Welcome to Integra Mortgage and Investment

As a True Professional Mortgage Brokerage Business (unlike Banks or Lenders) we strive to offer each customer a unique funding-matched solutions with the best combination of rate, costs and program features for each individual's needs, AND LOW RATES with GREAT PRICING! Often that means solving specific issues, both known and unknown, prior to underwriting a final loan application (i.e. credit, title, debt restructuring, appraisal, etc...) in order to reduce or improve the final price (Points or Credits) and expand the qualified options available to you. We have worked with thousands of borrowers and hundreds of different funding sources over the past 40+ years, each having different needs, requirements, options and benefits... it pays to have experienced professionals working in your corner. 

Mortgage Loan Program Options Table (Rate Sheet):
Program Name
Rate           Discount APR Closing TIP

15 Year Fixed - Brokered Conforming Borrower Pd.
RatePointsAPRLock Days
2.750%-0.165%2.981%15
The APR is calculated using a loan amount of $484,000 and these typical fees.


30 Year Fixed - VA to VA Insured Refinance (IRRRL)
RatePointsAPRLock Days
3.000%0.989%3.092%15
3.250%-0.079%3.258%15
The APR is calculated using a loan amount of $484,000 and these typical fees.


30 Year Fixed - Brokered Conforming Borrower Pd.
RatePointsAPRLock Days
3.250%-0.133%3.381%15
The APR is calculated using a loan amount of $484,000 and these typical fees.


30 year Fixed - ** NO CLOSING COST ** Conforming
RatePointsAPRLock Days
3.875%-0.429%3.872%15
The APR is calculated using a loan amount of $484,000 and these typical fees.


30 Year Fixed - ** NO CLOSING COST ** FHA Insured
RatePointsAPRLock Days
3.500%-0.919%3.815%15

*All rates and programs are subject to loan underwriting and approval and may be subject to change, depending on your individual credit profile and other qualifications. APR items do not denote all closing costs items or escrow deposits, a transaction specific Loan Estimate will be issued within 3 days of receiving your completed loan application. The Housing and Economic Recovery Act of 2008 (HERA) requires that the maximum conforming loan limit, for mortgages to be acquired by Fannie Mae and Freddie Mac, be adjusted each year to reflect the change in the average U.S. home price.  For 2019 the Federal Housing Finance Agency (FHFA) has capped Agency Limits at $484,350 for one-unit properties. Loan rate table(s) above are best case scenario, for borrowers with excellent credit, up to 60%ltv, with typical fees of $995 for loan underwriting, $425 appraisal, $250 closing, origination fee as noted, and discount points +/- (credits) as noted. Credit Limit for FHA insured loans is 314,827. Note: Designated High-Cost areas have higher allowable loan limits, and loan limits for multi-family 2-4 unit properties are also higher.

 

Call Us to Understand Your Options 
and the Benefits of our Solutions!

 

Special Loans to pay Closing and Insurance costs are available in conjunction with certain programs.

* Special Portfolio Programs are Available on a Restricted Basis *

 

 

For Example:
We can Pay all of your closing costs...
Closing cost credit are always available... 
Expected 'Duration' affects your yield and costs...

Closing cost YSP $$ credits to YOU are always available... 
We can structure the loan amortization for any term (i.e. 23 years)...
a $30 credit rescoring could save you $3,000 in closing costs!...
2nd 'Combo-loans' can be both cheaper and better than Mortgage Insurance...
Mortgage Insurance can be structured over 10 different ways all with different costs...
 
 

Buy-ups and Buy-downs

Most lenders' rate sheets are structured with 0.125% increments between actual note rates.  For any given RATE there is a COST associated.  It's important to note that a cost can be positive OR negative (credits).  This means that some rate levels allow for a (CREDIT) to pay some or all of the borrowers' closing costs.  It is almost always the case that higher rates have lower costs.  In other words, a borrower may have to pay all closing costs in one rate level, or *No Costs* at a higher rate.

Borrowers can also pay up front Discount Points in order to BUY DOWN the rate even further.  Dependent upon the cost differential, this may or may not be advisable relative to the borrowers' personal preferences and break-even time required for paying the extra costs at closing (instead of simply paying more interest each month over time). This can be advantageous when purchasing a property, because there can be Tax Advantages for borrowers who itemize their expenses (vs standard deductions) reducing the true after-tax cost. 

Every situation needs to be looked at individually, because the true financial analysis for calculating a break-even period is different for every borrower and situation. Both buy-ups and buy-downs (costs to move higher or lower in rate) can vary greatly from rate to rate, and from lender to lender.  For example, on a $200,000 loan, it may only cost $800 to move to the next .125% lower in rate whereas the next .125% could cost $1600. Comparative analysis depends upon what you are comparing something to. Is it apples to apples, or apples to oranges? More than simple math the analysis depends upon real-world factors such as the individual's assets, income, jobs stability, investment philosophy, alternative investment options, and believe it or not personal psychological well-being. Risk adverse borrowers tend not to choose to pay points to buy down the rate, when they are often exactly the borrowers who can financially benefit the most from a rate buy-down.

Best-Execution: The Sweet Spot

We always strive to save our clients money and structure the best mortgage loan for their situation. The variations in the buy-ups and buy-downs create sweet spots where the combination of COST and RATE is more financially efficient over time.  While there is some inherent degree of subjectivity in assessing this sweet spot, there are also several objective factors that help determine Best-Execution.

In general, our Best-Execution rate recommendation will be the most efficient combination of rates and fees at a cost level that typically allows most borrowers to break even in 40 months. However, for your particular situation it may be slightly different.



Best-Execution Vs. Day-Over-Day Changes In Rates

Because loan rates are generally offered in 0.125% increments, covering a basis range of ~0.75 points in wholesale cost, it's uncommon for the market to move enough +/- during a given day to cause the Best-Execution Rate to adjust +/- to the next 0.125% rate level.  However, mortgage bond markets are always moving up and down in fractional basis point increments (trading in increments 1/1,000th), subject to many different factors, and so on any given day the points COSTS associated with specific RATES are moving incrementally.  These floating inter-day and intra-day variations are accounted for by fractionally adjusting the points paid or (credit) received until the application is complete and a given program can be committed for advance-lock for a set period of time. Locking-in is a commitment to insure you and hedge against future movement in mortgage bond prices and interest rate changes over a given time until the specific loan can close, fund and the documentation is completely delivered to the end investor. There is always a cost to hedge against market movements embedded in a rate quote, and the longer the time period requested the greater the cost. 90+ days are possible with advance lock-in hedging fees, but generally a 15 or 30 day hedging cost is quoted with a given rate. But costs fluctuate between lenders, and even locked rates can often be later modified or renegotiated, dependent upon underlying market volatility and movements. So, determining the best execution today also includes analysis and prediction of both general and transaction specific risk factors which may influence pricing over the next 15 to 60 days.

In the cases of both the Best-Execution rate and the daily changes seen on the mortgage rates page, please keep in mind that there are numerous borrower-specific variables that can affect loan pricing for any given scenario.  The same best-execution will not apply to every borrower in every scenario and advertised rates are generally on the more aggressive side of the market.  They assume an ideal scenario with top tier credit qualifications and 'usual' time frames.

 

Great service, expert advice, years of experience and well-managed expectations are worth a lot, (that's Integra Mortgage and Investment ) but that's something we can't easily quantify as a $$ figure for you.  A smooth and timely mortgage process, best execution, good advice based in experience, proactively avoiding problems, and reducing risk before closing can often times end up saving you a lot of money!

At the end of the day, we believe you should fully understand your options, and be comfortable with whatever choice you make. It's our job to manage the entire loan process, structure the best loan for your situation, and achieve the best-execution possible for you... That is our promise, it's what we love to do, and it is exactly why we have over 40+ years worth of satisfied customers!

Current posted rates are in effect as of 08/10/2019 3:24:36 PM Central Time.

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