Rate Update

There are so many factors on EVERY loan that it can be dangerous to quote.  Keep in mind that rates can change hourly on busy days, so this is just a snap shot in time.  I want to try and show you how things are moving through each day.  Here are the factors I will be quoting:

Purchase, 20% down, owner occupied, single family residence, full documentation, 740 Fico score, $325,000 purchase price, and a loan amount of $260,000, taxes and insurance as part of monthly payment, 21 day lock.  (If any one of these factors are different, it COULD change the below rates.  This is just a barometer of the current rates).

30 Year Fixed with 1% in origination fee : 4.750% (APR 4.935%) ~ Priced 0% in origination fee: 5.000% (APR 5.099%).

5/1 ARM—3.625% (!!!) with 1% in origination, APR 3.789%

And for people putting down 5%?  They still look good for you!
5% down, 30 year fixed—5.000% ( APR 5.078%)!!! That is with .500% in origination.  Don't believe it when people say that you have to put down 10, 15, or even 20%! 

For loans that are at $417,001+, interest rates/guidelines are tighter.  Here is one of the best priced 30 year fixed rates out there:

Purchase, 20% down, owner occupied, SFR, full documentation, 740 FICO+, loan amount of $500,000.

30 year fixed with 1% in origination fee: 5.500% (APR 5.685%)

5/1 ARM- (different lender than 30 year fixed) with 1% origination fee, 4.650% (APR 4.781%)

ALL mortgage professionals are REQUIRED by LAW to report APR.  The real way to compare lenders is to look at RATE and ORIGINATION fee, from the two lenders, on the same day, at the same HOUR .  Keep that ALL in mind.

Keep in mind that I will compete for YOUR business, and I would love to compete!

Speaking of competing….

I thought I would try something new, and give you a comparison of what my biggest competition is offering today.  The main thing when shopping for an interest rate is to look at the rate offered, and then how much in origination the lender is charging.  I think that the lenders are actually under-disclosing APR (they can never get it right).  But, I am still beating them all!

Purchase, 20% down, owner occupied, single family residence, full documentation, 740 Fico score, $325,000 purchase price, and a loan amount of $260,000, taxes and insurance as part of monthly payment, 30 day lock.  (If any one of these factors are different, it COULD change the below rates.  This is just a barometer of the current rates). Rates as of 12/15/09, 11 AM.