Outer Banks mortgage and loan rate update
Published April 25, 2008 by Shane CookOuter Banks mortgage and loan rate update from 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, 2008: 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
40 Year Fixed: 6.375% 1 Origination
30 Year Fixed: 5.875% 1 Origination
30 Year Fixed: 6.125% 0 Origination
15 Year Fixed: 5.375% 1 Origination
3 Year ARM: 5.375% 1 Origination
5 Year ARM: 5.875% 1 Origination
100% Financing Government Loans: Primary Residences Only
VA 30 Year Fixed: 6.25% 0 Origination
FHA 100% Genesis: 6.25% 0 Origination
FHA 97% Financing: 6.0% 0 Origination
Farmers Home (USDA): 6.25% 1 Origination
Jumbo Loans: loan amounts greater than $417,000 (Primary and Second Homes)
Portfolio 5 Year ARM: 5.5% 1 Origination
Portfolio 7 Year ARM: 5.75% 1 Origination
****Rates change daily, and must be locked in before they can be guaranteed until they are locked in. First Horizon has an application fee of $300 for conforming loans and $370 for Jumbo loans. No hidden fees, or pre-payment penalties of any kind, and I have never changed a rate on a customer in my career as a loan officer once it has been locked in. First Horizon is an equal opportunity lender.
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