Hoboken Mortgage Rates

From the IHRE Mortgage guy...

REVISED June 1st, 2010---- 10:00 AM ET

Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 4.750%/ 4.762% APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.395% APR

15 YEAR FIXED----------------------------- 4.250%/ 4.263% APR

5 / 1 ARM------------------------------------- 3.625%/ 3.347% APR

7/1 ARM ------------------------------------ 4.000%/ 3.721% APR

* All quotes are with 0 points

*Investment Properties --- ** Add 1.75 points (if 25% down)**

*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS (loans greater than $417,000, but less than $729,500)

30 YEAR FIXED ------------------------- 5.000%/ 5.069% APR

15 YEAR FIXED ------------------------- 4.375%/ 4.434% APR

** Loan amount restrictions based on county and property type.

***There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000.. up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 5.625%/ 5.643% APR

30 YEAR FIXED INTEREST ONLY-- 5.875%/ 5.902% APR

15 YEAR FIXED--------------------------- 4.625%/ 4.642% APR

5 / 1 ARM------------------------------------- 4.375%/ 4.316%APR

7/1 ARM -------------------------------------- 4.625%/ 4.556% APR

** All non-conforming loans need to be discussed in detail

** ARM rates on jumbo products would be lower with a 25% down payment or more

*** Special Program 15/ 30 ARM -----4.750% / 4.698% APR -- .50% Points --- Loans up to $1,000,000!!!

**Please call for rates on loans over $1 million or rates on FHA loans**

Michael Mundy Pinnacle Mortgage, Inc. mmundy@pinnaclemortgage.biz www.mundymortgages.com