Outer Banks Mortgage Rate Update 2-1-08 from Shane Cook
Published February 2, 2008 by Shane CookOuter Banks Mortgage Rate Update 2-1-08 from Shane Cook
Rates are pretty stable this week. We should know in the next couple of weeks if Congress is going to raise the Fannie Mae limit higher than $417,000. I will keep you posted on that as we know more. Have a great weekend!
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: 6.375% 0 origination
30 Year Fixed: 5.75% 0 origination
30 Year Fixed: 5.5% .625 origination
15 Year Fixed: 4.875% .625 origination
7 Year ARM: 4.875 % 1 origination
5 year ARM: 4.5% 1 origination
FHA 30 Year: 5.5 1 origination
VA 30 Year: 5.625% 1 origination
Investment Property
30 Year Fixed: 5.75% .75 origination
5 Year ARM: 5.0% 1 origination
Jumbo Loans: Loan amounts greater than $417,000 to $1.5 Million
Primary Residence and Second Homes
30 Year Fixed: 6.5% 1 origination
15 Year Fixed: 5.75% 1 origination
10 Year Arm: 6.375% 1 origination
7 Year ARM: 6.125% 1 origination
5 Year ARM: 6.0% 1 origination
Please call for custom quotes on Jumbo Investment Property loans and on loan amounts greater than $1.5 million. These interest rates vary greatly depending on loan amount, down payment, credit score, etc.
Shane Cook
Senior Mortgage Specialist
First Horizon Home Loans
(Office) 800-256-7887
(Cell) 252-207-2665
(Fax) 866-669-5871
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