Mortgage Rate Question
Bond yields have continued to fall this morning and we’re starting to reevaluate the rate we locked in a couple of months ago. Anyone know what a jumbo 30-year fixed is at this morning and who has the best rate in town right now?
Bond yields have continued to fall this morning and we’re starting to reevaluate the rate we locked in a couple of months ago. Anyone know what a jumbo 30-year fixed is at this morning and who has the best rate in town right now?
You can now refinance into an MTA program which offers 1.25% for the first 5 years (30 years amortization) for qualified applicants. It is definately an option to think about to save a lot of money on your mortgage on a monthly basis. You can contact me at 718-382-8200 or on my cell phone 917-488-2273 for more information. We also offer mortgages for clients with bad credit- call me to discuss. We have offices in Brooklyn, Queens, and Florida and are licensed in NY, CT, FL and MA. Ask for Eugene Gertskis.
Eugene Gertskis
Senior Loan Consultant
EGertskis@alphafundingny.com
Lender and Licensed Broker in NY, NJ, CT, MA, FL, GA, NC, MI, CO, PA
Loans are available for every credit type, from A+ through below average.
“NO DOC” Loans for better credit types.
Lower your current rate: We have programs with a 1% payment option if you qualify & the best 30Yr Fixed available.
Lower your monthly payments; Cash-Out for home-improvement, new investments, etc.
I will work to find you & your family, the most beneficial financial structure; I don’t earn a living unless I improve your situation, and BS is not a part of our company’s standards; what you see on a good faith estimate is what you’ll see at the closing table.
You stand to gain by taking a few moments to make an inquiry. I can be reached via email or telephone M-Fri 11a-8p. Please be prepared for a frank discussion of your current condition, and long-term goals, in order to set us both onto a successful arrangement.
Michael Pacheco
Loan Officer
Franklin First Financial LTD
(212)233-4007 ext.148
Michaelp@FranklinFirstFinancial.net
I think CRA refers to the Community Reinvestment Act, and PLG refers to Prospect Lefferts Garden, which is east of Brooklyn’s Prospect Park.
Anonymous at September 5, 2005 09:06 PM
what is CRA program and PLG?
Interesting thing to think about…according to my bro who is an attny, your primary mtge is protected under a lot of different types of situations very differently than a refi is. I guess we all assume nothing bad will ever happen, but after watching what went down in NO it makes me wonder.
I mentioned this in an old post on mortages.
I locked in at 4.75% rate for a 30 yr fixed in feb. with the Bank of New York. I think they went up to 5% in March. I’m sure if I had put more effort into it I could have gotten something lower (I can get OCDish when it comes to finding bargains). Its a CRA Program losts of paper work but worth the headache. Only criteria is that the house has to be in a county with low-moderate income households, PLG has a moderate income households so we qualified, my husband still thanks me for finding a lower rate than any person he knows.
anon @ 1:54.
It’s not just Bed-Stuy and it’s any home as long as it’s a primary residence. It’s what they call “target areas” I’m not sure what their criteria is, but it’s a simple phone call to find out. So far it’s been most of Brooklyn. It’s definitely worth the call. 80 bps below market, I think is a great deal. They also allow a 10 year stretch for .125 more. So that would be a 40 year Fixed @ 5.250%.. Still 75 bps below market.
HJC – if you make 800k profit and you are married, the first 500k is tax-fee (assuming primary residence, and no rental units). The rest you pay cap gains. If you rented out some portion, the picture is different. In my case, I would of been better off not renting out at all, because my taxes on the portion rented are almost as much as like 3 years of rent.
If you are looking at a big cap gains and you have tenants, think about kicking them out 2 years before you move out, you may save $$ as a result.
yes Katrina will keep a lid on rates but we are only 12 basis points away from the lowest rates seen in 2005…why would you not lock now…big payroll report at 8:30 tomorrow…the Treasury curve is too darn flat somethings got to give soon Hurricane or no Hurricane…note that with previous natural disasters things looked pretty grim on the basis of monthly data but then things start to rebound as reconstruction with insurance money starts (this could be different but should still be relatively short lived)…this rally is a gift to anyone who hasn’t locked yet…