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Feds Raise Rates, yet again...

Thanks for you contribution, Tom!  It's great how you keep us so informed!  And it's appreciated how quickly you can provide a pre-approval!


"Hope all is well with you and your family. Happy Holidays!

Yesterday, The Federal Reserve raised it's short-term benchmark rate by .50 basis points.25 basis points less than what was originally expected! 


What the Fed Said: Good News! Yesterday the Federal Reserve raised it's benchmark rate by .50 basis points, 25 basis points less than originally thought. The other good news was that the Fed also commented that it would slow the pace of increases next year and it's decision on any increases it would look at the incoming data.

What Does This Mean: Fed rate increases don't directly affect mortgages. However, rates should stabilize and probably start moving down in the beginning of next year.  

Do not hesitate to reach out to me with any mortgage needs.  

I can pre-approve them the same day!   

  1. Primary 1 Unit purchase up to 90% LTV up to 2mm   
  2. 2nd Home Purchase up to 90% LTV up to 850K loan amount 85% to over 1mm  
  3. “Limited Document” programs for self-employed and 1099 employees.  We can lend off 1 year of 1099’s or 12 months bank statements  
  4. “Doctors Program” where we lend 100% to 1.5mm, 95% to 2mm and 90% to 2.5mm!  
  5. “Foreign National Lending”- true foreign national 2nd homes or investment properties, LLC vesting  
  6. Asset depletion- We use your current assets and or using retirement or portfolio assets as income  
  7. Mixed use properties (one residence over a commercial space) up to FHA limits (these are great in Brooklyn/Queens)  
  8. 95% financing up to high balance limits  
  9. Non-warrantable buildings including “Condo Hotels”  

All the best,  





Thomas Wiggin

Senior Loan Officer

D 917.847.7609

F 929.294.7205


E [email protected]


CrossCountry Mortgage, LLC

37 N 15th St, Ste 108

Brooklyn, NY 11222

Personal NMLS110416 Branch NMLS1601092

Company NMLS3029


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