Michigan Mortgage Blog

First Time Home buyer tax credit FAQ

Alan Lacey- — Wed, 27 Aug 2008 12:45:19 -0500

First-Time Homebuyer Tax Credit

How does a tax credit work?

Reduces income tax liability
Credits are claimed on an individual's income tax return
Maximum credit amount is $7500

Who can use the new tax credit?

First-time homebuyers or individual who has not had an ownership interest in a principal residence in the previous three years.

What if my taxes due on my return are less than $7500

The difference would be treated as an overpayment and the purchaser(s) would receive a tax refund.

Is there an income restriction?

Based on tax filing status
Single or head of household < $75,000
Joint filing < $150,000

Do individuals with incomes higher than the $75,000 or $150,000 limits lose all the benefit of the credit?

No, individuals making up to $95,000 and joint filers making up to $190,000 are eligible for a partial tax credit

Is the amount of the credit tied to the price of the home?

Yes, credit is 10% of the cost of the home, maximum credit of $7,500
Amount of credit is same for all taxpayers, married or single

Are there property location restrictions?

Property must be located within the United States

How do I apply for the credit?

Claim the credit on the appropriate IRS form 1040, or any special forms the IRS requires.
No pre-purchase authorization, application or similar approval process

Can I use the credit amount as part of my downpayment?

Cannot claim the credit any earlier than the 2008 tax return that will be filed in 2009.

What is the repayment feature of the credit?

There is no precedent for repayment of a tax credit created for individuals at this time.

Terms for repayment?

Repaid in increments of 6.67% of the amount over 15 years

When do I make a repayment?

Credits taken in 2008 will not be repaid until 2010

Can the IRS put alien on my property for the amount of the credit repayment?

The statue does not grant the IRS that authority

What if I sell my home before the 15-year repayment period?

Any amount of the unpaid credit will be reduced from any proceeds
If there is a loss or the gain from the sale is less than the amount of the repayment then the liability is forgiven.

Any other exceptions to repayment?

If the person dies before credit is repaid the amount is disregarded
There are special adjustments to people who sell as part of a divorce and/or homes that are part of an involuntarily conversion.

If I received a refund of a portion of the tax credit because my total tax liability was less than the amount of my tax credit, do I have to repay the amount of the refund?

Yes

MSHDA raises rates again

Alan Lacey- — Mon, 04 Aug 2008 17:19:09 -0500

Statewide Fixed NO DPA – (FHA, VA, Conventional & RD) – Fixed Rate – 30-year term

6.000% - No Discount Points – Amortization Factor – 5.99551

Statewide Fixed WITH DPA – (FHA, RD & Conventional 97%) – Fixed Rate - 30-year term

6.375% - No Discount Points – Amortization Factor – 6.23870

Statewide Step NO DPA – (FHA & Conventional 95% ONLY) – 30-year term

5.500% - No Discount Points – Years 1-3 – Amortization Factor – 5.67789

6.500% - No Discount Points – Years 4-30 – Amortization Factor – 6.27540

MSHDA raising their rates effective Monday

Alan Lacey- — Fri, 25 Jul 2008 15:00:41 -0500

If you have any clients looking to use MSHDA and making offers this weekend make sure they lock by Sunday. If you have any clients using MSHDA and you aren't sure if the loan officer has locked them in ....well it might be a good time to check.

Pricing effective 7/28 Source ( MSHDA)

Statewide Fixed NO DPA – (FHA, VA, Conventional & RD) – Fixed Rate – 30-year term 5.875% - No Discount Points – Amortization Factor – 5.91538

Statewide Fixed WITH DPA – (FHA, RD & Conventional 97%) – Fixed Rate - 30-year term 6.250% - No Discount Points – Amortization Factor – 6.15717

Statewide Step NO DPA – (FHA & Conventional 95% ONLY) – 30-year term 5.375% - No Discount Points – Years 1-3 – Amortization Factor – 5.59971 6.375% - No Discount Points – Years 4-30 – Amortization Factor – 6.19317

As Always the no DPA means no MSHDA DPA third party DPA's do not effect the rate.

Things you may not have known about MSHDA

Alan Lacey- — Wed, 02 Jul 2008 15:40:33 -0500

I am sure we are all getting more familiar with the MSHDA product line, but here are a few misconceptions that I have been helipng my clients break.

For example.

I just had a client who had sold their previous home and was moving to a new area and had 20% to put down on the purchase of a new home. Both the borrowers worked. They thought there was now way that MSHDA would help them. Well if you take a closer look if you buy in a targeted area prior home ownership doesn't matter. Even though both clients worked they also had 1 child and in that area that meant the income limit was $84k a year. Again a nice solid middle class couple with money to put down that without my attention would be paying way too much for the loan. They are now able to obtain fixed rate financing for nearly 1% below the market rate.

MSHDA reminders

allows a purchase price up to $224,500
in most areas if you have children you can make up to $85,000 a year
you can use outside downpayment assistance companies to get into a home with 0 money out of pocket
You can be putting a substantial amount of money down
There are credit score adjusters so the savings are even more substantial for credit scores under 720

Want to find a list of the targeted area and income limts well try this link http://www.myfavoritebanker.com/MSHDAHomeLoans

You will be suprised at how many clients can fit into this program and dramatically reduce their house payments and interest rate.

Why don't more people know well I think a lot of lenders shy away from the additional paperwork or aren't approved to do MSHDA loan.

I also think many Realtors have far more concern than is necesary about MSHDA running out of funds and the additional time alotment for the MSHDA process.

Currently MSHDA rates are at 5.625% yes there is a 1% origination fee with MSHDA loans, but the interest savings pays for that in about 2 years.

Michigan Mortgage Rates 30 year fixed 9/7/07 Lowest rate in months

Alan Lacey- — Fri, 07 Sep 2007 14:04:57 -0500

30 year fixed Michigan mortgage rates

Take advantage of the recent drop in rates to refinance and lock in your ARM!!!

I would offer 6 %/6.162% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, 1% origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Rates are subject to change based on variations in the market. This is not a commitment to lend and shouldn’t be construed as such. Only valid offers if Alan Lacey is your loan officer. Minor fluctuations can occur in APR based on closing date and any changes to the costs my lenders charge.

To see what competing lenders can offer just check the links to the right and you will be able to check the rates of the nation’s largest lenders for yourself and compare what they can offer vs. what I can do.

A few such as Countrywide make it nearly impossible to get a quote without talking to a loan officer, and others such as Quicken Loans require you to put in a payment trying to make payment the basis of your decision rather than the actual loan terms.

michigan jumbo mortgage rates 8/29/2007 purchase or refi stated income available

Alan Lacey- — Wed, 29 Aug 2007 15:51:39 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

Stated income no hit for borrowers with scores over 700!!!

I am not currently recommending jumbo fixed rate products in all but a very few cases going to the conforming limit of $417k and taking a second for the difference will give you a lower blended rate.

5 Year ARM:

I would offer 6.125%/6.551% apr

7 year ARM:

I would offer 6.25%/6.542% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

Free 60 day rate lock

Free float down to the best rate of any day between lock in and 3 days prior to closing.

No escrow required

Scores as low as 650 for full documented income

Stated income over 700 score no charge

Loan amounts up to 1.5 million at the quoted rate

· NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan no cost fixed rate mortgage 8/29/2007

Alan Lacey- — Wed, 29 Aug 2007 15:49:01 -0500

Michigan no cost mortgage, Michigan no fee mortgage, Michigan no closing cost mortgage

Assumes 30 year fixed mortgage with a $200k loan amount, rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

I would offer 6.75%/6.75% apr

Remember a no cost loan still has costs the lender, bank or broker, just pays for them out of the proceeds from the rate. (Since proceeds are paid based on a percentage of your loan amount you can see why there is a higher no cost rate for lower loan amounts, and perhaps a lower rate for larger loan amounts).

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan mortgage rates 30 year fixed 8/29/2007

Alan Lacey- — Wed, 29 Aug 2007 15:47:39 -0500

30 year fixed Michigan mortgage rates

Take advantage of the recent drop in rates to refinance and lock in your ARM!!!

I would offer 6.125%/6.287% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, 1% origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan real estate auctions September 2007

Alan Lacey- — Tue, 28 Aug 2007 10:17:50 -0500

Hudson and Marshall has over 700 for auction mainly SE side of the states

http://www.hudsonandmarshall.com/auctionInfo.asp?auctionName=Michigan+%2D+700%2B+Properties&auctionID=367

Williams and Williams has a bunch as well

Fri, Sep 21st	8:30am	6185-65	888 Dykstra Rd	Muskegon	MI	49445
		6185-28	4110 N RIVER DR	Newaygo	MI	49337
	10:15am	6185-19	2073 HOLLIDAY DRIVE SW	Wyoming	MI	49509
		6185-8	44 NATIONAL NW	Grand Rapids	MI	49505
		6185-9	410 EUREKA AVE. SE	Grand Rapids	MI	49506
		6185-84	348 39TH ST.	Allegan	MI	49010
	2:00pm	6185-88	6716 E HIGGINS LAKE DR	Roscommon	MI	48653
		6185-23	3420 KNEELAND STREET	Lewiston	MI	49756
	4:15pm	6185-39	3754 N Ausable Rd	East Tawas	MI	48730
	6:30pm	6185-89	3877 W. M61	Gladwin	MI	48624
		6185-36	1863 Eleven Mile Road	Auburn	MI	48611
Sat, Sep 22nd	9:00am	6185-67	4630 Wildwood Lane	Kimball	MI	48074
		6185-57	1735 Galbraith Line Road	Yale	MI	48097
	10:30am	6185-18	401 POINTE TREMBLE ROAD	Algonac	MI	48001
		6185-14	971 COLUMBIA	Algonac	MI	48001
		6185-17	309 NORTH 5TH STREET	Saint Clair	MI	48079
	12:30pm	6185-85	27757 HARRISON WOODS LN	Harrison Township	MI	48045
		6185-11	22814 ARCADIA	St. Clair Shores	MI	48082
	2:00pm	6185-12	16794 STRICKER	Eastpointe	MI	48021
		6185-25	8491 TIMKEN AVE	Warren	MI	48089
		6185-34	8526 Westminister	Warren	MI	48089
		6185-44	18904 RUNYON ST	Detroit	MI	48234
		6185-49	18714 WOODSIDE ST	Harper Woods	MI	482252122
		6185-55	5228 Lannoo	Detroit	MI	48236
	5:00pm	6185-79	4210 Rolling Pines Ct	Commerce Township	MI	48382
		6185-21	11415 MART ROAD	Whitmore Lake	MI	48189
		6185-68	11375 Katrine Dr	Fenton	MI	48430
		6185-91	9792 JUDD RD	Fowlerville	MI	48836
Mon, Sep 24th	8:30am	6185-38	12043 Rutherford	Detroit	MI	48227
		6185-15	24840 PRINCETON STREET	Dearborn	MI	48124
		6185-26	4750 WESTLAND ST	Dearborn	MI	48126
		6185-29	6992 LAFAYETTE	Dearborn Heights	MI	48127
		6185-40	23545 Cherry Hill	Dearborn	MI	48124
		6185-83	11697 GREENVIEW AVE	Detroit	MI	48228
	11:00am	6185-80	53 Longfellow	Detroit	MI	48202
		6185-27	320 E HARRY AVE	Hazel Park	MI	48030
		6185-33	300 Chandler	Detroit	MI	48202
		6185-37	1926 Oakman Boulevard	Detroit	MI	48238
		6185-52	27075 BARRINGTON ST	Madison Heights	MI	48071
	1:15pm	6185-97	20305 BEAVERLAND ST	Detroit	MI	48219
		6185-13	17714 CENTRALIA	Redford	MI	48240
		6185-64	18054 Ilene	Detroit	MI	48221
		6185-96	18979 OAKFIELD STREE	Detroit	MI	48235
		6185-98	21978 LEYTE	Farmington Hills	MI	48336
	3:45pm	6185-56	4437 Newberry Street	Wayne	MI	48184
		6185-20	1174 S HARVEY	Plymouth	MI	48170
		6185-42	6735 Whitby Street	Garden City	MI	48135
		6185-46	5711 NEW MEADOW DR	Ypsilanti	MI	48197
		6185-59	30603 Birchwood St	Westland	MI	48186
		6185-78	35707 Chestnut	Wayne	MI	48184
	6:15pm	6185-63	20109 Cumberland Ct	Brownstown	MI	48183
		6185-41	26300 Susan	Taylor	MI	48180
		6185-58	13528 Marvin Street	Taylor	MI	48180
		6185-61	23634 Lindsey Dr	Brownstown	MI	48134
Tue, Sep 25th	8:00am	6185-92	1451 Beach Dr	Lake Orion	MI	48360
		6185-45	540 E FLINT ST	Lake Orion	MI	48362
		6185-66	3043 Carly Court	Auburn Hills	MI	48326
		6185-77	46696 Waco St	Shelby Township	MI	48317
	9:00am	6185-93	1723 GLADSTONE	Detroit	MI	48206
	9:10am	6185-94	601 N CLINTON ST	Albion	MI	49224
	9:20am	6185-95	303 E WAYNE	Dowagiac	MI	49047
	9:30am	6185-43	19196 HOUGHTON ST	Detroit	MI	48219
	9:40am	6185-2	509 WEST YORK AVENUE	Flint	MI	48505
	9:50am	6185-1	3035- 39 HURLBUT	Detroit	MI	48214
	10:00am	6185-4	7728 RUTHERFORD	Detroit	MI	48228
	10:10am	6185-3	5902 LAKEWOOD	Detroit	MI	48213-0000
	10:15am	6185-76	1304 Westwood Drive	Flint	MI	48532
		6185-62	1496 E Parkwood	Burton	MI	48529
		6185-86	413 MAPLE ST	Owosso	MI	48867
	10:20am	6185-7	330 S ROSEMARY ST.	Lansing	MI	48917
	10:30am	6185-6	1615 RIBBLE STREET	Saginaw	MI	48601
	10:40am	6185-50	5594 Wayburn	Detroit	MI	48224
	10:50am	6185-47	855 KETTERING AVE	Pontiac	MI	483403254
	11:00am	6185-22	3990 14TH STREET	Ecorse	MI	48229
	11:10am	6185-48	519 W ERIE ST	Albion	MI	492241547
	11:20am	6185-51	24036 CARLYSLE	Dearborn	MI	48124
	11:30am	6185-24	25397 PEARL ST	Roseville	MI	48066
	11:40am	6185-31	2457 E 4th	Prescott	MI	48756
	11:50am	6185-32	54 Knox	Ecorse	MI	48229
	12:00pm	6185-30	8414 Chalfonte St	Detroit	MI	48238
	12:10pm	6185-53	19266 Irvington St.	Detroit	MI	48203
	12:20pm	6185-75	11798 West Outer Drive	Detroit	MI	48223
	12:30pm	6185-87	2034 PHILLIPS	Holt	MI	48842
		6185-5	321 DEXTER ROAD	Eaton Rapids	MI	48827
		6185-10	6088 RUTHERFORD	East Lansing	MI	48823
	12:30pm	6185-81	16800 WINSTON STREET	Detroit	MI	48219
	12:40pm	6185-82	19595 HAMBURG STREET	Detroit	MI	48205
	2:15pm	6185-16	2527 ASHTON RD	Jackson	MI	49203
		6185-54	727 S Pleasant	Jackson	MI	49203
		6185-90	620 SWAINS LAKE DRIVE	Concord	MI	49237
	4:30pm	6185-60	2304 W. Gorman Road	Adrian	MI	49221
		6185-35	835 S Winter Street	Adrian	MI	49221
	6:20pm	6185-99	11631 ST LOUIS	Detroit	MI	48212

michigan jumbo mortgage rates 5 and 7 year ARM 8/27/2007 Purchase or Refi; stated income optional

Alan Lacey- — Mon, 27 Aug 2007 15:16:48 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

Stated income no hit for borrowers with scores over 700!!!

I am not currently recommending jumbo fixed rate products in all but a very few cases going to the conforming limit of $417k and taking a second for the difference will give you a lower blended rate.

5 Year ARM:

I would offer 6.125%/6.551% apr

7 year ARM:

I would offer 6.25%/6.542% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

Free 60 day rate lock

Free float down to the best rate of any day between lock in and 3 days prior to closing.

No escrow required

Scores as low as 650 for full documented income

Stated income over 700 score no charge

Loan amounts up to 1.5 million at the quoted rate

NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

michigan mortgage rates NO COST 8/27/2007 LOCK IN YOUR ARM

Alan Lacey- — Mon, 27 Aug 2007 15:05:34 -0500

Michigan no cost mortgage, Michigan no fee mortgage, Michigan no closing cost mortgage

Assumes 30 year fixed mortgage with a $200k loan amount, rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

I would offer 6.75%/6.75% apr

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan mortgage rates 30 year fixed 8/27/2007 Lowest rates in months

Alan Lacey- — Mon, 27 Aug 2007 15:03:54 -0500

30 year fixed Michigan mortgage rates

Take advantage of the recent drop in rates to refinance and lock in your ARM!!!

I would offer 6.125%/6.287% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, 1% origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

michigan no cost mortgage 8/24/2007 LOCK IN YOUR ARM

Alan Lacey- — Thu, 23 Aug 2007 15:34:44 -0500

Michigan no cost mortgage, Michigan no fee mortgage, Michigan no closing cost mortgage

Assumes 30 year fixed mortgage with a $200k loan amount, rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

I would offer 6.75%/6.75% apr

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan Jumbo mortgage rates 5 and 7 year ARM's 8/24/2007 Stated income available

Alan Lacey- — Thu, 23 Aug 2007 15:28:05 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

I am not currently recommending jumbo fixed rate products in all but a very few cases going to the conforming limit of $417k and taking a second for the difference will give you a lower blended rate.

5 Year ARM:

I would offer 6.125%/6.551% apr

7 year ARM:

I would offer 6.25%/6.542% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

Free 60 day rate lock

Free float down to the best rate of any day between lock in and 3 days prior to closing.

No escrow required

Scores as low as 650 for full documented income

Stated income over 700 score no charge

Loan amounts up to 1.5 million at the quoted rate

NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

michigan mortgage rates 30 year fixed 8/24/2007 LOCK IN YOUR ARM

Alan Lacey- — Thu, 23 Aug 2007 15:17:08 -0500

30 year fixed Michigan mortgage rates

Take advantage of the recent drop in rates to refinance and lock in your ARM!!!

I would offer 6.25%/6.414% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, 1% origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan no cost mortgage rates, no fee, no lender fee 8/21/2007 LOCK IN A GOOD RATE ON YOUR ARM

Alan Lacey- — Tue, 21 Aug 2007 16:06:50 -0500

Michigan no cost mortgage, Michigan no fee mortgage, Michigan no closing cost mortgage

Assumes 30 year fixed mortgage with a $200k loan amount, rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

I would offer 6.75%/6.75% apr

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan jumbo mortgage rates: 5 year and 7 year ARM's 8/21/2007

Alan Lacey- — Tue, 21 Aug 2007 15:59:12 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

I am not currently recommending jumbo fixed rate products in all but a very few cases going to the conforming limit of $417k and taking a second for the difference will give you a lower blended rate.

Stated income no hit for borrowers with scores over 700!!!

5 Year ARM:

I would offer 6.125%/6.551% apr

7 year ARM:

I would offer 6.25%/6.542% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

Free 60 day rate lock
Free float down to the best rate of any day between lock in and 3 days prior to closing.
No escrow required
Scores as low as 650 for full documented income
Stated income over 700 score no charge
Loan amounts up to 1.5 million at the quoted rate
NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan mortgage rates 30 year fixed 8/21/2007 LOCK IN A GOOD RATE ON YOUR ARM

Alan Lacey- — Tue, 21 Aug 2007 15:46:07 -0500

30 year fixed Michigan mortgage rates

Take advantage of the recent drop in rates to refinance and lock in your ARM!!!

I would offer 6.25%/6.389% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, $1500 origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan Jumbo mortgage rates 8/20/2007

Alan Lacey- — Mon, 20 Aug 2007 16:21:36 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

Stated income same rate and terms with 700 score !!!

5 Year ARM:

I would offer 6.125%/6.551% apr

7 year ARM:

I would offer 6.375%/6.606% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

· Free 60 day rate lock

· Free float down to the best rate of any day between lock in and 3 days prior to closing.

· No escrow required

· Scores as low as 650 for full documented income

· Stated income over 700 score no charge

· Loan amounts up to 1.5 million at the quoted rate

· NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan Mortgage Rates 30 year fixed 8/20/2007

Alan Lacey- — Mon, 20 Aug 2007 16:16:44 -0500

30 year fixed Michigan mortgage rates

I would offer 6.375%/6.481% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, $800 origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan mortgage rates 30 year fixed 8/17/2007

Alan Lacey- — Fri, 17 Aug 2007 12:55:13 -0500

30 year fixed Michigan mortgage rates

I would offer 6.375%/6.515% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, $1500 origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan jumbo mortgage rates 8/17/2007

Alan Lacey- — Fri, 17 Aug 2007 12:51:28 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

Stated income same rate and terms with 700 score !!!

5 Year ARM:

I would offer 6.375%/6.651% apr

7 year ARM:

I would offer 6.5%/6.671% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

· Free 60 day rate lock

· Free float down to the best rate of any day between lock in and 3 days prior to closing.

· No escrow required

· Scores as low as 650 for full documented income

· Stated income over 700 score no charge

· Loan amounts up to 1.5 million at the quoted rate

· NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan jumbo mortgage rates 8/16/2007

Alan Lacey- — Thu, 16 Aug 2007 13:47:23 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

Stated income same rate and terms with 700 score !!!

5 Year ARM:

I would offer 6.375%/6.651% apr

7 year ARM:

I would offer 6.5%/6.671% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

· Free 60 day rate lock

· Free float down to the best rate of any day between lock in and 3 days prior to closing.

· No escrow required

· Scores as low as 650 for full documented income

· Stated income over 700 score no charge

· Loan amounts up to 1.5 million at the quoted rate

· NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan mortgage rates 30 year fixed 8/16/2007

Alan Lacey- — Thu, 16 Aug 2007 13:42:31 -0500

30 year fixed Michigan mortgage rates

I would offer 6.375%/6.574% apr

Assumes 30 year fixed mortgage with a $200k loan amount and a $250k home value, 1% origination fee with a 30 day rate lock. Based on a rate and term refinance with escrows, and that you meet conforming mortgage guidelines. Rates may vary based on loan size and credit score.

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.

Michigan jumbo mortgage rates 5 year and 7 year adjustable

Alan Lacey- — Wed, 15 Aug 2007 17:49:02 -0500

Michigan jumbo mortgage rates for 5 year and 7 year fixed ARMS

Stated income same rate and terms with 700 score !!!

5 Year ARM:

I would offer 6.375%/6.651% apr

7 year ARM:

I would offer 6.5%/6.671% apr

Assumes a $650k loan amount and an $813k home value, and a $2000 origination fee. Rates may vary based on loan size.

Special features:

Free 60 day rate lock

Free float down to the best rate of any day between lock in and 3 days prior to closing.

No escrow required
Scores as low as 650 for full documented income

Stated income over 700 score no charge

Loan amounts up to 1.5 million at the quoted rate

NO pmi for loans above 80% ( loan amounts maybe restricted)

Simply the best jumbo loan product I have ever been able to offer

To obtain more information and a to receive a quote specific to your needs and situation email alacey@principlemtg.com and we can schedule a time to talk

To apply: https://principlemtg.mortgagexsites.com/mercury/loanappweb/LoanAppNew.aspx?AWSAccountsID=438866&LanguageID=1

Make sure to select Alan Lacey as your loan officer.