EDITORS NOTE: THIS POST IS FROM 2008 – THE MORTGAGE RATES QUOTED ARE NO LONGER VALID. For a current rate quote on your home located in Washington state, click here.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000. This scenario includes reserves (taxes & insurance) not being waived. Rates quoted are priced based on a 45 day lock with 1 point and there are no prepayment penalties on any of the rates quoted below.
30 Year Fixed: 5.625% (APR 5.776%)
30 Year Fixed with 10 Year Interest Only: 6.000% (APR 6.140%)
15 Year Fixed: 5.250% (APR 5.500%)
Conforming-Jumbo Rates. Pricing is based on the same criteria above except where the loan amount is $417,001 – $567,500 for properties in King, Snohomish or Pierce Counties. (For other conforming-jumbo loan limits in Washington state, click here); specifically priced for a sales price of $650,000 and a $520,000 loan amount.
30 Year Fixed: 5.750% (APR 5.898%)
30 Year Fixed with 10 Year Interest Only: 6.250% (APR 6.386%)
JUMBO (Non-Conforming) Rates. Pricing is based on the same criteria above, with the exception that the loan amount is $417,001-$650,000 (20% down). The specific scenario used to price the rates below is a sales price of $850,000 with a loan amount of $680,000.
30 Year Fixed: 7.500% (APR 7.758%)
FHA. Pricing based on credit score of 620 or better and loan amounts up to $362,790 for FHA in King, Snohomish and Pierce Counties.
30 Year Fixed: 5.750% (APR 6.527%).
FHA-Jumbo. Pricing based on loan amounts from $362,791 – $567,500 for King, Snohomish and Pierce Counties. For other loan limits in Washington State, click here.
30 Year Fixed: 5.875% (APR 6.649%)
VA. Pricing based on credit scores of 620 or better based on loan amounts up to $417,000.
30 Year Fixed: 5.875% (APR 6.188%)
Prime Rate (what HELOCs are based on): 5.000%
This is just a small sample available of rates and products. Rates are as of Friday, May 9, 2008 at 8:00 a.m. and may change at any time. Follow me on Twitter to see rates I’m quoting. Available programs may change at anytime as well. This is not a guarantee nor is it a commitment of interest rate.
For your personal rate quote for your Washington State property, please contact me.