Posts Tagged ‘Savings’

If you have not Refinanced yet, Why not? Do you need a personal Invitation?

If so, here it is……

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You are cordially invited to save hundreds of dollars off your monthly mortgage payment by refinancing your loan today. Dan Shlufman and Classic Mortgage hereby request the presence of your loan application at our processing center in Maywood, NJ. We would be thrilled to share this special time in history with you when we have the lowest interest rates on record.

The pleasure of your patronage is respectfully requested. Please RSVP to the contact information listed below at your earliest convenience. We want to make sure that we have funds put aside so that you can enjoy a lower monthly payment for 15, 20 or 30 years.

 

If you would like us to book a hotel or a flight which you can pay for with these savings, please let us know. Also, if you need cash to pay off high interest credit cards; for a home renovation; college or a business investment, you can do that too.

Contact me today and find out how you can save hundreds of dollars on your monthly payment by refinancing. You can also buy a new home with a great interest rate. As Eddie the pitchman from the 80’s might say, “act now, these Crazy rates won’t last forever!”

 

Warmly (or, maybe with this weekend’s weather, I should write “Hotly”),

 

Daniel M. Shlufman, Esq.

 

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Changes to FHA Mortgage Insurance Premiums January 2015

Great news for anybody who either has an FHA loan or is looking to buy a property with an FHA loan.

On January 26, 2015, which is just a few days from the taping of this video, the FHA will be lowering their Mortgage Insurance premiums. The current FHA Mortgage Insurance premium is 1.35%. It’s going to be lowered by 0.5%, so from currently 1.35% to 0.85%.

This represents the savings to people taking out FHA loans anywhere from $90 to $300 per month every month that you have that loan. So anybody has an FHA loan. you may be available to do a Streamline Refinance. A Streamline Refinance has very low documentation and has no closing cost so it can be a good deal. You’re automatically saving by half percent just by the reduction in the Mortgage Insurance. And if your rate is higher than the new rate you’ll also save money on the interest rate itself.

The FHA insures about one-fifth of all new U.S. mortgages and is a major provider of mortgages to first-time homebuyers. FHA loans allow for little as 3.5 percent downpayment with the minimum FICO score requirement of 580.

The lower premiums are going to enable 800,000 homeowners to save money on a refinance and it’s going to enable another 250,000 new homebuyers to become homeowners due to the lower payments.

So whether you’re first time homebuyer moving in to a new house or you want to refinance your existing FHA mortgage, the FHA loan program will let you do this with lower Mortgage Insurance.

If you’re interested in finding out how you can buy a house with an FHA loan or save hundreds of dollars per month on your current FHA loan, give Dan a call at (917) 575 -6977 or email at dshlufman@classicllc.com.