30 Year Fixed Rate Loan at a Cost of One Point: 4.0%

30 Year Fixed Rate Loan at a Cost of One Point: 4.0%*

Rates improved again, as our weakened economy struggles on life-support. Durable Goods sales were way down in July, as were New Homes sales. Again, for people new to our “Comments” – weak economic reports tend to improve rates, while strong economic reports send rates upward. Strong inflation signals also send rates upward.

We are frequently asked about the risk of Identity Theft from borrowers who are emailing and faxing sensitive info to us. We have been collecting info in this manner for over 15 years from literally thousands of borrowers, and we have never had a case of identity theft.

Following are several of the reasons why: (1) we are closely regulated and all files must be “put away” at all times, and every hard-copy document gets shredded upon disposal; (2) we have and have always had an exceptionally secure network “fire wall” – we have never been “hacked into”; and (3) the wholesale lenders to whom we send loans have even tighter regulations and stricter controls with respect to the holding and disposal of documents.

*The above rate quote has the following assumptions: $400,000 Loan Amount; 20% down payment; credit score above 740; property is SFR; borrower has sufficient income to qualify; APR is approximately 0.20% higher than quoted rate for a $400,000 loan. Estimated closing costs affecting the APR include $4,595 for Origination and Processing Fees, $850 for other Lender Fees; $1,400 for Escrow Fees, and $1,000 for Prepaid Interest.

Call Jay Voorhees or Heejin Kim at (925) 855-4491

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