Stated Home Loan for 5.5% – 30 yrs FIXED – only for our valuable clients
BEST HOLLYWOOD HOMES TEAM WORKS WITH MORTGAGE BROKERS THAT CAN HELP YOU WITHOUT COMPROMISING THEIR INTEGRITY.
Call Best Hollywood Homes Team at 310-499-1305 to discuss your real estate needs first with our real estate consultants. After we mutually agree to work together on your next real estate purchase, we will put you in touch with a mortgage specialist for you to discuss your financial situation with them.
These are the best that I’ve seen rates in months. The market responded very favorably to the nationalization of Fannie and Freddie. These programs have barely been affected by the changes in the marketplace.
Here are some real loan options for “Stated” income borrowers:
–5.5% 30 year FIXED STATED!!
Available to $417,000 (small combo 2nds also available)
Will lend to 90% LTV (for employees, 80% for Self Employed) same rate up to 90%.
Owner Occupied and Second Home
PURCHASE, CASH OUT or REFI
Minimum 700 FICO
No reserve requirement
2.0 points + $995 broker fees (for 5.5%)
5.875% available at 1.0 point +$995
No points available at 6.25%
–INVESTOR 30 year fixed at 6.375% STATED!
Available to $417,000
Will lend up to 80% LTV
Maximum 4 financed properties, including primary
Purchase, Refi, and Cash Out
1 unit ONLY
2 months reserves
Seller can credit up to 2.0% towards closing costs
700 Minimum FICO, 720 preferred
6.375% Rate based on 75% LTV. At 80% it is 6.75%.
1.25 Point + $995 broker fees
–INVESTOR 30 year fixed at 6.375% STATED!
Available to 729,500 in high cost counties or county limit
Minimum 720 FICO required
will lend to 80% on Purchases and Rate and Term ONLY
–NO Cash out loans
1.0 point + $995
Only 2 months reserves
To qualify a buyer for a “Stated” loan a credit must be pulled and have a complete loan application.
***These programs are designed to help those who normally would be well qualified borrowers who now have a difficult time meeting lender requirements. OUR MORTGAGE SPECIALISTS WILL NOT DO A LOAN that compromises their integrity and challenges a borrower’s ability to repay. 90% Stated loan will be only done for those borrowers who have another source of income that cannot documented.
Are you a State of California Employee?
Are you a State of California Employee (example: Cal Highway Patrol, CalTrans, State Prisons, State Hospitals, DMV, Franchise Tax Board), County Employees (examples: City Parks & Recreation, City Mayors Office, City Fire Department, City Libraries, City Clerk Office), Municipal Employees (examples: City Utilities workers, LA DWP, Calif Legislature Employees, including Judges, Court reporters, School Employees, Cafeteria, Administration, Custodians Yard Maintenance, California State University System Employees
Rates for conforming loans up to $417,000
and JUMBO loans up to $1,668,000.00 !!!!!!.
Check out these benefits for CalPERS Members:
• Competitive Interest Rates on Purchases & Refinances
• 100% Financing Options*
• Controlled Closing Costs
• 30, 60 or 90-Day Rate Lock with 2 float down Opportunities*
• Reduced Mortgage Insurance Rates*
• Reduced Escrow & Title Fees*
• Closing Cost Assistance*
• Real Estate Assistance with Cash Rebate*
• Program Available Nationwide!
Please call me if you have any questions regarding this program!
Todd DwyerLet me be the Mortgage Professional you Deservetodd@todddwyer.comwww.USFHMTG.com
Direct 310-500-7801* subject to approval
Time to lock in your mortgage rate
Thursday, August 07, 2008
Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®
Although still historically low, mortgage rates are rising slightly. Some analysts predict that mortgage rates will continue to increase over the next six weeks, while some forecasters expect rates to reach 7 percent by year’s end. Experts recommend that consumers work with their mortgage servicer to lock in a low interest rate. A “locked” or fixed rate will provide consumers long-term savings, and allow home buyers to determine their monthly homeowner expenses several weeks before closing.
MAKING SENSE OF THE STORY FOR CONSUMERS
• With inflation rising and some investors in mortgage-backed securities demanding higher rates to purchase bonds, home buyers should work with their broker to lock in a low interest rate. For every half point interest rate increase, the monthly payment on a typical $294,600 mortgage increases by approximately $100. That adds up to a savings of roughly $1,200 annually and $36,000 over the life of a 30-year loan. The calculations are based on the median price of a single-family existing home in California in June of $368,250 and the borrower providing a 20 percent down payment.
• To lock in an interest rate, consumers should contact their broker and request the rate in writing. As long as the home buyer has a contract or a binder on the home, this should be a simple request. Rates can be locked in for up to 60 days, by only adding an extra eighth of a point to the rate. If a consumer would like the interest rate to be guaranteed for longer than 60 days, most lenders will request some payment up front.
• Locking in interest rates is not without risk. If prevailing interest rates decrease, consumers with a locked rate may have to pay the higher interest rate. Some lenders may offer consumers the lower rate plus an eighth of a point, if the rates drop substantially. That scenario does not seem likely though, based on current economic conditions.
Response to Igor Korosec regarding his support for permanently increasing the conforming loan limit
Dear Mr. Korosec:
Thank you for contacting me to express your support for permanently increasing the conforming loan limit. I appreciate the time you took to write and agree with you.
The Federal Housing Administration (FHA) plays an important role in insuring home mortgages for those in underserved communities. It is critical that FHA programs be modernized to provide more homebuyers and borrowers looking to refinance with the opportunity to obtain an FHA loan. This remains especially important in California where the cost of housing remains high. For homebuyers faced with so-called “jumbo loans” subject to higher interest rates, raising the government-sponsored enterprise (GSE) conforming loan limit will bring more liquidity to the market and lower interest rates.
On February 13, 2008, the President signed the Economic Stimulus Act of 2008 (H.R. 5140) into law. As the bill was being developed, I sent a letter to Senator Majority Leader Harry Reid (D-NV) expressing strong support for increasing the previous GSE conforming loan limit of $417,000 and the FHA loan limit of $362,790 to $729,750. While I am pleased that a temporary increase was included in the bill, the new loan limits will expire on December 31, 2008.
On July 11, 2008, the Senate passed the “Foreclosure Prevention Act of 2008,” (H.R. 3221) introduced by Senators Christopher J. Dodd (D-CT) and Richard C. Shelby (R-AL). Prior to Senate consideration of the bill, I urged Senators Dodd and Shelby to keep the FHA loan limit and GSE conforming loan limits at the current level of $729,750. The Senate passed its version of H.R. 3221 on July 11, 2008. While the Senate-passed version of the bill would only raise the loan limits to $625,500, the House-passed version would keep them at their current level. On July 11, 2008, I joined 52 members of the California Congressional delegation in sending a letter to leaders of the Senate and House leadership urging them to retain the $729,750 limits in the final version of this important bill.
I fully support the higher limit and will continue to push to make it permanent.
Thanks for writing.
Sincerely yours,
Dianne Feinstein
United States Senator
The Truth about Making Money in Today’s Real Estate Market
We would like to offer a complimentary real estate seminar (a $99 value) as a benefit to the employees at your company.
We would like to share our experience and knowledge to teach people how to make educated decisions about buying, selling and investing in today’s real estate market.
There is no obligation to buy anything. We are not selling products or services. Our mission is to educate and provide guidance with honesty and integrity for people who may be overwhelmed, doubtful or indecisive due to misleading messages in the media about local real estate. For example, did you know there are areas in Los Angeles county that have appreciated over the last year?
As realtors and members of the California Association of Realtors (CAR) and National Association of Realtors (NAR) we will discuss the facts not the hype. Topics will include:
• Last Market Crash
• Best Buying Opportunity in 35 years
• Where are the Deals?
• Why Should You Buy in Today’s Market?
• Why Should You Sell in Today’s Market?
• What You Should Know Before Buying?
• Incentives, Discounts, Promotions
• Ideas to Get a Down Payment
• How Does the Process Work?
Call us now!
Best Hollywood Homes Team & Promenade Realtors
http://www.BestHollywoodHomes.com
Email Igor Korosec
Gayle Barnes
Keller Williams Realty Sunset
CREDIT REPAIR & INCREASE FICO SCORE
Here is a CREDIT REPAIR program that is guaranteed … if they cannot do the job as advertised and that means improve your FICO SCORE they will refund your $$$. Results often in the first month. (FYI: I saw results for my clients in 2 weeks). Average increase in FICO 80-120 pts.
To learn about what they do and/or to sign up for the service: https://bhh.fixcreditbiz.com/index.php 24/7 Five Minute Overview (713) 493 – 2596
They give you a 800# to customer service and a password protected website to monitor your progress 24/7…
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Learn how to do the business as an affiliate or just earn some money by referring go here http://demo.FixCreditBiz.com/business (username = demo, password=demo)
24/7 Five Minute Overview (713) 481 – 6748
There are 3 ways to take advantage of this opportunity
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Call me at 310-499-1305 if you have any questions & I will give you an honest answer based on my experience dealing with this. Several of my real estate clients got their items removed and are pre-approved to make a home purchase.
Igor Korosec
Real Estate Consultant & Foreclosure Therapist
When I earn your confidence & trust, you will enthusiastically send your friends, family and acquaintances my way – just because you truly believe they will benefit from what I have to offer.
