Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now
Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

loans
apply now
INTEREST RATES HIT 7 YEAR HIGH!
We have the most comprehensive rates anywhere!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
apply now
INTEREST RATES HIT 7 YEAR HIGH!
We have the most comprehensive rates anywhere!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989

Figure Payment

Loan Amount ($)
Interest Rate (%)
Loan Term (Yrs)
Payment:

Interest Rate Buy Downs

In certain markets, Interest Rate Buydowns may be available. In general Buydowns this is how they work. Payments are reduced and figured on a lower interest rate over a specific term. The difference between the “real” note rate and the lowered interest rate is paid in cash by the seller or the buyer. The more common buydowns are 3-2-1 and 2-1.

For example, the 2-1 Buydown with a loan amount of $350,000 which has a fixed interest rate 6.75% for 30 years. To “buy down” the interest rate, the cost would be a lump sum of $8,063.

  1. First-year interest rate is 4.75%, monthly payment is $1,826.
  2. Second-year interest rate is 5.75%, monthly payment is $2,043.
  3. Years three through 30, interest rate is 6.75%, monthly payment is $2,270.
    • 1st-year savings (as compared to $2,270 per month) is $444 per month or $6,332.
    • 2nd-year savings (as compared to $2,270 per month) is $228 per month or $2,731.

Add up the annual savings: $6,332 + $2,731 = $8,063. Therefore, it costs $8,063 to buy down the interest rate and payments for two full years.

Contact your mortgage professional to discuss the availability of these options for you

CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

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Service Provider

 

 

CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

security Provided by OpenClose Proud Partner of OpenClose for 11 yrs
Service Provider