Interest Rate Update from Shane Cook at First Horizon 3-22-08
Published March 22, 2008 by Shane CookFirst Horizon is rolling out some new Jumbo Loan Programs just in time for Easter Weekend (see pricing below.) Conforming loan rates also dropped this week and we are back at quoting 5.5% on a 30 year fixed loan and 4.875% on a 15 year fixed loan (wow.) I will be available all weekend, so please feel free to call me if you have anyone in town you need pre-qualified and Happy Easter. Always available 207-2665.
Shane Cook
Senior Mortgage Specialist
800-256-7887/Cell 252-207-2665
“A pre-qualification you can trust”
Total Loan Denial Letters Issued After Pre-qualification 2005, 2006, 2007: 0
All quotes listed below only require 10% down, and have no private mortgage insurance (PMI), for qualified borrowers. Quotes listed below are for 30 day locks. Add .125% of a percent for Interest Only.
Conforming: loan amount less than $417,000
Primary Residence and Second Homes
40 Year Fixed: 6.0% 1 origination
30 Year Fixed: 5.75% 0 origination
30 Year Fixed: 5.5% 1 origination
15 Year Fixed: 4.875% 1 origination
7 Year ARM: 6.125% 1 origination
5 Year ARM: 6.125% 1 origination
FHA 30 Year: 5.5% 0 origination
VA 30 Year: 5.5% .5 origination
Investment Property
30 Year Fixed: 5.75% 1 origination
15 Year Fixed: 5.375% 1 origination
NEEDING a JUMBO LOAN?
… & NEEDING a GREAT PRICE?
Well, We’ve GOT IT - CHECK THIS OUT!
Primary Residence
Purchase & C/O Refi
Second Home
Purchase & C/O Refi
LTV
Max Loan
Rates/Pts
LTV
Max Loan
Rates/Pts
80%
$850,000
6% + 1
75%
$600,000
6.125% + 1
75%
$1,500,000
6% + 1
70%
$1,500,000
6.125% + .75
70%
$2,000,000
6% + .75
65%
$2,000,000
6.125% + .75
60%
$2,500,000
6% + .75
60%
$2,500,000
6.125% + .75
50%
$3,000,000
6% + .75
50%
$3,000,000
6.125% + .75
(Rates Qualified above on a 5/1 ARM & > 650K LA (reduce origination pts above by .25 if < 650K, or .50 if < 500K)
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