My New Blog

They were yesterday when I rate "locked" a $400,000 loan on a $775,000 townhouse in San Francisco.  Client opted for 5.250%~30 year fixed with "No points and no fees."  In my case this means there are no loan origination fees, no "points" and I PAY all of the "closing costs" out of the rebate from the lender.  My client reduced their mortgage rate down to a 30 year fixed 5.250% AT NO COST.  We don't add the closing costs to the loan with this program, WE PAY THEM FOR YOU.  Hence, if your rate is higher than 5.250% and you're in need of a loan up to $417,000 then you best be talking to me right away.  Client has excellent credit, good income and the property was in good shape.

Jumbo loans, those over $729,000, are starting to have more program options and better pricing than before.  Keep an eye out for the low rates will not last much longer.