Financial Update by Maurice Soussé

Interest rates continue to hold steady this week. As better industrial production and new home construction sectors improve, declining energy sectors and retail sales hold the lower rates in place. In addition, China lowered interest rates this past week with an additional promise of lower rates from Margio Draghi, the President of the European Central Bank. These forces are helping to keep our current mortgage rates low.

I’ll remind you of the great new program we have in place for a first and second combination. I sent this last week, but, it is such a great program I want to make sure you have it in hand again.

$972,000 Sales price:

  • $625,500 First Trust deed at 3.99% $2982
  • $250,000 2nd Trust deed at 5.5% $1419
  • Total Payment $4401 per month.

Looking at this, remember, there is NO PMI on this loan, the price is $973,000 on the house and the second mortgage is FIXED RATE for 30 years. We can also lend with that same scenario with only 15% as the down payment on a second home. This program is incredible.