Refinance Loan - 5 Year Fixed Jumbo (Bad Credit) Refinance - February 3, 2007

Getsmart - This firm offers you quotes for a Refinance. It is a service of Lending Tree. You should be able to learn more about your loan options.

 

Mortgage Basic Profile

This mortgage scenario is for February 3, 2007.

The borrower's name is Kenneth.

This borrower wants to refinance the mortgage.


Property Summary

This real estate property is a single family residence.

The mortgage will take place in Berkeley, California.

This property type is a primary residence.


The Loan Type

This borrower's loan term in years is 30.

This borrower has a current middle credit score of 735.

The loan will have stated documentation.


Today's mortgage rates

The mortgage rate on this new loan will be 6.38%.

The annual percentage rate is 6.47%.


The Mortgage Size

This real estate is currently worth $390,000.

The current loan on the property is a $249,600.

The total amount of cash received is approximately $62,400.

The new total loan size is $312,000.

The loan to property value (LTV) ratio is 80%.


Monthly Loan Payment

The monthly mortgage payment on this is $1,946.

The monthly payment on an interest only mortgage would be $1,658.

This is lower than a regular monthly payment by $289. 


Articles:

http://www.archerpacific.com/mortgage_loan_co-borrowers.htm