Our portfolio true jumbo mortgage rates dropped on some programs, and held steady on others this week in Virginia.
Despite the Fannie Mae High Balance Loan Program being introduced, loan limits have remained at $417,000 for Fannie Mae loans in much of Virginia. The Fannie Mae HBLP are also has some hits to pricing which are prohibitive, particularly to those looking to simply consolidate debt. Our program allows for loans up to $1,500,000, subject to qualification and loan to value restrictions.*
Our true jumbo loan programs, called our Portfolio Program, allows for higher loan balances at extremely competitive terms!
Currently we have the following Jumbo Rates with 0 points as of business close on 4/10/09**:
Call Michael Byrne at 908 531 6170 or 800-999-2489 x7972 for current rates.
30 Year Fixed call for personalized quote.
5/1 ARM, 7/1 ARM, and 10/1 ARMS are available: Call Michael Byrne for quotes on these and all products.
Typical minimum FICO scores of 680/700. Full Doc loans only. Subject to verification of post closing assets and full underwriting.*
Currently with loan to values of up to 75% on purchase money/rate term refinances to $750,000, 70% on purchase money/rate term refinances up to $1,000,000, 65% Financing to $1,250,000, and 60% to 1,500,000.
We also offer competitive pricing on FHA, VA and Conventional Loans in Virginia, as well USDA loans in qualified areas. We underwrite and fund these loans in-house.
Michael Byrne
908 531 6170 Cell
* Guidelines subject to change without notice and subject to final investor underwriting **Price adjustments for cash-out loans over a 70% LTV .25pt. Other restrictions apply.
Gateway Funding Diversified Mortgage Services, L.P. is licensed by the PA Department of Banking as a first mortgage banker and licensed pursuant to the PA Secondary Mortgage Loan Act; Arkansas Mortgage Company License; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; DC Mortgage Lender and Broker; a Georgia Residential Mortgage Licensee (#15499); Illinois Residential Mortgage Licensee; Kansas licensed Mortgage Company; Massachusetts Mortgage Lender and Broker (#MC-3052); Licensed by the New Hampshire Banking Department (#10192-MBB); Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker NYS Banking Department; a Mortgage Lender and Broker in Rhode Island; Gateway Funding is also authorized or exempt as a mortgage banker in AL, CO, CT, DE, FL, IN, IA, ME, MD MI, MN, MO, MT, NE, NV, NM, NC, OH, OK, OR, SC, TN, TX, UT, VT, VA, WV, and WI. This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA or any other more applicable federal, state or local law or regulation, Rates, Terms, Fees and Equity requirements are subject to change without notice. For qualified borrowers only. Equal Housing Lender. © 2009 Gateway Funding Diversified Mortgage Services, L.P.
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Michael Byrne
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