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April 1, 2015

2015 Quicken and EZ

First, you need to know, you cannot get the same pricing by going direct to the lender, you must call me to get the no cost pricing at the lowest rate. 

Unfortunately the "Behind The Scenes" recording is on pause since we need to make hay while the sun is shining. Rates are lower now than they have been since we opened our doors in the middle of 2013. The lowest was in January for one day 3.5% was available for no points and no fees on a 30 Year Fixed.

Today you are looking at 3.625% for the best scenario possible. I expect rates to be even lower by winter. However, I would not let that stop you from obtaining the lowest rate for no points and no fees now just in case it does not.

Quick Notes

The credit or cost shown does not factor in lender admin fees, appraisal, title, escrow,
notary, government recording charge or any other third party fee.
This is the credit you will get towards your fees.
The feds have stated that they are going to start buying bonds in June 2015. The regulating agency that regulates all primary and secondary home mortgage lending will be making the biggest change in lending since May of 2009. The HUD you know today will not exist, the GFE will not exist, the disclosure will make sense for the first time. Finally it will be easy for lenders and borrowers to issue disclosures but more importantly, the clients will really understand what they are looking at even if it’s their first home loan.

One thing to keep in mind, the index rates in America are the highest in the world, almost double, in most cases more than double what other countries have.

Interesting Fact

95% of national home owners choose the fixed rate but only 10% of them keep the fixed long enough for it to be a better option than the ARM. Meaning 90% of the clients that go with a fixed would save more and pay their principle down faster if they choose the ARM. 

Last Chance For No Income Verification

If you apply for a HECM now or prior to April 27th, 2015, you will qualify for a HECM without income requirements. However if you apply afterwards you will be subject to documenting income. If you are over 62 and your wife is under 62, this is something you want to start right away because if something happens to you she will not need to have an income to assume the loan.

Quick and Easy

Quicken Loans and So EZ Mortgage working together to bring ease and financial prosperity to responsible home owners. Right now on select products, Quicken Loans is delivering the top pricing. For example, Condos, High Balance Investments and LPMI. They are Quick and we are EZ.