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4859 W Slauson Ave #405, Los Angeles, CA 90056 LMB Mortgage Services, Inc.
Must Be at least 18 years of age and a homeowner to qualify IMPORTANT DISCLOSURES: Sources:
https://www.cnbc.com/2019/07/31/fed-cuts-rates-by-a-quarter-point.html Lower My Bills is a
matching service that matches consumers to some of the top-rated refinance lenders. Quicken
Loans Ranked #1 for Customer Satisfcation:
#1 Online Lender Claim: *Quicken Loans is the #1 online lender based on the ranking of Quicken
Loans in comparison to online residential mortgage lenders included in the Inside Mortgage
Finance “Top 50 Mortgage Lenders” report from Q2 2017. Top-Rated Refinance by Consumers as
reported by JD Power:
*Video advertisements shown may be using 3rd party sites, apps and calculators to demonstrate
the savings possible.
The actual results will vary from consumer to consumer on many qualifying conditions.
**Consumers Should also be aware that savings shown in any form: visual or mentioned are no
guarantee but rather independent results or averages of consumers. 2019 © All Rights Reserved
FHA's nationwide forward mortgage limit "floor" and "ceiling" for a one-unit property in
Calendar Year 2019 are $314,827 and $726,525, respectively.
https://www.hud.gov/program_offices/housing/sfh/lender/origination/mortgage_limits A shorter
term mortgage enables such borrowers to pay down the amount they owe much faster than a
traditional 30-year mortgage. Furthermore, interest rates on shorter term mortgages usually are
less than on thirty-year mortgages. More information can be found at
https://www.quickenloans.com/mortgage-options/fixed-home-loans Two new refinance programs
replaced HARP (which expired December 31, 2018). The HARP replacement programs are called "High
LTV Refinance Option" (Fannie Mae) and the "Freddie Mac Enhanced Relief Refinance" or "FMERR".
http://www.freddiemac.com/singlefamily/enhanced_relief_refi.html "To encourage borrowers to make
the decision to rebuild equity in their homes, we are proposing that the legislation provide for
the GSEs and FHA to cover the closing costs of borrowers who chose this option - a benefit
averaging about $3,000 per homeowner.
To be eligible, a participant in either program must agree to refinance into a loan with a no
more than 20 year term with monthly payments roughly equal to those they make under their
current loan. For those who agree to these terms, the lender will receive payment for all
closing costs directly from the GSEs or the FHA, depending on the entity involved."
On a $200,000 loan, a homeowner in a 30 year fixed at 6.25% would end up paying the bank
$443,316. That same homeowner, if they switched to a 15 year fixed at today's rate of 3.58% APR
would own their home for only $250,779. On a $200,000 loan, a homeowner in a 30 year fixed at
6.25% would end up paying the bank $443,316. That same homeowner, if they switched to a 15 year
fixed at today's rate of 3.58% APR would own their home for only $250,779. Estimated monthly
payments, results, and savings calculated using prevailing market rates within the preceding 30
days. Additional conditions or eligibility requirements may apply. Trump eases lending rules:
state wide programs is not acting as a lender or broker.
The information provided by you to statewideprograms is not an application for a mortgage loan,
nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker
advertising within our network, your quoted rate may be higher depending on your property
location, credit score, loan-to-value ratio, debt-to-income ratio, and/or other factors.does not
offer its matching services in all states. This loan may not be available for all credit types,
and not all service providers in the network offer this or other products with interest-on Rate
Assumptions — Rates displayed are subject to change and assumes that you are buying or
refinancing an owner-occupied single family home, debt-to-income ratios of 35% or lower, asset
and reserve requirements are met, and your property has a loan-to-value of 80% or less. The
Annual Percentage Rate (APR) is based on the loan amount and may include up to 3 points. (Points
include any origination, discount and lender fees.) On adjustable-rate loans, interest rates are
subject to potential increases over the life of the loan, once the initial fixed-rate period
expires. Please contact one of our Licensed Lending Officers at (888) 983-3240 for a customized
rate and payment quote.
Adjustable Rate Mortgage: The initial payment on a 30-year $200,000 5-year adjustable rate loan
at 4.125% and 75.00% loan-to-value ratio (LTV) is $969.3 with 2.375 points due at closing. The
annual percentage rate (APR) is 5.059%. After the initial 5 years, the principal and interest
payment is $969.3. The fully indexed rate of 5.125% is in effect for the remaining 25 years and
can change once every year for the remaining life of the loan. Payment does not include taxes
and insurance premiums. The actual payment amount will be greater. Rate is variable and subject
to change after 5 years. 15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year
fixed-rate loan at 5.125% and 75.00% loan-to-value ratio (LTV) is $1594.65 with 0 points due at
closing. The annual percentage rate (APR) is 5.301%. Payment does not include taxes