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What best rate can someone get with excellent credit for a 400 K loan for 5/1 ARM.

with No down and No point and No Fee.
  • February 10 2010 - Milpitas
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Answers (10)

Thanks for sharing
  • February 12 2010
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I recently locked a loan for a client in WA state on a 5/1 Arm at 4% with $0 closing costs/ $0 out of pocket.  They have a 734 FICO and a 67% LTV. This is for a refi.

  • February 12 2010
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a lot needs to answered on your question.  So many factors can go into getting a quote on a rate.  What is the value of the home currently.  Also what type of loan are you looking for conventional, FHA or is it a cash out loan.  If you can reply back to these few questions that would help out tons with giving you a good idea.
  • February 12 2010
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RD will not work on a 400K loan.  The household income caps will prevent that
  • February 12 2010
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USDA RURAL Website --Depending on where you want to live, you can still get 102% LTV with a USDA Rural Home Mortgage.
  • February 10 2010
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<60 LTV, >700 FICO, owner-occupied, single family, 3.875 to 4.000 for a "no fee" loan where lender/broker pays all cost with closing cost credit.

I assume most would want you to pay your appraisal out of pocket, and then credit you back at closing.
  • February 10 2010
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How much equity do you have?
  • February 10 2010
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I should have mentioned on a Refi, not a new loan.
  • February 10 2010
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0% Down + 0% Point's + 0 Fees = 0 loan programs

Good Luck

  • February 10 2010
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No down payment programs do not exist unless you are a veteran.
  • February 10 2010
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