Whisper Creek holds open house

Developers of the Whisper Creek at Windstone neighborhood are holding an open house from noon to 5 p.m. today.

If an offer is made on one of 17 homes and the sale closes by year’s end, developer Ival Goldstein will take an additional $20,000 to $30,000 off of the price. Buyers can use the money for any combination of: Down payment; closing costs; furnishing allowance; reduction of purchase price; mortgage payments; or to buy down the present interest rate.

Prices range from $265,000 to $429,000. Whisper Creek is off of Ooltewah-Ringgold Road. Call 910-0568 or visit whispercreekatwindstone.com for more information.

Lookouts owner addresses bankers

The Chattanooga Mortgage Bankers Association is having its monthly meeting on Nov. 20.

The social starts at 11:30 a.m. and lunch starts at noon. The meeting is in the Roosevelt Room at the Chattanooga Choo-Choo, 1400 Market St. Lunch is $15. RSVP by Friday to allison@mortgage-south.com.

Frank Burke, owner of the Chattanooga Lookouts, will be the speaker. The association will hold elections.

Realtors help hand out smoke alarms

Earlier this month the Chattanooga Association of Realtors joined with the Chattanooga Area Chapter of the American Red Cross and the Chattanooga Fire Department to distribute smoke alarms to homes in Brainerd.

“This is a great project and perfect fit for our Realtor association,” said Brenda Purcell, a Realtor with the James Co., who spearheaded Realtors’ involvement with Kim Riddle from Fletcher Bright Co.

Fixed-rate loans gain in popularity

Borrowers who took out mortgages in the first half of 2008 showed a preference for fixed rate mortgage products due to a decrease in fixed mortgage rates and the continued tightening of lending standards, according to the Mortgage Bankers Association’s Mortgage Originations Survey.

The government share of originations more than doubled to 11.8 percent in the first half of 2008 compared to 5.7 percent in the second half of 2007. The government loans category includes loans guaranteed or insured by the Department of Veterans Affairs, the Federal Housing Administration and Rural Housing Service.

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