TODAY'S MORTGAGE RATES : MD, VA & DC
Updated 11 am 10/8/09
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
**SPECIAL** FHA JUMBO STREAMLINE 5/1 ARM 4.5% NO COST!
30 yr fixed rate mortgage below $417,000
4.375% 1.5 points
4.5% 1 point
4.875% NO POINTS $1500 closing cost credit*
5.125% NO CLOSING COST refinance*
*restrictions apply, call for details
Fannie Mae JUMBO mortgage30 yr fixed rate(up to $729,000)
4.75% 1 point
5% NO POINTS
5.25% NO CLOSING COST JUMBO REFINANCE*
*restrictions apply, call for details
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.5% 1 point
4.875% NO POINTS
5% NO COST REFINANCE*
*restrictions apply, call for details
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
5.000% NO POINTS
FHA JUMBO mortgage rates (up to $729,000)
5.00% NO POINTS
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
5.00% NO POINTS
5.25% NO POINTS NO COST
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
If you currently have an FHA loan, please read the following.
On September 18th 2009, HUD issued new guidelines for FHA streamline refinances. While I agree with the spirit of the new guidelines, the result will be that FHA streamline refinances without appraisals will be more costly. The new guideline will apply to all transaction with an FHA case number issued on or after 11/18/2009.
Why will the new guidelines make an FHA streamline more expensive?
Under the new FHA streamline guidelines, the maximum loan amount will be your outstanding principal balance MINUS your upfront mortgage insurance premium refund. Under the old guidelines, your maximum loan amount was typically equal to your old loan amount. This is a huge change.
Example: You owe $300,000 and you have a $3,000 UFMIP refund- your maximum loan amount will be $297,000. Clearly, this is not even enough to payoff your existing first mortgage. The result will be that you will either have to take a HIGHER interest rate to allow your mortgage broker to pay closing cost, or you will need to come out of pocket with a significant amount of cash.
So what do you do?
Streamline your FHA loan NOW! Rates are currently at all time lows. 4.5% fixed rates are available today with about 1 point upfront. ARM's are as low as 3.5%!
While I am not happy about the loan amount restrictions, it could not have come at a better time. You still have time to streamline your loan with the lowest interest rates that we have ever seen. Do not wait any longer! Rates are low, guidelines are changing, call me NOW!
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
TODAY'S MORTGAGE RATES : MD, VA & DC
Updated 10:35 am 10/5/09
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
5 yr FHA ARM from 3.5%
5 yr Conforming ARM from 3.5%
5 yr Jumbo ARM from 3.625%
30 yr fixed rate mortgage below $417,000
4.375% 1.325 points
4.500% .875 points
4.750% NO POINTS
4.875% NO POINTS PLUS $1200 closing cost credit on loans greater than $300,000
5.00% NO COST REFINANCE - restrictions apply, call for details
Fannie Mae JUMBO mortgage30 yr fixed rate(up to $729,000)
4.8750% .5 point
5.00% NO POINTS
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.5% 1 point
4.8750% NO POINTS
5% NO POINTS $1700 closing cost credit on loans greater than $300,000
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
5.00% NO points
FHA JUMBO mortgage rates (up to $729,000)
5.00% NO POINTS
5.25% NO POINTS $2500 closing cost credit
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
5.00% No point
5.25% NO POINTS NO OUT OF POCKET COST - GUARANTEED!
Contact Josh Burley today to lock your rate
301.881.8900 x125
Apply online now! @ www.choicefinance.net/apply
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Want to make sure you are getting the best interest rate? compare my interest rates to Quicken Loans, Bank of America, Wells Fargo, SunTrust, ditech, Citimortgage, Navy Federal Credit Union . You will see that my rates are 2nd to none. Work with a LOCAL MORTGAGE LENDER that is committed to giving you the best rate & service!
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
4.5% mortgages today Maryland, Virginia, DC
Updated 10:45 am 10/1/09
Work with a local mortgage lender that you can trust. Choice Finance has been serving the DC metro area for 14 years. Stop by our local Rockville, Md office today to visit us!
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
5 yr FHA ARM from 3.5%
5 yr Conforming ARM from 3.5%
5 yr Jumbo ARM from 3.5%
30 yr fixed rate mortgage below $417,000
4.375% 1.875 points
4.5% 1.5 points
4.625% 1 point
4.75% .5 points
4.875% NO POINT
5.125% NO COST refinance* (Choice Finance will pay up to or equal to 1% of your new loan amount)
Fannie Mae JUMBO mortgage 30 yr fixed rate(up to $729,000)
4.8750% .625 point
5.125% NO POINTS
FHA mortgage rates and VA mortgage rates (up to $417,000) /FHA Streamline rates
4.500% 1.5 points
4.8750% .25 points
Call for pricing on NO SCORE and NO COST streamline refinances
VA Streamline mortgage Rates
5% .5 point
5.000% NO POINTS
FHA JUMBO mortgage rates (up to $729,000)
5% .35 points
5.125% NO POINTS
FHA JUMBO STREAMLINE mortgage (Up to $729,000)
5.00% .125 point
5.375% NO POINTS $2500 closing cost credit
Contact Josh Burley today to lock your rate
301.881.8900 x125
Apply online now! @ www.choicefinance.net/apply
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Want to make sure you are getting the best interest rate? compare my interest rates to Quicken Loans, Bank of America, Wells Fargo, SunTrust, ditech, Citimortgage, Navy Federal Credit Union . You will see that my rates are 2nd to none. Work with a LOCAL MORTGAGE LENDER that is committed to giving you the best rate & service!
Josh Burley
Sr. Loan Officer
Choice Finance Corp.
www.joshburley.net
www.choicefinance.net
301.881.8900 x125
No Closing Cost refinances are back!
Back in April I wrote a blog about No Closing cost mortgages actually being more costly than a zero point or 1 point mortgage. This was due to the small spread between rates. As the market has become healthier over the past 5 months, spreads have widened. This has made NO CLOSING COST refinances an attractive option once again. Let's take a look based on today's mortgage rates.
I am going to assume good credit, a $300,000 loan and 70% loan to value and $2800 in closing cost:
NO POINTS 4.875% = $1587 monthly principle and interest payment
NO CLOSING COSTS REFINANCE 5.125% = $1633 monthly principle and interest payment
To figure out which option is better for you, you must calculate the time it would take to recover the cost at the lower interest rate. The difference in payments is $46 per month. Take the cost and divide by the savings to calculate how many months it will take to recover your cost
2800/46 = 60
It would take 60 months to incur enough savings at the lower interest rate to offset the cost. In this scenario, I would recommend the NO COST refinance option.
I use the following as a general rule of thumb when deciding when to pay cost and when not to:
If you will recover your cost in :
Keep in mind that every loan is different. Every one of my clients has individual needs. I take the time to go over every option to help you make the decision that is right for you.
If you fall into the group that believes that they will sell or refinance within the next 5 years, you should give 5/1 ARM's a good long look. Today it is possible to obtain a 5/1 ARM as low as 3.5%. That is not a typo. You can even obtain a no cost 5/1 ARM around 4.5%.
While shopping for your loan, I cannot stress more to seek out a full time mortgage professional that is interested in helping you and not just selling you. You can check rates daily at www.joshburley.net . Contact me today for a no obligation mortgage analysis. I offer No closing cost refinances in Maryland, Virginia and Washington DC
For updated USDA, FHA , VA, Conventional and Jumbo mortgage rates go to www.joshburley.net .
Want to make sure you are getting the best interest rate? compare my interest rates to Quicken Loans, Bank of America, Wells Fargo, SunTrust, ditech, Citimortgage, Navy Federal Credit Union . You will see that my rates are 2nd to none. Work with a LOCAL MORTGAGE LENDER that is committed to giving you the best rate & service!
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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