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

Hoboken Mortgages | Rate Update

Hoboken Mortgages Rate Update

Rates have come down slightly! An update from Pinnacle Mortgage - Michael Mundy

REVISED February 23^rd, 2011---- 12:00 PM ET

Lock Period = 45 Days

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

30 YEAR FIXED ---------------------------- 4.875%/ 4.913% APR

30 YEAR FIXED INTEREST ONLY--- 5.375%/ 5.396% APR

15 YEAR FIXED----------------------------- 4.250%/ 4.298% APR

5 / 1 ARM------------------------------------- 3.500%/ 3.211% APR

7/1 ARM ------------------------------------  3.875%/ 3.586% 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%/ 5.136% APR

15 YEAR FIXED ------------------------- 4.500%/ 4.527% 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***

Hoboken Mortgages | Rate Update

Hoboken Mortgages | Rate Update  January 18th, 2011

Current mortgage rates, updated sent to me from my preferred mortgage broker, Michael Mundy, Pinnacle Mortgage.

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

30 YEAR FIXED ---------------------------- 4.750%/ 4.792% APR

30 YEAR FIXED INTEREST ONLY--- 5.250%/ 5.268% APR

15 YEAR FIXED----------------------------- 4.125%/ 4.131% APR

5 / 1 ARM------------------------------------- 3.375%/ 3.128% APR

7/1 ARM ------------------------------------  3.750%/ 3.481% 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 ------------------------- 5.000%/ 5.091% APR

15 YEAR FIXED ------------------------- 4.375%/ 4.453% 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--------------------------- 5.125%/ 5.136% APR

30 YEAR FIXED INTEREST ONLY--  5.500%/ 5.516% APR
15 YEAR FIXED--------------------------- 4.375%/ 4.451% APR
5 / 1 ARM------------------------------------- 3.500%/ 3.237%APR

7/1 ARM -------------------------------------- 4.125%/ 3.862% APR 

Hoboken Mortgages | Rate Update

Hoboken Mortgages, Rate Update

I'm afraid it's bad news. Rates are up again. This must mean that the fed is hiding good news from us! When there is positive news in the economy, rates go up.

Look at it on the bright side, good news is good news, and at 5% that's still low!!

From Mike Mundy @ Pinnacle Mortgage - mmundy@pinnaclemortgage.biz

REVISED December 15^th, 2010---- 8:00 PM ET
Lock Period = 45 Days

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

30 YEAR FIXED ---------------------------- 5.000%/ 5.093% APR

30 YEAR FIXED INTEREST ONLY--- 5.250%/ 5.268% APR

15 YEAR FIXED----------------------------- 4.375%/ 4.462% APR

5 / 1 ARM------------------------------------- 3.625%/ 3.268% APR

7/1 ARM ------------------------------------  3.875%/ 3.521% 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*

Hoboken Mortgages | Mortgage Rate Update

Hoboken Mortgages - Rate Update

Are rates creeping up? Do the big pants know something that we don't? Well rates have slowly been inching their way up since October with positive news streaming into the markets..

In November the 30year fixed rate was 4.375

December, it's up again! If you are in the market to buy a home, you should ask your representative whether now maybe a good time to lock in a rate.

From Michael Mundy - Pinnacle Mortgage - mmundy@pinnaclmortgage.biz

REVISED December 3rd, 2010---- 5:00 PM ET
Lock Period = 45 Days
CONVENTIONAL CONFORMING LOANS  (loans less than or equal to $417,000)  

30 YEAR FIXED ---------------------------- 4.625%/ 4.649% APR
30 YEAR FIXED INTEREST ONLY--- 5.125%/ 5.139% APR
15 YEAR FIXED----------------------------- 3.875%/ 3.883% APR
5 / 1 ARM------------------------------------- 3.250%/ 3.091% APR
7/1 ARM ------------------------------------  3.500%/ 3.341% APR
* All quotes are with 0 points
*Investment Properties --- ** Add 1.75 points  (if 25% down)**

Hoboken Mortgage Rates Jump To 9%

This letter was emailed to me by Ted Shirm from Met Life...

Rates Jump to 9%

Happy April Fool's Day!!!!

Now that I have your heart rates up to optimal levels let's realistically discuss what is happening. Yesterday the Fed finished buying Mortgage Backed Securities having spent the last of their $1.3 trillion. Over the past couple of weeks multiple analysts have forecasted a rate movement from .25% to .75% (up). 2 weeks ago I was at MetLife's Club trip. (a little plug for myself: I was ranked in the top 6% in the nation for 2009) One of the speakers discussed where we will see rates going over the next month.
His forecast was that we will still see a 5 in front of rates for some time. Although the government will cease buying mortgage backed securities they have set a new policy that should help keep rates lower by making the private sector more comfortable with purchasing the Mortgage Securities. This new program will guarantee all new mortgages that go through Fannie Mae and Freddie Mac for three years. This will ease concerns of investors in the private sector (hopefully) and they will feel comfortable buying mortgage backed securities.
Today we did see a movement up in rates. Here is where they stand today.

Please note that these rates assume a 740+ credit score and the property type as a condo. There are no points charged for these rates.

Loan amounts up to $417,000
30 Year Fixed 20% Down: 5.25%
30 Year Fixed 25% Down: 5.125%

Loan Amount Above $417,000
30 Year Fixed 20% Down: 5.375%
30 Year Fixed 25% Down: 5.25%

Ted Schirm Jr.Sales Manager
2009 President's Club Member
MetLife Home Loans
908-403-6429 - phone
410-308-6334 - Efax

Today's Mortgage Rate Update - by Hoboken Mortgage Broker

Remember two weeks ago when I posted an update rates were just about 5% - at around 5.125 - take a look to see that they've gone down a hair. Still a great time to lock in your rate if you're serious about buying or looking into refinancing.

>>>
REVISED January 15th, 2010---- 10:30 AM ETLock Period = 30 Days
CONVENTIONAL CONFORMING LOANS (loans less than or equal to $417,000)

30 YEAR FIXED ---------------------------- 5.000%/ 5.036% APR
30 YEAR FIXED INTEREST ONLY--- 5.625%/ 5.657% APR
15 YEAR FIXED----------------------------- 4.375%/ 4.411% APR
5 / 1 ARM------------------------------------- 3.750%/ 3.621% APR
7/1 ARM ------------------------------------ 4.250%/ 4.016% APR

* All quotes are with 0 points*Investment Properties --- ** Add 1.75 points (if 25% down)***There may be 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 ------------------------- 5.250%/ 5.279% APR
15 YEAR FIXED ------------------------- 4.625%/ 4.641% APR
** Loan amount restrictions based on county and property type.

***There may be 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--------------------------- 5.990%/ 6.015% APR
30 YEAR FIXED INTEREST ONLY-- 6.250%/ 6.271% 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

*** Special Program 15/ 30 ARM
-----5.000% / 4.922% APR -- .50% Points --- Loans up to $1,000,000!!!

Any questions don't hesitate to contact my preferred mortgage broker directly by emailing him at mmundy@pinnaclemortgage.biz