Astute Mortgage, LLC
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Homeowner? First Time Home Buyer?

Wednesday, October 28, 2009

12:30:04 PM

Index Values:

  • 6 month LIBOR 1.164%
  • 1 Year LIBOR 1.696% 
  • Prime Rate: 3.25%

Conforming FNMA Products

  • 30yr Fixed: 5.375%   Annual Percantage Rate: 5.645%
  • 20 yr Fixed: 5.25% Annual Percentage Rate 5.375 
  • 15yr Fixed: 4.857%  Annual Percentage Rate 5.875%
  • 10yr Fixed: 4.875% Annual Percentage Rate 5.950%

*Credit Repair Consultants

*Mortgage Modification Consultants

*Debt Settlement Consultants



Now offering FNMA Expanded Approval again!

Facing Foreclosure?Now offering Mortgage Modification services

Have too much Debt!? We offer Debt Settlement Services , also!

Can't get approved? Our profession of lawyers will help raise your scores!

Tune into blogtalkradio.com/Troy-Brown for the weekly on line radio show!

You are encouraged to inquire within!

*All rates subject to change daily, according to market conditions

 
1. How do I know how much house I can afford? Answer
2. How does my credit profile actually effect the loan I pre-qualify for? Answer
3. What is the difference between a fixed-rate loan and an adjustable-rate loan? Answer
4. How is an index and margin used in an ARM? Answer
5. How do I know which type of mortgage is best for me? Answer
6. What does my mortgage payment include? Answer
7. How much cash will I need to purchase a home? Answer

Q : How do I know how much house I can afford?
A : Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.
 
Q : How does my credit profile actually effect the loan I pre-qualify for?
A : Many consumers may see a mortgage company's lowest rate and asume they will qualify for that rate when in actuality the lender bases qualification on your credit scores which are rated by how past and credit obligations were/are paid.
 
Q : What is the difference between a fixed-rate loan and an adjustable-rate loan?
A : With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.
 
Q : How is an index and margin used in an ARM?
A : An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).
 
Q : How do I know which type of mortgage is best for me?
A : There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Astute Mortgage can help you evaluate your choices and help you make the most appropriate decision.
 
Q : What does my mortgage payment include?
A : For most homeowners, the monthly mortgage payments include three separate parts:
  • Principal: Repayment on the amount borrowed
  • Interest: Payment to the lender for the amount borrowed
  • Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.
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    Q : How much cash will I need to purchase a home?
    A : The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply:
  • Earnest Money: The deposit that is supplied when you make an offer on the house
  • Down Payment: A percentage of the cost of the home that is due at settlement
  • Closing Costs: Costs associated with processing paperwork to purchase or refinance a house
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    Astute Mortgage,LLC

    Ph: 267-205-4605
    Privacy Policy

    Present or Prospective Business Owner or investor?

    • Specializing in hard money lending! (can't prove your income?)

     

    • No out of pocket money for rehab loans( must be non-owner occupied)

    Specializing in Commercial Lending that makes sense.

    • No FICO Score program available.
    • Loans to $100k - $5 mil
    • No Seasoning Requirements.
    • Stated Income/Stated Assets programs 
    • Full document programs.

     

    Fixed Rates available!!

    Loan programs for Corporations, Partnerships, LLCs and Individual.

    Blanket Loans, OK

    Eligible Properties:

    • Mobile Homes
    • Industrial
    • Auto repair shop
    • Restaraunts
    • Bars
    • Delis
    • Multi- Family
    • Mixed Use
    • Apartments buildings
    • Retail
    • Mall Strip
    • Golf courses

    We do it all!

    • Interest Only options available, also!!
    •  No Tax Return or 4506

     

     

    * Licensed by the PA Department of Banking