RATES have never been this low -- refinance again, it is one way of saving!
Refinance without any cost, either from your pocket or added to your loan balance.
Mortgage rates have been pretty steady the past few months, but recently since the stock market dropped by close to 1000 points in less than two weeks markets been very volatile, money was moving from stocks to bonds. The effects of that was the 10 year Treasury bonds dipped below 2.5% as low as 2.20%. Which has a direct effect on our mortgage rates, now the 30 years mortgage rates dropped to 4.00%, all time low. Call for the “NO COST LOANS” even if your rates dropped by between .375 = .50% or higher, by paying zero cost, its well worth it. I have been in the business going on 23 years and i have never seen rates this low. Now, qualifying for these rates is another thing or getting these rates would require for the homeowners to be in a certain credit status and debt to income ratio to qualify.
This is one way of trying to see the only good thing that is coming out of this really depressing Stock market decline. Life goes on and I believe this is a power struggle between the two parties and hopefully this will end by next election year. In the mean time, lets save as much as we can for future opportunities and stay frugal.
Here are what is typically a qualified customer for these low rates:
- Property to be owner occupied.
- Loan amount under $417,000.00, call for rates over said loan amount.
- Credit Score minimum @ 700 unless the loan to value ratio is less than 70%. Lenders will take 660 fico.
- Debt to income ratio needs to be below 45%, meaning all your debts ( Revolving & Installmend + PITI ) added up and if you divide it with your gross income, it should not exceed 45% to 50%.
- Employment history has to be in line with Fannie and Freddie guidelines.
- Cash out transactions will depend on the loan to value ratios to qualify for these rates.
If you happen to fall into these qualifications and guidelines, you should get these rates with no hassle. However, being in the loan business this long, every loan is different and there are no two loan that are similar. Please CAll to see if you qualify for these rates and for free consultation, call anytime : (562)508-7048.
Here are some other great rates i would like to share with you ( as of 8/9/2011 ) :
15 years fixed rates : 3.375 %
5/1 ARM (Initial rates fixed for 5 years then this will turn into a adjustable) : 3.00%
7/1 ARM : (Same as above adjustments) : 3.375%
10/1 ARM (Same as above adjustments) : 3.75%
LOANS OVER $417,000.00
30 YEARS FIXED RATES : 4.375%
15 YEARS FIXED RATES: 3.625%
These rates are all carrying .0% points for conforming loans and .0% for jumbo loans. Call for the “NO COST LOANS”
Guaranteed fees: $ Waived processing and $ 785.00 underwriting ( in writing ).
Appraisal Fees : $ 420 – 510 depending on the loan amount. Call for appraisal specials.
You have to call now, rates are subject to change without notice and these rates are posted at 8/9/11. DRE LICENSE 01021223. NO APR QUOTED.
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Call Ken at (888)822-5363 OF 1st Innovative Finance Group or write to This e-mail address is being protected from spambots. You need JavaScript enabled to view it for your inquiries or comments. Thanks so much. We will match any lender’s rates and guarantee all the rates and fees in writing.
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