The new "FHASecure Progam" may be coming out soon according to my Wells Fargo Bank Lender Reps reports that I have been receiving this week.
This will be a benefit to those who have adjustable ARM mortgages that are not currently an FHA loan and the interest rate has adjusted. If your interest rate has adjusted and you were delinquent on your loan due the adjustment, you may qualify for this special refinance program.
More information to come as it is officially released.
Conforming mortgage rates mentioned below are considered with loan amounts up to $417,000 for a single family residence and is owner occupied. It is with proving your income and a "full document borrower".
The rates quoted are based on a purchase price of $200,000 on a 30-day lock. On these conforming loans, there are no prepayment penalties involved.
Program | Rate | APR |
| 95% | 6.125 | 7.304 |
| 100% With Mort Insurance | 6.25 | 7.656 |
| 100% No Mort Insurance | 6.625 | 6.810 |
| My Community 100% | 6.625 | 7.559 |
| VA 100% | 6.0 | 6.816 |
| FHA 97% | 6.0 | 6.176 |
If you would like any additional scenarios done, please call for that information at 801-747-1233 and ask for Cindee or email to Cindee@CindeeStone.com
The above figures are deemed reliable but not guaranteed. This advertisement is being provided for informational purposed only and is not to be construed as a loan commitment of any kind. Actual loan qualifying is subject to verification and approval of income, credit, property, appraisal and other factors. Rates, fees, and programs are subject to change at any time without prior notice. A detailed good faith estimate will be prepared upon your application for a loan.
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