interest rates: RATE UPDATE!!! 2.5% AVAILABLE!!! 2.602% APR - 01/12/11 06:51 PM
 It's been a while since i have posted any rate information, and with rates bouncing up and down on a daily basis, i figured now would be a good time. The above rate is for a five year fixed, also know an an arm. The rate is fixed for 5 five years and then can adjust once a year for the remainder of the term of the loan. The margin for the loan is 2.25%, and the index is the 1 year libor, which is currently at .784. This is a great rate, but this loan is not for everyone. So if you … (1 comments)

interest rates: 4% 15 Year Fixed Officially Available!! No Points! - 03/02/10 05:28 AM
That's right, now you can get a 15 Year Fixed Loan @ 4% (apr 4.228). Here are some of the requirements to get this loan: Primary Residence, Rate and Term refinance, LTV 80% or less, Loan Amount $150,000 or greater, credit score 720 or greater, and 1 % Origination fee, NO discount points or processing fees. Other restrictions may apply, please call for details. P.S. If you would like to eliminate the origination fee, the rate would be 4.25% (apr 4.329) with a possible credit back to you towards closing costs.
 
Posted by Joseph P. Mazzei at www.mymortgagebroker.blogspot.com
and
www.tampa-mortgage-broker.blogspot.com
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interest rates: Interest Rate Update: 4.5% 30 year Fixed - 03/01/10 05:46 PM
4.5 % Percent is available again, although, as usual with certain restrictions. But, if you are a borrower with excellent credit that has been waiting to refinance, now is the time. Here is a sample of the requirements to obtain this rate: Primary Residence, Rate and Term refinance, 70% Loan to Value, Middle Credit Score of 720 or better, and a loan amount of 200K or more. The Cost for this rate would be approximately 1 percent of the loan amount. I say approximately because rates change every day, sometimes they change several times throughout the day. So if you would … (0 comments)

interest rates: ATTACK OF THE PHANTOM GUIDELINE! THE CONCLUSION - 06/20/09 07:16 AM
When we last left our hero, Moe Jazzei, he was battling the evil PHANTOM GUIDELINE. Unable to locate this 20% square footage appraisal requirement in any underwriting manual, moe was unsure about the fate of his otherwise perfect loan.
Just then the phone rang, it was the Nuntrust account rep. " I checked with our help desk, Moe, they can't find this guideline either." " That's because it doesn't exist!", Moe quipped. Its a PHANTOM GUIDELINE!!" "Wait there's more. I spoke with the underwriting supervisor and she waived the condition."
"Hal-a- frickin' lew yah!!" Moe shouted. Once again the PHANTOM GUIDELINE … (1 comments)

interest rates: 4.25% Is Now Available on a 30 Year Fixed!!! - 04/16/09 03:49 PM
This is basically just a follow up to my previous post. 4.25 is available, but it will probably cost you two points or a little more depending on your broker (I can do it for two points). But its been over 50 years since these kinds of rates were available, so it just might make sense to pay the points and take advantage of what the market has to offer.
(2 comments)

interest rates: 4.5% 30 Year Fixed is Available Again!! But it Probably wont last. - 04/07/09 07:03 AM
 Due to the goverment buying Fannie Mae debt (mortgage backed securities), rates have once again come down to the 4.5% range. Provided you have a 740 middle ccredit score and a loan to value of 80% or less. And these are conventional rates, not government (FHA and VA); those rates are a little bit higher.
Market sentiment seems to be improving, and when this happens, yields on govenment debt (bonds and treasuries) begin to rise. And since Fannie Mae has to compete with government debt in the open market, they typically raise their rates as well, which translates into higher mortgage … (5 comments)

interest rates: Refi Plus - The New Refinance Loan - 03/12/09 04:09 PM
Here are some of the finer points of the new refinance program being offered to lenders by Fannie Mae, and hopefully offered by lenders to brokers. That information is still forthcoming.
Maximum LTV Ratio
The maximum LTV ratio for DU Refi Plus and Refi Plus is 105 percent. There is no maximum CLTV or HCLTV; however, new subordinate financing is not permitted in conjunction with a DU Refi Plus or Refi Plus transaction.
MI Requirements
For new refinance transactions with an LTV ratio that exceeds 80 percent, MI may or may not be required depending on the current MI coverage … (0 comments)

interest rates: Refinance Help Has Finally Arrived - Well, Kind Of. - 03/05/09 07:28 PM
The Making Home Affordable program announced by the Department of the Treasury on March 4, 2009, includes a new initiative – Home Affordable Refinance – to provide refinance opportunities to borrowers with mortgages held or guaranteed by Fannie Mae. This initiative is for borrowers who have demonstrated an acceptable payment history on their mortgage but due to a decline in home prices or where mortgage insurance (MI) is not available, have been unable to refinance to obtain a lower payment or move to a more stable product. The Federal Housing Finance Agency (FHFA) has also provided greater flexibility to Fannie Mae … (3 comments)

interest rates: 4.25% 15 Year Fixed Officially Available!! - 01/06/09 04:49 PM
That's right, it's not a typo. Provided you have the right loan scenario (credit score above 720, ltv 80% or less, sfr, owner occupied), you can actually get a 15 year fixed rate at 4.25%. In addition, if you really wanted to be aggressive, you may be able to buy down the rate to around 4%. I haven't seen rates this low since 2003, and those rates were on arm loans.
(3 comments)

interest rates: 4.5% 30 Year Fixed is officially available!!! - 12/16/08 05:07 PM
depending on your loan scenario (credit score, ltv, down payment), you are now able to obtain a 30 year fixed rate mortgage loan @ 4.5%. these rates are available to anyone who qualifies, and they are not restricted to 1st time homebuyer programs.
(5 comments)

interest rates: Treasury Department Considers Plan to Lower Mortgage Rates - 12/03/08 10:55 AM
I think the FDIC is beginning to get finally get it. Either that, or they are reading my blog.
AP
WASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market.
Under the proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent, Scott Talbott, a vice president at the Financial Services Roundtable, said Wednesday.
That's about one percentage point below the current rate of 5.6 percent.
Treasury would do so by purchasing mortgage-backed securities from Fannie Mae and Freddie Mac, Talbott … (0 comments)

 
Joseph Mazzei, Why pay retail you you can get it Wholesale? (Wholesale Mortgage Services)

Joseph Mazzei

Why pay retail you you can get it Wholesale?

Tampa, FL

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