TRUE NO-COST HOME LOAN DETAILS
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So, you have read the overview and are now looking for details. Well, here is more than you may have wanted to know. DON'T get confused! We are happy to discuss how you can benefit from our TRUE NO-COST HOME LOAN offer.
Here is the short answer:
On our $300,00 example you will SAVE $6,000, or more, at Closing!
Working with us may give you as much as a 10% bigger, better home.
AND, over a 5-year period, an additional $42,800 may be yours!
We are passionate about saving you money. By combining real estate and mortgages we have drastically cut the cost of the home buying experience for your benefit. We feel like the Jim Kramer of the real estate and mortgage world. We can’t say enough about how you should exercise sound financial management decisions and remove the uncertainty of lack of knowledge, who to trust and how to verify your mortgage decision. You have too much to do in your world, let us relieve the pressure and uncertainty of this huge economic decision.
It's also about FINANCIAL MANAGEMENT!
Buying your home is not just about having a home. This is the largest investment you will ever make.
Look at it another way,
Your home purchase is actually about sound financial management!
With that in mind, let's see how working with us can be benefit YOU. Below is based on a scenario with 20% down payment and a thirty year fixed rate mortgage. Of course other possibilities abound, but the underlying premise is the same.
Purchase Price |
$375,000 |
|---|---|
Down Payment |
$75,000 |
Mortgage Balance |
$300,000 |
Column ONE represents typical loan costs you would incur on your purchase.
Column TWO shows ZERO loan costs and a $6,000 savings! That’s money left in your account. Please note that the interest rate is the same. It has not been increased to cover closing costs!
ONE |
TWO |
||
|---|---|---|---|
YOUR COST |
YOUR COST |
||
| INTEREST RATE | 6.625% |
6.625% |
|
| YOUR APR | 6.691% |
6.625% |
|
| LOAN ORGINATION FEE | 1% |
$3,000 |
ZERO |
| CLOSING COSTS | $3,000 |
ZERO |
|
| NORMAL CLOSING COSTS | $6,000 |
ZERO |
|
| YOUR SAVINGS | ZERO |
$6,000 |
|
| EXAMPLE BASED ON 30 YEAR FIXED MORTGAGE | 6.625% |
||
| MONTHLY PAYMENT (EXCLUDING TAXES AND INSURANCE) | $1,921 |
* This example is based on a 30 year fixed mortgage at a rate of 6.625%.
*Note: This rate is for illustration only. Rates change daily, for a free estimate of benefits and today’s market rates, call Washington Financial Group at 425-282-5774. |
And that is our offer of paying your closing costs for you.
It is a truly winning proposition!
You now have $6,000, or more, to use for new appliances, furniture, carpet or a wonderful vacation.
Nothing is really free.
Well sure, “they” jack the interest rates to cover costs!
NO “WE” DON’T! Freddie Mac is one of the largest purchasers of mortgages in the secondary mortgage market. As such they publish their Weekly Primary Mortgage Market Survey updated daily. It’s SIMPLE- Your rate will always be less than or equal to Freddie Macs’ published rate with our offer. Now you have a tracking device! Your rates will not be “jacked up” to cover your closing costs!
Your FREE Consultation will help you understand
what does make sense for YOU!
But wait, there is more!!!!
Let's say that a monthly payment of $1,921 is OK, manageable for you. Now, let's negotiate in your behalf, a 3% seller contribution to closing costs. But wait! You now have NO CLOSING COSTS! What are we doing?
So, Option 1, is to use this 3% Seller contribution to obtain a lower interest rate!
SELLER PAID |
3% |
|
|---|---|---|
YOUR BOUGHT DOWN INTEREST RATE |
5.875% |
|
AND APR IS... |
5.968% |
|
PAYMENT |
$1,775 |
|
SAVING YOU EVERY MONTH FOR YEARS TO COME... |
$146 |
YES! That is 0.750% LOWER!
GREAT! What other choices do you have? Here's one- Buy more home!
OPTION 2 Obtain the lower interest rate and buy more home at no additional cost.
Keep in mind that we made the assumption that you found the payment of $1,921 an acceptable payment and that you qualified for it. Remember?
So, how much extra home can you now buy? That would be $24,690 more.
This means that you can actually afford almost 10% more home than you purchased!!!
You can get a mortgage of $324, 690 at no extra cost! Thanks Mr. SELLER!!
That may mean an extra bedroom, den, maybe a garage.
A better neighborhood?
Let's keep running with this. It gets a bit complicated here.
- You get a True NO-COST home loan. Check!
- You get the seller to contribute 3% towards closing costs, netting you a lower rate. Check!
- You can buy $24,690 more home. Check!
Well, of course, there is yet another benefit!
That extra $24,690 also appreciates!
Appreciation will apply to the extra home amount. At 8% per year, five years out you will have an extra $43,400 in built up equity! Think about it! That's like having your future closing costs paid for by the Seller of the home you are now purchasing! That’s money in your pocket and you can secure it TODAY!
The best time to make your BEST decision is up front-
That is, “on the purchase.”
You won’t get a second opportunity to make YOUR best decision.
What? How does that work? Well, it's like this…
Let’s assume, appreciation on your purchase price of $375,000, not considering that you purchased extra home by seller contribution. In five years you want to sell your home. Also assume 8% appreciation per year.
5 YEARS OUT |
30 YEARS @ 4% |
|
|---|---|---|
| Future Sales Price | $551,000 |
1,216,274 |
| 10% Sales Cost | $55,100 |
|
$495,900 |
||
| Remaining Mortgage Balance (EOY 5) | $281,234 |
|
| Available for down payment on your Future Home! | $214,667 |
Isn't inflation great!
That makes a nice down payment!
But wait,
Let's assume that you did buy the extra home. How much would that give you for a future down payment?
| 5 years out | 30 years @4% | |
|---|---|---|
| Additional Appreciation | $43,000 |
$94,483 |
| Total Available Future Down Payment | $257,466 |
$94,483 |
| The 30 years @ 4% assumes that you keep the home for that period. | ||
| Four percent was used as a conservative estimate |
WOW…..There is a lot to digest here.
There are many ways to look at how you can benefit much more than your initial savings would indicate.
Call today for your FREE consultation!
Better yet….
Call TODAY to lock in your benefit!
OR EMAIL INFO@THESOUNDTEAM.COM
1.800.846.0970
1.425.282.5393
Restrictions apply, OAC
This offer may be withdrawn at any time prior to registration.
Savings are based on mortgage amount.
Appreciation is not guaranteed.