Trying to refinance our loan, and I get this crap instead. Here it is for all to view, so you can learn . Read between the lines.
He is spamming me now and I think he is lying about the rate. It looks too high to me. Here it is, unedited and fresh from my e-mailbox:
Message 1: We can get you into a 5 yr Interest only with a 3 yr soft Pre-payment
penalty. Your rate will be higher than it would if you were to go with the
option arm. But I am more than happy to get whatever program you are
interested in.
So, I ask why a ppp is needed: answer below:
For the banks to make it worth it for them on these wholesales loan they
have different ppp. The good part for you is that with these types of loans
you get awesome rates and payments. They also give you soft ppp options.
They just don’t want you to refi in those 3years. And for most of my
clients that is not a problem because you will not find better
rate/payments. You are right that there are programs without ppp but with
those you either buy the ppp out or your rate is higher. I would love to go
over again with you why I love the option arm so much.
Let me know,
Thanks
I replied for him to send over a rate quote…
RE: RE: Investment Lending (update)
Here is a quote for the 5 year interest only fixed rate;
You would be looking at 6.875% 5 yr fixed IO. 3 yr soft ppp.
Payment would be close to what you are paying now. If you are to sell with a soft prepay there is no penalty. Even if it is
within the 1st year.
Option arm.
Year 1- $604.00 Worst Case Scenario
Year 2- $649.00 Up or down $45
Year 3- $697.00 Up or down $48
Deferred Interest $12,096
Homes Future Appreciation- For the banks to qualify you- $48,000 3 yr
scenario.
If you do not want to defer interest in any given month make the Interest
only Payment. But you will have the option to do so if that money is needed
for whatever reason. -end of message
The above segment is spam again,
Yucky!!! I am getting the creeps from this lender. Help!!!
I am glad I backed out of this “Deal!”
