Hoboken Real Estate Mortgage Rate Update

Just in from my preferred mortgage broker - Pinnacle Mortgage - mmundy@pinnaclemortgage.biz

Ladies, look at these numbers. If you are currently shopping for a home, I would highly highly recommend that you lock in a rate today. Remember, every borrower is different and the best rates are assumed with great credit.


Revised March 2nd, 2010---- 12:30 PM ETLock Period = 30 Days

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

30 YEAR FIXED ---------------------------- 4.875%/ 4.891% APR
30 YEAR FIXED INTEREST ONLY--- 5.500%/ 5.657% APR
15 YEAR FIXED----------------------------- 4.375%/ 4.411% APR
5 / 1 ARM------------------------------------- 3.500%/ 3.321% APR
7/1 ARM ------------------------------------ 4.000%/ 3.816% 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 ------------------------- 5.125%/ 5.131% APR
15 YEAR FIXED ------------------------- 4.625%/ 4.641% APR

** Loan amount restrictions based on county and property type.
***There is a rate increase for cash-out refinance transactions over 60% Loan to Value, or condominiums over 75% LTV

CONVENTIONAL JUMBO LOANS (Fixed rate programs greater than high-balance conforming, ARM programs greater than $417,000)
30 YEAR FIXED--------------------------- 5.875%/ 5.891% APR
30 YEAR FIXED INTEREST ONLY-- 6.125%/ 6.131% APR15 YEAR FIXED--------------------------- 5.125%/ 5.140% APR5 / 1 ARM------------------------------------- 4.500%/ 4.316%APR
7/1 ARM -------------------------------------- 4.750%/ 4.556% APR ** All non-conforming loans need to be discussed in detail