The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Friday, February 27, 2009
Today's Rate
Thursday, February 26, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Wednesday, February 25, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Tuesday, February 24, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Monday, February 23, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Friday, February 20, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
details on President Obama's Loan Modifcation Plan
The White House Blog does a great job going over the basics of the plan.
http://www.whitehouse.gov/blog/09/02/18/Help-for-homeowners/
Key take aways
March 4 – further details will be provided
Lenders will be self evaluating their portfolios to see who’s eligible, if you don’t hear from them, than contact them.
The program is focused on lowering the interest rates, not writing off loans
The loans need to be owned by Freddie or Fannie (you can find out by contacting your lender after March 4) (max loan would be $729,750 than??)
Even if your loans exceeds 80% of the value, Fannie and Freddie will refinance (I assume what they mean is that there won’t be an MI fee, or other risk based fee for going beyond 80% in LTV)
Maximum Loan-To-Value (LTV) is 105%
2nd mortgagee lenders have to agree to subordinate (i.e. no consolidation, terms of 2nd don’t change unless they you negotiate separately with them)
Primary residences only (1-4 units okay)
Interest rate you get is a 30 yr fixed at today’s market rate (this is not guaranteed to be better than what you have)
BIG Difference – you don’t have to be delinquent to qualify.
Current Debt to Income Ratio must exceed 31% (that is you must have a need!)
If your loan balance is greater than 105% there are incentives for the lender to reduce principal (let’s see how that plays out)
Fees for modification are typical refinance fees (escrow, title, appraisal, points, lender fees,…). Review the Good Faith Estimate, determine time to payback to determine if it makes sense to proceed.
Graph of who it'll help
I hope this program works, I like that fact it’s far more detailed than anything that’s come before it.
Sunil Sethi
www.sunilsethi.com
Thursday, February 19, 2009
Jumbo conforming rolling back to $729,750 for rest of 2009.
However, as you should know by now, just because it was signed doesn’t make it effective immediately.
Here’s what needs to happen before you can get a $729,750 loan (sent by one of my wholesale lenders)
IMMEDIATE ATTENTION REQUIRED…
Recently, the President signed into law the new stimulus bill – called the American Recovery and
Reinvestment Act of 2009.
For conventional and FHA loans, the Act temporarily reverts the current loan limits back to the loan
amounts/levels allowed in 2008 with the Economic Stimulus Act. Three things must happen before
LENDER can accept loans with higher loan amounts:
1. The Agencies (Fannie Mae and Freddie Mac) and FHA must determine whether pricing, policy and/or
delivery requirements will be changed.
2. The Agencies and FHA must communicate their requirements to mortgage lenders.
3. LENDER must identify impacts caused by the Agencies’ and FHA’s requirements and implement the
changes.
Watch for additional information in the future about dates and specific changes. Until official notice of
the effective date for the American Recovery and Reinvestment Act of 2009 loan limits, Brokers should
continue to follow existing polices and processes regarding loan limits.
Sunil Sethi
www.sunilsethi.com
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Wednesday, February 18, 2009
FAQ on first time home buyer tax credit for $8000.
I’ve been getting this question a lot, so here’s a great Summary and a detailed FAQ on the first time home buyer tax credit at the National Home Builders Association Site.
http://www.federalhousingtaxcredit.com/2009/faq.php
Sunil Sethi
Main (510 793-8600
Cell (510) 388-2436
Fax (510) 431-9046
sunil@sunilsethi.com
www.sunilsethi.com
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Tuesday, February 17, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Monday, February 16, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Friday, February 13, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||
FW: Bad Biz Banks and Peanut Butter - But a GREAT Show.
Video commentary on yesterday’s financial news.
Sunil Sethi
It Does Make Sense to Pay a Point
It used to be that the difference between a no-cost and cost refinance was about a .25% however today the difference can be as high as 1%. So consider both options in deciding which way to go.
The math basically involves determining how long it’ll take to recover your upfront costs. If it’s less than 2-3 yrs, and you plan to stay in the home for at least 5+ yr, than consider paying the costs.
Thursday, February 12, 2009
FW: Merrill Lynch Arrogance is APPALLING!
Today’s market commentary
Merrill Lynch Arrogance is APPALLING!
CLICK HERE to Play Video
Array
If you have received this indirectly and would like to be added to my distribution list, CLICK HERE
©2008 ThinkBigWorkSmall
3700 Hilborn Rd. #700, Fairfield, Ca. 94534
To Unsubscribe, click HERE
Powered By: ThinkBigWorkSmall
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||
Wednesday, February 11, 2009
Seasoning requirements updated on refinances
Got this from TB&W but may become std for other lenders as well:
There are no exceptions to the Seasoning Requirements on Cash Out Transactions.
Sunil Sethi
Main (510 793-8600
Cell (510) 388-2436
Fax (510) 431-9046
sunil@sunilsethi.com
www.sunilsethi.com
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||
Tuesday, February 10, 2009
Small Commerical Loans upto $500,000
If you’ve been looking for the right lender for your borrower’s small balance commercial real estate loan, your search is over.
Rates as low as 6.00%1
& No Appraisal Fee
Pricing Special Extended
Applications received by February 20, 2009
Purchase, Refinance and Equity
from $50,000 to $500,000
Great rates, convenient terms and save thousands of dollars in closing costs:
· No appraisal fee
· 1% loan origination fee 2, minimum $2,500
· No reserve requirements
· No property tax or hazard insurance impound account required
· Flexible repayment terms; amortized up to 30 years with fixed and variable rates, and a line of credit with an interest-only payment option
· Wide variety of eligible property types including, retail, office building, warehouse, restaurant, assisted living, self-storage, mixed-use, multi-family and more
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||
Monday, February 9, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||
Friday, February 6, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||
Thursday, February 5, 2009
Will we ever see the mystical 4.5% rate. One Major lender says no!
The analysis seems right. I don’t think we’ll see the mystical beast of 4.5% 30yr fixed interests rates, the way the govt is spending money, which has to be financed.
Sunil Sethi
Main (510 793-8600
Cell (510) 388-2436
Fax (510) 431-9046
sunil@sunilsethi.com
www.sunilsethi.com
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||
Wednesday, February 4, 2009
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||
| ||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||
Tuesday, February 3, 2009
Property Tax Appeal Forms
If your home value is less than the assessed value, here is the form to file with the assessor’s office for the 2009-2010 Year
Remember the Assessed Value on January 1, 2009 is used to derive the property tax you pay for the period covering July 1, 2009 – June 30, 2010.
Contra Costa County Appeal Form
Santa Clara County Appeal Form
San Francisco Country Appeal Form – contact the assessor’s office http://www.sfgov.org/assessment/ or call (415) 554-6778.
-Sunil
Sunil Sethi, Realtor, Mortgage Broker, MBA, CPA
Taking You Forward
Story of the Hotdog Salesman
Show and Sell Realty/SMA FINANCING
38350 Fremont Blvd. #202, Fremont, CA 94536
Main (510) 793-8600 Fax (510) 431-9046 Cell (510) 388-2436
sunil@sunilsethi.com
www.sunilsethi.com
This is a great time to buy! These REO deals will disappear in another 8-11 months.
Today's Rate
The Following are Refinance Rates:: | ||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||
The above programs assume you are financing a single family detached home. Additional discounts may be available for low LTVs, high FICOs and imploying impound accounts to pay for property taxes and insurance. Rates are subject to change without notice. | ||||||||||||||||||||||||||||||
Sincerely, Sunil Sethi Broker, Realtor, MBA, CPA (510) 793-8600 ext. 107 (510) 388-2436 | ||||||||||||||||||||||||||||||