mick2me 3,033 Posted January 25, 2008 Report Share Posted January 25, 2008 I have been in contact with a couple of mortgage lenders in the US. I received this email today, Tried converting it in Babelfish from a selection of languages. French Dutch Serbo Croat, Japenese etc > ENGLISH without success? Can anyone translate it for me... Your Only Foreign National Specialist you will ever need (highlights below). 80% purchase full doc or refinance with 5% (Exception ONLY )Strong assets SFR, Town Homes, Condo MTA option Arms start rate 1.75% SFR, Town Homes, Condo 75% purchase Stated 5/1 arm Interest Only Rates start rate 7.375% Jumbo 5/1 rates 7.875% Condo-Tel Programs 75% Full documentation start rates 7.675% 3/1 & 5/1 arm Interest Only 40 year amortization 65% - 70% purchase condo -Tel programs Stated start rates 7.75%(no income verification) Full doc is CPA letter w/ income or VOE with income Stated is just that cash out=equity out up to 65%Must have a US bank Account Just give us a try!!!!! We can close with in 30days from commitment date weekly updates email directly to all agents & title Quote Link to post Share on other sites
bamber 128 Posted January 25, 2008 Report Share Posted January 25, 2008 I have been in contact with a couple of mortgage lenders in the US.I received this email today, Tried converting it in Babelfish from a selection of languages. French Dutch Serbo Croat, Japenese etc > ENGLISH without success? Can anyone translate it for me... Your Only Foreign National Specialist you will ever need (highlights below). 80% purchase full doc or refinance with 5% (Exception ONLY )Strong assets SFR, Town Homes, Condo MTA option Arms start rate 1.75% SFR, Town Homes, Condo 75% purchase Stated 5/1 arm Interest Only Rates start rate 7.375% Jumbo 5/1 rates 7.875% Condo-Tel Programs 75% Full documentation start rates 7.675% 3/1 & 5/1 arm Interest Only 40 year amortization 65% - 70% purchase condo -Tel programs Stated start rates 7.75%(no income verification) Full doc is CPA letter w/ income or VOE with income Stated is just that cash out=equity out up to 65%Must have a US bank Account Just give us a try!!!!! We can close with in 30days from commitment date weekly updates email directly to all agents & title arm = adjustable rate mortgage jumbo = larger than industry average mortgage condo tel = condominium-hotel cpa = accountant voe = verification of earnings mta = treasury average (interest rate based on US Treasury bonds coupon rate) sfr = single family residence full doc = full documentation (evidence of income for the past 2 years) Any more just ask. Quote Link to post Share on other sites
mick2me 3,033 Posted January 25, 2008 Author Report Share Posted January 25, 2008 Yeah Where can I get the best rates? US or UK? Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted January 25, 2008 Report Share Posted January 25, 2008 Hello, I am Mary, John's better half. I have been in contact with a couple of mortgage lenders in the US.I received this email today, Tried converting it in Babelfish from a selection of languages. French Dutch Serbo Croat, Japenese etc > ENGLISH without success? Can anyone translate it for me... Your Only Foreign National Specialist you will ever need (highlights below). 80% purchase full doc or refinance They will loan 80 % of purchase price (or apprasial price) with 5% (Exception ONLY )Strong assets SFR, Town Homes, Condo (SFR - Single Family Residance MTA option Arms start rate 1.75% SFR, Town Homes, Condo 75% purchase - They will finance 75% of purchase price (or appraised price) Stated - Stated means stated income for varification of your ability to pay. 5/1 arm Interest Only Rates start rate 7.375% Jumbo 5/1 rates 7.875% Condo-Tel Programs 75% Full documentation start rates 7.675% 3/1 & 5/1 arm Interest Only - Full documentation means proof of inome 40 year amortization - Loan payments spread out over 40 years 65% - 70% purchase condo -Tel programs Stated start rates 7.75%(no income verification) Full doc is CPA letter w/ income or VOE with income Stated is just that cash out=equity out up to 65%Must have a US bank Account Just give us a try!!!!! We can close with in 30days from commitment date weekly updates email directly to all agents & title this is a quote from a mortgage company for financing. If you want information from someone that will speak to you in common man's understanding I can get you in contact with some one who will talk directly to you. She is in the mortgage division of a bank in this area. I may not have explained everything, but put notes by what I think you need assistance on. If I can help you farther let John know and he can give you my e-mail. Never mind here it is <firstamericanre@yahoo.com> . Let me know if you need more information. Marylee Waudby 1st American Realty So hope that helps a bit Mick. John Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted January 25, 2008 Report Share Posted January 25, 2008 I have been in contact with a couple of mortgage lenders in the US.I received this email today, Tried converting it in Babelfish from a selection of languages. French Dutch Serbo Croat, Japenese etc > ENGLISH without success? Can anyone translate it for me... Your Only Foreign National Specialist you will ever need (highlights below). 80% purchase full doc or refinance - THIS MEANS THEY WILL LOAN 80% OF PURCHASE PRICE (or appraised price) WITH PROFF OF INCOME (ABILITY TO PAY) with 5% (Exception ONLY )Strong assets SFR, Town Homes, Condo - SFR MEANS SINGLE FAMILY RESIDENCE MTA option Arms start rate 1.75% ??? SFR, Town Homes, Condo 75% purchase - THEY WILL LOAN 75% OF PURCHASE PRICE (or appraised price) WITH STATING YOUR INCOME (ability to pay) Stated 5/1 arm Interest Only Rates start rate 7.375% THIS IS IF YOU WANT A LOAN PAYING INTEREST ONLY AND NO PRINCIPAL Jumbo 5/1 rates 7.875% Condo-Tel Programs 75% Full documentation start rates 7.675% 3/1 & 5/1 arm Interest Only - RATES FOR INTEREST ONLY LOANS START HERE IS YOU ARE STATING YOUR INCOME 40 year amortization - THEY WILL AMERTIZE THE LOAN OVER 40 YEARS 65% - 70% purchase condo -Tel programs - THEY WILL LOAN 65-70% IF DOING THE LOAN OVER THE TELEPHONE WITH STATING YOUR INCOME Stated start rates 7.75%(no income verification) - THE RATES ARE HIGHER IF YOU HAVE NO PROOF OF INCOME Full doc is CPA letter w/ income or VOE with income - THIS IS PROOF OF INCOME AND YOUR ACCOUNTANT VARIFYING YOUR INCOME - VOE = VARIFICATION OF EMPLOYMENT Stated is just that cash out=equity out up to 65%Must have a US bank Account Just give us a try!!!!! We can close with in 30days from commitment date weekly updates email directly to all agents & title Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted January 25, 2008 Report Share Posted January 25, 2008 Sorry about that Mick, the wife answered all the questions, but I didn't preview the first post and they didn't show up. Anyway, there you have it and some contact info. John Quote Link to post Share on other sites
Limey 242 Posted January 25, 2008 Report Share Posted January 25, 2008 As to where you can get the best rates - the prime was lowered 0.75% here on Tuesday which also affects mortgage rates. Yesterday they were saying fixed rates are at a five year low with 30 year fixed going at about 5.8%. Shorter term fixed will be even lower. Typically, ARMs go at a much lower rate, but with the issues we have with foreclosures, my guess is that they are going to be pretty picky about qualifications for ARMs, interest only, and Balloons. Good luck! Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted January 25, 2008 Report Share Posted January 25, 2008 AND, I like what they were saying yesterday, "spend your refund on American made goods" Are the politicians that cut off from mainstream life??? Whats made here anymore except a big mac? Even Levi's are made in China now, no domestic electronics are made here anymore and almost the same with power tools. Even Stanley now have factories in China. Quote Link to post Share on other sites
Limey 242 Posted January 25, 2008 Report Share Posted January 25, 2008 AND, I like what they were saying yesterday, "spend your refund on American made goods" Are the politicians that cut off from mainstream life??? Whats made here anymore except a big mac? Even Levi's are made in China now, no domestic electronics are made here anymore and almost the same with power tools. Even Stanley now have factories in China. They were questioning this on NPR as I drove home last night - analysis of the last refund (2003?) was that the biggest spending was on clothes (US made?), second was bills, third was food. Hardly the kind of things that will pull the economy out of a slump! Quote Link to post Share on other sites
Ayupmeducks 1,730 Posted January 25, 2008 Report Share Posted January 25, 2008 They were questioning this on NPR as I drove home last night - analysis of the last refund (2003?) was that the biggest spending was on clothes (US made?), second was bills, third was food. Hardly the kind of things that will pull the economy out of a slump! I'd be offering interest free long term loans to small manufacturing exporting companies, employing less than 200 people. They are the ones who will stimulate the economy by expansion. That would certainly go down a lot better than giving money away willy nilly. Quote Link to post Share on other sites
mick2me 3,033 Posted January 26, 2008 Author Report Share Posted January 26, 2008 Sorry have been unable to reply to the answers here. Will get back to you when I know exactly what I need. Unless someone has a spare quarter of a million dollars around? Quote Link to post Share on other sites
Beefsteak 305 Posted January 26, 2008 Report Share Posted January 26, 2008 Pass me purse Quote Link to post Share on other sites
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