No, to the interest only question. And the info by your first broker is correct; you should be able to get a interest loan rate between 4.5% and 5.5% timing is everything and rates change. It appears rates will be low for at least 6-9 months. We do FHA loans Statewide in Florida for major national lenders and local banks and will offer a free second opinion at no cost or obligation.
Go with him and get the deal done.
The truth is he can't. With pricing and policy changes you may be in the best mortgage you qualify to get at 6.5%. To be sure you can go to my website and get live rates 24/7. Let me know if you have any questions.
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704
Sometimes a traditional lender, and most especially a hard-money lender will not take the time to ask the kinds of probing, important questions which will help you to make the right decisions with your finances. I recommend that you try to get some good advice from someone you truly trust, someone who will take the time to ask important questions.
If you do not know someone you can trust, contact me and I would be happy to introduce you to someone!
My name is Leslie Kaye. I am a loan expert, I originate loans. I work with clients like yourself.
Every day the lenders are changing their guidelines. Some FHA lenders are either giving you
dings for a score of 587 or will not do a loan with a score under 620. I help my borrowers up
their credit scores to get the better rate. This is for purchases and refinances. Please do
not hesitate to ask me for help. It would be my pleasure to make sure you get the right
loan at the right rate, so you don't need to worry any longer. Please refer to my website.
Thank you, Leslie Kaye Atlantic Mortgage Loans, INC.
I would see if you can get you score up a little, if not you will be stuck in the high 6% range