The Bond market had a volatile week leaving us with rates that worsened
from last week. Realtime Mortgage rates are like a monster moving through New York, you never know where it’s going to turn. However, here’s a snapshot for today.
Conventional
- 10% down required
- 30 Year fixed
- Rate* 5.125%
FHA
- 3.5% DOWN min 620 fico
- 30 Year fixed
- Rate* 5.00%
U.S.D.A Rural loan
- 30 Year – 0% Down NO PMI
- Rate* 5.500%
VA
- 30 Year – 0% Down
- Rate* 5.125%
“HomePath “Fanniemae’s REO program:
- 3% Down primary- 10% Down investor
- 30 yr fixed
- Rate * 5.500%
In my Million Dollar Rolodex, I have a special partnership with a bank that allows my “professional clients” to purchase homes with no down payment or private mortgage insurance. But here’s the deal, the question is not, “Are mortgage rates going up” — The question should be……
What Do They Consider “Professional Clients?”
According to Drew, my contact, only a select few are eligible for this deal. Here are the occupations that qualify for the special program and rates that most banks and lenders have stopped doing:
- Resident or Practicing Physicians
- Attorneys
- Oral Surgeons
- Partners in accounting firms
- CEOs, CFOs, CIOs, CO Os or Chairmen of publicly traded companies
- Executives in direct report to the CEO or Chairmen of publicly traded companies
Let me know if you would like to connect with Drew’s team.
Do or Don’t…There is no try,
Kendall Matthews, vp of The Hard Truth
