MORTGAGE LOANS
Residential Loan Rates
Dated 11/19/2008
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| Program |
Loan Amount |
Interest Rate % |
Loan Fee % |
Estimated Payment In $ |
APR % |
| Loan Amounts |
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| 30 Year Fixed |
$417,000 |
5.875 |
2.00 |
2,466.71 |
6.078 |
| 15 Year Fixed |
$417,000 |
5.625 |
2.00 |
1,647.46 |
6.084 |
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| 5-year Convertible ## |
$600,000 |
6.000 |
2.00 |
3,597.30 |
7.992 |
| 3-year Convertible ## |
$600,000 |
6.000 |
2.00 |
3,597.30 |
8.419 |
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| Loan Amounts |
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| 30 Year Jumbo MAX |
$600,000 |
6.250 |
2.00 |
3,694.30 |
6.486 |
| 30 Year Jumbo MAX |
$700,000 |
7.375 |
2.00 |
4,834.73 |
7.630 |
| 30 Year Jumbo MAX 75% LTV |
$850,000 |
7.750 |
2.00 |
6,089.50 |
8.010 |
| 15 Year Jumbo |
$600,000 |
6.125 |
2.00 |
5,144.54 |
6.642 |
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| 5 Year Convertible ## |
$700,000 |
7.125 |
2.00 |
4,716.03 |
8.919 |
| 3 Year Convertible ## |
$700,000 |
7.125 |
2.00 |
4,716.03 |
9.315 |
| Custom Construction |
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| 30 Year Fixed (up to $600,000) |
$600,000 |
6.250 |
2.50 |
3,694.30 |
6.527 |
| 30 Year Fixed (75%LTV) |
$850,000 |
7.750 |
2.50 |
6,089.50 |
8.056 |
| Lot Loan |
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| 75% LTV (24 months IO) |
$150,000 |
8.625 |
2.00 |
1,078.13 |
10.319 |
| 75% LTV (Fixed 20-year) |
$150,000 |
8.875 |
2.00 |
1,337.55 |
9.311 |
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| NEED A HOME EQUITY LINE OF CREDIT? CALL FOR DETAILS! |
| FHA & VA LOANS AVAILABLE |
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CALL FOR DETAILS |
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| 2008 Conforming Loan Limits: SFR - $417,000 2-Unit - $533,850 3-Unit - $645,300 4-Unit - $801,950 Loan Limits have been temporarily increased. The maximum amounts depend on where the property is located. Call for specific limits and amounts. |
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| ARE YOU OVER 62 AND WANT TO ELIMINATE YOUR MORTGAGE PAYMENT? ASK US ABOUT A REVERSE MORTGAGE! |
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| Interest rates quoted are based on a 30-day lock and for purchase transactions with a credit score of 680 and 80% LTV. Rates for borrowers with credit scores below will be higher. Actual APR will depend on your credit score, interest rate and program selected. Interest rates on refinance transactions will be higher. |
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| ## Convertible loan is a 30-year with a one-time conversion to a market adjusted fixed rate after the initial period with a 3% cap in the rate adjustment. Rate will adjust to the FNMA 30-day net yield plus a margin. The margin on an 80% LTV loan is .375% loans over 80% have a higher margin. Loan amounts can be up to $1,500,000 but interest rates are higher based loan amounts over $550,000. |
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| VA loan includes 2% Discount points which could be paid by the seller reducing the amount of funds needed to close. Actual amount of funds to close can be affected by VA Eligibility. |
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| HOME EQUITY LINE OF CREDIT AVAILABLE - Up to 80% CLTV - Minimum credit score 650 - Credit line $25,000 - $250,000 CALL FOR DETAILS |
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| Other fees/costs that may apply to each loan can include: Appraisal, Title Insurance, Credit Report - $18, Escrow Fee, Recording Fee, Underwriting, Processing, Flood Certification and Tax Registration. Specific dollar amounts vary depending on property type and loan size. Consult your CPA or tax advisor to determine if the interst paid may be tax deductible. Minimum payment during the draw period equals all unpaid finance charges and any other finance charges imposed during the billing cycle. Minimum payment due during repayment period will be 1/180th of the outstanding balance. |
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Michael Davis
Residential Loan Officer
253-531-2700
253-255-1874
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Tina Lombard Harris
Residential Loan Officer
253-682-2604
253-332-5986
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