Real Loans As Of 11:40 AM July 10th 2006

| | Comments (1)

Here is this weeks first examples of real loans that can be done. These can really be done here in San Diego, California, as of the time I post them. Being A paper, these are rates that will vary at a minimum every business day, and potentially several times per day, but should not usually be too divergent within a few days. Exact closing cost will vary with the precise lender, which (for tolerably obvious reasons) I am not posting here. Requirements to lock also vary with the lender, but if you can meet them, I can (or could, at the time I posted) lock it, and once locked, deliver within thirty days.



These rates are retail rates, net to the consumer, based upon a loan amount of $400,000, at a loan to value ratio of 80%. If your balance is higher or lower, this would be reflected in your payment. These rates do assume full documentation loan and a credit score of 720, which is approximately the national average. This is a no cash out rate term refinance on an owner occupied single family residence. "Cash out" rates will usually be higher, purchase loans will vary by comparison. This includes a 30 day lock, and it is subject to underwriting constraints. You know, the usual stuff: On approved credit, this is not a credit decision or a commitment to lend, not all borrowers will qualify, some restrictions apply.



It is important to note that there are no prepayment penalties on any of these; rates with prepayment penalties will usually be somewhat lower than those without.







Years Fixed

30

30

30

5

5

3

3

3
Amortization (years)

30

30

30

30

30

30

30

30
Rate

6.375

6.625

6.875

6.25

6.625

5.75

6.25

6.75
Total Points

2

1

0

1

0

2

1

0
Payment

$2495.48

$2561.24

$2627.72

$2462.87

$2561.24

$2334.29

$2462.87

$2594.39
APR

6.597

6.752

6.893

6.387

6.669

5.952

6.375

6.795




Years fixed is how long the rate is fixed for.

Amortization is how long, in years, the loan is paid off over. None of the above loans are interest only.

Rate is the interest rate at the start of the loan, fixed for the number of years indicated on that line in the first column.

Total points is the total number of points a consumer would have to pay for that rate. These are neither the highest nor the lowest possible rates, only the lowest rate at which I can do that loan type for that cost at that time.

Payment is the monthly payment at the start of the loan, through the fixed period.

APR is required because I'm giving you a quote on a real loan. You might want to read this article before you take it for more than it is worth.





Call me. EZ Home Loans at 619-449-0070, ask for Dan.



NOTE: A couple of my best lenders missed their price updates this morning. I may be able to do better than this, and I'll try to get another update later in the week.

Delicious Bookmark this on Delicious StumbleUpon Toolbar Stumble It!

1 Comments

Norb said:

Hello Dan,



I have a quick question about line 1202 of the GFE - city/state tax/stamps. One lender is telling me that no where in the west coast should there be a value there; another lender put $490 on that line. Who's telling the truth? The new property I'm buying is in San Jacinto, CA.



Thanks for your time.



Norb



DM: The guy who told you that there shouldn't be any on the west coast is closer to the truth. I know of some municipalities that have them, but in California as a rule they are not charged, and as far as I know San Jacinto (Riverside County) isn't one of the municipalities that charges them.

Please be civil. Avoid profanity - I will delete the vast majority of it, usually by deleting the entire comment. To avoid comment spam, a comments account is required. They are freely available, and you can post comments immediately. Alternatively, you may use your Type Key registration, or sign up for one (They work at most Movable Type sites). All comments made are licensed to the site, but the fact that a comment has been allowed to remain should not be taken as an endorsement from me or the site. There is no point in attempting to foster discussion if only my own viewpoint is to be permitted. If you believe you see something damaging to you or some third party, I will most likely delete it upon request.
Logical failures (straw man, ad hominem, red herring, etcetera) will be pointed out - and I hope you'll point out any such errors I make as well. If there's something you don't understand, ask.
Nonetheless, the idea of comments should be constructive. Aim them at the issue, not the individual. Consider it a challenge to make your criticism constructive. Try to be respectful. Those who make a habit of trollish behavior will be banned.

Leave a comment

Copyright 2005-2017 Dan Melson. All Rights Reserved

 



Buy My Science Fiction Novels!
Dan Melson Author Page

The Man From Empire
Man From Empire Cover

A Guardian From Earth
Guardian From Earth Cover

Empire and Earth
Empire and Earth Cover

Working The Trenches
Working The Trenches Cover

Preparing The Ground
Preparing The Ground Cover

Building the People
Building the People Cover

The Book on Mortgages Everyone Should Have!
What Consumers Need To Know About Mortgages
What Consumers Need To Know About Mortgages Cover

The Book on Buying Real Estate Everyone Should Have
What Consumers Need To Know About Buying Real Estate
What Consumers Need To Know About Buying Real Estate Cover

Dan Melson's San Diego Real Estate and Mortgage Website

↑ Grab this Headline Animator

About this Entry

This page contains a single entry by Dan Melson published on July 10, 2006 2:57 PM.

Potential Bargain Property July 8th 2006 was the previous entry in this blog.

Potential Bargain Home July 10th, 2006 is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.



What I Do

Read My Promise To All My Clients

My Office Contact Information

There are no better agents in San Diego County!

There are no better loan officers in California!

Ask for your free consultation today!

**********
Favorite Loans Available Now

My Listings

Hot Properties!
Email me! danmelson(at)danmelson(dot)com
**********
I want your business!
Unhappy with your loan?
Can't afford your payments?
I can help!
---
Want to buy smart?
Want to sell smart?
I can do it!
---
Bankruptcy?
Foreclosure?
In Default?
Let Me Help!
---
Want to buy properties in distress?
(defaults, foreclosures and REOs)
Ask Me How!
---
Bad Credit?
No Down Payment?
Ask Me What I Can Do!
---
1031 Exchanges
Forward, Reverse, or Partial
I Get It Done!
---
Should I Buy Now?
Should I Sell Now?
Would It Help Me to Refinance?
I'll tell you if the answer is "No"
I'll help you if the answer is "Yes"
---
Contact me:
My Office

Want San Diego MLS?

Here's my office's link to San Diego MLS

Enter your email address:

Delivered by FeedBurner

Subscribe with Bloglines Add to Technorati Favorites

Not in San Diego?

My other site is here
Powered by Movable Type 4.21-en