So yesterday we had 5 wires go out to clients that are either refinancing or purchasing at this time. Here are a few reasons why we sent wires yesterday and this is why it pays to work with us.
- Client got into escrow, and has no money until their home closes escrow. They needed $10,000.00 and it was easier to get from us than it would have been to get from a relative.
- Client needed a Bridge Loan as their sale Escrow was closing yesterday and their sale closes early next week if all goes well.
- Refinance client has to pay down their second mortgage so they can get to 80% of the appraised value and after we close that loan we will get them a second mortgage to pay us back and also pay off some credit cards.
- Client purchasing needed to get credit scores up as high as possible. They have $200,000.00 in equity in the house they are selling. They have $50,000.00 in bills that they want to pay when the house sells. With $32,000.00 we will be able to get their score up from 683 to over 740.
- Client refinancing is trying to get their credit score up. They have a lot of equity, but they have a 694 credit score. We sent them $14,000.00 which will take their score over 740.
This is the way we help your clients. Most of them are not money people. Heck, most Loan Officers are not money people, and they only care about the loan that is in front of them. The advice we give and the help we give our clients is NOT NORMAL! It actually pisses a lot of people in my industry off! We are here to help clients and out them in a better financial position. We give good advice, we help with credit, we help them qualify, but we always stay within the rules.
Interest rates are really whacky right now. So I am just doing fixed rate mortgages today, but you can see that there are a couple of options:
- 30-year fixed conventional 1st Mortgage with 25% down – 3.625% (3.691 APR). Loan amounts up to $484,350.00 = $2208.88 – 0 Points
- 15-year fixed conventional 1st Mortgage with 25% – 3.250% (3.359 APR). Loan amounts up to $484,350.00 = $3403.38
- 30-year fixed 1st Mortgage FHA loan 3.50% down – 3.375% (4.678 APR). Loan amounts up to $484,350.00 = $2178.77 + $349.08 PMI = $2527.85
- 30-year fixed 1st Mortgage VA loan 0% – 3.375% (3.430 APR). Loan amounts up to $484,350.00 = $2141.29
- 30 Year Fixed rate 1st Mortgage Jumbo Loan 25% down – 3.750% (3.797 APR). loan amounts up to $3,000,000.00 =13,893.47 – 1 Point
- 30 Year Fixed rate 1st Mortgage Jumbo Loan 25% down – 4.125% (4.143 APR). loan amounts up to $3,000,000.00 =14,539.49 – 0 Points
Interest rates are subject to change without notice. All of the above are based on a credit score above 740.
I will be in the office all week and I hope to hear from you! Things are really happening and the market is still strong. If you work hard now then you will have deals pop during the holidays. My cell is always on when I am awake at 661-714-6258 and my office line is 661-260-2970Xt 2222. Have a great week and I will look forward to hearing from you!