Energy Efficient Mortgages….
We relish the opportunity to compete for your business. If you are in the market to purchase a new home or refinance your current mortgage(s), please call us to obtain a quote. Interest rates are still extremely low, but with the Feds bond purchase program (QE3) expiring at the end of June, interest rate volatility is anyone’s guess.
Energy Efficient Mortgages (EEMs)
The availability of EEM’s is timely since energy costs are on the rise while consumers’ disposable income, unfortunately, remains flat. An EEM helps homeowners save money on utility bills
by enabling them to finance 100% of the cost of their energy efficient features to a new FHA purchase or FHA refinance mortgage. The EEM does not affect qualifying or down payments and
will not delay closing. Please call us for more information… The typical “Big 5” improvements are
- Central Heating and Air
- Dual pane windows
- Insulation
- Water heaters
- Infiltration (Weather stripping and
caulking)
SERVICE GUARANTEE:
WE GUARANTEE A SMOOTH LOAN ORIGINATION PROCESS OR WE WILL REFUND UP TO $500 OF YOUR CLOSING COSTS
We appreciate the opportunity to work with you on your next refinance or home purchase transaction. Please pass this along if you think we can help any of your close friends or family.
Mortgage Rates ↓ Stocks, & Housing
There are two things we tend to buy less of when the price goes down….do you know what?
Most of us like a bargain when we go shopping and feel much better buying things when they are 10%-20% off or “Buy one get one free or at half off.” But, there are two things that always buck this trend of buying when prices go down. What’s even crazier is that, with these two things, people tend to buy more of after their price has goes up rather than down. Do you have a guess on what they are?
How about real estate and stocks?
According to the most recent S&P/Case-Shiller Home Price Index, home prices on average across the U.S. are back to their summer of 2003 levels, meaning, they’re the cheapest they’ve been in about eight years. That said, are we clamoring to buy homes? No. In February, new home sales in the U.S. fell to a record low. Yet, during the boom times when prices were at their highest — people were buying homes like crazy and “flipping” them and we all know how that story ended.
The same is true when it comes to stocks, historically people tend to stay away from stocks when prices are down. For example, how many of us were buying more stocks as the market was declining to its recent low in March 2009? Many feel comfortable buying stocks when their prices were zooming?
These two examples suggest that housing and stocks are two major categories that defy traditional expectations.Buying these may be a smart long-term plan.
Mortgage rates dipped for the second week in row on news of weak global and US Economic news
| Loan Program | Monthly Pmyt | Rate | APR | Points |
|---|---|---|---|---|
| 30YF | $1229 | 4.25% | 4.54% | 0 |
| 20YF | $1531 | 4.125% | 4.37% | 0 |
| 15YF | $1802 | 3.625% | 3.92% | 0 |
| 5/1 ARM | $1037 | 2.875% | 3.12% | 0 |
| 7/1 ARM | $1087 | 3.125% | 3.37% | 0 |
| FHA-30YF | $1229 | 4.25% | 4.37% | 0 |
| FHA-15YF | $1833 | 3.875% | 3.98% | 0 |
| 30YF | $2746 | 4.375% | 4.62% | 0 |
| 15YF | $3999 | 3.75% | 3.87% | 0 |
| 5/1 ARM | $2318 | 2.875% | 3.12% | 0 |
| 7/1 ARM | $2431 | 3.375% | 3.62% | 0 |
| FHA-30YF | $2705 | 4.25% | 4.37% | 0 |
We appreciate the opportunity to work with you on your next refinance or home purchase transaction. Please pass this along if you think we can help any of your close friends or family.
Housing Market & Mortgage Rates
I recently attended a private presentation on the housing market by renowned Economist Dr Edward Leamer of the UCLA Anderson School of Management. His focus was on how the groundwork was established for the start of the decade long housing boom to the ultimate meltdown and the lessons learned. The “easy credit” and the market’s insatiable appetite for mortgage-backed securities fueled the boom that ultimately went bust. On the flip side, it is quite remarkable to currently be in an environment where home prices are at or near the bottom coupled with historically low interest rates . . . . the “perfect combination”. Like many experts, he foresees interest rates moving up this year but home values to remain depressed until early 2012. One key point he discussed was the rapid growth in the rental market increasing demand for Multi family housing (1- 4 units) and decreasing demand for single family housing
It is a good time to buy your first home or that investment property you have been considering (Get Pre-Approved it only takes minutes) or if you are thinking of refinancing your current loan….jump on it.
Interest rates ticked up this week on strong corporate earnings. Outlined below are today’s rates. We continue to expand our product offerings and recently added Super Jumbo products up to $20,000,000 including fixed interest only loans.
|
Current Conforming Rates–Primary residences only (Pmyts based on a average loan amount of $250,000) for a historical perspective on rates please visit my blog |
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|
Loan Program |
Monthly Pmyt |
Rate |
APR |
Points |
|
30YF |
$1304 |
4.75% |
4.79% |
0 |
|
20YF |
$1581 |
4.50% |
4.62% |
0 |
|
15YF |
$1833 |
3.875% |
3.92% |
0 |
|
5/1 ARM |
$1070 |
3.125% |
3.25% |
0 |
|
7/1 ARM |
$1140 |
3.625% |
3.69% |
0 |
|
10/1 ARM |
$1211 |
4.125% |
4.25% |
0 |
|
FHA-30YF |
$1248 |
4.375% |
4.45% |
0 |
|
FHA-15YF |
$1833 |
3.875% |
3.98% |
0 |
|
Current High Balance Rates – (Pmyts based on a average loan amount of $550,000) |
||||
|
30YF |
$2910 |
4.875% |
4.92% |
0 |
|
15YF |
$4102 |
4.125% |
4.25% |
0 |
|
5/1 ARM |
$2413 |
3.375% |
3.50% |
0 |
|
7/1 ARM |
$2547 |
3.75% |
3.87% |
0 |
|
FHA-30YF |
$2786 |
4.50% |
4.62% |
0 |
We appreciate the opportunity to work with you on your next refinance or home purchase transaction. Please use the Social Media buttons above to pass this along if you think we can help any of your close friends or family
Mortgage Rates (11/06/2010) and more….
You may be wondering – I just refinanced last year and my current rate is above 5%, does it make sense for me to refinance again? I know a lower rate will give me a lower payment, but I’m not sure if it’s worth refinancing my mortgage again? Let’s talk numbers so you can make an educated decision…
For example purposes, let’s say you have a $250,000 balance on your loan and your interest rate is 5.375%. Your current payment (principal and interest) is $1,400. You will pay a total of $254,000 in interest over the life of the loan. If you were to lock in today’s rates (Our current rates) the grid below gives you an idea of how much you will save on average compared to your current loan terms. These rates are for conforming loan amounts up to $417,000. If you have a high balance loan (Up to $729,750) gives us a call for a rate quote, these rates are pretty close to the conforming rates.
By the way our underwriting turn times are at 5 days compared to 3-4 weeks at big banks!
| Current Rates | ||||||
| Loan Program | Monthly Pmyt | Rate | APR | Total Int Paid | Int Saved | Points |
| 30YF | $1230 | 4.25% | 4.37% | $192,745 | -$61,228 | 0 |
| 20YF | $1499 | 3.875% | 4.04% | $109,649 | -$61,228 | 0 |
| 15YF | $1787 | 3.50% | 3.70% | $71,697 | -$182,276 | 0 |
| 5/1 ARM | $1070 | 3.125% | 3.24% | $135,537 | -$118,436 | 0 |
| 7/1 ARM | $1070 | 3.125% | 3.24% | $135,537 | -$118,436 | 0 |
There are a number of ways to make a mortgage refinance work in your financial favor. Shortening the term or simply lowering your interest rate can result in immediate monthly savings and huge annual interest charge savings. With so many options and so many different scenarios, its sometimes overwhelming. Give us a call and one of our experts can help and guide you through the process.
If you are in the market to buy a new home, please consider becoming Pre-Approved through Trulending prior to your home search as most Realtors now require a Pre-Approval letter prior to showing any properties. If you need a knowledgeable Realtor, please call me and I can recommend one of our trusted colleagues who has a strong understanding of today’s complicated market place.
Choosing a Lender
Thinking about buying a new home or refinancing your current mortgage…but don’t know who to turn to? Torn between going to a “big bank” and going to a small broker? You aren’t alone – many customers aren’t sure where they are going to get the best loan terms, the lowest fees and the fastest service.
With us, you get the best of both worlds. We aren’t “too big to fail” and we aren’t a small mortgage broker – we are a Direct Mortgage Lender. Our goal is simple – leverage our years of mortgage lending experience to provide you with both world class service and loan terms that you can appreciate.
To further highlight our competitive advantages, I put together our Top 5 advantages.
Top 5 Advantages:
1. We can close your loan quickly. If speed and accuracy is important to you, we are confident we will exceed your expectations! We have closed loans in as little as 7 days!
2. Process appraisals in 1 to 2 days. Every loan needs an appraisal, and you can go to a big bank and wait 2 weeks or more – or let us handle it in 2 days or less!
3. Experience: We can’t say enough about the difference an experienced direct mortgage lender can make on your loan. Whether you are a salaried employee or a self-employed borrower, your circumstances are unique. We are experts in reviewing tax returns and maximizing self-employed income. Don’t spend countless hours working with a loan originator that isn’t supporting your
requests. Let us turn a difficult situation into your new peace of mind.
4. Control over the process. Your basic mortgage broker processes your loan, and sends it to the bank to be underwritten. This takes a lot of time and is generally inefficient. We have our own highly experienced underwriters and processors, and we close our own loans! Don’t waste your time with middle men – work with a direct lender and you will immediately appreciate the difference!
5.Many loan and rate options. If you are looking for the best rate and the lowest fees, you need to work with a direct lender. We will find you the very best loan terms, and fund your loan with our money! We can close as quickly as you want.
NEW SERVICE GUARANTEE
WE GUARANTEE A SMOOTH LOAN ORIGINATION PROCESS OR WE WILL REFUND UP TO $400 OF YOUR CLOSING COSTS
About Me
Trulending was founded with a simple goal in mind – provide each client with the highest level of personalized service. This isn’t a “one size fits all” business 
– our financing solutions are tailored to each specific customer’s situation. With nearly 20 years of mortgage lending expertise and a commitment to integrity and honesty in lending, our singular focus is your satisfaction.
To our clients, we are more than lending officers – we are trusted advisors. We specialize in a relationship driven approach to solving your mortgage financing needs. If you are new to Trulending, we hope we have an opportunity to earn your business. As President of Trulending, you have my commitment that we will deliver the very best experience possible.
Below are excerpts from letters written by some of our customers – they have experienced our relationship based service first hand. If you would like to learn more about Trulending, give me a call, send an email, or take a moment to review some of the customer comments I have displayed below. We look forward to hearing from you!
Sincerely
Lalin De Soyza
Customer Comments:
If you would like to talk to any of our clients about their experience with Trulending Mortgage, please email us and we will provide you their contact information.
At first, it appeared Trulending Mortgage Corp. would be handling a simple refinance at a great rate, but they uncovered problems with two of my
banks, had to work tenaciously until they were corrected, and stayed in touch with updates and good spirits throughout. This was, by far, the most enjoyable and financially rewarding business transaction ever.
— Connie Turner, Sierra Madre CA
“As a retiree, I want to commend Trulending Mortgage Corp. and Lalin De Soyza for guiding me through the tough new federal guidelines for mortgage refinancing so that I could be successful. They are knowledgeable, efficient, and responsive. My highest recommendation.”
–Robert Murdoch, Pasadena CA
“Lalin guided us through the lending process with courtesy and efficiency. Because we had a new business, our situation was complex, and Lalin made sure that we made the right decisions and understood the process. We highly recommend him and Trulending Mortgage.”
– Justin Moore and Andrea Boeck
“Trulending Mortgage did an incredible job! They guided me to get the right loan for me and worked hard to get the job done quickly. I was impressed that they go me approval so quickly and they were easy to reach and very responsive. Great working professionals that return calls right away and help walk me through the process. I absolutely recommend their services.”
–Dan Wakumoto, West Covina CA
“The closing process was a disaster due to a bad Escrow company but Trulending was excellent. They even caught the fees the escrow company tried to include in my closing costs which I was not liable for. That alone saved me $1,800.00.”
–Devanka Aluwihare, Los Angeles
“After working with two different lenders who promised me the world and never delivered, Trulending Mortgage and especially Lalin De Soyza was exactly what I needed. He explained the process for me and was extremely patient and helpful in getting me the best loan and
rate out there. I own my first property now and will definitely use his
services in the future”
–Sincerely, Sammy S
“You’ve been a real gem. I appreciate your professionalism and promptness through this whole grueling process. You have my sincerest gratitude and any future referrals I can pass your way.”
–Cheryl P, M.D. Redondo Beach CA
“From the initial application to the closing of my loan, Mr. De Soyza and his team were very professional, dedicated and available at all times to assist and give me valuable advice on my loan, including ensuring I got the best rate by locking in my rate at the optimal time, not what was available at the time of my application. Additionally, they went above and beyond by assisting me with resolving some issues on my credit report and worked with my hectic travel schedule.”
Sincerely,
–Gina Turner, San Ramon CA
“When we were looking to refinance last spring Lalin came in highly recommended to us and he was very patient while we waited quite a while for the rates to hit our target after we were pre-approved for the loan. It was so nice to have a friendly voice to guide us through a process that can be stressful, and Lalin was always available to explain different scenarios or answer any
questions that we had. We would certainly recommend Lalin and Trulending Mortgage for close attention and personalized service.”
–Peter and DeAnna G., San Francisco
“I just wanted to commend you and the entire TruLending team for your excellent service and assistance with our mortgage refinance. We really appreciated all the attention and time you took to walk us through the process and answer all of our questions. We definitely felt like you had our best interests in mind and were our advocate in the process”
–Francis B., Burbank CA
“Working with Lalin and Tony was a wonderful experience. When I refer people to them, the first thing I always tell them is that they are responsive, which is as important to me as getting a good rate. I would leave a voicemail message or send an e-mail, and would hear back within an hour or less”
— Nancy B., Caliente, CA
“We recently refinanced our house with help from Trulending Mortgage, and the service that Lalin and Tony provided was excellent from beginning to end. They were able to offer us a lower rate than our previous broker—and with lower closing costs, too. Our refinance was complicated for a number of reasons; Lalin and Tony worked tirelessly to usher us through every step of the process, and ensure that the low rate that they had originally secured for us would remain. I recommend Trulending Mortgage enthusiastically”.
— Joe R. & Tammy S., San Francisco,CA
I would like to let everybody to know that Trulending Mortgage went out of their way get the Loan for us when we got our second House. Lalin & Tony where there with us through the whole process. Best of Luck to them in the Future.
— Vito & Anna S., Denair, CA
“Lalin De Soyza at Trulending Mortgage is excellent. Mr. De Soyza followed through on the interest rate, no points, and closing costs exactly as promised. The interest rate was a quarter percent less than three other companies were offering at the same time, except that he lowered the closing costs by a few hundred dollars. From start to end the loan took about 15 days to close”.
Lalin and his team are courteous and straightforward and follow through.
— Donald & Stacie A., Pasadena, CA
Email: lalin@trulendingmortgage.com
Address:
70 South Lake Ave.; Pasadena, CA 91101
Office: (626) 463-7028; Cell: (626) 818-2610
Department of Real Estate Lic# 01525521
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