Outer Banks Interest Rate Update 1-10-08 from Bank of America
Published January 10, 2008 by Drew WrightBANK OF AMERICA MORTGAGE
Loan Rate Sheet January 10, 2008
The Area’s Best One-Time Closing Construction/Perm Programs
For More Information Call… Drew Wright
David.A.Wright@BankofAmerica.com
(252) 261-6900 or (800) 831-6692 - office / (252) 256-2018 – cell
40 Year Fixed - 6.125% /0 pts.
30 Year Fixed - 5.625% /0 pt
20 Year Fixed - 5.500% /0 pt
15 Year Fixed - 5.250% /0 pt
30 Yr. Fxd Jumbo - 6.750% /0 pt
15 Yr. Fixed Jumb - 6.250 /0 pt
3/1 ARM (3 Yr. Fxd.) 5.000% / 0 pts. I/O & Amortized
Jumbo 7.000% /0 pt I/O & Amortized
5/1 ARM (5 Yr. Fxd.) 5.125% /0 pt I/O & Amortized
Jumbo 7.000% / 0 pts I/O & Amortized
7/1 ARM (7 Yr. Fxd.) 5.375% /0 pt I/O & Amortized
Jumbo 7.250% /0 pt I/O & Amortized.
10/1 ARM (10 Yr. Fixed) 5.625% /0 pt I/O & Amortized
Jumbo 7.500% / 0 pts I/O & Amortized
Specialized Products
Lot Loans:
Financing is available up to 95% for qualified applicants. INTEREST ONLY for 5 Years. Call for details. Rates start at 8.375% with 1 pts for 95% LTV, 8.125% with 1 pts for 90% LTV and 7.750% with 1 pts for 80% LTV.
Stated Income Program:
Allows for no documentation of income on purchases and refinances with credit score starting at 680. It can also be interest only. Loan amounts are limited to $417,000.00 as of 1-01-08
Jumbo Investor Loans: Using Rental Income to qualify
Using the 10/1, 7/1 or 5/1 ARM terms are 80% L.T.V.; amortized for 30 years up to $1.5 million. Rates are generally 1% higher in rate for investor loans.
5/1 ARM and 15 or 25 Year Portfolio Products:
• Will allow 90% to $400,000.00, 85% to $500,000.00 on Investor Loans, 2nd Homes and Primary residences, increase rate by 0.25.
• No P.M.I.
• NO DOCUMENTATION of income of down payment if minimum credit requirements are met.
All quotes are no points and no origination fee. We do not charge for the appraisal. Our fees are $200.00 or $400.00 for the application fee; $619.00/processing; $11.00/flood determination fee; and $75.00/tax service fee on all purchases and refinances.
©2006 Bank of America Corporation. Equal Housing Lender
Programs, rates, terms and conditions are subject to change without notice. Bank of America, N.A. Member FDIC.
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