STATED INCOME LOANS!

AF Home Loans - Proof-017/25/2019- I hope you are having a great week and I hope that you are enjoying the heat. I am pretty amazed at some of the loan products that are coming out lately.  Here is one from the past and we are currently doing these loans!  STATED INCOME! 25% down no reserves after closing, but we have to document where the down is coming from and yes it can be a gift!  Borrower must be self-employed and have a credit score of 650.  Oh my goodness!  We can do these loans up to $5,000,000.00 and we require 1 month bank statement.  I agree that this is a bit crazy and rates are in the high 5’s to low 6’s depending on down and credit score!  I am out of words

Interest rates have moved up slightly due to some economic data this week.  Rates will be a little volatile over the next week as we get more data in.  Here are rates as of today:

  • 30-year fixed conventional 1st Mortgage with 25% down – 3.875% (3.930 APR). Loan amounts up to $484,350.00 = $2277.59
  • 15-year fixed conventional 1st Mortgage with 25% – 3.250% (3.350 APR). Loan amounts up to $484,350.00 = $3403.38
  • 5/1 ARM 1st Mortgage –  25% down – Fixed for 5 years and then becomes variable – 3.250% – (3.2605 APR) Loan amounts up to $3,000,000.00 = $13,056.19
  • 7/1 ARM 1st Mortgage – 25% Fixed for 7 years and then becomes variable – 3.375% – (3.385 APR) Loan amounts up to $3,000,000.00 = $13,262.89
  • 10/1 ARM 1st Mortgage – 25% Fixed for 10 years and then becomes variable – 3.500% – (3.510 APR) Loan amounts up to $3,000.,000.00 = $13,471.34
  • 30-year fixed 1st Mortgage FHA loan 3.50% down – 3.500% (4.914 APR). Loan amounts up to $484,350.00 = $2213.01 + $349.08 PMI = $2562.09
  • 30-year fixed 1st Mortgage VA loan 0% – 3.500% (3.681 APR). Loan amounts up to $484,350.00 = $2174.95
  • 30 Year Fixed rate 1st Mortgage Jumbo Loan 25% down – 4.125% (4.145 APR).  loan amounts up to $3,000,000.00 =14,539.49

I will be around all weekend and I can’t wait to hear from you!  My cell where you will call me is 661-714-6258 unless you call tomorrow or even today and my office line is 661-260-2970.  It is going to be hot here in the office this weekend so my cell is best for those weekend buyers.  Did I mention that I can’t wait to speak with you?