Interest Rate Update

The following are interest rate quotes from Al Hermann of American/California Financial Services :

Conforming 30 Yr Fixed up to $417,000
5.250% Rate
5.393% APR
Pricing based on 740 credit score, 65% Debt to Income Ratio, 80% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR
 
Conforming 30 Yr Fixed $417,001 – $625,500
5.750% Rate
5.889% APR
$729,750 limit available
Pricing based on 740 credit score, 55% Debt to Income Ratio, 80% Loan to Value Ratio, $625500 Loan Amount, 30 Lock Days, Qualified Borrowers Only. When Mortgage Insurance is applicable, it is not calculated in the APR
 
FHA 30 Year Fixed
5.500% Rate
5.655% APR
Pricing based on 680 credit score, 55% Debt to Income Ratio, 96% Loan to Value Ratio, $417000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.
 
Jumbo 7 Year ARM
6.000% Rate
6.096% APR
Pricing based on 740 credit score, 39% Debt to Income Ratio, 70% Loan to Value Ratio, $950000 Loan Amount, 30 Lock Days, Qualified Borrowers Only.

 

The following quotes are from Michael Cordovamichaelc@milestonemtg.com  from Milestone Mortgage:

 

June 22, 2009

 

 

FIXED RATES CONFORMING JUMBO

 

 

  Rates Points Rates Points
  30-Year Fixed Rate 5.250% 1.000 6.375% 1.000  
             
  30-Year Fixed Rate FHA 5.500%   5.750%    
             
  HYBRID ARMS          
             
  5/1 ARM 4.250% 1.000 5.050% 1.000  
             
  7/1 ARM 4.750% 1.000 5.650% 1.000  
             
  10/1 ARM 5.000% 1.000 5.900% 1.000  
             

 


 

 

INTEREST ONLY Rates Points Rates Points

 

HYBRID ARMS        
             
  5/1 ARM 4.375% 1.000 5.150% 1.000  
             
  7/1 ARM 5.000% 1.000   1.000  
             
  10/1 ARM 5.375% 1.000   1.000  

For more information about Financing your purchase of a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com

About mmegowan

I am a realtor with Remax Estate Properties in Palos Verdes Estates. Visit my website at http://www.maureenmegowan.com
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