No Closing Cost refinance rates 11/10/2009
Rates listed below are for NO CLOSING COST mortgage refinances in Maryland, Virginia and Washington D.C.
VISIT WWW.JOSHBURLEY.NET for more information about me
Rates listed below are BASE rates. Rates are based upon a $300,000 minimum loan amount, no cash out and a credit score 720 or greater, closing cost not to exceed $3,000. Please call or email me for a custom rate quote.
No Closing Cost 30 yr fixed rate mortgage:
4.875 with $1200 closing cost credit
5% Up to $2500 closing cost credit
5.125% Up to $3200 closing cost credit
No Cost 30 yr fixed JUMBO mortgage rate up to $729,750 :
5.25% up to $5,000 closing cost credit
Lender paid closing cost 30 yr fixed FHA mortgage rate:
5% $2000 closing cost credit
5.125% Up to $3,000 closing cost credit
FHA streamline 30 yr fixed with NO MONEY OUT OF POCKET:
4.875% 30 yr fixed rate
Contact Josh Burley today to lock your NO CLOSING COST REFINANCE
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
No Closing Cost refinance rates 11/9/2009
Rates listed below are for NO CLOSING COST mortgage refinances in Maryland, Virginia and Washington D.C.
Rates listed below are BASE rates. Rates are based upon a $300,000 minimum loan amount, no cash out and a credit score 720 or greater, closing cost not to exceed $3,000. Please call or email me for a custom rate quote.
No Closing Cost 30 yr fixed rate mortgage:
5% with $2,000 closing cost credit
5.125% Up to $3,000 closing cost credit
5.25% Up to $4500 closing cost credit
No Cost 30 yr fixed JUMBO mortgage rate up to $729,750 :
5.25% up to $4,000 closing cost credit
Lender paid closing cost 30 yr fixed FHA mortgage rate:
5% $1500 closing cost credit
5.25% Up to $3,000 closing cost credit
FHA streamline 30 yr fixed with NO MONEY OUT OF POCKET:
5% 30 yr fixed rate
Contact Josh Burley today to lock your NO CLOSING COST REFINANCE
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
If you have an FHA mortgage and you are considering streamlining, Here is what you need to know
1. You ALWAYS want to close at the end of the month! When you payoff an traditional loan, you will only pay interest for the amount of days that you actually have the loan. Example: Your loan funds on 11/2 , you would pay 2 days of interest to your old lender and 28 days interest to your new lender for a total of 30 days interest. On an FHA loan, you have to pay a full 30 days interest to your old lender. The result would be that you would pay 58 days of interest for 1 month! On a $300,000 loan that would be over $1100 in wasted money. ALWAYS CLOSE AT THE END OF THE MONTH!
2. Don't be fooled by "NO COST Streamlines"! While no cost FHA streamlines do in fact exist, make sure that is what you are getting. Just because you are not required to bring cash to the table, does not mean that your loan is NO COST.
3. Most lenders require a credit score. Prior to March of this year, lenders were not requiring credit scores for FHA streamline refinances. Today, 95% of lenders require a score of 620. I do still have lenders that will allow no credit score streamlines, but they will question the overall credit worthiness.
4. FHA streamline guidelines are changing on 11/18/2009. While most changes are minor; there are two big changes. 1. the maximum loan amount will now be your payoff MINUS your mortgage insurance refund. This will make streamlines with zero cash out of pocket very difficult to attain. I highly reccomend starting the streamline process prior to 11/18. 2. Borrowers will have had to have made at least 6 payments prior to streamlining. If you purchased a home in the past 6 months and have a rate 5.5% or higher, call me today!
5. Work with a lender that you can trust. I am an expert in FHA mortgages. I post my rates daily @ www.joshburley.net and I never have hidden fees.
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
How long does the mortgage refinance process take? 
It is important to have proper expectations as to how long it will take to settle on your refinance. There are many factors that can affect the time that is will take to close. Please read on for a basic time line for a traditional FHA , Fannie Mae and Jumbo refinances.
Step 1: Identify a broker/lender that you trust to handle your loan transaction. Do not be fooled by "low cost/hidden fee" internet chop shops. It is important that you do not lose sight of the fact that your mortgage is your LARGEST financial obligation. You would not go to an unlicensed doctor in Tijuana for heart surgery, do not go to a part time loan officer/full time waiter for your mortgage.
Time elapsed: As long or as short as you would like, or you could call me now
Step 2: Complete a loan application, either in person or online. If you have any doubts about the company that you have chosen, it may be a good idea to visit their office for the application
Time elapsed: Online is about 15 minutes, in person should be within 24 hours (this a real time market, today's rate could be gone tomorrow. I suggest acting quickly)
Step 3: Gather all requested documentation to submit to underwriting. This is where YOU control things. It is imperative that you are as responsive and proactive as possible.
Time elapsed: 48 hours
Step 4: Once your lender/broker has received all necessary documentation, they will submit your complete loan for underwriting. All lenders have different underwriting turn times, some are as little as 8 hours, some are up to 3 weeks. Ask you loan officer who your loan is being underwritten by and how long it will take. This will also be the time when the appraisal is ordered. Under the new regulations, the lender cannot order your appraisal until 4-7 days after you have received your truth in lending agreement.
Time elapsed: Most lenders average 7-10 days
Step 5: Your lender will issue a conditional underwriting approval. Most often, the conditions that they ask for will be easy to satisfy (i.e., updated paystub, updated bank statement, corrections to title work etc....) Gathering and submitting these conditions will take about 48 hours. Once submitted, it can take up to 72 hours for the conditions to be reviewed and approved.
Time elapsed: 6-8 days
Step 6: Schedule loan closing.
Time elapsed: Many lenders require that loans are scheduled no less than 72 hours after the cleared to close is issued
Total time elapsed to apply, submit and close your loan : 28-31 days
This is assuming that you do not have anything go wrong, that you do not have a 2nd mortgage that requires subordination and that your lender is working aggressively on your behalf.
What if you need to close faster?
Choice Finance holds a lenders license and has the ability to underwrite loans right here in our Rockville, Md headquarters. This allows us to close your loan much faster than your average mortgage broker. Visit me online today @ www.joshburley.netand www.choicefinance.net
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
***IMPORTANT FHA GUIDELINE CHANGES TAKE EFFECT ON 11/18 - CLICK HERE FOR MORE***
TODAY'S MORTGAGE RATES : MD, VA & DC
Updated 10:45 am 11/5/09
All rates listed below are BASE rates on a 30 day lock. Factors such as credit score, loan to value, occupancy, cash out, loan purpose, property state and lock period can change these rates for better or for worse. Please contact me today for a custom rate quote.
Please call for 10,15,20,25 and 40 year quotes. We also offer ARMS, Interest Only and Super Jumbo mortgages up to $2 million
Adjustable Rate Mortgage (ARM) Rates from 3.5% call or email for details
30 yr fixed rate mortgage below $417,000
4.5% 2.25 points
4.75% 1 points
5% NO POINTS
Fannie Mae JUMBO mortgage30 yr fixed rate(up to $729,000)
4.8750% 1 point
5.25% NO POINTS NO CLOSING COST restrictions apply, call for details
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.75% 1.25 points
5% NO POINTS
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
5% 1 point
FHA JUMBO mortgage rates (up to $729,000)
5.00% 1 POINT
5.25% NO POINTS
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
5.00% .75 point
5.25% NO POINTS $1200 closing cost credit
Contact Josh Burley today to streamline your FHA mortgage
301.881.8900 x125
Work with a LOCAL mortgage lender that you can trust. Choice Finance has been serving the DC Metro area since 1996
Apply online now! @ www.choicefinance.net/apply
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
FHA, VA, Conforming and Jumbo loans. With 6+ years experience in retail and wholesale, I have what it takes to make your next mortgage experience, your best mortgage experience
Allow my experience to be your resource!
Thank you for visiting my page today. With 6+ years of mortgage finance experience, having worked both as a loan officer and a wholesale account executive for some of the largest banks in the world, I have the experience and knowledge that you need.
My business philosophy is simple:
Whether you are purchasing a home or refinancing your current mortgage, obtaining financing can be intimidating and stressful. This does not have to be the case. Only work with a professional that makes you feel like you matter! Call me today for a free no obligation rate quote!
Over the years, I have had several areas where I have specialized.
Most recently it has been FHA. Working for subsidiaries of Goldman Sachs and Barclays, I closed over 175 FHA loans in 2008. Many of those loans were FHA streamline refinances. While the premise of the streamline is simple, I know the little things that can help save you money, close faster and obtain a lower interest rate. If you have an FHA loan, call me today to inquire about a streamline refinance.
Recently, I have taken a great deal of interest in the Fannie Mae Refi Plus program. This is a program designed to help homeowners who have very little equity, or are upside down on there mortgage.The guidelines on this program change regularly. I have been able to help clients with this already. I have taken clients who had a 6.5% interest rate and a 95% LTV all the way down to 4.375% fixed with no mortgage insurance. If you have very little equity or are upside down on your mortgage, call me today to see if I can help you!
Of course I offer standard conforming loans, conforming jumbo loans up to $729,750, super JUMBO loans up to $3 million, ARM's, interest only and VA loans. As a broker, I have access to almost every program on the market. Allow my experience to be your resource!
Click here to see testimonials for myself and some of my colleagues at Choice Finance
Considering what's going on in the home loan and financial world Josh and Choice were easy to get along with and very professional.
Evelyn Aponte-Sacks and Howard Sacks of Potomac MD
"He (Josh) was very responsive and helpful during a difficult process"
-Brian Koepsell of Frederick, MD
We chose Choice Finance because the rates were low after searching many companies. Our loan agent, Josh Burley was absolutely wonderful from start to finish.
We have refinanced in the past and have never received the type of service that he provided. He didn't make us feel that we were in the dark about anything, he was polite and answered every question that we had. He kept us informed with each step along the way and even got us a lower rate than we requested!
I wouldn't hesitate in a heartbeat to use Josh Burley and Choice Finance again and recommend him to anyone we come in contact with.
Ronald & Michelle Habrat
of Glen Burnie, Maryland
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