With the recent increase in 30-year fixed rate loans, adjustable rate mortgages are offering homeowners an effective solution to reduce the interest rate on their current home loan and, in some cases, consolidate other debt.
These adjustable rate mortgages are typically fixed for the first 3, 5, 7, or 10 years of the loan term and are usually at substantially lower interest rates than a standard 30-year fixed rate loan.
As an example, I recently secured a JUMBO 10/1 ARM for a customer with a loan amount to 80% of the appraised value of their home.
This not only reduced the monthly payment on their first mortgage by over $1,100 but also paid off approximately $85,000 in revolving debt!
This resulted in an overall savings of approximately $3,500 per month and over $40,000 per year!
This is a perfect example of providing a solution in a volatile market! By effectively managing the homeowner’s cash flow and debt, we have provided the financial flexibility many people are looking for in this economy.
For more information on how I can assist you, contact me at:
JACK REININGA
(925) 626-4617
http://pfgbayarea.com/jack-reininga
“Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.”
CA-DOC Lic.# 246007
He brings 10 years of experience as a mortgage advisor and more than 20 years of experience in commercial and residential real estate in the San Francisco Bay Area. He holds a bachelors of science degree in economics from the University of Utah.
Reininga specializes in high-quality, fully documented conforming, jumbo, FHA and VA loans and has worked with experienced homeowners in both refinance and purchase transactions as well as serving first-time homebuyers.
“I don’t work inside a narrow box and we have a wide variety of loan programs to meet my customer’s needs at the most competitive rates in the industry. I also get to work alongside a team of highly experienced professionals from processing to underwriting…it’s great to be able to say that,” Reininga said.
To contact him, please call (925) 270-4738 or email jreininga@mmcdcorp.com.
Mason-McDuffie Mortgage is a privately held, mortgage banking firm headquartered in San Ramon. Its name dates to 1887 in the Bay Area real estate industry. For corporate information, please see www.mmcdcorp.com.
- Jack Reininga Joins Mason-McDuffie Mortgage Corporation - June 26, 2014
- Pacific Funding Group Streamlines Loans to Avoid Delays During Governmental Uncertainty - October 4, 2013
- FHA Back to Work: Extenuating Circumstances Program - September 20, 2013
Leave a Reply