Good news for home buyers or borrowers looking to take advantage of today's low interest rates. This puts mortgage rates at historic lows. Here's a sample of a recent rate quote from All Tech Mortgage this morning: 12/10/2008
Refinance: Paying off the existing first mortgage
Value of home: 350,000
Loan Amount: 280,000 Current Rate 6.25%
Loan Type: Conventional
Fico Score: 746
Rate Quoted: 4.875% 30 day lock (4.984% apr)
Loan Fee: 1% + 3rd party closing costs or 5.25% with 0 loan fee with 3rd party costs
Monthly Payment Savings: $212.00
Rates fluctuate daily so if you are considering refinancing or buying a new home -- The time to lock in and Save is Now!
For high loan balances up to 75% LTV with credit scores + 740, Paying off the existing first mortgage only, the above scanerio will work with loan amounts up to $506,000.
Serving Northwest Homeowners since 1996 WA Mortgage License: 510-MB-18885
Kevin Tinsley
All Tech Mortgage.com
Tacoma's #1 Mortgage Expert - Since 1996
FHA | VA | Conventional Approved
7403 Lakewood Dr W, STE 2
Lakewood, WA 98499
(253) 472-1500 Office
(800) 339-7059 Toll Free
(866) 421-1788 Fax
kevin@alltechmortgage.com
www.alltechmortgage.com
Does anyone know of a lender that will make me a loan for 4.875% (30 year fixed) with no points and no fees?
Donald,
Depending on your loan balance, credit score, and loan to value, the No Points, No Loan Option was available last week. Give me a call to get an update when we hit that rate fee combination again.
253-472-1500
Kevin Tinsley