Docstoc

700

Document Sample
700 Powered By Docstoc
					Rate Sheet #700
Date              08/16/07                          Maitland Mortgage Lending Company
States            FL, GA & MD+
                                                                                                 235 S. Maitland Ave. Suite 218, Maitland FL 32751
                                                                                                                     866-653-1003; (407) 629-LOAN
                                                                                                                                 Fax (407) 629-6485
                             Remember To Use The
                                HIGH SCORE!


                                                  Fixed Rate                                                       Price Adjustments to Base Rate
    1st                                             Full Doc                                                       Programs:
 Mortgages:                    No Section 32 Loans - APR must be less than 13.0%                                   15 Year Term & 360/180 Balloon (1st Mtg. Only)                 =      Reduce 25 bps
                     LTV        70%        75%        80%       85%         90%        95%                         Property:
  Mortgage         Highest                                                                                         Non Owner Occupied                                             =      Add 100 bps
   History          Score      Fixed      Fixed      Fixed     Fixed      Fixed       Fixed                        2nd-Home                                                       =      Add 75 bps
   0 X 30            700       8.95       9.10       9.40      9.70       9.95        11.02                        Condos & Townhomes                                             =      Add 50 bps
   0 X 30            680       8.95       9.10       9.40      9.70       10.15       11.17                        2 - 4 Family Dwellings                                         =      Add 75 bps
   0 X 30            660       8.95       9.20       9.55      9.85       10.15       11.36                        Loan Size:
   0 X 30            640       9.15       9.40       9.70      10.05      10.45       11.51                        1st Mortgages less than $50,000                                =      Add 50 bps
   0 X 30            620       9.25       9.45       9.80      10.10      10.45       11.51                        2nd Mortgages less than $50,000                                =      Add 50 bps
   0 X 30            600       9.40       9.60       10.00     10.40      10.70       11.64                        Doc: (Adjustment to Full Doc)
   1 X 30            580       9.60       9.85       10.35     10.70      10.95       12.10                        12 Months Bank Statements                                      =      Add 50 bps
   2 X 30            560       10.10      10.25      10.65     11.20      11.70       12.35                        Stated Income (Self-Employed Only)                             =      Add 75 bps
   4 X 30            540       10.70      10.85      11.20     11.80      12.35
   0 X 60            520       10.95      11.20      11.60     12.35                                               Important Pricing Notes:
   0 X 60            500       12.20      12.35                                                                    - Rates quoted above are based on 2 year prepayment penalty for 2/28 ARM's.
                                                                                                                   - Rates quoted above are based on 3 year prepayment penalty for Fixed 1st's.
                                                                                                                   - If a prepayment penalty is not allowed by state, please see pricing adjustment.
                                        Mortgage Upgrade                                                           - All Mortgages Must Be Current At Closing
                                        (Shaded Area)
                              The shaded areas require 0 X 30 Mortgage                                             Notes:
                                      History is last 12 months:                                                   Buydown          =     50 bps for 1 point. Max of 2 points allowed.
                                   560 Score with 0 X 30 = 95% LTV                                                 ( * ) = Required 2% Discount to MMLC due to Section 32
                                   540 Score with 0 X 30 = 90% LTV
                                   520 Score with 0 X 30 = 85% LTV
                                  To qualify for the mortgage upgrade                                              Prepayment Penalties:
                              borrower must have mortgage history. Rent                                            If prepayment penalty not allowed by MMLC, see rate adjustment above.
                                          history not allowed.                                                     Please refer to the MMLC Real Estate Fee Sheet for state specific prepayment
                                                                                                                   penalty guidelines and requirements.
                                                                                                                   Prepayment Penalty percentage based on 3% per year.
        Manufactured Homes                               Manufactured Homes                                        2/28 pricing based on 2 year PPP. 3/27 & Fixed pricing based on 3 yr PPP.
                75%                                              Notes:                                            To reduce: 25 bps to rate per year, max of 2 years
  Mortgage    Highest                              Full Doc Only                                                   One year PPP required on all loans where allowed by state.
   History     Score    Fixed                      Owner Occupied
   0 X 30    650 & Up   10.15                      Additional Loan Fee 1% for MH
   0 X 30    620 - 649  10.20
   0 X 30    600 - 619  10.35                      *2% Loan Fee to MMLC Required                                                              No Yield Available!
               *70%                                for all Manufactured Homes
                                                                                                                                             No Section 32 Loans!
   1 X 30    580 - 599  11.35                      No Section 32 Loans - APR must
   2 X 30    560 - 579  11.85                      be less than 13.0%


                                            A+                              A1                              A2                                B1                                  C1                                  C2
Credit Score
(Highest Score)                            600                   580         or        560      560         or        540         540          or        520                    520                                   500
Mortgage History                                                                                                                                                               0 X 60                                0 X 60
(Past 12 Months)                           0 X 30              1 X 30         or      0 X 30   2 X 30         or      0 X 30     4 X 30         or      0 X 30            (Unlimited 30s)                       (Unlimited 30s)
                                  2 years since discharge         2 years since discharge         2 years since discharge           2 years since discharge          18 months since discharge             18 months since discharge
Bankruptcy                              or dismissal                    or dismissal                    or dismissal                      or dismissal                      or dismissal                          or dismissal

Foreclosure                             4 Years                          4 Years                        4 Years                           4 Years                             2 Years                              2 Years
Maximum Loan                      Full Doc = $500,000              Full Doc = $400,000            Full Doc = $350,000               Full Doc = $350,000                 Full Doc = $350,000                  Full Doc = $350,000
Amount\                          Stated Doc = $400,000            Stated Doc = $300,000          Stated Doc = $250,000             Stated Doc = $250,000               Stated Doc = $250,000                Stated Doc = $250,000
Max.Seller Contr.                6% Seller Contributions.         6% Seller Contributions.       6% Seller Contributions.          6% Seller Contributions.            6% Seller Contributions.             6% Seller Contributions.
& CLTV's                               95% CLTV                         95% CLTV                       95% CLTV                          95% CLTV                            90% CLTV                             90% CLTV



                                                                            1st Mortgages
                                                     Low-Rise Condos,                                              Non-Owner Occupied                             FEES:
       Credit Grade                                   Townhome, Row                                                   Second Home                                 Loan Fee                                 1.50%
                                     SFR           Home, Attached PUD         2 - 4 Unit          SFR Rural          SFR, Low Condo,                              U/W                                  $     595
                               (Owner Occupied)     (Owner Occupied)      (Owner Occupied)     (Owner Occupied)      Attached PUD, TH                             Processing                           $     270
                                Full     Stated      Full      Stated      Full      Stated     Full     Stated       Full     Stated                             Flood                                $      14
             A+                 95%       80%        90%        80%        80%         N/A      90%       80%         80%       N/A                               Wire                                 $      50
             A1                 95%       80%        90%        80%        80%         N/A      90%       80%         80%       N/A                               Assign                               $      20
             A2                 90%       80%        90%        80%        80%         N/A      90%       80%         80%       N/A                               Doc Prep Fees                        $     200
             B1                 85%       75%        85%        75%        75%         N/A      85%       75%         75%       N/A
                                          Remember to use the HIGH SCORE
             C1
             C2
                                80%
                                75%
                                          70%        80%        70%
                                          Remember to use the HIGH SCORE
                                          70%        75%        70%
                                                                           70%
                                                                           65%
                                                                                       N/A
                                                                                       N/A
                                                                                                80%
                                                                                                75%
                                                                                                          70%
                                                                                                          70%
                                                                                                                       Maitland Mortgage Lending Compa
                                                                                                                      N/A       N/A

                                                                                                                       Maitland Mortgage Lending Compa
                                                                                                                      N/A       N/A




         Rates subject to change without notice. No Section 32 or High Cost Loans Allowed. Mortgage Lender License in FL and GA (#15 892). Max points and fees 5%. This information is for the use of
                                                                            mortgage professionals only. This is not an offer to lend.
                                          Remember to use the HIGH SCORE
                                                                                                                       Maitland Mortgage Lending Compa

				
DOCUMENT INFO