Morning Rates

Happy Friday,

Interest rates are flat again this week with the 10 year treasury markets hovering around 2.36%. All seems steady on the western front.

I wanted to be sure and share with you two great programs we have for owner occupied, lower down payment scenarios. With our first and second trust deed combinations, we can set up lower down payment loans for higher sales prices. For Example:

$972,000 Sales price:

$625,500 First Trust deed at 3.99% $2982

$250,000 2nd Trust deed at 5.5% $1419

Total Payment $4401 per month.

Looking at this, remember, there is NO PMI on this loan, the price is $973,000 on the house and the second mortgage is  FIXED RATE for 30 years. We can also lend with that same scenario with only 15% as the down payment on a second home. This program is incredible.

This is just another way we are constantly looking for solution based lending to help your clients.

Are you in the middle of a tough deal with a seller or buyer? Remember that Norman Vincent Peale said “In every difficult situation is potential value. Believe this, then begin looking for it”.

Have a blessed weekend and let us know if we can help in any way.

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