April 8, 2011

Do you ever have moments where the world seems like its crashing in? Working mommy, loving wife, school board of directors, HOA treasurer, manager of 10, loan officer extraordinaire, counting 1500 calories a day, working out 5-6 times a week.....man it loads on! So I was having a pity party until......my bimonthly coaching call yesterday. Rick reminded me that when I am down, I need to look at my list of 200 things I am grateful for (like I had one....but that was homework). It’s true. I am so grateful for so many things, I just have to remind myself.

So why can't the government do that and have a balanced budget? For real estate, this would affect the closing of FHA and VA loans. Patriot Bank Mortgage has made a company decision to keep funding these loans. The only thing we still have to work out is not being able to receive IRS audited tax returns on all our clients (a mandate on loans from Fannie, Freddie and FHA). We will find a solution I am sure. But the bigger question is .....how can this really happen for an extended period of time? It can't. Something or someone will come in and save the day last minute, or at least soon after, to put all in its place. It’s the American way.

As for rates, the markets seemed flat this week after all the dust settled. Charlie Sheen is tweetering for cash, and the Middle East is still in turmoil.

Check out our Jumbo rates below! We have a 5/5 ARM (fixed for 5 years and then adjusts every 5 years) that only requires 25% down up to 4 million! Buyers can keep their cash in the market and put a minimum amount into the house at a rate below 4.0%! Now that is like free money.

Have a great weekend! Godspeed to my hubby Fernando who is competing in a triathlon in Galveston tomorrow!


RATES as of April 8, 2011 (UP 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) 3.750% APR 4.072% 15 year ( fixed ) 4.875% APR 5.079%
15 year (fixed) 4.250% APR 4.476% 30 year ( fixed ) 5.750% APR 5.874%
30 year (fixed) 5.000% APR 5.134%
7/1 ARM 4.000% APR 3.606% 5/1 ARM 3.875% APR 3.598%
7/1 ARM 4.375% APR 3.909%
10/1 ARM 4.750% APR 4.221%
5/5 ARM 3.750% APR 4.079%
FHA/VA call for quote (max loan $270,000)


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