Rates have steadily improved during the month of April, and are hovering just on this year’s lows, while property values are also at their lows in most areas. Great time to buy, and also to refi!
Up to $417,000
5/1 ARM – 3.125%
15 YR FIXED – 4%
30 YR FIXED – 4.75%
$417,000 to $729,000
5/1 ARM – 3.5%
15 YR FIXED – 4.125%
30 YR FIXED – 4.75%
True Jumbo loans (over $729,500)
5/1 ARM – 3.875%
15 YR FIXED – 5%
30 YR FIXED – 5.5%
FHA rates are a bit lower, but they come with mortgage insurance which increases the monthly payment. That said, it is still possible to make a purchase up to $729,000 with as little as 3.5% down. WOW!
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