Opportunity knocks and Appraisal concerns - Eric's Daily Rate Watch Aug 31, 2011

Mortgage and Lending with Directors Mortgage, NMLS-3240 NMLS-97776

Eric's Daily Rate Watch 

August 31, 2011   -   8:46am PST   -  Lock Before Rates Rise! 
Opportunity and Appraisals - Yesterday we hit the record low rates again.  Also, Eric gives an update on what's happening with appraisals in this market - great info!
Opportunity and Appraisals - Yesterday we hit the record low rates again. Also, Eric gives an update on what's happening with appraisals in this market - great info!

This will open in my YouTube page in separate window.  Be sure to come back to this page to read the rest of the articles below!

Today's Rates at a Glance
Pricing shown actually available at time of publication and may change up/down during the day.  Most loans can be "bought-down" further to lower rate. "Zero-fee" loans available.  Call for details.  

CONFORMING  ($417k or less - pmt based on $250k)
RATE       APR        P&I Pmt   
3.875       4.096       $1176        30yr Fixed - WOW! 
4.125       4.671       $1212        30yr Fixed - 97%LTV with MI
4.500       4.692       $1267        30yr Fixed - 95%LTV - no MI 
3.250       3.398       $1756        15yr Fixed - WOW! 
4.375       4.426       $1248        30yr Fixed investment - WOW! 
10yr, 20yr, and 25yr Fixed available - Call for Details

2.625       2.894       $1004        5/1 ARM

3.000       3.152       $1054        7/1 ARM

3.750       4.733       $1158        30yr Fixed FHA
3.500       4.516       $1787        15yr Fixed FHA  
3.250       4.216       $1157        5/1 ARM FHA
Fantastic pricing also available for VA & USDA

JUMBO  (above $417k - pmt based on $600k)

RATE       APR        P&I Pmt   
4.750       4.853       $3130        30yr Fixed - WOW! 
3.125       3.296       $2570        5/1 ARM Jumbo

3.375       3.408       $2653        7/1 ARM Jumbo

We have Jumbo Loans up to 90% loan-to-value


Current Product Offerings Include:

Purchase, Refinance, Construction, Commercial, Investment Property, Single & Multi-family, Conventional, FHA, VA, USDA, Cash-out, Streamline refi's, No-Cost refi's available ... and more ... And we lend our own funds for most of these loans (closing faster than brokers, big banks, credit unions with better rates)


Interest rates as of 31 August 2011 - 8:46am PST, and are subject to change without notice.  Please call for up-to-the-minute accurate quotes and Pre-Approvals.  Pricing based on a single-family primary residence and 25day lock in Oregon.  Washington rates "may" vary slightly.  FHA, USDA, VA rates factored on a middle credit score of 640 and 96.5% ltv for FHA and 100% ltv for USDA or VA.  USDA has income & property restrictions.  Lower credit score loans are possible under certain circumstances (call for details).  Conventional rates shown based on credit-score of 740 and 75% or less ltv, with impounds. Jumbo pricing based on 75% ltv (fixed) and 75% ltv (ARMs) with impounds.  Lower credit-score programs may be available at slightly higher rates.  Reduced or "no-cost" loans available upon request.  Other restrictions to any program may apply. This offer is not a firm committment to lend.  Individual program qualifications may apply.  Currently locked rates may be reduced if enough market improvement - call for details on our "floatdown" policy.

Call 503.698.5801 for program details and scenarios ... find out what you qualify for! 
We Need a Full-Time Assistant - Apply Now! 


My loan volume has grown to the point that I can no longer go it alone ... nice problem to have right?


I do have company staff backing me up on files, but now I am seeking a full-time marketing/database assistant to help me grow further!


Watch the following short video as I explain specifically what I'm looking for and details on the job:

CALL OR EMAIL ME right away if you know anyone who might be qualified and  interested!!


503.698.5801  or  eric@gonwloans.com



Dow at 2011 High - more gains        Stocks rose more than 1 percent on Wednesday, extending the previous day's run on hopes the Federal Reserve would act again to boost the economy after a new batch of mostly soft economic data.   

 Full Story  


Spring Home Buying Boosts Values

Spring buying pushed home prices up for a third straight month in most major U.S. cities in June. But the housing market remains shaky, and further price declines are expected this year.

Rest of Story 

Be Careful Who You Lock Your Rate With!!     


Right now, mortgage rates are at historical lows.  We're seeing record low rates on many programs, and increased refinance volume. 


If you are like most HomeOwners, you want to get the best possible deal, so you shop around.  That's not unusual. 


However, over the past few years, during our rate-dip seasons, I have found that many refinance clients make the same mistakes over and over. You don't want to be "caught" in a trap that ends up costing more later. 


CLICK HERE to read the article I wrote earlier last week.  Great information that you need to be aware of before hiring a lender!

In This Issue
We need full-time assistant
Wall Street Update
Be Careful Who You Lock With
About Us
Our Client's Say it Best

5 star logo updated

Eric clients rate him Excellent in Customer Satisfaction!!

(independent survey)


Join Our Mailing List
HBM sold


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Who We Are

Skyline Home Loans is a DIRECT LENDER.
This means we fund most of our loans through our own bank lines, have in-house underwriting & funding, along with very competitive terms and fees.  We have assembled one of the strongest teams in the industry, which allow us to provide outstanding customer service.

Whether you are purchasing your first home, or your 10th rental property, we are committed to explaining all the available options and ensuring a smooth & timely closing. 

What If I Lock and Rates Dip?
If you instruct us to lock your rate, and the next week the market improves enough, we may be able to reduce the rate we locked for you by re-negotiating with our investors. 

We are monitoring the markets in real-time EVERY DAY, so if a change occurs, we will notify you.  Any change does require enough market improvement (usually 1/4 - 3/8%) - call for details. 

Our Clients Say ... 


"My jaw dropped ... you are a rockstar Eric!"   Kristin


"WOW, you continue to impress us"  Jennifer


"You are my guy. I trust what you tell me"  Gary


"We appreciate how easy this process was"  K.L.


"Couldn't have asked for a smoother closing"  Mike


"I really appreciate your dedication.  I will tell everyone I know about you"  Michelle


"I wish everyone I did business with demonstrated the same level of professionalism and competence"  David


"Easiest and least painful refi ... EVER"   Jim


"You met and exceeded everything I hoped for - thank you!"  Rob


"You will definitely have ALL my future business"   Dave


"It's great this moved so fast!"   Floyd


"I'm so excited!"   Ashley



"You are a man of character and integrity who always has the best interests of your clients as your priority"    Merrilee 


"Thank you for listening, Eric"   Janet


"You are the best one out there.  Nobody else goes the extra mile like you do"

Realtor referral partner


"Impressive!!"    John

Eric new photo 03012011Skyline HL Logoericnewman
Senior Mortgage Banker
DIRECT  503.698.5801
           CELL 503.997.5285
MLO-97776  ~ NMLS-12072               10121 SE Sunnyside Rd, Suite 230    Clackamas, OR  97015                      2010 GFE
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ERIC NEWMAN  |  Loan Officer |  NMLS# 97776     
Office: 503.698.5801  |  Cell: 503.997.5285   |  Fax: 503.716.4604    
Guild Mortgage Company  |  NMLS# 3274  |  10135 SE Sunnyside Rd, Ste 220, Clackamas, OR 97015  


NW Mortgage Group has been acquired by Guild Mortgage  -  Read the full press release


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Eric Newman

Loan Officer with 25yrs in Housing, NMLS-97776
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