Great refinancing deal on BofA

[Coronita]

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.

 

 

[JWM in SD]

“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.

[noone]

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!

[noone]

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!

[noone]

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!

[noone]

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!

[noone]

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!

[JWM in SD]

“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.

[JWM in SD]

“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.

[JWM in SD]

“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.

[JWM in SD]

“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.

[DWCAP]

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.

[DWCAP]

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.

[DWCAP]

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.

[DWCAP]

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.

[DWCAP]

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.

[Arty]

Is it kind of late for…

[Sandi Egan]

First I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.

The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.

She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.

Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.

Too bad Jim the Realtor has sold his Mesa Norte listing already…

[Sandi Egan]

Forgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.

Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.

[Sandi Egan]

Forgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.

Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.

[Sandi Egan]

Forgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.

Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.

[Sandi Egan]

Forgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.

Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.

[Sandi Egan]

Forgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.

Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.

[Sandi Egan]

First I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.

The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.

She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.

Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.

Too bad Jim the Realtor has sold his Mesa Norte listing already…

[Sandi Egan]

First I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.

The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.

She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.

Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.

Too bad Jim the Realtor has sold his Mesa Norte listing already…

[Sandi Egan]

First I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.

The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.

She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.

Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.

Too bad Jim the Realtor has sold his Mesa Norte listing already…

[Sandi Egan]

First I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.

The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.

She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.

Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.

Too bad Jim the Realtor has sold his Mesa Norte listing already…

[Arty]

Is it kind of late for…

[Arty]

Is it kind of late for…

[Arty]

Is it kind of late for…

[Arty]

Is it kind of late for…

[Author]

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