I know…I’m breaking tradition for this post since I normally provide you with rates on Friday afternoons at Rain City Guide. However, tomorrow I’m going to be at the Washington Real Estate Summit at Emerald Downs. If you’re interested in attending this event, you can sign up today or pay more at the door.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied with a mid-low credit score of 740 or higher, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000 single family dwelling (non condo). This scenario includes reserves (taxes & insurance) not being waived. Rates quoted are priced based on a 30 day closing with no prepayment penalties on any of the rates quoted below.
30 Year Fixed @ 1 Pt: 4.500% (APR 4.632%). 0.125% lower in rate from last Friday’s post.
15 Year Fixed @ 1 Pt: 4.25% (APR 4.478%). 0.125%
Conforming High Balance Rates. Pricing is based on the same criteria above except where the loan amount is $417,001 – $506,000 for properties in King, Snohomish or Pierce Counties; specifically priced for a sales price of $625,000 and a $500,000 loan amount. Note: still waiting for the revised 2009 High Balance Conforming loan limits of $567,500 to be available. Fannie Mae will start purchasing the revised 2009 loan limits on May 1, 2009 so we should start seeing pricing available anytime.
30 Year Fixed @ 1 Pt: 4.750% (APR 4.879%). 0.125 to rate
FHA. Pricing based on credit score of 620 or better and loan amounts up to $417,000 for FHA in King, Snohomish and Pierce Counties.
30 Year Fixed @ 1 Pt: 4.875% (APR 5.698%). Same as last Friday’s posted rate.
FHA-Jumbo/High Balance. Pricing based on loan amounts from $417,001 – $567,500 for King, Snohomish and Pierce Counties.
30 Year Fixed @ 1 Pt: 4.875% (APR 5.696%). 0.125 to rate
VA. Pricing based on credit scores of 620 or better based on loan amounts up to $417,000. VA loan amounts over $417,000 are also available.
30 Year Fixed @ 1 Pt: 4.875% (APR 4.981%).
Prime Rate (what HELOCs are based on): 3.25%
This is just a small sample available of rates and products. This is not a guarantee nor is it a commitment of interest rate. Rates are as of Thursday, April 16, 2009 at 12:30 p.m. and may change at any time. Available programs may change at anytime as well. Check out RCG’s new Mortgage Info page for live rate quotes via my Twitter feed.