TMFBB21

Reach out. You could qualify for a physician loan, which is a great deal to gain equity and pay off your loans (if applicable). My email is britt.bowker@canvasmortgage.com

Just seeing this… yes ARMs are a good option. Unfortunately They are pricing higher than 30 year fixed. Many sellers are offering buy downs which can really help in this market. Buyers are in the drivers seat so I’m seeing ppl getting great deals on houses

Originally it was forecasted to get better beginning in October when inflation numbers will begin to improve which will give us relief in Q4 and Q1 of 2023. I read this today which is a pretty bearish outlook...

"Mortgage rates and the 10-year Treasury yields move closely together. Both of these interest rates are hitting their “resistance” points. Once punctured the interest rates could move much higher. The concept of resistance points is principally based on the momentum of financial markets. Think of it as a battle line between two armies. The line will hold or break. Once broken there tend to be bigger than normal subsequent changes.


The 30-year mortgage rates have shown resistance at 8.2%, at 6.2%, and 4.2%. The 4.2% was already broken. It is now battling at 6.2%. If broken, the chart is implying mortgage rates popping higher to possibly 7% or even 8%."

With that being said, if you can afford the monthly payment on a home you like, you can refinance it or get an ARM. You may save more now buying a house than you did when rates were better.

Due to the current market, many investors will allow you to close residential loans in an LLC or you can lump the properties into one loan. You could even possibly qualify on cash flow from the rentals. Eustis wont have this product. Reach out username@gmail.com and I have a couple of ways to structure it. I am local in Baton Rouge

This is true- I send my higher network clients to banks. Banks want these loans for their portfolios. From what I have seen, this has not been true for your average borrower. Most banks will have the market rates for them

If a bank keeps the loan as a portfolio loan, then they do not have to price off the market. From what other clients have said, they usually make you bank a certain amount of money or have hidden fees. Many banks use the "brokers" to underwrite and process their loans- That fee for service is given to the borrower. Look over your loan estimate to ensure you do not have an additional fees. Depending where you live, you should only pay $1500 max in processing in UW fees

Stay local is $10/more than Quicken and the money stays in the area - win win if you ask me

Go local - Better.com and other online lenders are financially hurting. Their model is only for low interest rate times and they are currently scraping to get by. This isnt an option. Many are publicly traded and this is public information. Even loan depot had an article out today that they are closing departments. Going local stays in your community.

Here is todays rate on the scenario you described below. We had a lock alert yesterday so rates did jump a bit yesterday. Local lenders can give you this rate if you give them credit score, purchase price, and loan amount. I estimated 760 credit score.

5.5%, no buydown, monthly payment is $1062. If you want more information you can email me at username@gmail.com

Phil Long un Grapevine TX can quote you

C: 214.507.8478

You can pay your MI up front which sometimes is a better deal than paying monthly until you get to 20% - I would have to quote both options and see what your timeline to live in the house. If you plan to sell in the next five years, it might not be worth it. As for another rate quote, I can give you one if you are in LA or MS. Im typically less than most because I do not have a branch override fee. You can reply here or email (username @gmail.com) your credit score, and estimated house value. This would only be an estimate because I could not guarantee a rate until I had your contract and a complete application.

Mortgage companies that were refinance call centers are getting desperate and shutting down regularly. Best advice is to use a local lender who doesn't sell this information. Let me know if you need a quote to compare. Jumbo loans are great products and I would need to compare your scenario and financial goals to tell you if a 7/1 arm is a good fit.