Rate Update: 3.49% is Available! Thats Right, I said 3.49%!

Mortgage and Lending with Wholesale Mortgage Services Individual NMLS ID 331194

Heres the catch: In order to get this rate, you gotta have at least a 750 middle fico score, an ltv of 75% or below, a loan amount of $250,000 or more (up to 417,000.00) and its gonna cost you 1.5 points total. If its a purchase loan, the cost is only 1.25 points. One last thing, this is a 5/1 adjustable and these rates are for Florida only (other states could be more or less, but i mainly do loans in florida). If you want a little more security, i can do a 7/1 arm at 3.99, same cost. Get em' while they're hot, these rates wont last long! (apr 3.6 and 4.09 respectively and obviously not everyone will qualify for these rates)

Comments (4)

Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

You had me! Until you said "Florida only", that is? Are these funds from a small fund? Why would it be Florida only?

Aug 03, 2009 05:09 PM
Jim Hale
Eugene Oregon's Best Home Search Website

You had me until you said 5/1.  I try to stay at ARM's length from adjustables.  Is this a hot item in Florida?

Aug 03, 2009 05:27 PM
Joseph Mazzei
Wholesale Mortgage Services - Tampa, FL
Why pay retail you you can get it Wholesale?

Vickie, let me rephrase that. I am only doing this loan in florida. you can get this loan elsewhere. Its not a small fund, it's from one of the largest banks in the country (top ten)

Frank, this is a hot item everywhere. I like your pun though. arms are not for everyone.

p.s. i edited my article to say that you can get this rate elsewhere, but i am mainly a florida broker.

Aug 03, 2009 05:41 PM
Joseph Mazzei
Wholesale Mortgage Services - Tampa, FL
Why pay retail you you can get it Wholesale?

Jim, one question. How many loans have you had in the last 30 years? I realize you may be averse to arms, but whenever some tells me they only want a 30 year fixed, i always ask them how many loans they have had in the past 5, 10, or 30 years. the answer is usually more than one. So why get a thirty year loan if your not gonna be in the loan for thirty years?

Sep 18, 2009 04:35 AM

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