Mortgage Rates: No April Foolin

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From the IHRE Mortgage Guy…


REVISED April 1st, 2010—- 11:45 PM ET
Lock Period = 30 Days

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

30 YEAR FIXED —————————- 5.000%/ 4.891% APR

30 YEAR FIXED INTEREST ONLY— 5.375%/ 5.657% APR

15 YEAR FIXED—————————– 4.375%/ 4.411% APR

5 / 1 ARM————————————- 3.750%/ 3.321% APR

7/1 ARM ———————————— 4.125%/ 3.816% 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 ————————- 5.250%/ 5.131% APR

15 YEAR FIXED ————————- 4.750%/ 4.641% APR

** Loan amount restrictions based on county and property type.

***There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or 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————————— 5.625%/ 5.891% APR

30 YEAR FIXED INTEREST ONLY– 5.875%/ 6.131% APR
15 YEAR FIXED————————— 4.875%/ 5.140% APR
5 / 1 ARM————————————- 4.375%/ 4.316%APR

7/1 ARM ————————————– 4.625%/ 4.556% APR

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

*** Special Program 15/ 30 ARM —–5.000% / 4.922% APR — .50% Points — Loans up to $1,000,000!!!

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

Total Fees Charged By Pinnacle Mortgage, Inc.


$350.00 — Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 — Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation)

Michael Mundy
Pinnacle Mortgage, Inc.
mmundy@pinnaclemortgage.biz

www.mundymortgages.com

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