Thinking of refinancing your adjustable rate at this time. Half of these applications
mortgage? Looking for some extra funds to are for clients looking to refinance their Gardening Quiz
improve your home before the summer home current loans. 1.Which of the following crops makes the
buying season kicks into gear? top ten list of the most popular vegetables
What does this mean for you? grown in American gardens?
If so, we have some good news: a. Corn
We all know that PERL Mortgage con- b. Tomatoes
As you’ve probably heard, Freddie Mac recent- sistently offers the widest array of loan c. Carrots
ly reported that mortgage rates have reached programs at below-market rates with
their lowest level of 2007. To put this into fantastic customer service. But if you’re 2.Which is NOT true about tomatoes?
a 12-month perspective, rates at this time in thinking of obtaining financing for a a. They’re the official juice of Ohio
2006 were nearly .25% higher. Frank Nothaft, new purchase, refinance, 2nd mortgage, b. China produces the most tomatoes
Freddie Mac’s chief economist, has predicted construction – or even an investment c. There are 57 varieties of tomatoes
that no significant movements are anticipated loan – you can save even more by taking
for the near future. advantage of these low interest rates! 3.What measures over 8 feet tall?
a. The largest edible fungi
Accordingly, mortgage applications have in- Call or email today, and find-out if you’re b. The tallest sunflower
creased by 7.3% -- and have risen by nearly in a position to benefit from this lively c. The largest leaf
16% when compared to figures taken last year market movement!
4.How old is the longest living bristlecone
a. About 700 years
Welcome to the new PERLmortgage.com b. About 5000 years
c. About 7000 years
Over the past few months, the PERL market-
ing department has been overhauling PERL’s 5.The fastest growing tree grows at what
main website – perlmortgage.com. The site rate per month?
will launch this spring, and features more user- a. 5 inches
friendly menus, an improved design – and an b. 1 foot
online archive of newsletters and articles for c. 2.5 feet
Visit perlmortgage.com to: 6. Which is NOT true about pumpkins?
a. They were used to treat snakebites
Apply online b. They were believed to remove freckles
Use our mortgage calculators c. Most of the world’s pumpkin supply
Find contact information comes from Europe
Learn mortgage terms
Sign up for weekly updates Answers: 1(b), 2(c), 3(a), 4(b), 5(c), 6(c)
And much more!
PERL Mortgage Inc. is an Illinois residential mortgage licensee MB4358 and equal housing lender.
SPRING PUZZLE The spring market is in full swing! Call me to get pre-
approved, find out about new products, or for a
It’s that time again! Email your answer to
the puzzle below, and you’ll be entered
in our drawing to win a SPA GIFT BASKET!
Contest ends on May 30th!
The number 8549176320 has no particularly
interesting mathematical properties – yet
it has a unique method of construction.
What is it?
perl mortgage SPRING NEWS
Email your response to:
LAST ISSUE’S PUZZLE
Q: A mouse was in a classroom. In a few
minutes, he was on the North Pole. How
is this possible?
A: The mouse scurried around on a globe.
TRUTH IN MARKETING:
WHAT’S BEHIND THE 3% INTEREST RATE?
We’ve all opened the Sunday paper to find a of originating your loan. Some lenders charge
Do you currently hold an adjustable
barrage of ads for mortgage rates like this: points in order to secure a lower interest rate. rate mortgage? If so, is the term
Beware of advertisements for extremely low nearing expiration?
$$$ 30-year fixed mortgage! 3% Rate!
rates with “No Points.” That’s usually code
No Closing Costs! No Points! Call
for higher-than-average fees associated with Many times, your loan servicer (i.e. the
AAAAAAABC Loans Today! $$$
your loan. lender sending your monthly mort-
How did they come-up with 3%? gage bills) will send you offers with
Many loan programs offer a “teaser rate” for What’s the bottom line? opportunities to refinance. These
the first month or two. After this first “honey- Compensating factors such as your credit institutions only work with their own
moon” period expires, buyers are often stuck score, income, employment status – even the in-house rates and programs, while
with fully adjusted, not to mention, unfavor- balance in your bank account – can affect your PERL offers a myriad of programs
able rates. Also, if the rates stay at 3% for the rate – for better and for worse. from nearly a hundred lenders.
year, buyers increase their principal balance or
incur “negative amortization”. PERL Mortgage doesn’t advertise rates be- Even if your ARM isn’t set to readjust
cause they always change. Mortgage rates are a for the next 6, 12, or even 24 months
What does “No Closing Costs” mean? function of movement within the bond mar- -- it’s never too early to see if you can
Every loan requires closing costs – the ques- ket – and because the market changes every save money. Call me today for options
tion is . . . how and when they are paid. In day, rates change every day. to secure a new loan with a lower
most cases, the closing costs are either being monthly payment!
added to your loan amount or you are paying a When we speak about your loan, we’ll discuss
higher rate because of a “no fee” deal. your financial portfolio and overall long-term A one-minute call could save you
plan – and make an estimate based on your thousands of dollars!
What are “Points”? financial outlook. I’ll find you the lowest rate,
A point is a percentage point of your loan but more importantly, the best way to protect,
amount – and is, in some cases, a premium manage and nurture one of your most valued
charged by a lender for providing the service investments. CLOSE WITH CONFIDENCE.