Did the ’sweetheart’ home loans libs got have any influence in their vote to give mortgage lenders your money?

makeamericagreat asked:


Today, The Washington Post Reported That Obama Received A Sweetheart Mortgage Deal For His Chicago Mansion:

Obama Received A Discounted Rate On His $1.32 Million Mortgage For His Georgian Mansion In Chicago. “Shortly after joining the U.S. Senate and while enjoying a surge in income, Barack Obama bought a $1.65 million restored Georgian mansion in an upscale Chicago neighborhood. To finance the purchase, he secured a $1.32 million loan from Northern Trust in Illinois. The freshman Democratic senator received a discount. He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

* “The Loan Was Unusually Large, Known In Banker Lingo As A ‘Super Super Jumbo.’ Obama Paid No Origination Fee Or Discount Points, As Some Consumers Do To Reduce Their Interest Rates.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

Obama’s Discounted Rate Could Have Saved Him More Than $300 Per Month. “Compared with the average terms offered at the time in Chicago, Obama’s rate could have saved him more than $300 per month.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

The Obamas Secured Their Discounted Home Loan Despite The Fact That They Had “No Prior Relationship With Northern Trust When They Applied For The Loan.” “The Obamas had no prior relationship with Northern Trust when they applied for the loan. They received an oral commitment on Feb. 4, 2005, and locked in the rate of 5.625 percent, the campaign said. On that date, HSH data show, the average rate in Chicago for a 30-year fixed-rate jumbo loan with no points was about 5.94 percent.” (Joe Stephens, “Obama Got Discount On Home Loan,” The Washington Post, 7/2/08)

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