Interest Rates 8/20/2010

Rates as of 8/20/2010:

30 year fixed, conventional: 4.125%           30 year fixed, FHA/VA: 4.25%         30 year fixed, Jumbo: 5.00% 

15 year fixed, conventional: 3.75%             5 year ARM, FHA/VA: 2.875%        5 year ARM, Jumbo: 4.125%      

5 year ARM, conventional: 2.75%

7 year ARM, conventional 3.00%

Note: these rates are for purchase-money, $125,000 loan  or greater, single-family, owner-occupied transactions only. Credit score adjusters may apply.  Rates quoted are for 60 day locks ... please call for a specific quote.

Did You Know?

* Lender Paid Mortgage Insurance allows us to offer up to 95% financing without a PMI premium to the borrower.   This is a great option for someone who will not be in the home long-term or who wants/needs a lower monthly payment.  For example, principal, interest, and  PMI is $972.71 on 90% financing with PMI for a $200,000 home. Or $921.90 without a PMI premium!  That payment of $50/month less becomes $65/month less on 95% financing!

* Fannie Mae "HomePath" financing is available on Fannie Mae-owned, HomePath Mortgage-eligible properties.  The program allows for 97% financing on  primary residences; 95% on investment property!  New appraisal not required, so your buyer saves money and avoids appraisal problems! Go to www.homepath.com to view eligible properties.