RATES & INFO FOR MARCH 9th 2009

LA MORTGAGE INC. a Rodeo Realty company
15300 Ventura Bl. #101 Sherman Oaks, CA 91403
Jeffrey Fink Email: jefffink@lamortg.com
Mobile: 818-723-1638 Office: 818-986-7300 ext 120 Fax: 818-986-1066
CONFORMING, JUMBO,BRIDGE AND REHAB LOANS


Conforming Limits: $100,000 to $417,000 March 9, 2009
Rates
5.25% 30-Year Fixed


HIGH CONFORMING



Conforming: $417,001-$625,500
Rate: 5.625% 30 Year Fixed
Rate
JUMBO LOANS

LOAN AMOUNTS $625,501-$10,000,000
5 Year Fixed 5.75 %
10 Year Fixed 6.25%
Interest only available

FHA LOANS LOAN AMOUNTS TO 96.5% LOAN TO VALUE30


30 Year Fixed $100,000-$ 362,000 5.0 %

$ 362,500 -625,500 5.5%

Rates are based on a 1- 1.5 point origination and are subject to fico scores, loan to values and dwelling type and occupant status rates can change without notice. Rates are constantly changing so call me for updates

There are a lot of changes taking place every day and clients have a lot of questions so please do not hesitate to have your clients call me.

Remember that LA Mortgage is a mortgage broker and we do refinancing as well as purchase money loans.

Stable Market Changes:
LTVs > 90%: Eliminated. New maximum LTV is 90%
LTVs > 80%:
Minimum Credit Score: Increased from 620 to 700
Max DTI: Maximum DTI of 41%, regardless of AUS decision
Tradelines: Minimum 3 tradelines required
Payment History: Minimum payment history 0 x 30 x 12 required
Reserves: Minimum 2 months reserves required, regardless of AUS decision
Pay off of Subordinate Liens: Will now be considered cash-out and will not be allowed for LTVs > 80%
Second Home: Maximum LTV lowered from 90% to 80%
Cash-Out: Maximum LTV lowered from 85% to 80%
Non-Conforming: Maximum LTV lowered from 90% to 80%
Soft Markets Changes:
LTVs > 80%:
Min Credit Score: Increased from 680 to 720
Condos: Maximum LTV lowered from 95% to 85%
Interest-Only: Maximum LTV lowered from 90% to 80%