current mortgage interest rate quote for refinance or purchase.
offering a low rate mortgage rate quote in maryland md
low interest rate mortgage quote in maryland md
Mortgage Rate Quote in Maryland
 
WE STROGLY RECCOMMEND THAT YOU READ THIS.
IT IS VERY IMPORTANT FOR YOU TO UNDERSTAND
HOW MORTGAGE RATE QUOTES WORK!
If this seems confusing, call me, I will be happy to discuss it with you.410-643-0222   888-643-3659

Effective January 1, 2008
We Have Decided To Stop Posting
Mortgage Rate Quotes On The Web Site And Here Is Why:

If you owe more than 70% of what your home is worth, 
or if you will have a combo or any form of second mortgage, read on... 

Fannie Mae/ Freddie Mac has instituted "Risk Based Pricing"*,
in Addition to other Pricing* "Add Ons*. 
(Fannie Mae & Freddie Mac Typically offer the Lowest Rates in the Market,
But DO NOT offer loans directly to the Consumer). 

*Pricing affects the points 
which in turn may affect the rates
(Maryland Mortgage Rate Quotes).
The following are RISK-BASED adjustments that apply to 
all programs unless specifically excluded below:
For LTV's greater than 70% with credit scores listed below
(*some programms are excluded
*we will determine if they are excluded when we discuss your situation and goals):

Fannie Mae / Freddie Mac
MIDDLE CREDIT SCORE LOAN LEVEL PRICE ADJUSTMENT (IN POINTS)
Also Known as "Fico" Score 
Below 620 2.000 
620-639 1.750
640-659 1.250
660-679 0.750
For all loans with subordinate financing (second mortgages, home equity lines of credit, etc.),the following price adjustments will apply in POINTS:
(This will affect the quoted interest rate)
LTV Range CLTV Range
Non Interest-Only 
Interest-Only
Fico < 720
Fico >= 720
 Fico < 720
 Fico >= 720
65.01-75%
90.01-95%
.25
.25
.5
.25
75.01-95%
90.01-95%
.25
.25
.5
.25
75.01-90%
 75.01-90%
.25
.0
.5
.25
LTV = Loan to Value Ratio.  Mortgage divided by Value
CLTV = Combined Loan to Value Ratio. All Mortgages divided by  Value.
Bottom Line, until ANY mortgage company knows the actual MIDDLE CREDIT SCORE, and the actual  VALUE, it is IMPOSSIBLE to quote a real valid interest rate quote if your LTV is above 70%, in Maryland or anywhere.

HOWEVER, we can quote a rate based on the information you provide, such as a guess on Credit Scores, and estimated Value. 
*Typical Add Ons are listed below and may or may not apply to you.
Cash-Out 70.01-80% LTV: add .50
Cash-Out >80% LTV: add .75
2u, 75.01-95% LTV: +.50
Loans < $110K: add .125
Loans < $50K: add 2.0
Flex/Alt 97% (35% MI): add .75
Flex/Alt 97% (18% MI): add 1.75
Flex 100% (25% MI): add 1.50
Flex/Alt 100% (35% MI):+ 1.0
My Community (MCM): add 2.75
Home Possible: add 2.75
LTV <= 80% & CLTV > 95% with:
Fico < 680: add 1.50
Fico >= 680: add 1.0
30Yr Buydown: + 2.375
No impounds: add .25
EA1: add 3.875 
EA1 w/ CLTV > 95%: add 1.50
I/O 30 yr: + 1.25 (10 Yr I/O period)
Investment Prop. Adds :
50.01-75% LTV: add 1.00
75.01-80% LTV: add 1.75
80.01-90% LTV: add 2.25
Mfr Home: Not allowed
HUD Foreclosures:  Allowed Case by Case
These above are in addition to the add ons for Risk Based Pricing and LTV / CLTV price adjustments which are listed above. 
LTV = Loan to Value Ratio.  Mortgage divided by Value
CLTV = Combined Loan to Value Ratio.  All Mortgages divided by  Value.
As you can see, there are many questions to be answered and discussed when you call for an interest rate quote in Maryland. 

Please Call My Home Office or Send Email and I will contact you.

410-643-0222   888-643-3659
Return Home or send e-mail

Thank You!

PLEASE CALL MY OFFICE
I WILL DO MY BEST TO BEAT
ANY RATE AND POINT QUOTE

A.P.R. 's will vary based on loan amount, loan term, middle credit score,  loan to value ratio, and other factors including but not limited to those listed ablove.

RATES AND GUIDELINES ARE SUBJECT TO CHANGE WITHOUT NOTICE

We are experiencing a volatile market, 
it is not unusual for rates to change 
more than once (up or down) during each day...

Please call the office to confirm rate availability
 410-643-0222   888-643-3659
Return Home or send e-mail


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