There is a horrible rumor around that it takes 45-60 days to close a purchase loan. NOT WITH PATRIOT BANK it doesn’t! Our average close time is 24 days. Jumbo’s , its 30. We also update borrowers, and both realtors each Tuesday, we attend closing….should I go on? If we are not on your trusted referral list, let’s talk about changing that! We are your friends in real estate. We LOVE realtors and their clients, and our goal in every transaction is to create raving lifelong fans and repeat customers.
Rates ended lower this week, amid increased concerns about Europe. Investors flocked to bonds, pushing yields a bit lower.
That’s all for now…..its late on a Friday, and I have kids to snuggle with.
Enjoy this cool weather!
RATES as of November 4, 2011 (LOWER 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) 3.250% APR 3.593% 15 year ( fixed ) 3.750% APR 3.938%
15 year (fixed) 3.375% APR 3.592% 30 year ( fixed ) 4.500% APR 4.609%
30 year (fixed) 4.00% APR 4.124%
7/1 ARM 3.000% APR 3.233% 5/1 ARM 3.000% APR 3.238%
7/1 ARM 3.500% APR 3.447%
10/1 ARM 4.000% APR 3.803%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.375% APR 3.300%
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
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
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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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