Temporary Jumbo Mortgage or Blended Rate Mortgage?

[renriq02]

I'm sure you know as a loan officer that RESPA/TILA REG Z requires APR.

No point in posting rates as any loan officer can do that.
Charging points in the front is another story.
Then credit score tiers also fall in. It may also be a streamline...or may only be up to 362k

Originally Posted by ajpacino

and yes the #'s with ( ) is how much the bank pays your loan officer to give you that rate 6,375 pays me .181 of the loan amout, but if I give you a 6.75% I get paid 1.354% of the loan amount, just spreading the knowledge and if you have any other questions please pm me

[ajpacino]

actually you only have to quote apr when an app is taken and what difference does that make any way, And if you did not notice the topic of the thread is WHAT IS THE % FOR FHA 30YR FIXED MTG TODAY, and so you know all up front points are a charge of the loan officer of the co. your ysp, buy down points, and you orignation points are all different. your 362k is a weid # what is that, fha has recently raised there conventional loan limitts not sure if that is what you are refering to, and there different for every county, and as far as a streamline, is only done on a refi, no a purchase, a streamline is rate and term refi no cash out, with low cost, just spreading the knowledge

[renriq02]

anytime a rate is being advertised the apr needs to go with it.
Nothing wrong with advertising rates....you just need to do it correctly or will you pay hefty fines. Repeated abuse may have your company's license revoked.


I have been doing FHA for quite a while now, and I'm not sure how long you have been doing it.

In Charlotte the new limits are approx 303k. In FL they're a lot higher.
Most of the lenders are giving the same rate w/out jumbo hits at 362k.
Anything over it will be subject to a jumbo hit.

Every loan officer charges differently, and this is why a mortgage company must post the APR with the note rate. This is clearly a solicitation not 'spreading the knowledge'. 'Spreading the knowledge' will not include 'pm me or message me'

Originally Posted by ajpacino

actually you only have to quote apr when an app is taken and what difference does that make any way, And if you did not notice the topic of the thread is WHAT IS THE % FOR FHA 30YR FIXED MTG TODAY, and so you know all up front points are a charge of the loan officer of the co. your ysp, buy down points, and you orignation points are all different. your 362k is a weid # what is that, fha has recently raised there conventional loan limitts not sure if that is what you are refering to, and there different for every county, and as far as a streamline, is only done on a refi, no a purchase, a streamline is rate and term refi no cash out, with low cost, just spreading the knowledge

[ajpacino]

pming if available for a private message one that someone might not want to ask in front of everyone, I was not advertising rates it was asked what todays rates are so I said , ane you are way off base with you APR issue I would read up on your profession, and to awncer you question Ive been doing fha loan for 4 yrs now and lwt me tell you someting today things are a complete 180 from where they were 4yrs ago so expierencs does not have much to do with it. And most co. are not treating these over old limit loans the same. alot dont know what to do with them yet and are pricing them as jumos, something new every day , so good luck to ya,

[YSP]

Any of the 1st 2 you don t want the option unless you plan to move soon or flip it