Outer Banks Loan Rate Update from Beach Mortgage
Published April 7, 2008 by Bernie TrevillianRates continue to be volatile and move almost daily. In addition, the above rates can now be affected to the negative for all borrowers whose credit scores are below 720. As you can tell the mortgage industry continues to change almost weekly.
One of our more popular loan programs right now is the 95% to 90% NO PMI loans. They are eligible for all primary and second homes with loan amounts of $417,00 or less. The rates are usually only .250% to .375% above current rates. This is much cheaper than PMI rates and also easier than having to obtain a second loan to bypass PMI insurance.
Another footnote that is important to mention is that Beach Mortgage still does lot loans and still has financing available on both houses and lots in the 4-wheel drive area.
Thanks and Good selling!!!
Bernie
BEACH MORTGAGE CO., INC
LOAN OFFICERS:
BOB KRAINIAK
BERNIE TREVILLIAN
RANDI EURE
JOY WHITE
NATALIE DUTT
RICK FOWLER
*****************Current Offerings as of April 7, 2008*****************
(Rate subject to change)
NEVER AN APPLICATION FEE
SUPER JUMBO ARMS
3/1 Program 5/1 Program
Interest Only
61/2+0 65/8+0
63/8+.50 63/8+.50
61/4+1 61/8+1
95% Primary Homes
80% Secondary Homes $650,000 - $1 Million
(Please Call for Quote)
Lot Loans
90% LTV (80% LTV off-road)
Interest Only Loans
No Loan Limits
48 Hour Approval
1 Total Point ($600.00 Minimum)
1 Yr, 3 Yr, 5 Yr., Balloons also available
(Please call for Quotes)
(Good in Four Wheel Drive Territory)
Jumbo Loans
30 Year: 15 Year:
7+0 61/2+0
67/8+.50 63/8+.50
63/+1 61/4+1
*Available on Primary & Secondary Homes
** Call for LTVs
Construction / Permanent Loans
Interest Only Payments
Quick Closings
Extended Rate Lock with Float Down
* Call for more details
ARM Loans
3/1 ARM: 5/1 ARM: 7/1 ARM:
53/4+0 65/8+0 63/8+0
51/4+1 6+1 6+1
Primary and Second Homes to 417,000
**** Call for Quotes on Jumbo ARMS****
Investor Loans*
Fixed Rates/Arms
90% to 650,000
80% to 1,000,000
70% LTV up to 1,500,000
* Call for current rates
Conforming Loans*
30 Year: 15 Year:
57/8+0 53/8+0
53/4+.50 51/4+.50
55/8+1 51/8+1
95% Primary Homes to $417,000
95% Second Homes to $417,000
***VA loan Rate- 53/4+ 0 + 0 30 yr fixed***
*20 Year & 10 Year Loans Available*
Additional Programs
100% Primary Home Buyers
NO Doc/ Low Doc Loans
80/20 No PMI Loans
Pay Option Arms- 1% Rate
95% Second Homes!!!!!!!
CALL TODAY FOR MORE DETAILS
** ALL QUOTES ABOVE INCLUDE ORIGINATION FEE**
RESORT MORTGAGE SPECIALIST FOR
COASTAL CAROLINA
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