The 30-year fixed rate mortgage is way too high at 6.625% rate.
Solution: Save a lot of money by getting an ARM loan.
Long-term 30-year fixed rates will be dropping during the next 7 years, so buy now, save a ton of money on your payment, then refinance to a 30-year fixed rate in 2-4 years.
Loan program and terms:
- 5.375% rate, 5.917% APR
- 7/6 ARM, no points
- 25%+ down payment, 780 FICO
- $1,000,000 purchase price, $750,000 loan amount
- $4,199.78 P&I payment
- $4,893.29 CREDIT towards closing costs*
- Los Angeles, Orange, Riverside, San Diego, San Bernardino, Ventura County residents in CA
- Save $602/month in payment with 5.375% rate versus 6.625% rate or $7,232/year
* if payoff loan within 36 months, payback prorated portion
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.
Rave client review:
“Dan Stone’s process is unique. Rather than trying to fit every borrower into an off-the-shelf loan program, he takes the time to understand each client’s specific financial situation, goals, and challenges. He then leverages his extensive network of lending partners and resources to identify the best possible financing solution for that borrower.” -Rob W.
“Dan Stone’s process is unique. Rather than trying to fit every borrower into an off-the-shelf loan program, he takes the time to understand each client’s specific financial situation, goals, and challenges. He then leverages his extensive network of lending partners and resources to identify the best possible financing solution for that borrower.” -Rob W.