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Rain City Rates: 30 Year Under 6 and Jumbo 30 improved by 0.5% since last Friday! October 19, 2007

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  Conforming rate quote below based on owner occupied, “full doc” with minimum credit scores of 680 with an 80% loan to value or lower and a loan amount of $400,000.   Rates quoted are priced based on a 45 day lock with 1 point and there are no prepayment penalties on any of the rates quoted below. 

30 Year Fixed: 5.875% (APR 6.011%).  Payment per $1000 = $5.92. (improved 0.25%).

30 Year Fixed with 10 Year Interest Only:  6.125% (APR 6.263%).  Payment per $1000 = $5.10. (improved 0.25%).

40 Year Fixed:  6.375% (APR 6.517%).  Payment per $1000 = $5.77.  (improved 0.125%).

5/1 ARM (2/2/6 caps):  5.500% (APR 5.633%).  Payment per $1000 = $5.68. (improved 0.25%).

5/1 ARM 10 Year Interest Only Payments:  5.625% (APR 5.759%).  Payment per $1000 = $4.69. (improved 0.25%).

FHA/VA 30 Year Fixed:  6.375% (APR 7.020%).  Payment per $1000 = $6.24. (not including MI for FHA). (improved 0.125%).

JUMBO (Non-Conforming) Rates.   Pricing is based on the same criteria above, with the exception that the loan amount is $417,001-$650,000 (20% down).    

30 Year Fixed: 6.500% (APR 6.669%).  Payment per $1000 = $6.32. (improved 0.5%)!

30 Year Fixed with 10 Year Interest Only Payments: 6.625% (APR 7.779%).  Payment per $1000 = $5.52. (improved 0.5%)

5/1 ARM:  6.250% (APR 6.389%).  Payment per $1000 = $6.16. (improved 0.375%).

5/1 ARM Interest Only:  6.250% (APR 6.389).  Payment per $1000 = $5.21. (improved 0.375%).

This is just a small sample available of rates and products.  Rates are as of Friday, October 19, 2007 at 12:00 p.m. and may change at any time.  Available programs may change at anytime as well.    This is not a guarantee nor is it a commitment of interest rate.  For your personal rate quote or for loan amounts over $650,000, please contact me.

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