So Friday night is movie night at my house, as well as sleep in mommy’s bed night for my 6 year old. He used to ask me all week if it was Friday yet! So last night, a Thursday, I was too tired to go upstairs, so offered a bonus night to Diego. He said ‘It’s ok Mommy, because I know tomorrow is movie night and I will sleep with you then’. When did this kid become so independent and not need as much snuggle? I have to say I was quite sad.
Clients need a lot more snuggling these days. It’s been a great change in the marketplace from internet lending (now only about 10% of mortgage applications), and good ole’ face to face contact. I have always believed that people would revert back to human contact. Don’t they want to know who they are doing business with?
So every human in America knows that rates are down this week. The Fed announced new measures to boost the economy. (1) They will begin to reinvest principal payments from its MBS (mortgage backed securities) into additional MBS (currently going into treasuries). (2) Operation Twist, as they call it, will extend the average maturity of the Fed’s portfolio by purchasing $400 billion of longer term Treasury securities and selling an equal amount of short term ones. (3) The Fed confirmed to the investors that there are ‘significant downside risks’ to the US economic outlook. Slower growth reduces inflationary pressures, which pushes down mortgage rates.
Interesting times ahead………if your clients want to purchase in the next 6 months, it may be a GREAT time to accelerate the moving process to take advantage of these rates. And by the end of the year, there are the property tax exemption benefits!
Enjoy the weekend, and as always, call us if you need us to pre approve a client!
RATES as of September 23, 2011 (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) 3.125% APR 3.467% 15 year ( fixed ) 3.625% APR 3.833%
15 year (fixed) 3.250% APR 3.487% 30 year ( fixed ) 4.375% APR 4.496%
30 year (fixed) 3.875% APR 4.010%
7/1 ARM 3.125% APR 3.238% 5/1 ARM 3.125% APR 3.381%
7/1 ARM 3.500% APR 3.532%
10/1 ARM 3.875% APR 3.6928%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.223%
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
Patriot Bank Mortgage
Office: 713-337-8401
E-mail: jhernandez@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.
Monday, September 26, 2011
Friday, September 9, 2011
September 9, 2011
Did you know that interest rates in Mexico are way into the double digits, like 30-40%, for homes and/or credit cards? So most people must pay cash, as borrowing is too punitive. Or that in many countries you can't even own your home- the government does. We take so many obvious liberties for granted. They are not freedoms for us anymore, they are expected. A way of life. This Sunday, September 11, let us remember and honor not only those that perished, but honor the living every day. The men and women who put themselves in harm’s way so that we may enjoy even the smallest freedoms.
I was quite impressed when I read the NAR magazine last month that Realtors have collectively donated 22 million dollars to relief efforts since 9/11. Hurricanes, tsunamis, and other major disasters, they have been there. You should be proud to be associated with such an active association. Get involved or stay involved, and keep contributing to your PAC. Because in years to come, you will need it. There is legislation on the rise in our industry from possible deletion of the mortgage tax deduction to the qualified residential mortgage that will affect realtors more than ever.
So changing the subject......Since April, the rates have come down almost .75%. On a $300,000 home, that is $90/month LOWER in monthly payment! Your buyers can qualify for more house than ever before! And while it seems that these low rates will be here forever, we need to be more realistic than that. In fact, one of the mortgage commentaries I subscribe to said this today; “with loan volume through the roof, and lenders barely able to handle current volumes, why would they offer better pricing?' That's a good point! In fact, from time to time we will see one of our investors have awesome pricing one day, only the next to shoot up, pricing themselves out of the market. It’s a basic strategy of curbing loan volume.
Current economic conditions look like, for the short term, rates should hold steady through the end of the year. Initial jobless claims were higher than expected, and Bernanke gave no warm fuzzies about the economy this week. He called the current situation dismal, offering no hope in sight. A total of 7 million people are collecting some type of unemployment. With news like this, bonds are sure to be popular for the near term as investors remain skittish about investing in the stock market.
That’s all I have, enjoy the weekend and this glorious weather.
RATES as of September 9, 2011 (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) 3.250% APR 3.593% 15 year ( fixed ) 3.875% APR 4.084%
15 year (fixed) 3.250% APR 3.487% 30 year ( fixed ) 4.500% APR 4.622%
30 year (fixed) 3.950% APR 4.086%
7/1 ARM 3.125% APR 3.223% 5/1 ARM 3.250% APR 3.408%
7/1 ARM 3.625% APR 3.577%
10/1 ARM 4.000% APR 3.761%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.223%
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
I was quite impressed when I read the NAR magazine last month that Realtors have collectively donated 22 million dollars to relief efforts since 9/11. Hurricanes, tsunamis, and other major disasters, they have been there. You should be proud to be associated with such an active association. Get involved or stay involved, and keep contributing to your PAC. Because in years to come, you will need it. There is legislation on the rise in our industry from possible deletion of the mortgage tax deduction to the qualified residential mortgage that will affect realtors more than ever.
So changing the subject......Since April, the rates have come down almost .75%. On a $300,000 home, that is $90/month LOWER in monthly payment! Your buyers can qualify for more house than ever before! And while it seems that these low rates will be here forever, we need to be more realistic than that. In fact, one of the mortgage commentaries I subscribe to said this today; “with loan volume through the roof, and lenders barely able to handle current volumes, why would they offer better pricing?' That's a good point! In fact, from time to time we will see one of our investors have awesome pricing one day, only the next to shoot up, pricing themselves out of the market. It’s a basic strategy of curbing loan volume.
Current economic conditions look like, for the short term, rates should hold steady through the end of the year. Initial jobless claims were higher than expected, and Bernanke gave no warm fuzzies about the economy this week. He called the current situation dismal, offering no hope in sight. A total of 7 million people are collecting some type of unemployment. With news like this, bonds are sure to be popular for the near term as investors remain skittish about investing in the stock market.
That’s all I have, enjoy the weekend and this glorious weather.
RATES as of September 9, 2011 (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) 3.250% APR 3.593% 15 year ( fixed ) 3.875% APR 4.084%
15 year (fixed) 3.250% APR 3.487% 30 year ( fixed ) 4.500% APR 4.622%
30 year (fixed) 3.950% APR 4.086%
7/1 ARM 3.125% APR 3.223% 5/1 ARM 3.250% APR 3.408%
7/1 ARM 3.625% APR 3.577%
10/1 ARM 4.000% APR 3.761%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.223%
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
Monday, August 29, 2011
August 26, 2011
My heart goes out to the families and businesses on the East Coast that are about to be pounded by Irene. CNN Money's headline was that many are not covered with flood insurance. We in Houston know all about that where hurricanes are concerned. The uncertainty of the storm, and pending damages, concerned investors today. Can we handle yet another financial disaster? The markets were rampant this week with news that cancelled out low rates. We had highs, lows and ended the week slightly higher.
Some of the biggest reports are:
• Second Quarter GDP was revised lower from 1.3% to 1.0% (bad for economic recovery)
• Jobless Claims fell to the lowest level since Sept 08 (ditto)
• Fed Chief Bernanke gave no hint of any change in policy (investors were disappointed, hoping for looser monetary conditions)
All in all, we are enjoying the lowest rates in our country's history! Borrowers can afford more house than ever before for the mere fact rates are so low. In fact, we had a past client today say that her 'coworker' was off to sign an application for a 2.0% refinance. I had to LAUGH....there is absolutely no way that is 30 or 15 year fixed. Caution your clients against scams or advertising that sounds too good to be true. We have 3 new clients this week we are saving from 'other lender' disasters. Unkept promises, etc. In fact, one we are closing in 5 days!!!!! So just remember, we are your trusted friends in real estate!
Enjoy the weekend!
RATES as of August 26, 2011 (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) 3.250% APR 3.593% 15 year ( fixed ) 4.125% APR 4.336%
15 year (fixed) 3.250% APR 3.487% 30 year ( fixed ) 4.750% APR 4.874%
30 year (fixed) 4.125% APR 4.262%
7/1 ARM 3.125% APR 3.213% 5/1 ARM 3.250% APR 3.395%
7/1 ARM 3.625% APR 3.566%
10/1 ARM 4.125% APR 3.833%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.223%
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
Patriot Bank Mortgage
Office: 713-337-8401
E-mail: jhernandez@patriotbankusa.com
Website: www.applywithpatriot.com
Monday, August 15, 2011
August 12, 2011
Yes, I survived the triathlon. Actually, I placed 829 out of 1300, which makes me rather proud for my first race. The run was brutal and I only stopped to drink a quick water. Had I stopped, I knew I may not get going again. So I endured. Sounds like our week at the office- we have not stopped. Rates are at an all time low. Buyers are executing contracts, others are refinancing. We are racing against time, as who knows if/when rates will go up? So we don’t stop.
This week was definitely one of the most ‘wild’ we have ever seen. Here’s what happened, and has kept rates low:
• Last Friday the S&P downgraded the US credit rating to AA (from AAA)
• European banks were at risk of failing, especially France, and this sent a scare to the markets
• Investors were then comforted by the STRONG demand of 3 and 5 year treasury notes. High demand means we are financing our debt, usually through foreign investment.
• Tuesday the FED announced they anticipate low fed funds for two more years, and that the economic growth will be ‘considerably lower’. Remember, the interest rates like bad news.
And this was all before Wednesday!
Enjoy the weekend. School starts for some next week….another race about to begin! Ready, set, GO!!!!!!!!!!!!!!!!!!!!!!!!!!!
RATES as of August 12, 2011 (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) 3.250% APR 3.593% 15 year ( fixed ) 3.875% APR 4.084%
15 year (fixed) 3.250% APR 3.487% 30 year ( fixed ) 4.625% APR 4.748%
30 year (fixed) 4.000% APR 4.136%
7/1 ARM 3.250% APR 3.256% 5/1 ARM 3.625% APR 3.510%
7/1 ARM 4.000% APR 3.731%
10/1 ARM 4.125% APR 3.822%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.470%
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
Patriot Bank Mortgage
Office: 713-337-8401
E-mail: jhernandez@patriotbankusa.com
Website: www.applywithpatriot.com
This week was definitely one of the most ‘wild’ we have ever seen. Here’s what happened, and has kept rates low:
• Last Friday the S&P downgraded the US credit rating to AA (from AAA)
• European banks were at risk of failing, especially France, and this sent a scare to the markets
• Investors were then comforted by the STRONG demand of 3 and 5 year treasury notes. High demand means we are financing our debt, usually through foreign investment.
• Tuesday the FED announced they anticipate low fed funds for two more years, and that the economic growth will be ‘considerably lower’. Remember, the interest rates like bad news.
And this was all before Wednesday!
Enjoy the weekend. School starts for some next week….another race about to begin! Ready, set, GO!!!!!!!!!!!!!!!!!!!!!!!!!!!
RATES as of August 12, 2011 (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) 3.250% APR 3.593% 15 year ( fixed ) 3.875% APR 4.084%
15 year (fixed) 3.250% APR 3.487% 30 year ( fixed ) 4.625% APR 4.748%
30 year (fixed) 4.000% APR 4.136%
7/1 ARM 3.250% APR 3.256% 5/1 ARM 3.625% APR 3.510%
7/1 ARM 4.000% APR 3.731%
10/1 ARM 4.125% APR 3.822%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.470%
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
Patriot Bank Mortgage
Office: 713-337-8401
E-mail: jhernandez@patriotbankusa.com
Website: www.applywithpatriot.com
Tuesday, July 26, 2011
July 25, 2011
So my 1 year old Pablo is extremely frustrated. His Daddy put kiddie locks on all the cabinets, including the pantry. He has nothing to open and throw around! My little angel is no different than some homebuyers, just smaller problems! People get frustrated when they don’t understand, so I believe that my job as a professional is to bridge that gap. We do that on our team by constantly revising checklists, doing weekly status update calls to buyers and realtors, and asking the question to buyers frequently in the process: are we meeting your expectations? We hit it head on! We want happy homeowners! My challenge for you this week is to fine tune your processes to make sure that your clients’ frustration is identified early on and handled with ease. It’s a fun process.
In the markets, there was lots of rumble with news of the US increasing their debt ceiling with aid to help troubled European countries. As the perceived risk of default in Europe decreased, investors then retreated from bonds, raising rates a bit, but was later neutralized by the debt ceiling talks. This left us flat for the week on rates.
Recent low yields (rates) for the Treasury market and mortgage backed securities leaves investors concluding that the debt ceiling will rise before August 2. Rates could rise if the ceiling is simply lifted, but not addressed on how to meaningfully control it. If Congress does a good job at coming up with solutions, this could in turn cause rates to fall further. This is because a smaller government deficit would mean a reduced supply of treasury securities, meaning lower yields. Furthermore, less government spending would slow economic growth, reducing inflationary pressures.
I will leave you with a hint of what we are seeing as typical, the new ‘norm’. Buyers are coming to us earlier to make application (yea!) and therefore we can tackle any issues early on. Wether its credit or extra documentation needed, we are thankful to have the time to hit issues head on, and early. WE see this happen to the most unsuspecting of borrowers. So keep encouraging your buyers and sellers to get pre approved early! It really works!
So this Sunday Morning, at 5:30 a.m, if you have nothing else to do , tune in to my interview with Kim Davis (KPRC 2 ‘Beyond The Headlines’.
Enjoy the weekend!
RATES as of July 22, 2011 (FLAT (conv) TO HIGHER (Jumbo) 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 ) 4.250% APR 4.462%
15 year (fixed) 3.750% APR 4.990% 30 year ( fixed ) 5.125% APR 5.251%
30 year (fixed) 4.500% APR 4.640%
7/1 ARM 3.500% APR 3.359% 5/1 ARM 3.375% APR 3.403%
7/1 ARM 4.000% APR 3.716%
10/1 ARM 4.250% APR 3.895%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.715%
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
Vice President/Mortgage Consultant
Patriot Bank Mortgage
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com
In the markets, there was lots of rumble with news of the US increasing their debt ceiling with aid to help troubled European countries. As the perceived risk of default in Europe decreased, investors then retreated from bonds, raising rates a bit, but was later neutralized by the debt ceiling talks. This left us flat for the week on rates.
Recent low yields (rates) for the Treasury market and mortgage backed securities leaves investors concluding that the debt ceiling will rise before August 2. Rates could rise if the ceiling is simply lifted, but not addressed on how to meaningfully control it. If Congress does a good job at coming up with solutions, this could in turn cause rates to fall further. This is because a smaller government deficit would mean a reduced supply of treasury securities, meaning lower yields. Furthermore, less government spending would slow economic growth, reducing inflationary pressures.
I will leave you with a hint of what we are seeing as typical, the new ‘norm’. Buyers are coming to us earlier to make application (yea!) and therefore we can tackle any issues early on. Wether its credit or extra documentation needed, we are thankful to have the time to hit issues head on, and early. WE see this happen to the most unsuspecting of borrowers. So keep encouraging your buyers and sellers to get pre approved early! It really works!
So this Sunday Morning, at 5:30 a.m, if you have nothing else to do , tune in to my interview with Kim Davis (KPRC 2 ‘Beyond The Headlines’.
Enjoy the weekend!
RATES as of July 22, 2011 (FLAT (conv) TO HIGHER (Jumbo) 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 ) 4.250% APR 4.462%
15 year (fixed) 3.750% APR 4.990% 30 year ( fixed ) 5.125% APR 5.251%
30 year (fixed) 4.500% APR 4.640%
7/1 ARM 3.500% APR 3.359% 5/1 ARM 3.375% APR 3.403%
7/1 ARM 4.000% APR 3.716%
10/1 ARM 4.250% APR 3.895%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.715%
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
Vice President/Mortgage Consultant
Patriot Bank Mortgage
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com
Tuesday, July 19, 2011
July 18, 2011
Uncertainty……about life, love, the weather, you name it! This one word has so much power it is unbelievable. That is what drove markets this week. Instability in Europe and Fed comments about a still staggering economy drove investors to safer investments (i.e. the bond market). That makes prices higher due to increased demand, and the yields (or rates) lower. Yea! All I know is we just locked an FHA borrower at 4.375%!!! I almost fell out of my chair. What great news for borrowers that are buying houses!
Today is my son Pablo’s first birthday, so I must dash….Elmo , Big Bird and Cookie Monster are awaiting me.
Enjoy your weekend!
RATES as of July 15, 2011 (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) 3.250% APR 3.593% 15 year ( fixed ) 4.125% APR 4.336%
15 year (fixed) 3.750% APR 4.990% 30 year ( fixed ) 5.000% APR 5.126%
30 year (fixed) 4.500% APR 4.640%
7/1 ARM 3.500% APR 3.359% 5/1 ARM 3.375% APR 3.403%
7/1 ARM 4.000% APR 3.716%
10/1 ARM 4.125% APR 3.812%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.715%
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
Vice President/Mortgage Consultant
Patriot Bank Mortgage
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com
Today is my son Pablo’s first birthday, so I must dash….Elmo , Big Bird and Cookie Monster are awaiting me.
Enjoy your weekend!
RATES as of July 15, 2011 (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) 3.250% APR 3.593% 15 year ( fixed ) 4.125% APR 4.336%
15 year (fixed) 3.750% APR 4.990% 30 year ( fixed ) 5.000% APR 5.126%
30 year (fixed) 4.500% APR 4.640%
7/1 ARM 3.500% APR 3.359% 5/1 ARM 3.375% APR 3.403%
7/1 ARM 4.000% APR 3.716%
10/1 ARM 4.125% APR 3.812%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.715%
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
Vice President/Mortgage Consultant
Patriot Bank Mortgage
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com
Wednesday, July 6, 2011
Friday, July 1
This week I had to write my sister’s obituary. My sweet Lori was 43, and was fighting cancer for 5 years. My comfort is to know she is resting now. So as I sat down to write this obituary…..what would I say? How could I express in a condensed manner the way in which she touched all of our lives? So that exercise led me to ponder my own mortality, and what would my obituary look like? That led to, of course, questioning how I am living my life.
The life lesson I would love to share with you this long holiday weekend is this: How do you want to be remembered? Are you conducting yourself personally and professionally in the manner in which want to? How do you treat others? How do they treat you? Do you surround yourself with those persons that reflect how you want to live your life? Are you spending enough time with your family?
No market news this week (but rates are listed below). I am not sure why they went up or down, they just happened! Know that we at Patriot remain your friend in real estate, and are a team you can count on to treat your clients with respect, courtesy, and the utmost professionalism. We look forward to earning your business if we have not already.
We wish you the most safe and joyous holiday weekend!
RATES as of July 1, 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) 3.375% APR 3.719% 15 year ( fixed ) 4.750% APR 4.922%
15 year (fixed) 3.875% APR 4.116% 30 year ( fixed ) 5.375% APR 5.503%
30 year (fixed) 4.750% APR 4.922%
7/1 ARM 3.875% APR 3.534% 5/1 ARM 3.750% APR 3.532%
7/1 ARM 4.250% APR 3.833%
10/1 ARM 4.875% APR 4.296%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.250% APR 3.582%
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
Vice President/Mortgage Consultant
Patriot Bank Mortgage
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com
The life lesson I would love to share with you this long holiday weekend is this: How do you want to be remembered? Are you conducting yourself personally and professionally in the manner in which want to? How do you treat others? How do they treat you? Do you surround yourself with those persons that reflect how you want to live your life? Are you spending enough time with your family?
No market news this week (but rates are listed below). I am not sure why they went up or down, they just happened! Know that we at Patriot remain your friend in real estate, and are a team you can count on to treat your clients with respect, courtesy, and the utmost professionalism. We look forward to earning your business if we have not already.
We wish you the most safe and joyous holiday weekend!
RATES as of July 1, 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) 3.375% APR 3.719% 15 year ( fixed ) 4.750% APR 4.922%
15 year (fixed) 3.875% APR 4.116% 30 year ( fixed ) 5.375% APR 5.503%
30 year (fixed) 4.750% APR 4.922%
7/1 ARM 3.875% APR 3.534% 5/1 ARM 3.750% APR 3.532%
7/1 ARM 4.250% APR 3.833%
10/1 ARM 4.875% APR 4.296%
FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.250% APR 3.582%
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
Vice President/Mortgage Consultant
Patriot Bank Mortgage
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com
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