Hoboken Mortgage Rate Update

From the IHRE mortgage guy ....
**Keep in mind that every borrower’s situation is different, and each must be evaluated individually.

Rates could be higher, or lower, depending on each individual scenario!!**

REVISED January 18th, 2011---- 3:00 PM ET
Lock Period = 45 Days

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

** 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



*** Special Program 15/ 30 ARM -----4.500% / 4.698% APR -- .50% Points --- Loans up to $1,000,000!!!


**Please call for rates on loans over $1 million or rates on FHA loans**


Michael Mundy

Senior Vice President, NMLS# 208872

Pinnacle Mortgage, Inc.