WE HAVE PRICING ON THE NEW “CONFORMING-JUMBO” PRODUCTS!
Inexperience will cause headaches—especially in this market. Call me for your mortgage needs, experience and honesty result in smooth transactions---I have both.
Rates are updated to include Conforming-Jumbo and FHA as both have loan limits to $729,750 in most areas of California.
More major swings up and down in the bond markets this week, a lot of the activity swirling around the secondary markets and how (whether?) investors will react to the new jumbo-conforming and jumbo-FHA mortgages. Current results is some favorable activity on the jumbo rates, while the week resulted in a net negative for conforming.
It is important to note on the new loan amounts that there are restrictions for the guidelines, do not assume that you are eligible, or that you are not. Please contact me with the scenario so we can discuss your options.
NOTE PRICING BELOW IS BASED ON 20% DOWN FOR JUMBO LOANS AND 10% DOWN FOR CONFORMING, FULL DOC, AND FICOS OF 720 AND ABOVE:
30 year conventional at 1 point 5.625% (up .125% from last Friday)
30 year conforming-jumbo at 1 point 6.375% (flat)
30 year FHA at 1 point 5.5% (3 % down plus mortgage insurance premiums)
30 year jumbo at 1 point 7.250% (drop of 0.250% from last Friday)
Thank you to those of you who referred me this week, I appreciate your trust and confidence in knowing I will provide your friends, family and co-workers the same excellent service I provided you!
I would appreciate it if you could pass my name on to someone who needs mortgage information this week, or send me their name and contact information and I am happy to see how I can be of service. Thank you!
Please feel free to forward this email to your co-workers and clients--or send them to my Mortgage Blog where it is posted weekly.
Have a great weekend,
Dennis
Dennis C. SmithStratis FinancialDirect (562) 472-1118
Mobile (562) 243-6912
Fax (562) 684-4316
www.DennisCSmith.com : apply on-line, check rates, check loan status and much more
Dennis C. Smith, California Dept. of Real Estate Broker #00966315 Stratis Financial Corporation, California Dept. of Real Estate Broker #01269597
Dennis C. Smith, California Dept. of Real Estate Broker #00966315
Stratis Financial Corporation, California Dept. of Real Estate Broker #01269597
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