Mortgage bonds are “flirting” with the highest prices in 40-50 years, pushing fixed mortgage rates down.
Things to remember:
1.Primary and Second Home rates are the same. We can do up to 90% second home financing.
2.Investment home rates with 25% down will only be slightly higher then Primary or Second home rates (with good credit of course). We can do up to 80% investment.
3.USDA loans are available to 100%, primary homes only with income restrictions.
4.FHA loans are available to 96 ½%, primary homes only.
5.Jumbo loans are available to $3 million. The larger the loan the larger the down payment required.
If you know someone whose home value has dropped and they do not think they can refinance and take advantage of today’s record low rates, have them call me. We have access to the governments’, “Making Homes Affordable” loan refinance program and have been able to help people up to a LTV of 105%. For example, if their home is now only worth $200,000 and the own $210,000 on a mortgage, we may be able to help.
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