Interest Rates from Pete Phillippe, Indy Mac Bank: Adjustables make a comeback!
March 27th, 2008 . by Mike KellyHere are Pete’s rates as of Thursday. if you have any questions please feel free to give him a call at: Cell 707-481-2737 or 707-535-1263 direct
Up to $417,000 30 yr fixed is 5.875 at 1 pt The 30/7 programs are at 5.5% with 1 pt, the 30/10 is at 5.626% at 1pt.
FHA 30yr fixed 6.0% 1 pt. . . . easier to qualify with FHA. .up to $362,790 . . . . . to $662,500 rate at 6.125% At 1 pt . . . refinances to 90% ltv with no 5% reduction in loan amount due to “declining market “ if noted by appraiser . FHA is always full documents and NO STATED INCOME!
$417,000 to $662,500 , 30 yr fixed is 6.625 at 1 pt . Full doc, SFD owner occupied only, 90% ltv purchase with 700 ficos, 80% max ltvs with 660 fico. On refinances 75% ltv’s , FHLMC will now allow $100,000 cash out , payoff of seconds now ok , but no stated income deals .
Over $662,500 30 yr fixed is 7.125 pt, the 7/1 is at 6.625 1 pt 80% ltv to $2,000,000
Purchase . 75% to $3,000,000 on purchases
Aprs not calculated, full doc examples with 680 fico scores . . .30 day locks shown on rates
Stated income ,40 yr terms, interest only loans, available . . . Rates and points can change depending upon loan to value, credit scores and purpose of loan. Information intended for the Real Estate community only, Equal Opportunity Lender, rates and programs subject to change
