April 20, 2012

Many of you have asked me how my son’s Fundraiser Gala went (that I was the Chair of), we raised NET $65,000! We made history for the little school of 170 students. I like breaking records! We are breaking records with our realtor referrals as well! Since the beginning of the year, our leads are up 50%, so that means the prospective buyers are OUT THERE! To help handle all our client calls, we added a new team member last week: Diana Smith! She takes the initial information from borrowers, and schedules an appointment with me so we can do the pre -approval on the spot! Our clients leave the office with a letter in hand! In the markets, the S&P ended higher at the close today, with positive corporate earnings in the news. There are rumors of rates increasing by the end of the summer, due to 3rd Quarter Quantitative Easing http://en.wikipedia.org/wiki/Quantitative_easing . For the time being, we are enjoying these rates! Appraisers, underwriters, and lenders in general are all pushing the limit on capacity. We are at 30 days closing (we were at 21), but trying furiously every day to get that down. We are still well below our industry average. Let us help you! Enjoy the weekend, rain and all. It’s a good time to clean out closets maybe? Or just enjoy the kiddos, doing nothing. RATES as of April 20, 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) 3.125% APR 3.343% 30 year ( fixed ) 4.250% APR 4.363% 30 year (fixed) 3.875% APR 4.000% 7/1 ARM 2.875% APR 3.222% 5/1 ARM 2.875% APR 3.257% 7/1 ARM 3.125% APR 3.325% 5/1 ARM 2.625% APR 3.183% 10/1 ARM 3.625% APR 3.608% FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.051% 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, Diana, 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.