RATE UPDATE!!! 2.5% AVAILABLE!!! 2.602% APR

By
Mortgage and Lending with Wholesale Mortgage Services Individual NMLS ID 331194

 It's been a while since i have posted any rate information, and with rates bouncing up and down on a daily basis, i figured now would be a good time. The above rate is for a five year fixed, also know an an arm. The rate is fixed for 5 five years and then can adjust once a year for the remainder of the term of the loan. The margin for the loan is 2.25%, and the index is the 1 year libor, which is currently at .784. This is a great rate, but this loan is not for everyone. So if you are risk averse, stick with the 30 and 15 year fixed.

The following assumptions are made for this loan: Loan to value of 80% or less, a loan amount of $200k to $417k, and owner occupied primary residence, purchase or rate and term refinance, a middle credit score of 740 or above, and an origination fee of one percent of the loan amount. A seven year fixed is also available with the same assumptions, but with a rate of 2.75% and an apr of 2.853%.

HAPPY NEW YEAR EVERYONE!!!

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Florida
Tags:
interest rates
refinance
arm
lower interest rate
mortgage broker
purchase

Spam prevention
Show All Comments
Rainer
133,502
Kimberly A Norgard
Devlin McNiff Halstead Real Estate - East Hampton, NY

Thanks for the info.  Can you remind me what points and arms are again?

Jan 12, 2011 07:23 PM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
22,492

Joseph Mazzei

Why pay retail you you can get it Wholesale?
Ask Me How to Put Down Only 3% and pay No Monthly PMI!
*
*
*
*