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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (38253)	8/9/2005 6:26:25 PM
From: loantech	Read Replies (1) \| Respond to of 110194

Hi mish, We have three companies that we place helocs with they each offer ARM and fixed rate helocs. I almost never write or work on one of these (thank the lord)<g> but it appears as most of the ARMs have a margin of zero to 1 or 2 %. The higher the loan to value the higher margin and the lower loan requests sometimes have higher margins. The ARM rates are based on prime and as far as I know after a short teaser rate time frame they adjust monthly.Also based on scores that is correct. Hope that helps. Sometimes getting a 2nd from a larger institution like Wa MU or Wells is a good way to go. They base value off of a tax statement and the fees are very low. Your rate may be 6-7% on an adjustable and if you choose to do so after you close they will let you fix that rate at higher than what the adjustable is but not much higher. tom