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California Mortgage Rate Update: 06/20/11

By Rob Spinosa

Mortgage and Lending with US Bank NMLS: 22343

June 20, 2011 06:16 AM

Below are today's interest rates for RPM's loan programs. For specific pricing on your scenario, or to get pre-approved without obligation for any of these loan products below, you can:

Call 877-270-5959.
Click on the link HERE.
E-mail rspinosa@rpm-mtg.com.

To learn more about the loan process and get fast answers to some of the most common home finance questions, you can view Rob's short, educational videos on YouTube by clicking HERE.

All pricing below is at 0 points unless otherwise noted.

Conforming Loans (up to $417,000)

30-Year Fixed
Rate:  4.375%
APR:   4.399%

15-Year Fixed
Rate:  3.750%
APR:   3.784%

7/1 ARM
Rate:  3.375%
APR:   3.511%

5/1 ARM
Rate:  2.875%
APR:   3.068%

FHA Loans (96.5% Financing)

FHA 30-Year Fixed
Rate: 4.250%
APR: 4.611%

Jumbo Conforming Loans (max amounts per County limit)

30-Year Fixed
Rate:  4.500%
APR:   4.524%

15-Year Fixed
Rate:  3.875%
APR:   3.904%

5/1 ARM
Rate:  3.125%
APR:   3.347%

Traditional Jumbo Loans (above $729,750 or County limit)

30-Year Fixed
Rate:  5.000%
APR:   5.024%

15-Year Fixed
Rate:  4.500%
APR:   4.534%

10/1 ARM (I/O option avail.)
Rate:  4.625%
APR:   4.808%

5/1 ARM (I/O option avail.)
Rate:  3.625%
APR:   3.874%

Assumptions

30-day rate lock.
Debt ratio less than 45%.
Fully documented income.
FICO score of 760 or greater.
Loan-to-value of 70% or less.
Primary home, PURCHASE TRANSACTION.
Other programs available upon request, just ask!

Robert J. Spinosa

Home Loan Professional
DRE: 01297944 NMLS: 22343

591 Redwood Hwy. Suite 1150
Mill Valley, CA 94941

877.270.5959  Toll Free
415.367.5959  Cellular
415.366.1590  eFax
rspinosa@rpm-mtg.com

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Jimmy Katz

Wynd Realty & Katz Realty Group - Alpharetta, GA

"REAL Solutions for Real Estate!"

wow! another great opportunity for buyers to lock into historic and record low interest rates!

Jun 20, 2011 06:21 AM

Rob Spinosa

US Bank - Larkspur, CA

Mortgage Loan Originator, Marin County

James --- for all the difficulty some go through to get a loan, and the rap that puts on the street, you are right that it's important for us all not to forget that we could be experiencing a challenging housing market in a high-rate environment.

In our case, there are still a ton of great opportunities, and I will be the first one to attest to the fact that LOANS ARE GETTING DONE. You need competent professionals to make it happen, but if you're motivated and qualifiable, we are here to help!

Jun 20, 2011 06:38 AM

Endre Barath, Jr.

Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA

Realtor - Los Angeles Home Sales 310.486.1002

Rob, do you do HomePath & HomePath renovation? I am in my first Escrow with a HomePath Renovation.

Jun 21, 2011 01:39 PM

Endre, I cannot do the renovation loans with Homepath. We can only offer the "regular" Homepath loan at this time. Moreover, I don't know anyone who is doing the renovations. They seem to be hard to come by. I'm going to ask around on your behalf, but definitely post the referral out on this network too and let me know if you think there's any way I can assist. I created a short video about the general Homepath program and it's on Youtube at: http://www.youtube.com/watch?v=KC2n40yGE2w . BTW, could you help a client of mine with a potential short sale listing in Encino? Let me know if so at rspinosa@rpm-mtg.com.

Jun 21, 2011 01:50 PM

California Mortgage Rate Update: 06/20/11

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