Interest Rate Update, July 20, 2007
July 20th, 2007 . by Mike KellyRates as of 7/20/07
Just a reminder… I can provide financing options beyond what is quoted on this rate update! This is just a taste, a sampling, a bite or nibble of the smorgasbord of loan options I can provide you and your clients including:
~ Lot Loans ~ Construction loans Stated Income ~ No Doc ~ No Ratio
~ Option ARMS ~ Flexible Hybrid ARMS
Give me a call for more information about different loan products and requirements!
Conforming fully amortized interest only
30 year fixed 6.50% 6.75%
3/1 ARM 6.25% 6.375%
5/1 ARM 6.375% 6.50%
7/1 ARM 6.50% 6.625%
10/1 ARM 6.75% 6.875%
fully amortized interest only
JUMBO – up to $1million
30 year fixed 6.875% 6.875%
3/1 ARM 7.00% 7.00%
5/1 ARM 7.00% 7.00%
7/1 ARM 7.00% 7.00%
10/1 ARM 7.125% 7.125%
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 6.875% 1st / 10.375% 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 6.75% 1st / 10.375% 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. I will evaluate and consult with client whether mortgage insurance is a better option.
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 7/20/07 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 Mortgage
(707) 284-2718 direct line
