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Stated Income Programs
Don't need to verify income
Faster approval
Higher rates
Higher down payment
No point, No fee Programs
No closing costs ...
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Mortgage and Lending |
RAINER 1,841 |
| Maricela Rios | ||
| location_on Encino, CA — All Pro Real Estate & Mortgage Inc. | ||
| insert_link http://www.818home.com | ||
| web Maricela Rios's (allpromortgage) Blog | ||
Get to Know Maricela Rios
ALL PRO REAL ESTATE & MORTGAGE INC. Get the best mortgage loan for you when you decide to buy a home or refinance a mortgage, and we understand it's a big step. You can trust All Pro Real Estate & Mortgage Inc., to find the loan program that's best for you. We will consider all the factors and let you know what choices you have. We will shop all of our lenders for the best rate, price and cost. We work for you. Buying a new home is a source of anxiety, frustration -- and best of all a huge sense of accomplishment. You picked a house that's right for you! Trust our professionals to find the mortgage loan that best fits your needs. "Less paperwork and more personal attention" means you enter a frustration-free zone from application to decision. Getting the right mortgage loan is like getting the keys to your new house! We can help you get there. We at All Pro Real Estate & Mortgage Inc., want to help you make your newly found house into a home sweet home.Refinancing your current mortgage has never been easier. If you thought refinancing meant getting buried under mountains of paperwork, think again! We make it easy, and worry-free. Maybe your lifestyle has changed. We can help you make adjustments to your loan that better fits your needs now. Let our professionals guide you to the very best loan product. All Pro Real Estate & Mortgage Inc., will work for your best interest. It's not just a promise - it's a fact, and our true commitment to you and your refinancing needs! Call Right Now - Our Staff Is Standing-By!(818)788-2000
Loan Programs - Advantage - Disadvantages
Fixed Rate Mortgages
30 year fixed15 year fixed
Monthly payments are fixed over the life of the loan
Interest rate does not change
Protected if rates go up ...
Which Loan is Right for Me?
Years you plan to stay in the house
Recommended program
1-3
3/1 ARM, 1 year ARM or 6 month ARM
3-5
5/1 ARM
5-7
7/1 ARM
7-10
10/1 ARM, 30 year fixed or ...
Learn about Mortgages
There are many variations of these mortgage loan programs and numerous loan options that we offer. We will be happy to fully explain all of your loan options.F ...
Certifications
Facts about the 5 yr fixed pick a pay:
1) The note rate is fixed for 5 yrs, just like a standard 5/25
2) The note rate is comparable to what is normally the
margin + index (on a traditional option arm); but the
note is usually lower and has no adjustments
3) The borrower can pay the note rate Interest Only,
30 or 15 yr PI
4) The deferred payment, i.e. start rate is calculated interest
only and is usually comparable to the same payment
at 1.00% - 1.75% PI
5) The deferred payment is fixed for 5 yrs or 115% which
is about the 55th month
6) The 5 yr fixed pick a pay allows for 100% financing
vs. 90% on a traditional option arm
7) Borrowers that will take this program are those who
a) Want out of a moving index option arm, and/or
b) Cannot afford going rates starting at 6.50%
c) Need over 90% financing
Just like a standard 5 yr fixed – but
with 4 payment options!!!
Example: 500K, 80/20, SIVA, SFR, Owner Occ – 681 mid-Fico
5 YR FIXED NOTE RATE: 6.875%@par (comparable to a
traditional 5/25) = $2291 Interest Only
DEFERRED INTEREST RATE: 3.875% = $1291 per month
(FYI – 1.00% PI = $1286)
The borrower is deferring a FIXED $1000 per month
($2291 minus $1291) âÃÂú 12K per year
ÃÂâÃÂÃÂÃÂàIn a slow California market researchers estimate that
homes appreciate 5.00%-7.00% per year
â 500K x 7.00% = 35K…..minus 12K deferred interest
âÃÂú Equals 23K Gross appreciation
âÃÂú Equals 13K Gross appreciation (@ 5.00%)
AND the borrower only paid $1291 per month for $400K
WHY WOULDN’T A BORROWER
TAKE THIS PRODUCT???
The 2ND MORTGAGE IS A FIXED 30/30 STARTING AT 11.99%
(100 CLTV) Based on 100K the payment is only $1027/mo.
Mortgages these days are NOT about rates
….they’re about payments, comfort regarding mortgage stability,
and overall investment outcome. This program offers all of these
necessities and more!!!
10-14 DAYS TURN-AROUND ON MOST “REFI” LOANS!!!
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Refinancing your current mortgage has never been easier. If you thought refinancing meant getting buried under mountains of paperwork, think again! We make it easy, and worry-free!! Call me right now!