Rate Report

NewsRate Report

True Stated Income No WVOE No P&L No 4506T

  • Stated Income program.
  • Rate starts at 4.75%. APR 5.13%
  • Rates lower on modified Stated with CPA letter and VOE.
  • 7/1 ARM. 
  • Available for purchase or R/T Refinance.
  • Owner/Investor or Units are acceptable.
  • Condos are acceptable.
  • Maximum loan size is 2.5MM
  • Minimum FICO is 700

Stated income loans used to be very common but then they went away as banks could not sell these loans on Wall Street.  The Mortgage meltdown ended the Stated Program but they are finally back. We have two programs to choose from. One is a true stated where we don’t request any income documentation.  Income information is still required to declare.  The second program requires a CPA or Accountant letter and/or a VOE from your job.  Borrowers who have both VOE and stated income. 

To discuss your confidential loan scenario please click this link to schedule an appointment (Click Here) 

Phone:  310-478-4999
Email:mitch@targetrate.com
Skype: mitch.lichterman

Rate Report

RATES REMAIN LOW

RATES REMAIN LOW

  • Despite gains in the bond market interest rates continue to remain low.
  • 30 year conforming (417K and below) remain lower than 4% with 0 points.
  • Jumbo 30 year fixed to 2MM have trended lower and are hovering around 4%.

 

STORIES FROM THE TRENCHES:

Kids wanted to take over the home that their Aunt owns.  We arranged a gift sale transaction where the kids did not have to come up with any down payment. The Aunt pledged the equity in the home as the gift down payment.

The kids were able to complete the purchase and gain home ownership.

For a confidential discussion with Mitch about  mortgage   rates, loan terms, closing costs, qualifying or property ownership please contact.

Phone:  310-478-4999
Email:mitch@targetrate.com
Skype: mitch.lichterman

Rate Report

RATE REPORT

RATE REPORT

Interest rates remain flat despite increase to bond yields.

Normally 30 year fixed rates are tied directly to the movement of the 10 year treasury bond.  But, over the last month rates have remained flat even though yields are increasing.

What does this mean?  Most likely it means that rates are being pushed down by other economic factors and it’s probably wise to lock in a rate now.  Rates are bound to rise.  The trend in the 10 year bond yield is a good indicator that interest rates will increase.

Today you can still find conforming rates below 4% with 0 points origination fee but that will likely change in the near future.

However, interest rates often drop during the last month of the year as market activity decreases.  We may see one more drop before rates start to increase into 2018.

To discuss your private scenario please email Mitch@TargetRate.com

For a confidential discussion with Mitch about  mortgage   rates, loan terms, closing
costs, qualifying or property ownership please contact.

Phone:  310-478-4999
Email:mitch@targetrate.com
Skype: mitch.lichterman