The last year has been a period like no other for the mortgage and real estate industries. I'm happy to report that AimLoan.com has not only weathered the economic storm, but actually expanded its market share, as many of our competitors have exited the industry.  

Prime Credit Specialists

While other lenders ventured into "sub-prime", "no doc", "negative amortization" and "teaser rate" mortgages over the past several years, we continued to specialize in what we’ve always done best: making full-doc “prime credit” mortgages to borrowers with good credit and the ability to document their income. 

Our disciplined approach to lending served us well and we are not suffering from the problems that other lenders are now facing. Nationwide, over 10% of all mortgages are over 30 days delinquent or in foreclosure. Less than 1% of the 20,000 mortgages we have originated are in this troubled status.

Rates Fall to Historic Lows

Rates are still near their 40 year lows. Our 30-Year Fixed is at 5% at zero points and our 15-Year Fixed is at 4.375% at zero points. If you’re willing to pay points, you can buy these rates down even lower!.

 Click Here for a Custom Rate Quote. If you like what you see, you can apply online, receive an online approval and lock your rate, anytime 24/7!

Conforming Loans Temporarily Increased to $729,750

“Conforming” loans are mortgages Fannie Mae and Freddie Mac are authorized to purchase by federal regulation. They carry lower interest rates than “Jumbo” loans that exceed the conforming loan limits.  The American Recovery and Reinvestment Act of 2009 increases conforming loan limits in “high cost” housing markets through December 31, 2009. 

These “Super Conforming” limits are set equal to 115 percent of local median house prices up to a maximum of $729,750.  To view a list of high cost markets and Super Conforming limits by market, click here.

105% Refinancing Option for Some Borrowers

Another provision of the economic stimulus act created the Home Affordable program, a refinance program designed for homeowners who pay their mortgage on time but have little or no equity in their home. If the existing mortgage does not have PMI, the new loan will not require PMI! This program will be available through June 2010. To qualify, your current loan must have been sold to Fannie Mae or Freddie Mac (most loans with balances under $417,000 have been). Additionally, the property must be your primary residence and your mortgage payments must have been made on time during the past 12 months. To learn more about this program and view rates, click here.

On behalf of the associates of AimLoan.com, I thank you for your support over the past 11 years.

Sincerely,

Vince Kasperick
Founder and President
AimLoan.com