Just a reminder: Mortgage Master will be closing at 3:00 p.m. today for our Ho-Ho-Holiday Party. On behalf of everyone at Mortgage Master, we wish you all a wonderful Holiday Season and we thank you for your support. Merry Christmas!
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied, "full doc" with minimum credit scores of 680 with an 80% loan to value or lower, a loan amount of $400,000, and with reserves (taxes & insurance) not being waived. Rates quoted are priced based on a 45 day lock with 1 point and there are no prepayment penalties on any of the rates quoted below.
30 Year Fixed: 5.875% (APR 6.021%). Payment per $1000 = $5.92.
30 Year Fixed with 10 Year Interest Only: 6.250% (APR 6.381%). Payment per $1000 = $5.21.
40 Year Fixed: 6.625% (APR 6.766%). Payment per $1000 = $5.94.
5/1 ARM (2/2/6 caps): 5.625% (APR 7.065%). Payment per $1000 = $5.76.
5/1 ARM 10 Year Interest Only Payments: 5.875% (APR 7.195%). Payment per $1000 = $4.90.
FHA/VA 30 Year Fixed: 6.1250% (APR 6.779%). Payment per $1000 = $6.08. (not including MI for FHA).
JUMBO (Non-Conforming) Rates. Pricing is based on the same criteria above, with the exception that the loan amount is $417,001-$650,000 (20% down).
30 Year Fixed: 6.750% (APR 6.901%). Payment per $1000 = $6.49.
30 Year Fixed with 10 Year Interest Only Payments: 6.875% (APR 7.027%). Payment per $1000 = $5.73.
5/1 ARM: 6.375% (APR 7.356%). Payment per $1000 = $6.24.
5/1 ARM Interest Only: 6.375% (APR 7.375%). Payment per $1000 = $5.31.
Please do not select your Mortgage Professional by interest rates alone and do not shop rates by APR. This is just a small sample available of rates and products. Rates are as of Friday, December 21, 2007 at 10:00 a.m. and may change at any time. Available programs may change at anytime as well. This is not a guarantee nor is it a commitment of interest rate. For your personal rate quote or for loan amounts over $650,000, please contact me.
