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Investor Rate quote for Alex C on 11/16/2006

Factors that negatively affected the rate below were

  • Loan Documentation Type - "Loan Documentation not Full Doc"

  • Down Payment/Loan to Value - "Down Payment not 20% / LTV greater than 80%"

  • Lock Period - "Rate determined based on 30 day lock period"

  • Occupancy - "property is not borrowers primary residence"

  • Fixed vs ARM - "The longer fixed rate term the higher the rate"

  • Prepayment Penalty - "Reduced Prepayment Penalty Term results in higher rates"

  • Escrows - "If client doesn't want escrows rate will be higher"

  • Client Specific Needs - "This client had a specific risk factor that negatively affected rate. eg. over 4 properties, limited property seasoning, construction loan, rehab loan, other"

Value/Purchase Price: $250,000

Loan Amount:$250,000

Loan To Value: 100%

Property Type: SFR

Occupancy: Investor

Documentation Level: No Doc

Income Documentation: No doc

Asset Documentation: No Doc

Employment Documentation: No Doc

Mortgage/Rent Documentation: Full

Credit Score/Grade: 720

Fixed/Adjustable Program: 5 year fixed

Interest Only?: No

Pre Payment Penalty: Yes   

Debt to Income Ratio: Less than 45%

Mortgage Insurance: No

 

1st Mortgage Quote

 

Loan AmountInterest RatePayment

$187,500

7.875%

$1,359.70  plus taxes and insurance 

$

$ plus taxes and insurance 

 

 

 

 

2nd Mortgage Quote (If Applicable)

 

Loan AmountInterest RatePayment

 $62,500

16.125% plus $1,250 in lender points

$846.80

 $

 

 

 


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Author of this article is Danny Garcia, this and other articles related to real estate investing and real estate investing mortgage loans can be found at www.InvestorMortgage.org

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