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" purchase with a sales price of $500,000 and a loan amount of $400,000. Rates are priced based on a low-mid credit score 740 or higher unless otherwise noted. This scenario includes reserves (taxes & insurance)not being waived. Rates quoted are priced based on a 45 day lock with no prepayment penalties.
Refi's are requiring a 60 day lock and therefore, a rate-term refi is approx. 0.125% higher in rate or higher in fee (points)...cash out refi's are a whole other story with Fannie/Freddie price hits.
30 Year Fixed Priced w/1 Pt: 4.875% (APR 5.030%).
15 Year Fixed Priced w/1 Pt: 4.375% (APR 4.637%).
10/1 ARM 5/2/5 CAPS w/1 Pt: 4.375% (APR 5.731%).
7/1 ARM LIBOR 5/2/5 CAPS w/1 Pt: 4.250% (APR 6.136%).
5/1 ARM LIBOR 5/2/5 CAPS w/1 Pt: 3.875% (APR 6.389%) ~ priced with 0 points: 4.125% (APR 6.393%).
Conforming High Balance. Pricing is based on the same criteria above (including zero points) except where the loan amount is $417,001 - $567,500 for properties in King, Snohomish or Pierce Counties; specifically priced for a sales price of $625,000 and a $506,000 loan amount.
30 Year Fixed w/ 1 Pt: 5.000% (APR 5.147%).
Jumbo/Non-Conforming. I now have jumbo loans available up to 1 million. The quotes below are based on a loan amount of $650,000 with 80% loan to value and 740+ credit scores.
30 Year Fixed w/ 1 Pt: 6.125% (APR 6.369%)
7/1 ARM w/ 1 Pt: 5.750% (APR 6.862%)
5/1 ARM w/ 1 Pt: 5.125% (APR 6.849%)
FHA. Pricing based on credit score of 620 or better and loan amount of $417,000 for FHA in King, Snohomish and Pierce Counties.
30 Year Fixed @ 1 Pt: 5.000% (APR 5.841%)
FHA 203(k) Rehab - Streamline. Pricing based on credit score of 620 or better and loan amount of $417,000 for FHA in King, Snohomish and Pierce Counties.
30 Year Fixed @ 1 Pt: 5.375% (APR 6.246%)
FHA-High Balance. Pricing based on 1 discount/origination point and loan amounts from $417,001 - $567,500 for King, Snohomish and Pierce Counties with credit scores of 660 or higher.
30 Year Fixed @ 1 Pt: 5.250% (APR 6.087%).
USDA Rural Housing. 100% financing subject to income and location of home (generally available in towns of 10,000 or less in a rural area).
30 Year Fixed @ 1 Pt: 5.250% (APR 5.584%)
VA. Pricing based on credit scores of 620 or better based on loan amount of $417,000. For VA loan amounts over $417,000, please contact me.
30 Year Fixed @ 1 Pt: 5.000% (APR 5.118%)
Prime Rate(what HELOCs are based on): 3.250%.
Rates are as of Thursday, July 10, 2009 at 2:30 p.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.
We are currently averaging several rate sheets per day in this volatile market with new rate sheets being issued about every 3 hours. For your personal rate quote with or without points, please contact me.
Most rates quotes above are priced with 1 point; 1 percent of the loan amount as an origination fee reflected a majority of the time on line 801 (line 808 in the rare event the mortgage is brokered and not closed in our credit line) of the Good Faith Estimate/HUD-1 Settlement Statement. Zero points means no points are paid or reflected on lines 801, 802 (Discount Points) or 808 of the GFE/HUD.
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