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"Conforming and High Balance Conforming" mortgage loan rates continue to one of the few good things about these world economic hard times BUT those of you with commercial Real Estate should also be taking advantage of this low interest rate environment. 

I also have SBA aka Small Business Administration Loans:

7A;  504 and SBA Express.

~Real estate purchase and refinance.

~Expanding your business.

~Buying equipment.

~Inventory.

~Starting a business.

~Working capital.

With SBA you realize a LOWER cash down payment, LONGER loan terms (Fully Amortized over 7-25 years) and NO balloon payment/refinance obligation.  SBA National Preferred Lenders which means expedited services and fast turnaround.  Call or email with inquiries or scenarios ...

Conforming being loans up to $417,000 ... a "no points" loan is running around 4.50-4.6250% (rates subject to change without notice given the volatility of the marketplace) and 4.750-4.875% for "no points and closing costs paid by lender."  If your rate is 5.00% or above, you can save a tidy sum each month for NO COST. 

$729,000 and below, also known a "High Balance Conforming" 4.875% is "no points" and 5.0-5.125% can be done without points and closing costs depending on your credit score and "loan-to-value."

These are 30 year fixed rates under discussion here.

Jumbo loan financing seems to be coming back ... the 1-3-5 year fixed make a lot of sense if you plan to payoff or move within the next 5 years.  You could save an exceptional amount of money.  I will provide specifics with a simple phone call/email inquiry on your part.

Remember, anyone can say anything rate wise but I am will to advance lock the rates I quote you after discussing your specific loan scenario.  Consultation is free and with no obligation.  If you're thinking about it, let's discuss to see if it makes sense for you.

The day will come when the spike is permanent ... let's make sure your mortgage rate is in the 4 percentile when that happens ... we're talking about paying the lowest possible interest rate because we're talking about decades of interest on thousands and thousands of dollars. 

Lenders are swamped, this is the time when mortgage brokers are pulling out their hair every day but when all is said and done, those mortgage brokers that left, we who are in it for the long term, we LIVE for the times when we can bring almost everything in the 5's and above interest rates down to significant MONTHLY savings ...

1-800-883-8820x288 ~ it's a free phone call ~ I'm here to save you money!

15 day rate locked client's $400,000 refinance loan (good credit, low "loan-to-value) at 4.500% fixed for 30 years with NO POINTS, borrower pays closing costs. 

There was also a small cashout on this loan.  Pricing is GREAT right NOW so if you are at 5.0 or higher, 4.875% is a NO COST LOAN.  I PAY the closing costs at that rate with TODAY'S pricing.  Pricing subject to change ... it's not what is quoted, it is what is LOCKED.

Let's say you refinanced your $400,000 mortgage 6 months ago and lowered your interest rate to say 5.25%.  Your reduced monthly payment on that refinanced mortgage is around $2,208.82  Sitting pretty for the next 30 years?

Today on a 15 or 30 day "rate lock" for the above scenario with good credit and "loan-to-value" I am at 4.750% with a NO COST REFINANCE, where there are no points, no loan orginiation fees and I pay all of the non-recurring closing costs~I PAY THE CLOSING COSTS~new payment = $2,086.59

How would you like to make $122.23/month for the next 30 years?  Does a "gift" of $44,000+ over the term of a 30 year fixed rate loan sound to you?

OR you could keep making the previous monthly payment amount and reduce the number of years it takes to pay that mortgage off ... either way, YOU WIN. 

WIN/WIN ~ I like that.

Conforming (up to $417,000) is at 4.625% 30 Year Fixed ... Never thought I would see rates this low ... what's up with that, huh? 

High balance conforming (up to $729,750) can possibly be done at 4.875%.  If you want to pay for a lower rate, they are certainly available.

The point here is if you have a higher rate than this, can qualify, then you should be doing something with me NOW because you can save money every month with a lower rate and those rates (subject to change, duh ...) are here NOW and could disappear tomorrow.  I can lock the rate in for you, for that matter.  Call me or email me today with your inquiry or send me your name and address and I will send out a loan application package.

You snooze, you lose.

Mortgage rates sink to record low, says Freddie Mac 
http://usat.me?38997568 
 
To view the story, click the link or paste it into your browser

One might think we've reached a point where the rates started going up and staying up BUT NOOOOOOOO ...  Ahaha!!!  Great news for all you "on the fence" refinancers ... There really is NO BETTER TIME THAN NOW ...

Hate to sound like SPAM but click on the story above for the real scoop ... talk to you soon !!!

5 year fixed with 30 year amortization, depending on "Loan-To-Value" and credit qualification;  5.10%-4.77%.

7 year fixed ... 5.49-5.18%

10 year fixed ... 5.81-6.68%

Strike a responsive chord?  Call me, let's talk while the rates are still ridiculously LOW. 

Maybe because hardly anyone can qualify anymore?  Ahaha ~ nah, not really.

However, if you currently have a commercial loan, it really behooves you to take a look at your options and opportunities. 

And there's lots of bargains out there ... get pre-qualified ...

There is stated income ... 40% down on a purchase, with reasonable credit. 

Any other questions?  Make it a great day.

Today's pricing on a "No Point/No Fee" whereby the all non-recurring closing costs are paid out of a lender's rebate so it's a free refinance loan ... Conforming, owner-occupied, single family residence pricing today is 5.00% fixed for 30 years with no closing cost.  Credit qualified of course. 

This means, if you're current rate is 5.500 or higher, you should be calling me right now.  Rates subject to change and all of that ... NO COST LOAN !!!

Conforming "high balance" up to $729,000 is looking really good also.