Alicia Hodenfield’s Interest Rate Update–It’s a matter of trust or “Where’s the bottom?”
February 16th, 2008 . by Mike KellyRates as of 2/15/08
ARMS are priced very competitively today! ARMs are Fixed for a period and then adjust after that fixed period to the current 1 year LIBOR plus a margin of 2.25% (Today the 1 year LIBOR is 2.730%) with a cap rate, depending on the loan, of 5 or 6% over the initial rate, example if today’s rate is 5.125% and the rate should go up to the maximum rate of 5% over the initial rate, it would be 10.125%. Depending on how long the borrower plans on being on the home and how comfortable they feel with risk, the ARM’s could be a great option. Today’s rates quoted are a small sample of current rates (quoted as of 10:15am) – all quoted without points- call me about rates with point(s), different loan products and requirements! (707) 284-2718
Conforming fully amortized interest only
30 year fixed 6.25% 6.50%
3/1 ARM 5.125% 5.125%
5/1 ARM 5.00% 5.00%
7/1 ARM 5.375% 5.375%
10/1 ARM 5.625% 5.625%
Jumbo fully amortized interest only
30 year fixed 7.00% 7.00%
3/1 ARM 6.125% 6.125%
5/1 ARM 6.25% 6.25 %
7/1 ARM 6.50% 6.50%
10/1 ARM 6.875% 6.875%
Give me a call for details and other loan options!
Here’s the fine print:
Conforming limit is $417,000.00. Rates assume credit score is 680 or higher, impound account set up and 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 subject to change. Rates are quoted WITHOUT points. Borrowers (and/or sellers) may buy down the rate. Please note: Loan rates may be better for lower LTV’s and higher credit scores. 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
Licensed by California DRE #01104067/Salesperson License #01501465
“I advise you to say your dream is possible and then overcome all inconveniences, ignore all the hassles and take a running leap through the hoop even if it is in flames.” — Les Brown
Oh by the way, if you know of someone thinking of purchasing or refinancing a home, who would appreciate the kind of service I offer, I’d love to help them. As these people come to mind, just give me a call with their name and number. I will be happy to follow up and tend to their real estate financing needs.
