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I am looking for the best rates on a 10/1 ARM in Orange County CA

What is the best rate without closing cost today? by julianspade386 from Laguna Hills, California. Jul 20th 2015 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

Much more info would be needed to properly answer your question.. Are you purchasing or refinancing? The rates are different.. What's the loan amount? Larger loans get better pricing, but if your above conforming loan limits and need a Jumbo loan, rates are higher.. What's your Loan to value? lower LTV's get better rates.. Credit score, income, type of income, debt ratios, property type.. etc, etc, etc.. You question is impossible to answer.. This I know for sure.. rates are still good.. and depending on your loan scenario, there are many options available to you.. I will say that a 10/1 ARM is usually more expensive than a 30 year fixed rate mortgage, so I"m not sure why you would want to go that way, but If your serious about looking at loan options, then you're going to have to do it the ole fashioned way.. pick up the phone and call a local mortgage broker.. once he sees your complete loan profile, he will be better equipped to answer your question.. any other way, and you're just setting yourself up for disappointment, because no loan officer with any integrity would ever quote you a rate without looking at your complete profile.. and anyone that does is probably someone you should avoid using.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jul 20th 2015
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Blake Kleckner (BlakeK)
#357 ranked lender in California - 251 contributions

That depends upon a few factors. Purchase or refinance? By no closing costs do you mean you want to pay $0 out-of-pocket for both the loan costs and non-loan costs? There is a difference.Do you pay your property taxes and homeowners insurance with your monthly payment, or pay your property taxes separately in November and February when they are due? If you don't, then you have an escrow account that needs to be funded, which is a non-loan cost. You will also have to pay interest to the old and new lenders, which are also non-loan costs. In addition, if your homeowners insurance is up for renewal soon, you may have to pay the premium for the year. Here again, this is non-loan cost. All of the other costs are considered loan costs. Consequently, there is much more to how much you can pay out-of-pocket than just the loan costs.The best interest rate also depends upon the loan amount, your home's loan-to-value ratio, and your FICO score. Without knowing these it is impossible to intelligently quote one.Most lenders do not offer 10/1 ARMs and if they do the interest rates are, normally, higher than their 10-year fixed rate loans. It is possible to get this loan with an interest rate as low as a 2.5% depending upon what portion of the loan costs and non-loan costs you are in a position to pay, taking all of the factors above into consideration.Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. If you get a chance, read some of my blogposts on Lender411. They are quite informative. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. I started doing mortgage loans in CA in 2006 and have an exceptional understanding of this extraordinary market. Representing more than 50 quality lenders that offer in excess of 1,000 loan programs, we definitely have something for everybody.

Jul 20th 2015
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To provide the best rates, I need your existing loan amt., FICO score and Est. Value and do you want cashout or rate and term. You may reach me at 415-837-3568

Jul 27th 2015
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