Mortgage Blog

Happy Chiniese New Year.

I just locked one loan for 5/1 ARM 3%
for the loan amount $500k. Borrower
has the rate of 2.875% for 2.5 years with
2.5 years left on the program, and he decided
to get a little bit higher rate with the rate
extended for another 5 years(much safer this way).

And quoted another 7/1 ARM rental cash-out
refi for the loan amount 310k, the rate was
4.125% for no closing cost at all. Not bad either.