Are you in the JUMBO home loan range?
Do you want to refinance at historically low rates?
Now is the opportunity!!!!
Purchase Scenario:
Price $1,000,000
Fico Score 720+
Full Document required (paystubs, W2, tax returns, asset statements)
Single Family Residence
Owner Occupied
30% Down Payment
|
A. Mortgage |
Loan Amount |
Program |
Rate |
Monthly Payment |
Prepay |
|
1st |
$417,000 |
30 yr Fixed |
4.875% |
$2,206.79 |
None |
|
2nd |
$283,000 |
HELOC |
4.750% |
$1,120.20 |
$500 Max |
| Payment Total: $3,326.99 | |||||
|
B. Mortgage |
Loan Amount |
Program |
Rate |
Monthly Payment |
Prepay |
|
1st |
$700,000 |
5/1 Arm |
5.000% |
$3,757.75 |
None |
| Payment Total: $3,757.75 | |||||
Apr (A.) 1st 5.003% (B.) 1st 4.154%
Payment Savings: $430.76 per month.
All long term JUMBO fixed rates have been priced high because of the financial crisis. Many lenders have stepped into the market offering short term Adjustable Rate Mortgages (ARM). The downfall is we do NOT know where rates will be in the near future when your ARM matures.
The JUMBO home loan combo option is back and strong. Take advantage of this opportunity before the opportunity is lost. If you are looking to REFINANCE, please ask!
Please ask questions directly at 425.818.2078.
Thanks
The Mortgage Reel
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