Comments on: Conforming Loans, The Alternative To High Jumbo Rates http://truthfullending.com/blended-rate-jumbo-mortgage/ Anything and everything Thu, 12 Apr 2012 02:18:08 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: John http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-791 John Thu, 06 Sep 2007 19:52:02 +0000 http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-791 A $500,000 loan amount, split into a $417,000 first and an $83,000 second, the first at 6.5% and the second at 9%, the blended rate would be a bit under 7% (Let me know if you can't arrive at that number). The payment on the first would be $2,635.72 and the payment on the second would be $667.84. Combined monthly payment of $3,303.56. Whereas a traditional jumbo loan at, let's say, 7.25%, one loan, would yield a payment of $3,410.88. So, in this case, by splitting the mortgage in two, you're saving $107.32/month. This is all assuming a total loan amount of $500,000, including costs, etc. Hope that helps. A $500,000 loan amount, split into a $417,000 first and an $83,000 second, the first at 6.5% and the second at 9%, the blended rate would be a bit under 7% (Let me know if you can’t arrive at that number).

The payment on the first would be $2,635.72 and the payment on the second would be $667.84. Combined monthly payment of $3,303.56.

Whereas a traditional jumbo loan at, let’s say, 7.25%, one loan, would yield a payment of $3,410.88. So, in this case, by splitting the mortgage in two, you’re saving $107.32/month.

This is all assuming a total loan amount of $500,000, including costs, etc.

Hope that helps.

]]> By: Michelle http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-790 Michelle Thu, 06 Sep 2007 17:43:01 +0000 http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-790 Correction: What would be the payments for the example you provided of a 700K home assuming today's interest rates, i.e. 6.5 for first mortgage, 9 for second mortgage, blended rate of 7.142%? Correction: What would be the payments for the example you provided of a 700K home assuming today’s interest rates, i.e. 6.5 for first mortgage, 9 for second mortgage, blended rate of 7.142%?

]]> By: Michelle http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-789 Michelle Thu, 06 Sep 2007 17:40:59 +0000 http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-789 What would be the monthly payments for the example you described? What would be the monthly payments for the example you described?

]]> By: Tim http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-727 Tim Tue, 28 Aug 2007 04:35:52 +0000 http://truthfullending.com/blended-rate-jumbo-mortgage/#comment-727 Holy cow bro! I had to read through that math like 10 times before it made any sense...but now the light shines upon me and I understand! [angels singing] Great post! Holy cow bro! I had to read through that math like 10 times before it made any sense…but now the light shines upon me and I understand! [angels singing] Great post!

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