Freddie Mac Relief Refinance Mortgages - Open Access
**You are not required to use your current servicer/mortgage company for this program.
The Freddie Mac Relief Refinance MortgageSM - Open Access supports the federal Making Home Affordable Program by helping borrowers who are making timely mortgage payments but have been unable to refinance due to declining property values.
With flexibility that allows LTV ratios up to 125 percent, relief from standard mortgage insurance, and the ability to submit through Loan Prospector®, you can refinance more borrowers into mortgages that better position them for long-term homeownership success.
**Program will be available on Monday Oct 19, 2009
Proceeds of the Relief Refinance Mortgage - Open Access must be used only to:
Funds available as a result of the rounding must be:
All Tech Mortgage Inc. is your gateway to great mortgage products from Washington State's top mortgage lenders. Locally based in Tacoma, since 1996, we shop, compare rates & fees and connect you with the best mortgage lenders in the Northwest. The interest rates we quote are typically .25% - .50% lower than most national, regional & local mortgage companies like Bank of America, JP Mortgage Chase, USAA, BECU, Homestreet Bank and Wells Fargo. Plus our fees are some of the lowest in the industry.
We Specialize in FHA, VA and Conventional No Cost and Low Closing Cost Purchase & Refinance Home Loans. All Tech Mortgage offers true wholesale pricing from our lending partners. At All Tech Mortgage, we never expect your business, but hope to earn it with our aggressive pricing, speed, and overall efficiency.
www.alltechmortgage.comor call (253) 472-1500 Kevin Tinsley Mortgage Advisor
If your mortgage loan is owned by Fannie Mae or Freddie Mac, you may be eligible for a Home Affordable Refinance to take advantage of lower interest rates. Only loans owned or guaranteed by Fannie Mae or Freddie Mac are eligible. Your mortgage company can tell you who owns your loan, or you can contact Fannie Mae and Freddie Mac directly by clicking on the links below and completing the forms for each company.
|
Fannie Mae
|
Freddie Mac
|
For additional program details call our office at (253) 472-1500.
Working with VA home buyers in Tacoma over the years, I have this question come up quite often.
Can I use my VA Mortgage Benefits more than once? The answer is YES! Although using your VA benefits a second time, could be more expensive. VA differentiates between first time and subsequent use for VA Loans with a downpayment of less than 5%. Currently the VA funding fee for first time use is 2.15% vs 3.30 for subsequent use. Veteran's receiving a 10% or more disability payment, are exempt from paying the VA Funding Fees. Below is the 2009 VA funding Fee Schedule:
2009 VA Funding Fees Active Duty Reservist
& Veterans & National Guard
| Loans for purchase or construction with downpayments of less than 5%, refinancing, and home improvemment |
2.15 percent |
2.40 percent |
| Loans for purchase or construction with downpayments of at least 5%, but less than 10% |
1.50 percent |
1.75 percent |
| Loans for purchase or construction with downpayments of 10% or more |
1.25 percent |
1.50 percent |
| Loans for manufactured homes |
1 percent |
1 percent |
| Interest rate reduction loans |
.50 percent |
.50 percent |
| Assumption of a VA-guaranteed loan |
.50 percent |
.50 percent |
| Second or subsequent use of entitlement with no downpayment |
3.3 percent |
3.3 percent |
A second question that comes up is, If I still own the home, but have since refinanced my VA loan to a conventional loan, can I use my VA Benefits again? The answer is YES.
There is a quirky rule regarding restoration of eligibility when the veteran still owns a property that was financed VA, even if the property is free and clear.
VA will do a one-time restoration of eligibility to the veteran. This restoration allows the veteran to purchase another home using their full VA Home Loan benefits.
** With the recent changes in qualifying, when keeping your current home as a rental, VA does not follow the same guidelines as Fannie Mae, Freddie Mac & FHA. This alone could be a deal saver! For more details on this or an VA Home Loan Question, visit us online at http://www.VAHOMELOANSTACOMA.COM
With property values declining in most areas, the ability to do a VA Refinance above 90% of the appraised value can be a challenge. Most major lenders limit the maximun loan to value ratio at 90%. All Tech Mortgage Inc, still has access to lenders that offer the VA Cash Out Refinance program up to 100% of the appraised value.
Just this week we have been able to refinance a young couple out of 80/20 ARM loan into fully amortizing 30 year fixed rate loans at 5.00% (5.088 apr).
If you are searching online for VA lenders who offer the VA Cash Out program, you may want to check the maximum loan to value ratio(LTV) their program allows. If you are close to the 90% limit you may want to check out these resources to estimate the value of your home:
www.zillow.com and search the comparable sales for your home
www.JohnLScott.com - Search under sold listings to see what's been selling in your neighborhood
For more information about VA Home Loans in Tacoma, feel free to call Kevin Tinsley - Tacoma's #1 VA Mortgage Expert at (253) 472-1500 or toll free at (800) 339-7059. For current VA Mortgage Rates, visit us online at http://www.VAMortgageTacoma.com
Time is running out to refinance your Puyallup FHA Mortgage under the old FHA guidelines for Streamline Refinances. The ability to finance in closing costs without an appraisal will be ending on Jan 1, 2010 making it difficult to refinance if your property value has fallen.
We are also doing a lot of No Closing Cost FHA Streamline's. Instead of adding $10,000 onto your existing loan balance, let us pay your closing costs with the lender's money. You typically won't find these options at Bank of America, Chase or Citibank.
As of 10/1/20009, interest rates are near the lowest point of the year, take advantage before rates go back up or the FHA Streamline Refinance Program changes. For more information, call (253) 472-1500 or visit us online at www.fhamortgagepuyallup.com
Kevin, Joel & I would like to say thank you with all of your help with our refinance. We appreciated your honesty and willingness to answer all of our questions. You were very patient and made the process smooth and painless. Sincerely, Kristin & Joel
 |
|
|
Tacoma's #1 Mortgage Expert, Kevin Tinsley has been helping Northwest Homeowners since 1996 with New Purchase and Refinance Home Loans. Check out our competitive mortgage rates at alltechmortgage.com
The Tacoma FHA Mortgage Pro's - Purchase or Refinance Mortgage Options.
All Tech Mortgage Inc. is your gateway to great mortgage products from Washington State's top mortgage lenders. Locally based in Tacoma, we shop, compare rates & fees and connect you with the best mortgage banks in the Northwest. The interest rates we quote are typically .25% - .50% lower than most national mortgage companies like Bank of America, Wells Fargo, BECU & USAA Mortgage. Plus our fees are some of the lowest in the industry.
We Specialize in No Cost and Low Closing Cost Purchase & Refinance Home Loans. All Tech Mortgage offers true wholesale pricing from our lending partners. At All Tech Mortgage, we never expect your business, but hope to earn it with our aggressive pricing, speed, and overall efficiency.
Click on Mortgage Rates to visit our website: FHA & VA Approved Mortgage Advisor 510-MB-18885
All Tech Mortgage Inc. - Tacoma's #1 Mortgage Expert Since 1996
7403 Lakewood Dr W, STE 2
Lakewood, WA 98499
(253) 472-1500 office
(800) 339-7059 toll free
(866) 421-1788 fax
Searching for the lowest mortgage rates in Tacoma, Lakewood, Puyallup, University Place, Steilacoom, or DuPont, WA?
Take a look at some of our current mortgage programs:
www.fhahomeloanstacoma www.fhahomeloansseattle.com www.vahomeloanstacoma.com www.vahomeloansseattle.com
Feel free to use our mortgage calculators, search for the lowest mortgage rates, compare different loan options, all within our website. For more information on any of our programs including FHA Loans, VA Loans, 30 Fixed Mortgage Rates, Refinance Mortgage Rates, or how to use our mortgage calculators, call our office at (253) 472-1500.
See what people are saying about Kevin Tinsley & All Tech Mortgage
Kevin, Just wanted to thank you for all your efforts & patience in helping us buy our new home. It's nice to know we'll have someone we can count on in the clutch who really know their business. Your results in such a short period of time were nothing short of spectacular! Keep in touch and all the best with you & your family. Sincerely, Chris & Deanna
______________________________________________________________________
Kevin, Thank you so much for your efforts & help in obtaining financing to buy my home. Very much appreciated. Rita Weedin
______________________________________________________________________
Kevin, We want you to know how grateful we are for the work you did for us. Even though we never met in person we found you very much like Bill & Marie said you were! Thanks again - hopefully we can send business your way one day. Sincerely Don & Linnea Steinmetz
______________________________________________________________________
I can highly recommend Kevin Tinsley without reproach. My experience with Kevin Tinsley processing of my mortgage were of an extremely positive nature. Kevin was able to keep up with me through three moves from Kansas, New York, and Georgia before I ultimately arrived in Washington. I would not think twice about using Kevin again for my mortgage needs. John G. Levine Major US ARMY
______________________________________________________________________
Kevin, I just wanted to take a moment to thank you for the outstanding job you did for Angie and I with processing our home mortgage. Everything went smoothly and was completed in a timely fashion. You were able to answer all of my questions and provide several options. I would not hesitate to use your services again, should the need arise. I will also refer others to your office as well. Eric Chell
______________________________________________________________________
Kevin, Thank you very much for handling our mortgage refinance so perfectly. You exceeded our expectations in your quality of service and speedy completion! We will definitely recommend you to everyone. Best Wishes in your growing corporation. Again, thanks for making a confusing experience a learning one! Sincerely, Vic & Lisa McCole
______________________________________________________________________
Kevin, We just want to thank you for going the extra mile for us on our refinance. Your efforts in expediting the process and especially getting us the low interest rate. Please enjoy a nice dinner as a token of our appreciation. Charles & Louise
______________________________________________________________________
Kevin, Thank you so much for all your help. We love our new house and thanks to you it all went smoothly. We will highly recommend you to everyone. Thanks Again. Kurt & Betty Miller
______________________________________________________________________
Dear Kevin, I just wanted to take the time to tell you just how much Mike & I appreciated all your efforts to make our house-buying experience as easy as it was! I'm sorry its taken forever for me to get this to you, but I did want you to know that we really do appreciate all your hard work. Our best to you and your family. The Gils
______________________________________________________________________
Kevin, Thank you so much for your help with all the paperwork in getting our new house. We really love it! It was a pleasure working with you. You made everything so easy to understand. Thanks again, Paul & Patty VanGorder
______________________________________________________________________
Dear Kevin, I apologize for my tardiness in writing to you. I want to thank you for getting my mortgage refinanced. You made things easy to understand and everything ran smoothly. You are very good at your job. Thanks again, Liz Lemoon
______________________________________________________________________
Hi Kevin, We just wanted to thank you for a very speedy and smooth refinance. We would highly recommend you to anyone. Thanks again, Beth & Ladd Wolfe
______________________________________________________________________
Dear Kevin, I just wanted to thank you for your hard work. You made the process smooth & seamless. Thanks Again, C. Proffitt
______________________________________________________________________
Kevin, Al & I want to thank you for your time and helping us understand what we need to do and not being afraid to check our credit. If anyone I know would ever need your services, either one of us would not hesitate to refer anyone to you. We have started to work on the items on our credit report, and will be in touch soon. Please accept our deep felt thanks and appreciation. J Valencia
______________________________________________________________________
The services we received from Kevin Tinsley were superb. Kevin was very responsive to our questions and concerns as well as very attentive. Phone calls were always returned in a timely manner. S. Avant
______________________________________________________________________
Kevin, You are excellent at what you do. You were there for us every step of the way, starting with our pre-approval. Thanks for all your help along the way. N. Worland
______________________________________________________________________
Kevin, Once again we would like to thank you for helping with the transaction of our house and utilities bill. Everything went so smoothly from our perspective. Good Luck in the future. Verna & Lew Hunt
______________________________________________________________________
Kevin, Thanks again for all your help to get me into my condo! I really appreciate it. If any leads come up for you, I will definitely give them your name and number. John Vogel
______________________________________________________________________
Seldom do any of us take the time from our busy schedule to extend a thank you or recognize another when they do a good job for us. We wanted to make it a point to take the time in this instance to recognize you. Throughout the entire process, you were available to answer our many questions, explain the procedures and generally assist us. You went out of you way to keep us informed of each step. With this letter we want to say thank you, Kevin for a job well done. Your professionalism and caring attitude made what can be a difficult process much more than bearable. We will certainly recommend All Tech Mortgage to our friends and acquaintances. Sincerely, W. Wienholz
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
