Lowest Mortgage Rates in North Carolina

Please call if you need a Client pre-qualified or just compare our rates and fees to their present provider. 

 If you choose my service this is what you get: 

 Are you one of those workaholic Realtors that love their job?

Unbeatable Rates and Fees even compared to the bank (makes your Clients feel confident about you because you directed them to me)

Unparalleled execution on my part with the loan process (makes you and your clients feel confident because they know something is happening every day)

Good communication (sense of understanding with you and your Clients about how the process is moving)

HUD’s days in advance (makes you and your Clients feel confident that you don’t have to look at a HUD an hour before closing…)

No Surprises at the Closing table (Your Clients know at this point that you are the consummate professional)

Loan Officer will be present at your closing to answer any questions.  (I only talk when I am asked a question, this closing is about you the REALTOR) 

What does this mean to you? 

More referrals

More residual business from existing Client base

Sense of Calm during this high pressure responsibility on your part

More money to operate and grow your business

Happier Life

 Please call me if I can help.

704-257-0420  Office e-mail: John@cfscarolinas.com

704736-4661 Fax

  John Noto  Creative Financial Services

 

 

 

Mortgage Basics 101 (Scores) 1 of a 5 part series

 

Understanding what a FICO score is and how it affects your rate and monthly payment is very important and I will try to explain what a good score is and what rate you can expect.

 

When you applied for a mortgage, you were probably asked, “What is your FICO score?”, most people don’t know or don’t understand how scores play into mortgage lending practices.   Below is a standard chart on what you can expect in regard to scores and rates.

 

 

The higher your FICO score, the lower your payments! *

See for yourself. Interest rates accurate as of May 7, 2007:

·                                 30 Yr fixed mortgage

·                                 15 Yr home equity loan

·                                 36 month auto loan

FICO score	APR [?]	Monthly payment *
760-850	5.860%	$1,772
700-759	6.082%	$1,814
660-699	6.366%	$1,870
620-659	7.176%	$2,031
580-619	8.820%	$2,375
500-579	9.679%	$2,562

Location National Avg.AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyomingLoan amount * Estimated average over the life of the loan. Payments may vary. Y30FConfCombMtg|Y15FHE|M36NAuto| Y30FConfCombMtg

 

The next chart shows how your score is made up:

·                     FICO scores are your credit rating

·                     They range from 300-850, higher is better

·                     Most lenders base approval on them

·                     Higher scores mean lower interest rates

·                    

·                     FICO scores are calculated based on your rating in five general categories:

Now that we know how we get scores and how they are applied to rates, we can better understand the lenders practices and expectations.

 

Why use a broker like me versus a bank?  Most banks have a limited number of loan products available for the Client.  They prefer that customers fit their programs. Banks don’t like to see anything like: Self Employed, Stated Incomes, No Income No Asset Loans, or anything outside the “normal” client. If you come into the Bank with these types of issues you will probably have to put a considerable amount of money down and pay a higher rate.   Banks are not geared to serve the client that does not fit the “Perfect Customer”.  Today the “Self Employed” is one of the fastest growing consumer segments in the country. Consumers need products available to meet their needs. The Broker can beat the bank’s rate and origination if you are a perfect customer. I will explain this in detail in another format.

 

In future issues I will explain how discount points and originations compare and discuss the best way to make sure you are not being over-charged. I : will also discuss

*  what documents are needed for the self employed Client

*  what they can expect during the loan process

*  what these commercials are saying about paying a $450.00 payment on a 150,000 dollar mortgage 

*  why the On-Line Mortgage Companies can hurt more than help. 

 

As a Broker I have a wide variety of loan products to fit almost everyone’s needs.  I will diligently search to find the product that best suits your individual needs.

 

When you call Creative Financial Services, I will be glad to walk you through the process and help you understand the needs and wants of the Lenders.  Give me an opportunity to assist you in choosing the best mortgage package for you.

 

Please visit my Website www.cfscarolinas.com.  You can pre-qualify over the internet on a secure site.  Stay tuned for future issues and see what is happening in our industry today and how it affects you. 

 

 

Please call John Noto: Office 704-257-0420    Fax 704-736-4661    Cell 704-746-4971

Creative Financial Services, 4317 Suite D, North Hwy 16, Denver, NC 28037

 

 

 

A quality Realtor can find a great home for first time home buyers,  Experienced Buyers or Investors and they will negotitate in your favor.

They work hard to fill your needs and wants.  They know the market and are experts in home buying.

 

Every great Realtor has a team of people that will help you secure the home of your dreams.  They work with Loan Originators, Appraisers, Attorney's, Home Inspectors, Home Warranty Companies and a host of other very imprtant people during the home buying process.

 

Don't buy a home without a REALTOR!

 

 

For a free Conultation or Pre-Qualification call:  John Noto  704-736-4660  www.cfscarolinas.com

 

Dear Consumer,

 

Below are the going rates that are obtainable at Creative Financial Services ,  www.cfscarolinas.com.

 

30 Year fixed  5.875% APR 6.034%

15 Year Fixed  5.5%  APR 5.773%

5/6 ARM Interest Only  6.375% APR 9.73

100% First time Home Buyers 6.375% w/MI  6.75 Lender Paid MI (best payment) APR 8.23%

Loans are based on 125,000 dollar sale price, 100,000 dollar loan 80 LTV. 

 

There are a host of other options. Creative Financial Services has over 15 Conforming Lenders and several other Alternative Lenders for special needs Clients.

 

Banks say they don't have points, they are just calling them discount points.  No cost loans are paid for by offering a higher rate. All of these options are easy to do but in the end Creative Financial Services has the best rate and closing costs around.

 

Call today or visit my websire and hit Pre-Qualification on the left side.  You won't be sorry  www.cfscarolinas.com

When you go to a local bank, the Loan originator is usually not well informed.  They don't have  products to serve the public and are not looking out for the clients best interest. 

Banks also hide their fees in a barage of paperwork like offering a discount point which means this is their origination fee.

They call it discount points because they are coming off a higher rate than they should be charging in the first place.

Example: They say they are charging 6.5% 30 yr fixed rate, then they give you a .90 discount points to a 6.0 rate.  They are charging you 1400.00 dollars origination.  They also hide the Private Mortgage Insurance (PMI) in their paperwork by giving you a yearly cost for PMI and they don't add it to the payment. section.  When you go to closing, your payment is 80.00 dollars to a 180.00 dollars more per month than they quoted. 

They also have limited programs to help out the first time home buyers. 95% Loan to value is the standard.  They don't even offer the 100% financing with lender paid PMI. 

 

They will turn you down if you have one consumer credit late payment.  Even if you have scores in the 700's.

 

I offer what they call PAR rates. Today the rate is 5.875% 30 year fixed.  There is no back end money on the rate, the bank doesn't want you to have this rate because it takes money out of their pocket.  They offer a 6.25% rate and they will be making approximately 1.25% of the loan amount. They are charging you a higher rate and making money on what we call in the industry the "back end". They make Brokers disclose the "back end" money but not the banks.  This is a deception to the public.   

These so called NO COST LOANS are higher rates and you are paying for the costs of the loan by charging you a higher rate. I can offer the same thing but over the life of the loan it is better to have your Realtor ask for closing costs, let the Seller pay for fees rather than paying for a higher rate for a 30 year period of time. 

Don't be misled, call me for the real information. Go to my website www.cfscarolinas.com go to prequalification on the left side, fill it out and I will call you shortly afterward to let you know what mortgage programs best fit your needs. 

 

Call John Noto   704-736-4660 OFFICE   704-736-4661  FAX  704-746-4971 Cell    www.cfscarolinas.com