Did you read the headlines? Good news, the Fed (Federal Reserve Bank) is talking about cutting interest rates, that is the Federal Funds Rate which banks use to borrow from the federal government. So, we expect to see the Fed Funds rate & mortgage rates drop .25% or more at some time during each of the next 5 quarters and beyond.
So, when you are considering a mortgage loan, why would you get a 30-year fixed rate loan today at 6.53% average rate per Bankrate, when rates expect to be decreasing??
Solution: 5/1 ARM mortgage loan in 49 states
Loan program details:
- 3% down payment minimum
- 620 FICO minimum
Example: based on $560k loan amount, 740+ FICO, SFD purchase mortgage in Florida:
- 5.625% rate, 6.245% APR
- $1,200 lender fees
- No points
- $327/month savings versus 6.53% 30 year fixed rate or $3,924/year savings
Bonus options:
- 10% down with No PMI, add .125% to rate
- Rate float down option – if rates drop during loan process, you may decrease your rate too at no additional cost
Call me at 714-310-4162. When you want the BEST loan program at the lowest rate and fees, Dan the Man for Mortgages is the solution.
Client success story:
Another 5-star rating, from clients Rich and Kelly M.! Dan the Man found a “diamond in the rough” loan from ONE LENDER who offered a special loan program and exception, saving a ton of money on their loan by cutting their rate in half!
Another 5-star rating, from clients Rich and Kelly M.! Dan the Man found a “diamond in the rough” loan from ONE LENDER who offered a special loan program and exception, saving a ton of money on their loan by cutting their rate in half!