MORTGAGE MARKET OVERVIEW
Welcome Back! We hope you enjoyed your Labor Day holiday. As we try to put the summer blues and last week’s oppressive heat behind us, let’s refocus on our personal financial matters. Mortgage rates are back to near historic lows. If you’re paying 4% or more on any owner-occupied loan, take advantage of current rates as they have fallen into the 3’s. Contact us today and send your latest mortgage statements. We can strategize on preparing a personalized refi program that matches your needs and any potential future acquisitions.
SOME IMPORTANT TAKEAWAYS FROM THE CURRENT MARKET
SIGNIFICANT SAVINGS BY TAKING YEARS OFF INTEREST PAYMENTS– Call us to find out how you can take advantage of the shorter amortization terms.
UTILIZE THESE LOW INTEREST RATES– Discover how you can benefit from transforming a fixed rate into an ARM. These can be interest only.
IT’S AN EXCELLENT TIME TO RE POSITION DEBT– Do you have student loans or other mortgages with high interest rates? Because interest rates are low, call us to learn how you can re position your debt to decrease your monthly payments.
AGGRESSIVE RATES AND SPECIAL OPPORTUNITIES
ATTENTION RESIDENTIAL RENTAL PROPERTY OWNERS: Maximize the cash flow from your investment by lowering your monthly mortgage payment. Loans up to $2.5 M. 5 Year Fixed. Interest only option available. Cash out- OK.
CALLING ALL MULTI-FAMILY INVESTORS: We have a large bank seeking apartment loans in the $3 M- $15 M range. 10 year fixed. 30 year amortization at 3.625%. Even if your other loans have prepayment penalties, take the risk out of the equation and lock in this excellent rate.
IMPORTANT ANNOUNCEMENT FOR SOON TO BE RETIRED CLIENTS: Use your IRA retirement account to qualify in lieu of income. Please note: No pledging of assets is required in any way.
RELEVANT MESSAGE FOR SELF-EMPLOYED CLIENTS: We’ll strategize with you on how to acquire property downstream. Our 1 year tax return program is very popular.
~~~INTRODUCING OUR TWO NEW PROGRAMS~~~
CENTEK KEYS TO CLOSING DEALS
CenTek works with you throughout the financial process, guiding clients through mortgages and more. Unlike direct lenders who only represent the bank, we work with a variety of wholesale banks and specialized lending institutions to package the loan to highlight strengths and minimize any issues. Contact us today and we will work with you to fine tune a game plan.
HOW WE STRENGTHEN AN OFFER TO ITS FULLEST POTENTIAL: We follow trends and policy changes in the lending arenas to help our clients prevail with their offer. We carefully organize each loan package so that you can be prepared to waive contingencies, when appropriate, and compete with all-cash offers.
CENTEK MILLENNIAL SOLUTIONS
Despite stricter lending regulation since the housing bubble burst, there is an easing of policies with more flexible guidelines, especially in regards to down payment and credit score. Although some Millennials may not have the funds necessary for a full down payment by themselves, there are many other options for friends or family to help their millennial prevail with their offer.
CREATIVE LOAN STRUCTURING STRATEGIES INCLUDE: New credit formulas, Non-Occupant Co-Borrower concepts, higher DTI ratios, gifting, and realistic “hacks” to reposition a Millennial’s credit score. Call us today to find out more!
Stay tuned for more updates on our CenTek Blog. Looking forward to hearing from you soon!
Gloria, Curtis, and the all of the CenTek Team