Jumbo Loan Exclusive

March 2, 2022 - Russia has invaded Ukraine, crude oil is above $100 a barrel, natural gas has more than doubled, the supply chain is still stuck, there is a severe computer chip shortage, farmers are going to have high expenses to pass on, housing is very unpredictable, highest inflation since the 1980’s, and the list goes on and on.

In the face of an erratic and unpredictable market, we have good news for jumbo borrowers. Long Grove Mortgage can help leverage unusual market conditions, and manage future uncertainty.

Our best jumbo lender has expanded the pricing for mortgages over $1,000,000.

We can now offer qualifying borrowers 10/6 SOFR ARM at 3% interest.

Highlights

(Current as of March 2, 2022)

• 3.000% interest

• Up to $2.5 million

• 3.062% APR

• 10/6 SOFR ARM

• 5/1/5 caps

• 3% margin

• There is a 0.25% credit of the loan amount for closing costs. Use that credit for closing costs, interest, and escrow set up.

  For example: $1,500k x 0.25% = $3,750.00 credit.

• No points.

• Closing cost: $2,215 w/title, plus $350 escrow waiver fee.

• APR includes 31 days interest, plus all fees.

• 720 middle credit score required for all borrowers.

• Loan to value >70% add 0.125% to the rate.

• 360 month amortization, no balloon, first interest rate can change after 120 months and every 6 months.

Benefits

With this program, we can insulate against market volatility. Here's how.

• Lock in this rate for 10 years.

• If rates go up – you are protected.

• If rates go down, we refinance you (again, with no closing costs) into an even lower rate.

Long Grove Mortgage has been in business for over 30 years and we specialize in jumbo mortgages. Our experience and expertise are proven in these challenging times.

Are you or a client a candidate for a jumbo refinance?

Call or email to discuss:
847-634-2252 • info@longgrovemortgage.com