Hoboken Mortgage Rate Update - April 6th, 2012

A Hoboken Mortgage Rate Update For Hoboken Buyers April 6th 2012
Courtesy Of Michael Mundy - Pinnacle Mortgage

REVISED April 6^th, 2012---12:30 PM ET
Lock Period = 30 Days

CONVENTIONAL CONFORMING LOANS  (loans less than or equal to $417,000)   

30 YEAR FIXED ---------------------------- 4.000%/ 4.096% APR

15 YEAR FIXED----------------------------- 3.250%/ 3.312% APR

5 / 1 ARM------------------------------------- 2.750%/ 2.821% APR

7/1 ARM ------------------------------------  3.125%/ 3.099% APR

*All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points  (if 25% down)**
*There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV*

CONVENTIONAL HIGH BALANCE CONFORMING FIXED RATE LOANS  (loans greater than $417,000, but less than $729,500)   

30 YEAR FIXED ------------------------- 4.250%/ 4.346% APR

15 YEAR FIXED ------------------------- 3.500%/ 3.598% APR

 ** Loan amount restrictions based on county and property type.  Cash-out refinances over 60% LTV not allowed.
***There is a rate increase for condominiums over 75% LTV***


CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000 up to $1,000,000 loan amount)

30 YEAR FIXED--------------------------- 4.625%/ 4.712% APR

30 YEAR FIXED INTEREST ONLY--  5.000%/ 5.089% APR
15 YEAR FIXED--------------------------- 3.500%/ 3.568% APR
5 / 1 ARM----------------------------------- 3.000%/ 3.063%APR

7/1 ARM ------------------------------------ 3.375%/ 3.418% APR

** All non-conforming loans need to be discussed in detail 

** ARM rates on jumbo products could be lower with a 25% down payment or more  

** There may be a rate add-on for condominiums and multi-family homes

**Please call for rates on loans over $1 million or rates on FHA loans**

Total Fees Charged By Pinnacle Mortgage, Inc. 

$395.00 -- Application Fee (Includes Appraisal, Lock-in, Credit, Flood & Processing)
$395.00 -- Commitment Fee (Wiring Funds, Attorney Review & Doc Preparation) 


I'll post Hoboken Mortgage Rate updates here or you can check out Pinnacle's sight for more info on mortgages