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Jinn Rating

Your L.E. will be assessed for a Jinn rating that ranges from Eminence to Commoner. This rating uses proprietary scoring metrics accounting for market rate, closing costs and other fees, APR to note rate, terms and loan features, prepayment penalties, float-down options or costs. Recommendations may be suggested or implied.

Evaluation Descriptions

EMINENCE

Your loan estimate contains all of the following: rate is below market, there are no junk fees, minimal APR to Note rate disparity. Loan features provide all the same in Master category with addition of free float down. Best program with the lowest rate to cost ratio. Less than 5% of all loans fall into this category most mirror employee discounts. Recommend locking in not already.

MASTER

Perhaps you have been here before. The combination of rates and fees is very competitive. Minimal areas to improve on rate, fees, or APR. There are no prepayment penalties. Features include terms to make assumable, or flexibility to recast payments. The APR to note rate is in at or below national average. Considerations for a second opinion are minimal. 16% of all L.E.'s qualify.

JOURNEYMAN

Features may reflect the going market rate and standard fees for loan product. Ratio of Note Rate to APR is average to market. Areas of improvement may call for a substitute product, different structure, or reconsideration of rate & fees. Better terms available for product choice and shopping recommended. 41% of all loans fall into this category.

APPRENTICE

Rate and fees are higher for program that is not specialty. Fees are junk, unnecessary, or unreasonable. Loan may have prepayment penalty or terms that limit flexibility to improve loan. Possible lender misquote, floating rate application, or out of market lender. Slightly above market APR, rates or fees and opportunity to improve. Shopping is encouraged. 30% of L.E.'s receive this rating.

COMMONER

Loan estimate discloses unnecessary fees or points and extreme Note Rate to APR ratio. Additional details may be requested to justify program or structure. Jinn does not recommend this loan and may provide alternatives. Loan may be high cost mortgage transaction or seller carryback financing. 14% of L.E.s receive this description.

The Sim-Sim-Salabim in 3 easy steps...

STEP 1

SUBMIT INQRUIY

If you are interested in receiving a review, start by submitting your contact information on the home page. We will notify the Mortgage Jinn a new master beckons for the next step.