Home › Forums › Financial Markets/Economics › HLS – market for Jumbo Rates?
- This topic has 30 replies, 3 voices, and was last updated 15 years, 11 months ago by
HLS.
-
AuthorPosts
-
January 24, 2009 at 10:20 AM #14904January 24, 2009 at 4:33 PM #335057
HLS
ParticipantSC,, not a loan that has low rates..Rates can be different depending on the state. There may be a local lender that is comfortable loaning on local property with lower rates.
You want a 5 7 or 10 ARM or 30 YR Fixed ?
What state is it in ?For a 30 YR Fixed in CA
With 25% down, credit score of 720+ my cost of money for a $900K max loan is 6.65% 30 YR fixed.
10 YR ARM 5.625%
or 5.375% for a 7 YR ARM loan max $850KWith only 20% down, credit score above 700, I don’t think that I have a 30 YR fixed. With a loan amount up to $1M, 10 YR ARM is over 9.00%
These are not my specialty that I often quote.
Different states have different rates.
Qualifying is full doc only.
Impound for taxes & insurance may be required.January 24, 2009 at 4:33 PM #335580ParticipantSC,, not a loan that has low rates..Rates can be different depending on the state. There may be a local lender that is comfortable loaning on local property with lower rates.
You want a 5 7 or 10 ARM or 30 YR Fixed ?
What state is it in ?For a 30 YR Fixed in CA
With 25% down, credit score of 720+ my cost of money for a $900K max loan is 6.65% 30 YR fixed.
10 YR ARM 5.625%
or 5.375% for a 7 YR ARM loan max $850KWith only 20% down, credit score above 700, I don’t think that I have a 30 YR fixed. With a loan amount up to $1M, 10 YR ARM is over 9.00%
These are not my specialty that I often quote.
Different states have different rates.
Qualifying is full doc only.
Impound for taxes & insurance may be required.January 24, 2009 at 4:33 PM #335496ParticipantSC,, not a loan that has low rates..Rates can be different depending on the state. There may be a local lender that is comfortable loaning on local property with lower rates.
You want a 5 7 or 10 ARM or 30 YR Fixed ?
What state is it in ?For a 30 YR Fixed in CA
With 25% down, credit score of 720+ my cost of money for a $900K max loan is 6.65% 30 YR fixed.
10 YR ARM 5.625%
or 5.375% for a 7 YR ARM loan max $850KWith only 20% down, credit score above 700, I don’t think that I have a 30 YR fixed. With a loan amount up to $1M, 10 YR ARM is over 9.00%
These are not my specialty that I often quote.
Different states have different rates.
Qualifying is full doc only.
Impound for taxes & insurance may be required.January 24, 2009 at 4:33 PM #335384ParticipantSC,, not a loan that has low rates..Rates can be different depending on the state. There may be a local lender that is comfortable loaning on local property with lower rates.
You want a 5 7 or 10 ARM or 30 YR Fixed ?
What state is it in ?For a 30 YR Fixed in CA
With 25% down, credit score of 720+ my cost of money for a $900K max loan is 6.65% 30 YR fixed.
10 YR ARM 5.625%
or 5.375% for a 7 YR ARM loan max $850KWith only 20% down, credit score above 700, I don’t think that I have a 30 YR fixed. With a loan amount up to $1M, 10 YR ARM is over 9.00%
These are not my specialty that I often quote.
Different states have different rates.
Qualifying is full doc only.
Impound for taxes & insurance may be required.January 24, 2009 at 4:33 PM #335468ParticipantSC,, not a loan that has low rates..Rates can be different depending on the state. There may be a local lender that is comfortable loaning on local property with lower rates.
You want a 5 7 or 10 ARM or 30 YR Fixed ?
What state is it in ?For a 30 YR Fixed in CA
With 25% down, credit score of 720+ my cost of money for a $900K max loan is 6.65% 30 YR fixed.
10 YR ARM 5.625%
or 5.375% for a 7 YR ARM loan max $850KWith only 20% down, credit score above 700, I don’t think that I have a 30 YR fixed. With a loan amount up to $1M, 10 YR ARM is over 9.00%
These are not my specialty that I often quote.
Different states have different rates.
Qualifying is full doc only.
Impound for taxes & insurance may be required.January 24, 2009 at 6:38 PM #335553sc_alum
ParticipantOy – good to know. State is Virginia – we’re moving out there shortly, intention is to rent for a while, but I also want to know what our options are as we start scoping out the local real estate.
The goal would certainly be a 30yr fixed, but that’s a pretty big gap between a 30 and 10yr arm when the numbers are that big. Regardless we’ll start targeting 25/30%, given your notes.
Do you generally only work in California, or do you ever do out of state loans?
January 24, 2009 at 6:38 PM #335666ParticipantOy – good to know. State is Virginia – we’re moving out there shortly, intention is to rent for a while, but I also want to know what our options are as we start scoping out the local real estate.
The goal would certainly be a 30yr fixed, but that’s a pretty big gap between a 30 and 10yr arm when the numbers are that big. Regardless we’ll start targeting 25/30%, given your notes.
Do you generally only work in California, or do you ever do out of state loans?
January 24, 2009 at 6:38 PM #335581ParticipantOy – good to know. State is Virginia – we’re moving out there shortly, intention is to rent for a while, but I also want to know what our options are as we start scoping out the local real estate.
The goal would certainly be a 30yr fixed, but that’s a pretty big gap between a 30 and 10yr arm when the numbers are that big. Regardless we’ll start targeting 25/30%, given your notes.
Do you generally only work in California, or do you ever do out of state loans?
January 24, 2009 at 6:38 PM #335467ParticipantOy – good to know. State is Virginia – we’re moving out there shortly, intention is to rent for a while, but I also want to know what our options are as we start scoping out the local real estate.
The goal would certainly be a 30yr fixed, but that’s a pretty big gap between a 30 and 10yr arm when the numbers are that big. Regardless we’ll start targeting 25/30%, given your notes.
Do you generally only work in California, or do you ever do out of state loans?
January 24, 2009 at 6:38 PM #335143ParticipantOy – good to know. State is Virginia – we’re moving out there shortly, intention is to rent for a while, but I also want to know what our options are as we start scoping out the local real estate.
The goal would certainly be a 30yr fixed, but that’s a pretty big gap between a 30 and 10yr arm when the numbers are that big. Regardless we’ll start targeting 25/30%, given your notes.
Do you generally only work in California, or do you ever do out of state loans?
January 24, 2009 at 7:50 PM #335507ParticipantSC, I only originate CA loans.
You have different options for VA.I do offer out of state consulting for $500 flat fee for a loan over $500K
Specific for VA, based on 01/23/09 rates:
One Loan:
720+ credit score. 30 YR fixed. SFR.
70% 6.60%
75% 6.65%
80% 6.70%
85% 6.90%
90% 7.05%Max loan amount $900K to 80%
Max loan amount $800K above 80%
NO mortgage insurance above 80%
***********************************
With a credit score of 700+ A better option for you could be a FNMA JUMBO $625K 30 YR 1st @ 4.875% and a 20 YR 2nd @ 8.65%
which would be a blended rate of 5.69% for $800K total, max 80%…
This could be available with 20% down.With a $375K 2nd, per your example, the blended rate would be 6.29% ($1M total)
For a cost of 1 point, you could buy the 1st down to 4.50% 30 YR Fixed
Max 1st $ amount depends on county. Arlington area looks OK up to $625K (need to confirm)
Above rates would be my cost if I were able to originate loans in VA. (No lender commission at these rates)
If you couldn’t find better rates, as your consultant, I could try and a find a broker that would offer the above rates for a reasonable fee.
A major change in income could make it difficult to qualify unless you are with same employer or similar line of work.
Terms/limits/guidelines subject to change.
Contact me privately for additional info if you wish. ..HLS
January 24, 2009 at 7:50 PM #335182ParticipantSC, I only originate CA loans.
You have different options for VA.I do offer out of state consulting for $500 flat fee for a loan over $500K
Specific for VA, based on 01/23/09 rates:
One Loan:
720+ credit score. 30 YR fixed. SFR.
70% 6.60%
75% 6.65%
80% 6.70%
85% 6.90%
90% 7.05%Max loan amount $900K to 80%
Max loan amount $800K above 80%
NO mortgage insurance above 80%
***********************************
With a credit score of 700+ A better option for you could be a FNMA JUMBO $625K 30 YR 1st @ 4.875% and a 20 YR 2nd @ 8.65%
which would be a blended rate of 5.69% for $800K total, max 80%…
This could be available with 20% down.With a $375K 2nd, per your example, the blended rate would be 6.29% ($1M total)
For a cost of 1 point, you could buy the 1st down to 4.50% 30 YR Fixed
Max 1st $ amount depends on county. Arlington area looks OK up to $625K (need to confirm)
Above rates would be my cost if I were able to originate loans in VA. (No lender commission at these rates)
If you couldn’t find better rates, as your consultant, I could try and a find a broker that would offer the above rates for a reasonable fee.
A major change in income could make it difficult to qualify unless you are with same employer or similar line of work.
Terms/limits/guidelines subject to change.
Contact me privately for additional info if you wish. ..HLS
January 24, 2009 at 7:50 PM #335593ParticipantSC, I only originate CA loans.
You have different options for VA.I do offer out of state consulting for $500 flat fee for a loan over $500K
Specific for VA, based on 01/23/09 rates:
One Loan:
720+ credit score. 30 YR fixed. SFR.
70% 6.60%
75% 6.65%
80% 6.70%
85% 6.90%
90% 7.05%Max loan amount $900K to 80%
Max loan amount $800K above 80%
NO mortgage insurance above 80%
***********************************
With a credit score of 700+ A better option for you could be a FNMA JUMBO $625K 30 YR 1st @ 4.875% and a 20 YR 2nd @ 8.65%
which would be a blended rate of 5.69% for $800K total, max 80%…
This could be available with 20% down.With a $375K 2nd, per your example, the blended rate would be 6.29% ($1M total)
For a cost of 1 point, you could buy the 1st down to 4.50% 30 YR Fixed
Max 1st $ amount depends on county. Arlington area looks OK up to $625K (need to confirm)
Above rates would be my cost if I were able to originate loans in VA. (No lender commission at these rates)
If you couldn’t find better rates, as your consultant, I could try and a find a broker that would offer the above rates for a reasonable fee.
A major change in income could make it difficult to qualify unless you are with same employer or similar line of work.
Terms/limits/guidelines subject to change.
Contact me privately for additional info if you wish. ..HLS
January 24, 2009 at 7:50 PM #335620ParticipantSC, I only originate CA loans.
You have different options for VA.I do offer out of state consulting for $500 flat fee for a loan over $500K
Specific for VA, based on 01/23/09 rates:
One Loan:
720+ credit score. 30 YR fixed. SFR.
70% 6.60%
75% 6.65%
80% 6.70%
85% 6.90%
90% 7.05%Max loan amount $900K to 80%
Max loan amount $800K above 80%
NO mortgage insurance above 80%
***********************************
With a credit score of 700+ A better option for you could be a FNMA JUMBO $625K 30 YR 1st @ 4.875% and a 20 YR 2nd @ 8.65%
which would be a blended rate of 5.69% for $800K total, max 80%…
This could be available with 20% down.With a $375K 2nd, per your example, the blended rate would be 6.29% ($1M total)
For a cost of 1 point, you could buy the 1st down to 4.50% 30 YR Fixed
Max 1st $ amount depends on county. Arlington area looks OK up to $625K (need to confirm)
Above rates would be my cost if I were able to originate loans in VA. (No lender commission at these rates)
If you couldn’t find better rates, as your consultant, I could try and a find a broker that would offer the above rates for a reasonable fee.
A major change in income could make it difficult to qualify unless you are with same employer or similar line of work.
Terms/limits/guidelines subject to change.
Contact me privately for additional info if you wish. ..HLS
-
AuthorPosts
- You must be logged in to reply to this topic.