I just learned about a new and exciting 4.75% Jumbo loan interest rate program today. Do you want a lower rate? Pay one point and the rate falls to 4.25%
I know a few people who are sitting on the fence, because of the Jumbo rates. Maybe it's time to think about taking action!
With this great interest rate, you can start looking now for your Newport Beach dream home.
But before we get ahead of ourselves, let's make sure you like the program.
Here are the details:
- $3,000,000 maximum loan amount
- Purchase money only at these rates however refinances are available
- 25% down payment required
- 680 minimum FICO score
- Full documentation required for qualifying
- 3 Year Fixed rate product
- 4.75% at 0 points loan origination
- 4.25% at 1 point loan origination
- 12 month prepayment penalty applies
- Interest only option available at .125% higher rate.
Don't like paying points? With 35% down you can get the rate down to 4.50% That's not shabby!
These aggressive rates are difficult to find. First Capital Mortgage, considered a preferred customer, is being offered these rates by the lender.
For more information, you can contact Tim Sibley, First Capital Mortgage, directly by calling 949.718.1511 or by e-mail: tsibley at firstcapitalmtg dot com. Tim is our in-house "go to" guy when it comes to getting the best rates and service. He just can't be beat!
For a quick look what is happening now in the Newport Beach real estate market, check out my charts for Market Trends. You can also sign up for automatic chart delivery.
What do you think is happening with the Jumbo market? Do you think this is the beginning of lower Jumbo rates...or is this just a momentary low, to be followed by higher rates?
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