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  • April 1, 2008 at 4:11 PM #12313
    Coronita
    Participant

    So i walked into my BofA branch to conduct local deposits, when I noticed a new flyer circulating today that caught me by surprise. They were advertising 30year fixed jumbo loans at 4.95%.

     

    I thought this was a too good to be true, so I sat down with a loan specialist, and she confirmed that they were offering these incredible deals. Yup 4.95% and no points!!!  Apparently, the recent bad news in RE markets were so bad, that  BofA is having a hard time to find qualified borrowers…So they are running this promotion. My understanding is that it is available to both new buyers and people who want to refinance, though refinancing, rates are slightly higher.

    Here's the details:

    1. 4.95% 30 year jumbo/ 0 points 0 fees.

    2. Downpayment as low as 5% (preferred)

    3. Full doc loan accepted, though priority will be given to stated income loan.

    4. For refinancing, you must have paid only 1 out of the last 12 mortgage payments over the past year, or have been behind at least 6 mortgage payments in a row.

    5. You must have qualified for the Federal Incentive Rebate. If you did not receive a rebate check, you are disqualified from this promotion.

    6. You must have a minimum balance of $5000 on all your credit cards combined. Zero balance CC holders do not qualify.

    7. You must have have outstanding loans on an exotic european cars, preferrably upside-down.

    8. Applicants with credit scores of 550 or below will only be accepted.

    9.  Loan priortization will be given first to those who have filed for bankruptcy in the past 90 days.

    10. Leveraged borrowers can consolidate all outstanding mortgages on multiple properties on a new "super-777-jumbo" loan at the same rate.

    10. BofA will assist you in finding a specialized-personalized dediciated taxpayer that will be designated to help you with your new affordable loan. Your dedicated taxpayer when ensure all balances are properly paid.

     

     

    April 1, 2008 at 4:15 PM #179397
    JWM in SD
    Participant

    “5. You must have qualified for the Federal Incentive Rebate. If you did not receive a rebate check, you are disqualified from this promotion.”

    Damn, kicked off the housing merry go round again!!

    I highly suspect that a lot of other Piggs wouldn’t qualify for this loan either as a result of number 5.

    April 1, 2008 at 4:15 PM #179856
    JWM in SD
    Participant

    “5. You must have qualified for the Federal Incentive Rebate. If you did not receive a rebate check, you are disqualified from this promotion.”

    Damn, kicked off the housing merry go round again!!

    I highly suspect that a lot of other Piggs wouldn’t qualify for this loan either as a result of number 5.

    April 1, 2008 at 4:15 PM #179764
    JWM in SD
    Participant

    “5. You must have qualified for the Federal Incentive Rebate. If you did not receive a rebate check, you are disqualified from this promotion.”

    Damn, kicked off the housing merry go round again!!

    I highly suspect that a lot of other Piggs wouldn’t qualify for this loan either as a result of number 5.

    April 1, 2008 at 4:15 PM #179768
    JWM in SD
    Participant

    “5. You must have qualified for the Federal Incentive Rebate. If you did not receive a rebate check, you are disqualified from this promotion.”

    Damn, kicked off the housing merry go round again!!

    I highly suspect that a lot of other Piggs wouldn’t qualify for this loan either as a result of number 5.

    April 1, 2008 at 4:15 PM #179780
    JWM in SD
    Participant

    “5. You must have qualified for the Federal Incentive Rebate. If you did not receive a rebate check, you are disqualified from this promotion.”

    Damn, kicked off the housing merry go round again!!

    I highly suspect that a lot of other Piggs wouldn’t qualify for this loan either as a result of number 5.

    April 1, 2008 at 4:37 PM #179412
    noone
    Participant

    Thanks for the heads up FLU, I found the application form on their website. I faxed mine in today (it’s only one page), and was approved in less than 30 minutes!

    April 1, 2008 at 4:37 PM #179871
    noone
    Participant

    Thanks for the heads up FLU, I found the application form on their website. I faxed mine in today (it’s only one page), and was approved in less than 30 minutes!

    April 1, 2008 at 4:37 PM #179779
    noone
    Participant

    Thanks for the heads up FLU, I found the application form on their website. I faxed mine in today (it’s only one page), and was approved in less than 30 minutes!

    April 1, 2008 at 4:37 PM #179783
    noone
    Participant

    Thanks for the heads up FLU, I found the application form on their website. I faxed mine in today (it’s only one page), and was approved in less than 30 minutes!

    April 1, 2008 at 4:37 PM #179795
    noone
    Participant

    Thanks for the heads up FLU, I found the application form on their website. I faxed mine in today (it’s only one page), and was approved in less than 30 minutes!

    April 1, 2008 at 4:42 PM #179800
    DWCAP
    Participant

    Obviously BofA’s bold new attempt to attract customers must mean that they have TONS of spare cash sitting around and have written off whatever bad or decaying assets they had from the Countrywide merger. BofA must be on the verge of a huge share price run up as the largest home lender in the country makes a massive move to gain market share. Today’s 300+ move was only the beginning of a new bull market and as such evidence that all the smart money is now getting back into financials in a big way. Any and all financial stocks especially newly inovative ones like netbank or ones heavely into real estate like WaMu are the best bets.

    In conclusion the current uptick in sales of houses is the beginning of the next bull market in all asset classes you can think of including beany babies, kindergarden paintings/artwork, and full tube 480p tv’s. SO BUY BUY BUY, and dont forget to stop by your local federal reserve bank office and get your free loan on all these asset classes so you can use 35X leverage and retire tomorrow.

    April 1, 2008 at 4:42 PM #179876
    DWCAP
    Participant

    Obviously BofA’s bold new attempt to attract customers must mean that they have TONS of spare cash sitting around and have written off whatever bad or decaying assets they had from the Countrywide merger. BofA must be on the verge of a huge share price run up as the largest home lender in the country makes a massive move to gain market share. Today’s 300+ move was only the beginning of a new bull market and as such evidence that all the smart money is now getting back into financials in a big way. Any and all financial stocks especially newly inovative ones like netbank or ones heavely into real estate like WaMu are the best bets.

    In conclusion the current uptick in sales of houses is the beginning of the next bull market in all asset classes you can think of including beany babies, kindergarden paintings/artwork, and full tube 480p tv’s. SO BUY BUY BUY, and dont forget to stop by your local federal reserve bank office and get your free loan on all these asset classes so you can use 35X leverage and retire tomorrow.

    April 1, 2008 at 4:42 PM #179785
    DWCAP
    Participant

    Obviously BofA’s bold new attempt to attract customers must mean that they have TONS of spare cash sitting around and have written off whatever bad or decaying assets they had from the Countrywide merger. BofA must be on the verge of a huge share price run up as the largest home lender in the country makes a massive move to gain market share. Today’s 300+ move was only the beginning of a new bull market and as such evidence that all the smart money is now getting back into financials in a big way. Any and all financial stocks especially newly inovative ones like netbank or ones heavely into real estate like WaMu are the best bets.

    In conclusion the current uptick in sales of houses is the beginning of the next bull market in all asset classes you can think of including beany babies, kindergarden paintings/artwork, and full tube 480p tv’s. SO BUY BUY BUY, and dont forget to stop by your local federal reserve bank office and get your free loan on all these asset classes so you can use 35X leverage and retire tomorrow.

    April 1, 2008 at 4:42 PM #179788
    DWCAP
    Participant

    Obviously BofA’s bold new attempt to attract customers must mean that they have TONS of spare cash sitting around and have written off whatever bad or decaying assets they had from the Countrywide merger. BofA must be on the verge of a huge share price run up as the largest home lender in the country makes a massive move to gain market share. Today’s 300+ move was only the beginning of a new bull market and as such evidence that all the smart money is now getting back into financials in a big way. Any and all financial stocks especially newly inovative ones like netbank or ones heavely into real estate like WaMu are the best bets.

    In conclusion the current uptick in sales of houses is the beginning of the next bull market in all asset classes you can think of including beany babies, kindergarden paintings/artwork, and full tube 480p tv’s. SO BUY BUY BUY, and dont forget to stop by your local federal reserve bank office and get your free loan on all these asset classes so you can use 35X leverage and retire tomorrow.

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