, now that’s another creature and is not to what I refer here.)

The catch is that you have to have a job, a decent FICO score and some money to put down, none of which is unreasonable if you want to borrow money. And it’s the way it always was up until things got wacky in the lending world, what with the “no doc” loans, borrowers with FICO scores lower than their bowling scores and 0% down.

But things are mostly back to normal in regards to lending requirements. And rates are great. My friend and colleague, Christie Caldwell, sent out these rates a couple of hours ago.

Assuming a purchase price of $250,000 rates looked something like this, using the FICO/LTV/Interest Rate model:

• 680/95%/5.50%
• 680/90%/5.50%
• 680/80%/6.00%

• 700/95%/5.50%
• 700/90%/5.50%
• 700/80%/5.875%

• 720/95%/5.375%
• 720/90%/5.375%
• 720/80%/5.50%

• 740/95%/5.375%
• 740/90%/5.375%
• 740/80%/5.50%

If your FICO is below 680, you can still get a loan, but you’ll be looking at paying more for ‘points’. And a gold star to the first one to see where things may seem a bit odd in this. [HINT: put down more, pay higher rate?]

Keep in mind that rates can change frequently. As in, several times a day. But these are good guidelines for where things are in general. Also, a borrower’s rate will be impacted by the amount financed, debt/income ratio, etc.,

Again, these numbers are a guide for today. Around noon. Before I go get another cup of coffee.

Just know that the torrential downpour of news items covering the firestorm of controversy about the credit meltdown may be missing some of the facts regarding mortgages.

One of the keys to living a contended life is surrounding yourself with the people and things that mean the most to you and going places that make you happy. Or laugh. Or feel comfortable, safe and valued. The following is a list – and it will grow as I have the time, camera and discipline – of such places and people for me*.

If you have a “favorite” that you feel should get a shout out, let me know. I want as many treasures in life as possible and all suggestions are welcome!

Greensboro Country Park

Maxie B's Bakery

David Bowers, MD. My plastic surgeon

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* The opinions expressed are mine. Only mine. My husband, friends and certainly my children don’t want to be painted with my proverbial brush. Even the places I recommend as one of “My Faves” have nothing to do with these posts. And they don’t pay me for them or give me freebies.

I like them. They don’t necessarily like me back.  So take this all for what it’s worth – the opinion of a blogger.