Archive for June 2nd, 2011
Summer Savings
We asked one of our friends in lending to give us the sizzling summer deals. Here’s an option for option for safely getting more home for less from Barry Zanck. “I give away money” is my common reply when queried about my profession. Well, there is of course a hitch being that we take your house as collateral and, if you don’t pay us back..… Okay, my favorite loan program is a 10/1 adjustable rate mortgage that has a fixed rate for the first ten years. The advantage? Almost 1.5% below the 30 year fixed rate and still a Fannie/Freddie loan with no prepayment penalty. Since the average loan is kept only 4.3 years and you are allowed to prepay all the principle you want, this loan can offer some real interest rate savings. For example at $400,000 30 year fixed at 4.5 % (4.622%APR) has a 30 year payment of $2026.74. A 10/1ARM has a 10 year set payment of $1740.83 3.25% (3.421%APR) for a savings of $285.91 monthly! Now, throw just a little more than half that savings into principle reduction and you 10 year loan can be a 15 year fully paid off loan!
Call me, I have other ideas that work just as well.
Barry E. Zanck
Americap Direct Funding
DRE Brk #01082108 NMLS #243592
(949)910-4445
Owning Laguna Hills Real Estate May Take Some Creativity
“As Orange County realtors with specialization in Laguna properties, the Weeks team has been successful at helping folks just like yourself actualize your dreams and own a piece of Laguna Hills real estate. It is always recommended that you consult a financial advisor when it comes to a large purchase, but don’t be surprised if you find out that you may qualify as a candidate to own Laguna Hills real estate!” – “Laguna Hills Real Estate – Creative and Savvy Ways to Own”, OC METRO.
Though many people don’t see themselves as potential homeowners, most people with somewhat decent credit just need to think outside the box a little to get into a home. Whether its sharing payments with roommates, using another property as leverge, or having a family member co-sign, it may take creativity to get that Laguna Hills real estate you’ve always wanted. Find out what some creaive homeowners did to afford their Laguna Hills real estate!
Click here to read the full article, entitled, “Laguna Hills Real Estate – Creative and Savvy Ways to Own”.
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Orange County Real Estate Success 