Rates & Info- Oct 2nd

Good Afternoon,

I hope everyone is doing well.  FYI........

 

FHA loans are coming back more and more.  This type of loan is picking up for alot of the subprime loans (aka low credit score loans).  We did several FHA loans and a PHFA loan last month.  What does this mean to you?........Well, it is important to keep in mind that the process may take a little longer.  Rushes would not be advised with these type of loans. Appraisal and underwriting has some added detail to it.  Overall, these products are providing lower fees, good rates and most importantly an alternate option to your low credit score buyers.

 

Take care and please let me know if we can help. 
Thank you.

 

Jade

 

RATES

as of October 2, 2007

Conforming (up to $417,000)

 

Product                                   Rate   

30 year fixed                          6.375

20 year fixed                          6.250

15/10 year                              6.000

40 year fixed                          6.750

 

FHA 30 year                           6.500

PHFA 30 year                         6.375

 

My Community 100%           7.125

 

Jumbo (above $417,000)

 

Product                                   Rate   

30 year fixed                          6.875

15 year fixed                          6.500

5/1 ARM                                6.500

 

ARMS

 

Product                                   Rate   

 

3/1 ARM                                6.125

5/1 ARM                                6.250

7/1 ARM                                6.500

 

 

Jade A. Sullivan

Private Mortgage Banker

Arlington Capital Mortgage

3260 Tillman Drive, Suite 90

Bensalem, PA 19020

Office 267-525-0301

Cell 215-840-7193

Fax 1-866-361-5945