Hoboken Mortgage Rates: How Low Can you Go!

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Time to refinance that Hoboken condo.  I can’t believe the rates aren’t driving the real estate market.

From the Inside Hoboken Real Estate Mortgage Guy…

REVISED September 2nd,, 2011—5:00 PM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS  (loans less than or equal to $417,000)   

30 YEAR FIXED —————————- 4.125%/ 4.211% APR

30 YEAR FIXED INTEREST ONLY— 4.750%/ 4.823% APR

15 YEAR FIXED—————————– 3.375%/ 3.435% APR

5 / 1 ARM————————————- 3.000%/ 2.985% APR

7/1 ARM ————————————  3.250%/ 3.196% APR

*All quotes are with 0 points
*Investment Properties — ** Add 1.75 points  (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

 

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS  (loans greater than $417,000, but less than $729,500)   

30 YEAR FIXED ————————- 4.375%/ 4.412% APR

15 YEAR FIXED ————————- 3.500%/ 3.586% APR

 ** Loan amount restrictions based on county and property type.  Cash-out refinances over 60% LTV not allowed.

***There is a rate increase for condominiums over 75% LTV***

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED————————— 4.875%/ 4.911% APR

30 YEAR FIXED INTEREST ONLY–  5.125%/ 5.213% APR
15 YEAR FIXED————————— 3.750%/ 3.824% APR
5 / 1 ARM———————————– 3.250%/ 3.063%APR

7/1 ARM ———————————— 3.625%/ 3.438% APR

** All non-conforming loans need to be discussed in detail 

** ARM rates on jumbo products could be lower with a 25% down payment or more  

** ARM rates on jumbo products would be higher with a down payment less than 20%

 

**Please call for rates on loans over $1 million or rates on FHA loans**

Hoboken Mortgage Rates: How Low Can you Go?

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