New Jersey Jumbo Mortgage Rates: Our true jumbo mortgage rates continue to trend downward this week in all counties of New Jersey.  Despite the 2009 conforming loan limit remaining at $440,000 to $729,000 in New Jersey, we still are able to offer affordable financing to qualified borrowers for purchases as well as refinances for jumbo loans over the current conforming loan limit in your particular county.  My company, First Interstate Financial Corp., currently has established relationships with several investors that allow us to offer excellent New Jersey Jumbo Mortgage Rates. 

Currently we have the following New Jersey Jumbo Mortgage Rates with 0 points as of business close on 9/18/2009*:

30 Year Fixed 5.625%            5.68% APR          

10/1 ARM       5.125%            5.07% APR  

7/1 ARM         4.5%               4.54% APR                                          

5/1 ARM         4.125%            4.18% APR

 *Please call  for specific quotes*,  due to market fluctuation and guidelines, our New Jersey Jumbo Mortgage Rates can vary depending on your particular scenario. 

Our New Jersey Jumbo Mortgage Rates can vary from the low 4% range to mid 5% range, depending on whether you are looking for a higher loan-to-value or a fixed rate or adjustable rate loan.

Typical minimum FICO scores of 680/700.  FICO scores are considered to be more a general indicator for this program, and the overall credit picture is reviewed more so than simply a number.  Full Doc loans only.  Subject to verification of post closing assets and full underwriting.

Currently with loan to values of up to 80% on purchase money/rate term/cash-out refinances to $800,000, up to 75% on purchase money/rate term/cash-out refinances up to $1,500,000, and up to 70% Financing to $2,000,000.  There are also great programs for second home financing.  Loan-to-values depend on the specific program you are qualified for and can vary.

We also offer competitive pricing on FHA, VA and Conventional Loans in NJ, as well USDA loans in qualified RD areas. Stated Income programs are also slowly making a comeback as well.

* Not a commitment to lend.  Other programs available.  Jumbo Loans are a brokered product.  Equal Housing Lender.  Licensed in CA,CO,CT,DE,FL,GA,MA,MI,MO,MT, NJ, NY,PA,TX,SC,VA. Add-ons required for loan amounts over 1 Million on certain products.

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