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When shopping for a loan, you need to ask yourself what it is that you are shopping for.
Are you shopping for the lowest rate and lowest cost?
Are you looking for a professional that may not be the least expensive, but earns every bit of his/her fee?
Is there value in working with a local mortgage broker, as opposed to a huge internet company?
If you want the lowest rate and cost, all you have to do is get a good faith estimate from a broker and send it to another broker. The 2nd broker will send you an estimate beating the 1st broker. At that point you send the 2nd brokers estimate to a 3rd broker. You continue this process until you find a broker that cannot beat the previous brokers rate and cost.
After all of the "shopping" you will likely end up working with someone that values your business, but does not see the value that they provide. That is not someone that I would want to do business with.
Here is my "value proposition" to you:
Why me?
I will offer you my best rate, upfront; you will not have to play games shopping your loan all over the internet. Will someone be able to beat my estimate by $20? Probably. Will they be able to offer the commitment to service that I do? Not a chance!
Why Choice Finance?
Choice Finance is a LOCAL mortgage broker. We have been serving the DC metro area since 1996. Our reputation within the community is top notch, Please check out our testimonials page. We are big enough to offer all the services of our internet competition, but small enough (or smart enough) to realize that it is your referrals that keep our lights on.
Why Now?
It is extremely likely that we are nearing the end of sub 5% interest rates. The Fed will end it's mortgage backed security (MBS) purchase program in Feburary. I fully expect MBS investors to start to bail on these securities at the beginning of 2010 in anticipation of the Fed pulling out of the market. NOW is the time to refinance. If you are looking to purchase your first home, you can receive your $8,000 first time homebuyer tax credit when you file your 2009 taxes. NOW is the time
In summary, I will offer you my lowest rate, lowest cost and world class service upfront. I will earn a commission. EARN being the key word. I value the service that I offer. Your mortgage is typically the biggest transaction of your life, you should value my service as well
Contact Josh Burley today to get preapproved for your home purchase.
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
So you want to buy a house, what is the first thing you do (after trolling for hours on MLS listings sites )? You contact a realtor. The realtor is very happy to take your call and advises you to get pre-approved. Conveniently they just happen to have someone that comes "highly recommended and specializes in (fill in the blank, whatever you need is there specialty)" . You will call this person (which you should do) and they will pre-approve you for your loan, and send you off to buy a home! We all love one stop shopping and you have hit the mother load. You found a great realtor and mortgage broker that is highly recommended. The fact that they are basically in bed together should make the process go even smoother, right? WRONG!
The realtor is recommending a broker because they have a reciprocal business relationship. Not because they are any better or worse than anyone else. You must protect your best interest and shop for your loan. Here is what you need to do when vetting your mortgage broker:
- Only work with a broker that is no more than one state away from you. There are plenty of times where local knowledge comes in handy. I have heard horror stories about national internet companies.
- Work with a broker that is upfront about rates and fees. On a purchase you are committing to a lender prior to having the ability to lock in an interest rate. As a result, they have no reason to give you the lowest rate when it is time to lock in. They have no competition at this point, why would they?
- Most importantly, work with someone that you trust. Trust your instincts. They are almost always right. Interview your lender; make sure that they have your best interest in mind and not just their own commission.
Now you have a realtor, a mortgage broker and a pre-approval. Now it is time write a contract. When you are writing the contract, your realtor will say "I work with ABC settlements, they are great" You will likely nod and move on. It's just a title company, right? WRONG! The difference in title companies could be several hundred dollars. Do not let your realtor tell you who you are doing business with. Start comparing title companies online and use the settlement service that you want to use!
Bottom line: This is your biggest transaction of your life. Do not let someone else make the decisions for you; especially not a realtor who knows very little about the mortgage process. While you're at it, do not ask me how much you should list your home for. I have no clue and I have no problem admitting it. I can refer to a realtor that specializes in your area though. :)
Contact Josh Burley today to get preapproved for your home purchase.
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
USDA, FHA , VA, Conventional and Jumbo mortgage rates
Josh Burley
Maryland Loan Officer
301.881.8900
 TODAY'S MORTGAGE RATES : MD, VA & DC
Updated 10:40 am 11/30/09
All rates listed below are BASE rates on a 30 day lock. Factors such as credit score, loan to value, occupancy, cash out, loan purpose, property state and lock period can change these rates for better or for worse. Please contact me today for a custom rate quote.
Please call for 10,15,20,25 and 40 year quotes. We also offer ARMS, Interest Only and Super Jumbo mortgages up to $2 million
Adjustable Rate Mortgage (ARM) Rates from 3.25% call for details
30 yr fixed rate mortgage below $417,000
4.375% 1 point
4.5% .5 points
4.75% NO POINTS
4.875% NO CLOSING COST refinance* restrictions apply, call for details
Fannie Mae JUMBO mortgage 30 yr fixed rate (up to $729,000)
4.75% .5 points
4.875% No points
5% NO POINTS plus $1500 closing cost credit!
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.5% 1 points
4.75% NO POINTS
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
4.5% 1.5 points
4.875% NO POINTS
FHA JUMBO mortgage rates (up to $729,000)
4.875% .375 POINTS
5% NO POINTS
5.25% NO CLOSING COST refinance
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
5.00% no points
5.25% NO POINTS no closing cost refinance
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
USDA, FHA , VA, Conventional and Jumbo mortgage rates
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.choicefinance.net
301.881.8900
Those pundits and arm chair quarterbacks out there who were predicting mortgage rates below 4.5% are either really good or really lucky. The truth is, it does not matter. As of 8:40 on Monday 11/30/2009 we appear headed to opening rates at 4.375% or lower with 1 point upfront.
To overuse a phrase that is already grossly overused, this is a perfect storm. Home values have stabilized and in many markets like Montgomery County, MD ; home values have started to rise in some pockets. This makes it an ideal time to refinance or purchase, especially if you have a JUMBO mortgage. Rates on Jumbos will beat 4.875% or LOWER with zero points today!
We have long been concerned about the new FHA guidelines that will limit the loan amount and basically require all closing cost to be paid by the lender, today that is not an issue. I will be able to offer 5% with all closing cost paid on FHA streamlines. This should be the case on both conforming and Jumbo FHA streamlines.
Speaking of no closing cost refinances, they will be hot today as well. How about 4.875% with all closing cost paid by the lender?
What I do not want to here from my clients today is that they want to wait for rates to move even lower. As a mortgage professional, the biggest piece of advice that I can give you is to learn from the past. When rates are this low, do not hesitate. LOCK IN YOUR INTEREST RATE today. Today is the only thing that is a given.
Contact Josh Burley today to LOCK your purchase or refinance
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
USDA, FHA , VA, Conventional and Jumbo mortgage rates
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.choicefinance.net
301.881.8900
All rates listed below are BASE rates on a 30 day lock. Factors such as credit score, loan to value, occupancy, cash out, loan purpose, property state and lock period can change these rates for better or for worse. Please contact me today for a custom rate quote.
Please call for 10,15,20,25 and 40 year quotes. We also offer ARMS, Interest Only and Super Jumbo mortgages up to $2 million
Adjustable Rate Mortgage (ARM) Rates 3.25%! Call for a free good faith estimate
30 yr fixed rate mortgage below $417,000
4.375% 1 point
4.5% .5 points
4.75% NO POINTS
Fannie Mae JUMBO mortgage30 yr fixed rate(up to $729,000)
4.75% 1 point
5% No Closing Cost!* cost up to and not exceeding $3,000 will be paid by Choice Finance Corp.
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.5% 1 point
4.75% NO POINTS
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
4.500% 1.5 points
4.875% NO POINTS
FHA JUMBO mortgage rates (up to $729,000)
4.875% NO POINTS
5% NO POINTS NO CLOSING COST REFINANCE
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
4.875% no point
5.% NO POINTS NO CLOSING COST
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
Josh Burley
www.choicefinance.net
301.881.8900
Great day to lock a rate! Call about NO COST refinances from 4.875% 30 yr fixed!
TODAY'S MORTGAGE RATES : MD, VA & DC
Updated 10:30 am 11/19/09
All rates listed below are BASE rates on a 30 day lock. Factors such as credit score, loan to value, occupancy, cash out, loan purpose, property state and lock period can change these rates for better or for worse. Please contact me today for a custom rate quote.
Please call for 10,15,20,25 and 40 year quotes. We also offer ARMS, Interest Only and Super Jumbo mortgages up to $2 million
Adjustable Rate Mortgage (ARM) Rates from 3.75% with zero points! call for details
30 yr fixed rate mortgage below $417,000
4.375% 1.5 points
4.5% 1.125 points
4.75% NO POINTS
Fannie Mae JUMBO mortgage 30 yr fixed rate (up to $729,000)
4.875% .25 point
5% NO POINTS
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.5% 1.5 points
4.875% NO POINTS
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
5% NO POINTS
FHA JUMBO mortgage rates (up to $729,000)
5% NO POINTS
5.25% NO POINTS NO CLOSING COST REFINANCE
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
5% NO points
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.choicefinance.net
301.881.8900
"If you have been waiting for 4% fixed rate to become available, you need a reality check. Betting on something happening that has never happened before is never a good bet."
To quote Yogi Berra "It's like Déjà vu all over again". We are once again experiencing the BEST MORTGAGE RATES that we have ever seen. That phrase has been thrown around so much that it is starting to sound like "The biggest sale of the year" or "The most dramatic rose ceremony ever" The big difference is that we know that a sale will return in a larger form and that every rose ceremony is the most dramatic rose ceremony ever. We have also discovered that I've watched the Bachelor way too much and have lost all man points that I have ever accrued.
What we do not know about interest rates is how long they will stay this low. We do not know how low they will actually go. Is this the floor for mortgage rates? (I say, definitely.....probably...maybe... who cares? It's 4.5% fixed!)
Let's talk about what it is that we do know:
We do know that rate will rise and it will be dramatic. We also know that it will be sooner rather than later (I cannot believe I typed that, of course sooner is rather than later). The fact is that rates have been artificially depressed by the Federal Government in an effort to jump start the economy. We know that this cannot last forever in order to sustain long term economic growth. Mortgage rates will rise; it is a question on WHEN, not IF.
What do you do?:
If you are a homeowner with an interest rate of 5% or higher, call your mortgage broker NOW for a FREE GOOD FAITH ESTIMATE. Find out if it will be beneficial for you to refinance. No Closing Cost refinances are also a viable option right now! How about 4.875% with no cost, it's possible today!
If you are look to buy a home, Call your realtor NOW and get to it. We currently have sellers paying all closing cost, prices up to 50% lower than the all time highs, mortgage rates as low as 4.375% fixed and a tax credit up to $8,000 for first time homebuyers. It really is the best time to buy a home.
I know that many have tried and failed to refinance for a variety of reasons. If you are among the group that tried, try again. It is possible that new programs have arrived or your mortgage consultant was not very good at what they were doing. If you have been waiting for 4% fixed rate to become available, you need a reality check. Betting on something happening that has never happened before is never a good bet. The moral of this little blog post is this: Rates really are at the lowest points we have ever seen, today could be the last day in your lifetime that these rates will be attainable. Run, do not walk! Lock in NOW!
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
USDA, FHA , VA, Conventional and Jumbo mortgage rates
Sr. Loan Officer
Choice Finance Corp.
www.choicefinance.net
301.881.8900
Thursday, November 12, 2009
4.5% fixed rates! Today's mortgage rates:
TODAY'S MORTGAGE RATES : MD, VA & DC
Updated 11:15 am 11/12/09
All rates listed below are BASE rates on a 30 day lock. Factors such as credit score, loan to value, occupancy, cash out, loan purpose, property state and lock period can change these rates for better or for worse. Please contact me today for a custom rate quote.
Please call for 10,15,20,25 and 40 year quotes. We also offer ARMS, Interest Only and Super Jumbo mortgages up to $2 million
Adjustable Rate Mortgage (ARM) Rates from 3.375% Call for a rate quote
30 yr fixed rate mortgage below $417,000
4.375% 2 points
4.500% 1.5 points
4.875% NO POINTS
Fannie Mae JUMBO mortgage30 yr fixed rate(up to $729,000)
4.8750% .5 point
5% NO POINTS
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.500% 2 points
4.875% NO POINTS
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
CALL FOR QUOTE
FHA JUMBO mortgage rates (up to $729,000)
4.875% 1 POINT
5.125% NO POINTS
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
5.00% .25 points
5.125% NO POINTS
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
USDA, FHA , VA, Conventional and Jumbo mortgage rates
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.choicefinance.net
301.881.8900
No Closing Cost refinance rates 11/10/2009
Rates listed below are for NO CLOSING COST mortgage refinances in Maryland, Virginia and Washington D.C.
Rates listed below are BASE rates. Rates are based upon a $300,000 minimum loan amount, no cash out and a credit score 720 or greater, closing cost not to exceed $3,000. Please call or email me for a custom rate quote.
No Closing Cost 30 yr fixed rate mortgage:
4.875 with $1200 closing cost credit
5% Up to $2500 closing cost credit
5.125% Up to $3200 closing cost credit
No Cost 30 yr fixed JUMBO mortgage rate up to $729,750
5.25% up to $5,000 closing cost credit
Lender paid closing cost 30 yr fixed FHA mortgage rate:
5% $2000 closing cost credit
5.125% Up to $3,000 closing cost credit
FHA streamline 30 yr fixed with NO MONEY OUT OF POCKET:
4.875% 30 yr fixed rate
Contact Josh Burley today to lock your NO CLOSING COST REFINANCE
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.choicefinance.net
301.881.8900
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Choice Finance®
Rockville,
MD
More about me…
Choice Finance Corporation
Address: Rockville, MD
Office Phone: (301) 881-8900
Email Me
Answers to the most popular questions for those looking to purchase or refinance.
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