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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 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.