Blog
1st Eagle Now Offering the E-Z Doc Program!
Do you have self-employed borrowers looking for a Jumbo loan? Our EZ-Doc program provides options for self-employed borrowers who have the ability to pay their mortgage with ease but may not be able to supply the rigorous documentation that is required in today’s mortgage marketplace. This program is appropriate for:
- Income is stated but not verified
- Loan amounts to $2M
- Minimum qualifying credit score 700
- LTV’s/CLTVs up to 70%
- Purch/RT/Cashout Accepted
- Max Cashout $400, ed 000
- DTI 33/43%
- Self-employed only
Eligible Property Types
- Primary Residence
- Second Homes
- 1 Unit SFR/PUD
Additional Details
- Caps: 5/2/5
- Margin: 2.5%
- Index: 1 Year LIBOR
Call 1st Eagle Mortgage at 847-441-4116.
October 23rd, 2014 by ATI Graphics, Inc.
A Thought About Fiscal And Financial Health
Why go to a 15 year mortgage? Yes, doctor it is a lower rate and you’ll save many thousands of dollars in interest compared to a 20 or 30 year mortgage.
Remember, unhealthy you don’t make money by paying down your mortgage. Your home will appreciate (or not) based on the real estate market.
In my opinion, ask a 15 year (or 10 year) fixed rate mortgage makes sense if:
- You’re able to continue to maximize your retirement contribution each year.
- You’ve paid off your credit cards (or have paid them down 10% or 15% of the the available limit.)
- You have 6 to 12 months of mortgage payments (including taxes and insurance) in readily available funds (money market, CD stocks, etc.)
I realize that in some cases, the desire to pay off your mortgage as soon as possible is so strong that it overrides any other consideration. However, I would suggest you at least consider the three items mentioned above.
I have several financial advisers that I can recommend.
Call 1st Eagle Mortgage at 847-441-4116.
October 23rd, 2014 by ATI Graphics, Inc.
