Today is an EXTREMELY important day. I was born 41 years ago at 6:30 a.m. My Dad says I was incredibly cute (that’s what Dads are supposed to say!). Hold the birthday wishes…I know you are thinking them!
Let’s talk about rates. They are creeping up a tad. Consumer confidence is up. The stock market is almost at 13,000, home sales are up….the list seems to go on. Rates are still in the low 4’s for a 30 fixed...who can complain about that?
The local Houston market, well, the articles this week all said that inventory is down. That means multiple contracts (and we have already seen them). Buyers that are waiting to offer may be left behind. Be sure they get to the lender EARLY to pre approve. We give them a letter the minute they bring in paperwork and have an interview with me!
Enjoy the weekend! Thank you for your trusted endorsements, and keep them coming.
RATES as of February 24, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.625% APR 3.821%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 4.000% APR 4.125%
7/1 ARM 2.875% APR 3.231% 5/1 ARM 2.875% APR 3.268%
7/1 ARM 3.000% APR 3.276%
5/1 ARM 2.750% APR 3.237% 10/1 ARM 3.750% APR 3.693%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
To opt out hit Reply and put Unsubscribe in the subject.
Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.
Monday, February 27, 2012
Tuesday, February 21, 2012
Friday, February 17, 2012
My dear friends, so sorry to disappoint, but this week’s newsletter will be short and sweet.
Rates are below, and don’t forget to RSVP for our Snack and Learn, Wed, February 22 (if you haven’t already).
Topic: “Till Death Do Us Part”: Being informed of issues that can arise when your buyer/seller is divorcing.
Where: 520 Post Oak Blvd, Ste. 100 (First American Title Conference Center)
Time: 1:00 – 2:30
Stay dry this weekend!
RATES as of February 17, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.199% 5/1 ARM 2.875% APR 3.229%
7/1 ARM 3.000% APR 3.243%
5/1 ARM 2.750% APR 3.198% 10/1 ARM 3.750% APR 3.669%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 2.965%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
To opt out hit Reply and put Unsubscribe in the subject.
Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and p
Rates are below, and don’t forget to RSVP for our Snack and Learn, Wed, February 22 (if you haven’t already).
Topic: “Till Death Do Us Part”: Being informed of issues that can arise when your buyer/seller is divorcing.
Where: 520 Post Oak Blvd, Ste. 100 (First American Title Conference Center)
Time: 1:00 – 2:30
Stay dry this weekend!
RATES as of February 17, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 2.875% APR 3.189% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.199% 5/1 ARM 2.875% APR 3.229%
7/1 ARM 3.000% APR 3.243%
5/1 ARM 2.750% APR 3.198% 10/1 ARM 3.750% APR 3.669%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 2.965%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
To opt out hit Reply and put Unsubscribe in the subject.
Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and p
Monday, February 13, 2012
Friday, February 10, 2012
In case you have been hanging on edge to hear about my solo trip with a toddler and 6 year old (from last weeks letter)….So the way there, it was a breeze . The way back, let’s just say challenging may not be descriptive enough. Imagine getting a tired, screaming angel to sleep (finally) ½ way through a 4 hour flight, and 25 minutes later the other one has to ‘go’. So I had to wake up the baby, cram the 3 of us into the bathroom that by now every person on the plane had used, and while containing Pablo on one hip/arm…wiping the bottom of the other. In hindsight, I am laughing hysterically…but at the time I was ready for a tranquilizer.
Lending has similar challenges! We face them every day. My greatest challenge this week was explaining to a father wanting to cosign for his daughter that his 2 million dollars in the bank was not good enough, since he does not show the recurring monthly income to repay the loan. That was hard. I would rather have been on the plane with my kids.
The challenges of Greece, and the uncertainty looming whether the country can avoid a debt default, led investors to seek the safe haven of bonds, and mortgage backed securities once again. You will see that helped keep many rates unchanged or lower than last week . Recent reduction in Jobless Claims provides additional evidence the labor market is moving in the right direction.. which eventually could push rates up. But for now, the 30 day horizon looks relatively safe.
Lastly, I am sure you are wondering how the recent Obama plan to help homeowners refinance underwater mortgages or avoid foreclosure will play into the market. In my (personal) opinion it’s too early to tell. Past experience has told me that although it sounds ‘sexy’ in theory, the implementation will be another story. The details will unfold and you will be the first to know.
Enjoy another beautiful weekend!
RATES as of February 10, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 2.875% APR 3.250% 5/1 ARM 2.750% APR 3.246%
7/1 ARM 2.875% APR 3.236%
5/1 ARM 2.750% APR 3.260% 10/1 ARM 3.625% APR 3.628%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
Lending has similar challenges! We face them every day. My greatest challenge this week was explaining to a father wanting to cosign for his daughter that his 2 million dollars in the bank was not good enough, since he does not show the recurring monthly income to repay the loan. That was hard. I would rather have been on the plane with my kids.
The challenges of Greece, and the uncertainty looming whether the country can avoid a debt default, led investors to seek the safe haven of bonds, and mortgage backed securities once again. You will see that helped keep many rates unchanged or lower than last week . Recent reduction in Jobless Claims provides additional evidence the labor market is moving in the right direction.. which eventually could push rates up. But for now, the 30 day horizon looks relatively safe.
Lastly, I am sure you are wondering how the recent Obama plan to help homeowners refinance underwater mortgages or avoid foreclosure will play into the market. In my (personal) opinion it’s too early to tell. Past experience has told me that although it sounds ‘sexy’ in theory, the implementation will be another story. The details will unfold and you will be the first to know.
Enjoy another beautiful weekend!
RATES as of February 10, 2012 (UNCHANGED for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.750% APR 3.946%
15 year (fixed) 3.125% APR 3.343% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.750% APR 3.874%
7/1 ARM 2.875% APR 3.250% 5/1 ARM 2.750% APR 3.246%
7/1 ARM 2.875% APR 3.236%
5/1 ARM 2.750% APR 3.260% 10/1 ARM 3.625% APR 3.628%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
Friday, February 3, 2012
Friday, February 3
I have been visualizing for WEEKS how I will handle my 2 kids solo on the airplane this weekend. You see, Diego, 6, is not the issue, he will just play his DS Plants vs. Zombies the entire trip to see Grandma in NJ. It’s the 18 month old, Pablo, that I am worried about. Not only have I bought him his own seat, but should I dare purchase one of those harnesses I see parents put their kids on? Although tempting, I won’t go that far, but this kid is beyond busy. He climbs on tables and furniture for a living. I am loading up on snacks, his favorite DVD’s, and praying he will just take a nap the entire way. Maybe some Benadryl…………………….
Facebook’s IPO is certainly consuming the markets. It’s much more interesting than the Fed Chairman’s talk about monetary easing, low fed funds rates until 2014, and certainly Greece. Who knows where rates will go, that is my answer. Enjoy it now, and yes, your clients should be buying now. Rates are truly lower than ever!!!!!!!
Compliance continues to be a big buzz word for lenders. So this will push up fees to the consumer, slowly but surely, as well as continued tightening of guidelines. Our investors we sell to are consistently hammering us on appraisals, paperwork, and outside the box scenarios. What this translates to is our underwriters, processors, and loan officers have to be thorough and accurate at all times with the client! Be rest assured that our loan team is always training, and perfecting our internal processes so that the transaction remains seamless to the client.
Speaking of team, I would like to commend mine! Brianna and Kenny are my 2 loan partner assistants, which equates to my right and left hand. Brianna takes all incoming lead calls, and helps me pre qualify clients in under an hour! Kenny is ‘contract to close’. He makes sure clients get the lowest rate once under contract, and that we meet deadlines! Nancy helps me with all my scheduling, email, calendar, and basically keeping me on track. They do an excellent job of creating raving fans of our clients, so that they refer us to our friends! And that translates to more referrals for you, the referring agent! We received 5 current client referrals this month, so 5 of our realtors had repeat business due to a positive transaction. I am currently looking to add another loan assistant, so if you know anyone with minimal mortgage experience, please have them contact me.
To find out more about how we can help you sell more houses….call me!
Have a great weekend…and GO GIANTS! (My parents are from Jersey)!
RATES as of February 3, 2012 (DOWN for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.625% APR 3.821%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.243% 5/1 ARM 2.750% APR 3.238%
7/1 ARM 2.875% APR 3.229%
5/1 ARM 2.625% APR 3.208% 10/1 ARM 3.625% APR 3.623%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
To opt out hit Reply and put Unsubscribe in the subject.
Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.
Facebook’s IPO is certainly consuming the markets. It’s much more interesting than the Fed Chairman’s talk about monetary easing, low fed funds rates until 2014, and certainly Greece. Who knows where rates will go, that is my answer. Enjoy it now, and yes, your clients should be buying now. Rates are truly lower than ever!!!!!!!
Compliance continues to be a big buzz word for lenders. So this will push up fees to the consumer, slowly but surely, as well as continued tightening of guidelines. Our investors we sell to are consistently hammering us on appraisals, paperwork, and outside the box scenarios. What this translates to is our underwriters, processors, and loan officers have to be thorough and accurate at all times with the client! Be rest assured that our loan team is always training, and perfecting our internal processes so that the transaction remains seamless to the client.
Speaking of team, I would like to commend mine! Brianna and Kenny are my 2 loan partner assistants, which equates to my right and left hand. Brianna takes all incoming lead calls, and helps me pre qualify clients in under an hour! Kenny is ‘contract to close’. He makes sure clients get the lowest rate once under contract, and that we meet deadlines! Nancy helps me with all my scheduling, email, calendar, and basically keeping me on track. They do an excellent job of creating raving fans of our clients, so that they refer us to our friends! And that translates to more referrals for you, the referring agent! We received 5 current client referrals this month, so 5 of our realtors had repeat business due to a positive transaction. I am currently looking to add another loan assistant, so if you know anyone with minimal mortgage experience, please have them contact me.
To find out more about how we can help you sell more houses….call me!
Have a great weekend…and GO GIANTS! (My parents are from Jersey)!
RATES as of February 3, 2012 (DOWN for the week)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets
Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.000% APR 3.315% 15 year ( fixed ) 3.625% APR 3.821%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 3.875% APR 4.000%
7/1 ARM 2.875% APR 3.243% 5/1 ARM 2.750% APR 3.238%
7/1 ARM 2.875% APR 3.229%
5/1 ARM 2.625% APR 3.208% 10/1 ARM 3.625% APR 3.623%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%
We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!
If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!
Jennifer Hernandez & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
To opt out hit Reply and put Unsubscribe in the subject.
Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.
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