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Ted Rood
Senior Originator,  Bayshore Mortgage
2333 Plum Grove Dr
O'Fallon,  Missouri  63368
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"I think the reason more folks don't do subordinate financing, Larry, is the Fannie/Freddie hit for properties with 2nd liens. As you know, those impact the pricing on first mortgage, just as going from a conforming loan size to high balance loan size does."    View Comment
"Hi Rate Watcher. The thing to remember about investment property and cash out refinance loans is that they have substantial pricing adjustments compared with owner occupied/non-cash out loans. It's highly doubtful that you could obtain 3.6% on JUST an investment property loan now without paying points, and adding the cash out adjustment could mean either more points or a higher rate. While it's been a few years since I wrote this and it's not exactly analogous to your scenario, here's..."    View Comment
"As stated, Ted, if your loan size is under the conforming limit ($510,400), and your property is owner occupied, current rate should be considerably lower than 3.625%. Even if it's a conforming high balance loan (available in certain high cost areas) rate should be lower. Jumbo pricing is now HIGHLY variable, a whole different situation altogether."    View Comment
"Hi Vogol. Can you please reach out to me at email listed on my profile? I'll connect you with a loan officer I know who does business in DC. Just click on my name to see email. Thanks!"    View Comment
"Hi Vogol, Yes, loans can be split into firsts/seconds, but there are substantial pricing adjustments for the first, so it's not a slam dunk decision. Let me run your question past a few folks, will advise when I have a good option for you!"    View Comment
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