Q: I have been waiting for refinance my $550,000.00 loan that is currently at 3.75%. I keep seeing lower rates advertised but they do not apply to loans over $510,400.00. When will these “high balance” conforming loans offer lower rates? What are my current options? What if I paid my loan down to $510,400.00?

A: YES! GOOD NEWS! Mortgage rates have finally taken the INTEREST RATE DROP YOU HAVE BEEN WAITING FOR!!! I can now offer you 3.375% with NO BOROWER PAID COSTS AND LOWER WITH A SMALL COSTS ON YOUR $550,000.00 REFINANCE! This rate with no borrower paid costs applies to loan amounts up to $766,500.00! FYI: with all “no cost” loans some restrictions can apply based on loan to value ratio and credit scores, but most borrowers and homes in Santa Cruz will qualify for this “high balance” “super conforming” no cost refinance on loan amounts from $510,400.00 to $766,500.00 at 3.375% (3.375% a.p.r.).

NEWS FLASH: SOME HIGHER LOAN AMOUNTS IN THE “HIGH BALANCE” CATEGORY CAN GET AND EXTRA 1/8TH LOWER IN RATE! Interest rates on NO COST loans, as I said above, can vary based on individual circumstances, so I advise anyone interested in refinancing in a NO COST loan or in loans with EVEN LOWER RATES to call me at 831-818-7700 or send email to jchubb1@gmail.com.

MORE GOOD NEWS: Interest rates on loans under $510,400.00 HAVE ALSO DROPPED!!! . Loans with no borrower paid closing costs on loans under $510,400.00 are LOWER than the loans over $510,400.00 

 If you buy your loan down to $510,400.00 you can get a rate as low as 3.25%  (3.25% a.p.r.) And maybe a bit lower if rates continue the present slide!!!! Call me for real time rates, strategy and reliable information! 

More good news: JUMBO LOAN rates over $766,500.00 are lower too!