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Friday’s Rain City Rates
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied with a mid-low credit score of 740 or higher, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000 single family dwelling (non condo). This scenario includes reserves... »
Friday’s Rates
I’ve added two programs to “Friday’s Rates”: FHA’s 203(k) Rehab loan and USDA’s program. The 203(k) loan allows financing of certain repairs into the purchase price of the new home. USDA provides 100% financing in specific areas with income limits with no monthly mortgage insurance (there is an upfront funding fee, similar to VA... »
Mortgage Rates before Friday
I know…I’m breaking tradition for this post since I normally provide you with rates on Friday afternoons at Rain City Guide. However, tomorrow I’m going to be at the Washington Real Estate Summit at Emerald Downs. If you’re interested in attending this event, you can sign up today or pay more at the door. Conforming Mortgage Rates (loan... »
Friday Rate Update
Here’s a question for you… for conventional rates, which credit score bracket should I use for pricing: 740 and higher or 720-739? With exception to the FHA/VA rates, I’m currently using 720-739. If our readers would prefer 740 and higher, I’m happy to adjust my Friday Rate updates…just comment here and let me know... »
Mortgage Rates for Friday Afternoon
Mortgage rates are up about 0.125% from what I posted this morning and up a bit more than that compared to last Friday’s post as you’ll see by the red arrows. You’ll notice conventional rates increasing soon (next week) for condos and other types of transactions such as cash-out refinances, when Fannie and Freddie’s new... »
Friday’s Rates are Up and Down and Up and….
Rates have been so volatile lately it’s insane. On Tuesday, I was quoting 5.875% (apr 6.133); Wednesday rates dropped to 5.625% (apr 5.818) then popped back up on Thursday. This morning I quoted 6.00% (apr 6.155) all for 30 year fixed conventional with 720-739 mid scores priced w/1 point; now it’s 0.125% higher. I’ve seen... »
FHA Update: The “It Girl” of Mortgage
This morning I’ve been trying to update articles I’ve written on FHA in an attempt to have the information be accurate during this day and age of the ever-changing-loan-guidelines. Please don’t rely 100% on information you find about mortgages on the web. Programs and products are simply changing too often to keep up and information... »
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