Conventional Mortgage Loans by Residential Wholesale Mortgage, Inc

We have the perfect loan to best suit your situation.

What is a Conventional Mortgage?

Conventional mortgages are the most common types of loans, falling below the general secondary market loan limits of $729,750. Maximum loan limits vary by county, so our loan professionals will inform you accordingly. Pricing increases above $417,000, but the rates are extremely attractive when compared to traditional Jumbo products. Conventional mortgage loans include fixed and adjustable rate mortgages (ARMs), as well as first-time home buyer products. Most require a 3% down payment, but sellers and family members can help minimize down payment and closing costs requirements up to 6% of your purchase price! If your down payment is less than 20%, all programs require private mortgage insurance or Lender Paid Mortgage Insurance. We will be happy to show you which option is best for your situation.

	Fixed and adjustable rate conventional mortgages up to 729, 750.
	1st-Time buyers options to 97% LTV: FHA, CalStrs, and VA programs.
	100% financing available for Veterans
	Jumbo products to 5,000,000
	Construction, second trust deed, small commercial, and private money
	Reverse Annuity Mortgages for borrowers 62 years of age and older

Where do I Start?
The best thing to do is contact RWMI for a no-obligation free consultation with one of our loan professionals. We will discuss your specific needs and goals, and then will inform you about what loan options might work best. We are happy to issue you a pre-approval if you are interested in purchasing a home and can refer you to an experienced Real Estate Professional in your area if you are not currently working with anyone. To schedule an appointment, please call 800.865.6266 for immediate assistance.

European Concerns Increase

Increased concerns about Europe helped mortgage rates improve this week, although the impact of the recently passed extension to the payroll tax reduction is beginning to push up mortgage rates for certain loans (discussed below).

The news from Europe was mostly negative this week. Economic growth in Germany was slower than expected. Negotiations on restructuring Greek debt did not progress as planned, increasing the risk of default. S&P is downgrading the debt of several European countries, including France. Finally, the European Central Bank (ECB) provided no relief, as it gave no indication that it would increase the level of aid available to troubled countries. As a result, investors shifted funds to relatively safer investments, including US mortgage-backed securities (MBS), which helped mortgage rates move lower.

The recently passed extension to the temporary payroll tax reduction contained a lightly publicized revenue raising provision to increase the guarantee fees charged on Fannie Mae and Freddie Mac loans. This fee results in higher rates for borrowers, and mortgage rates for loans not expected to close within the next month or so have begun to reflect this coming increase in guarantee fees.


	800.865.6266

Call 800.865.6266 for current interest rates. Each rate quote we provide is custom & we offer the most competitive products and programs available in the market place when considering your specific situation.

Rates are subject to change.