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low rates: Why are rates different from lender to lender? - 08/06/10 10:55 AM
This questioned has been asked of me many times.  Why are rates different from lender to lender?  To answer that question we need to understand two pieces of the loan puzzle (volume & pricing). 
VOLUME- Is the loan originator a one man shop or a very large corporation with many different investors?  Our industry thrives on volume and a company who can originate a high loan volume will received preferred pricing.  The one man shop may have 5 different lenders where as a very large mortgage shop (MIC Inc. has 450 loans officers nationally) may have 80-100 mortgage companies that they deal on a … (0 comments)

low rates: We have all FHA products to include the New Refi Plus Program! - 08/05/10 04:48 PM
We have all FHA products to include the New Refi Plus Program! (edit/delete)
That is correct and we are still doing loans!  We have every product available for our customers needs.  Matter of fact - we current have 10+ FHA lenders who specialize in FHA loans, The New Refi Plus loans, Streamlines, & Secure.  Yes, Down Payment Assistance has gone away, but 1st time homeowners can receive up to $10,000 from the State of MN with MHFA.  We still have 100% financing available through the VA and USDA Lenders as well. To get more information please call me or email me … (0 comments)

low rates: We have smoking low mortgage rates (MN & WI) Purchase and Refinance money - 08/05/10 04:38 PM
Smoking Low INTEREST RATES!!!!! (edit/delete)
Here is a quick rate update. I have MHFA at 4.25 with a possibility of 10K in down payment assistance funds for purchase money. To qualify for 4.25% income must be less than 67K yearly. A 5 year arm product currently at 3.25% fixed (APR 4.12%) for the 1st five years and after that it becomes adjustable with a 2/5 cap. For those that plan on selling their home within five years this might be a great product to refinance with. I have listed some of the standard qualifications below.
· Must have 5-20% equity … (0 comments)

low rates: There is still down payment assistance available up to 7k - 05/18/10 05:14 PM
That is correct!!! MHFA Financing allows a 1st time homebuyers who qualify can receive a low rate to 3.75% on a 30 year fixed and up to $7,000 down payment assistance . This is a 100% mortgage financing program accept the buyer must only have 1k in the transaction. Wow - what a great program. You must be an Approved Lender to sponsor this program and WE ARE. Please call me at 651-238-6748 to find out all the details. To qualify there are income requirements and standard FHA requirements. So please call me to get all the details..Agents welcome to call! … (1 comments)

low rates: Smoking Low INTEREST RATES!!!!! - 05/18/10 04:47 PM
Here is a quick rate update. I have MHFA at 3.75 with a possibility of 7K in down payment assistance funds for purchase money 1st time home buyers. To qualify for 3.75% income must be less than 67K yearly.
A 5 year arm product currently at 3.25% fixed (APR 4.11) for the 1st five years and after that it becomes adjustable with a 2/5 cap. For those that plan on selling their home within five years this might be a great product to refinance with. I have listed some of the standard qualifications below.
· Must have 3.5% - 20% equity … (0 comments)

 
Phil_olson_002_edited

Phil Olson NMLS 238103

Saint Paul Park, MN

More about me…

American Mortgage & Equity Consultants Inc.

Address: 1058 Hastings Ave, St Paul Park, MN, 55071

Office Phone: (651) 203-6432

Cell Phone: (651) 238-6748

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