Mike’s Real Estate Show

Rates as of 6/15/07   

The first part of this week we saw loan rates increase as the yield on the 10 and 30 year bonds edged to their highest levels.  Mid week, we saw a stabilizing in the yield and yields began a bit of a decline.  So here we are today, with bonds continuing to rally – which is good for mortgage rates.  I’ll be watching what happens as there are some ceilings of resistance, but today looks much more optimistic than last week did, even though some of the rates quoted are about the same.  Remember – all rates quoted are without points – lower the rate by buying down the rate and paying points.  Ask me how.

Now could be a great time to talk with sellers about offering to buy down rates for buyers!  How better to make their home more attractive than to offer to buy down the rate for the seller!  To buy down the rate, the seller would be requires to pay 1.5% to 2% of the loan amount to get the rate down to 6%, as of today’s conforming rates.  A Sampling of today’s rates follows – all rates are quoted without points.  You can buy down the rate buy paying points (1 point = 1% of the loan amount; 1 point will not buy down the rate one percentage point.  Please contact me for details and actual buy down rates)

Conforming                 fully amortized                        interest only

30 year fixed               6.625 %                                   6.875%

3/1 ARM                     6.50%                                      6.625%

5/1 ARM                     6.625%                                    6.75%

7/1 ARM                     6.75%                                      6.875%

                                    fully amortized                        interest only

JUMBO – up to $1million

30 year fixed               6.875%                                    6.875%

3/1 ARM                     7.25%                                      7.25%

5/1 ARM                     7.375%                                    7.375%

7/1 ARM                     7.375%                                    7.375%

10/1 ARM                   7.25%                                      7.25%

100% financing:          Mortgage Insurance may also be an option – here are some possibilities without MI.

 30 year fixed – 80/20  - Conforming loan amount on the first           7.125% 1st / 10.25% 2nd – assumes 680 credit score and full document loan for 2nd pricing – better score, better pricing on the 2nd

30 year fixed – 75/25 – Conforming loan amount on the first           6.875% 1st / 10.25% 2nd – assumes 680 credit score and full document loan for 2nd pricing – better score, better pricing on the 2nd

Call for information on Blended rate 100% options with No MI.

Other loan options… I can provide additional loan options, including Alt-A loan products, Option ARMS, the Flexible Hybrid ARMS, Commercial loans, Home Ownership Accelerator Program, Construction Loans, Loans for Investment Property, Community Lending Program for those who might not qualify for traditional loans and much, much more!

Here’s the fine print:

Conforming limit is $417,000.00.  Rates assume impound account set up and except for 100% financing, assumes loan to value (LTV) no more than 80%.  Funds to be used for purchase.  Cash out refinances may incur higher rates.  Rates quoted with a 30 day lock.  Subject to qualifying borrowers and properties.  Rates quoted for fully documented loans.  Rates are as of 6/15/07 and are subject to change.  Rates are quoted WITHOUT points.  Borrowers may buy down the rate.  Each application is evaluated on an individual basis.  There may be better suited programs for borrowers the may offer better rates/terms as well as options for non-qualifying borrowers. 

 Alicia Hodenfield  Investors Trust  (707) 284-2718 direct line  (707) 483-5299 cell