Monday, April 22, 2013

Buy A Home with 5% Down - Low Down Payment Loans on the Rise Says

Refinance Up to 95% and Lower Your Interest Rate

Have the banks returned to the go-go days of 2005?  No.  The simple truth is that the banks are not the ones taking the risk on these 95% loans.  You pay a Premium Mortgage Insurance Company to insure the difference between 80% and 95%.

You may be more familiar with FHA loans which do exactly the same thing.  In fact, the FHA will provide you with insurance to cover up to 96.5%.  Seems like a better deal.  But it isn't necessarily always the best deal.  The FHA requires you to pay that fee for 5 years, where private PMI companies only require two years.  On the other hand, the FHA accepts the banks appraisal, where private companies often run their own.  Sometimes the PMI appraisal comes in lower, which might get in the way of doing the deal.

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YOU CAN Buy a Home or Refinance with Only 5% Down in 2013!  Use PMI instead of FHA to save money.

A knowledgeable mortgage broker working with an excellent lender usually knows how best to get a deal done.  We can help you, since our resources for lenders is huge.

Over the last dozen years, I have helped hundreds of individuals and families:
♦ Get a mortgage for their first home
♦ Refinance a mortgage to provide a college education, a kitchen remodel, or to consolidate debt
♦ Lower the cost of a mortgage through better terms, interest rates, or both
♦ Find the lowest cost mortgage possible
♦ Invest their capital in outstanding residential rental properties
♦ Who are credit challenged find ways to fund a mortgage
♦ Investigate arcane and complicated legalities dealing with foreign buyers, trusts, and more
♦ Creatively acquire a mortgage with low down payments through an FHA mortgage loan
♦ Save money by using private premium mortgage insurance

Since I am a mortgage broker, I am beholden to no bank. And while I am associate with a lender who underwrites most of my clients' mortgages, I have also worked tirelessly to find markets for mortgages that other lenders have no knowledge of.

I have made myself available as a speaker to civic groups who are interested in getting the most up-to-date information possible on every aspect of mortgages. And if I don't have the answer today, i have an iPhone full of contacts that can get me the answer. ►► If you need a speaker for your meeting, please call. I will be delighted.

I have also developed relationships with tax experts, CPA's, wealth managers, realtors, lawyers, and other professionals who are expert in their fields. This helps my clients to have confidence that every aspect of their transaction is being handled by outstanding practitioners.

♦♦♦ My mortgage consulting is totally FREE! There is no obligation to call and get your mortgage questions answered. Whether you want the current rate on a 15 year fixed, or you have a complicated trust issue, I'm here to help you at no cost. ►► 310-295-6213

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