September 7th, 2017 11:36 PM by Eric Fang
One borrower asked whether I can get 2.875% for 5/1 ARM or 7/1 ARM, I replied that I could only do these rates for the purchase. ARM rate is different from fixed rates. Since Fed increased the rate a few times, it is almost impossible to get history low rates, unless Fed lowers the rate in the future.
I am very fortunate of being a loan agent. The past week, one buyer told me about retirement communities with reasonable prices in LA area. And sometimes ago, some borrowers plan to purchase some hot Denver, Oregon, Vancouver(WA) areas as well.
And yes, we can do senior community loans. The rate is the same as primary home as long as you can qualify.