mortgage rates: Virginia - 02/11/11 08:16 AM
Virginia mortgage rules are strictly followed. On obtaining a mortgage, the borrower has to submit a form to the lender. The lender verifies the form and demands mortgage details of the property from the borrower. The borrower then has to submit a separate written document about property, credits and his income. After complete verification and inspection of documents, the lender is enabled to lend the money on fulfillment of terms and conditions by both parties.
After the full payment of the loan, there is a separate procedure to follow to complete the mortgage procedure. Every mortgage loans in the US demands … (0 comments)

mortgage rates: Qualification for ARMs - 02/11/11 07:34 AM
For conventional ARM products, you need to know how a borrower will be qualified. If the ARM product is for a 3 or 5 yr ARM, they will be qualified at; the Note plus 2% or the fully indexed rate plus the margin, whichever one is higher. If the ARM product is for a 7ry ARM, the borrower will be qualified at the Note rate. 
On a 5 yr ARM, if the Note rate is 3.5%, for 200k loan, the actual payment will be; $898.09. The borrower will be qualified at, $1135.58, an almost $240 increase for underwriting purposes. ARMs can … (0 comments)

 
Alex Echeandia (Primex Mortgage)

Alex Echeandia

Rockville, MD

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Primex Mortgage

Address: 5834 Hubbard Dr, Rockville, MD, 20852

Office: (301) 468-5600

Mobile: (301) 802-6426

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