And now a Finance word from FIRST INVESTORS (Belmont, MA)
This from Jim Brown of First Investors Mortgage in Belmont (MA)617-484-8383 or
email: jimbrown@firstinvestorsmortgage.net
Although the news and media keep reporting on the Fed lowering the discount rate, 50 basis points yesterday, mortgage rates have actually moved upward a slight bit.
I am sure over the month they should slide back but in any event they are excellent.
Also there is rumor that the conforming limits will soon be increased to help ease the burden on the larger loans. (lets hope so !!!). In general rates should help spur the purchase market a bit.
There are some Community homebuyer programs that have come back in play which provide for lower downpayment and easier loan qualifications. We have a program for:
1 Unit 100% LTV
2 Unit 97% LTV
3 Unit 95% LTV
4 Unit 90% LTV
The max combined income is $108,000.00. This is a great program
for first time homebuyers.
CONFORMING
30 YEAR FIXED
5.625% 0 Points
5.125% 2 Points
15 YEAR FIXED
5.125% 0 Points
4.500% 2 Points
JUMBO
30 YEAR FIXED
6.125% 0 Points
7/1 YEAR ARM
5.625% 0 Points
5.125% 1 Point
Give them a call with questions, scenerios, or pre-approvals
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
Belmont, Ma. 02478
Work # 617-484-8383
Fax# 617-489-4976
Email: jimbrown@firstinvestorsmortgage.net
1 comment:
Save money by using term life insurance instead of the mortgage insurance offered by the lender. Not only is this a cheaper solution, but it gives you the power of naming the beneficiary. For those who wish to have permanent life insurance, choose a policy that converts into whole life insurance at the end of the term, it will then begin to accumulate a cash value.
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