Latest on Hoboken Mortgage Rates

Latest on Hoboken Mortgage Rates from the IHRE Mortgage Guy

REVISED July 15th,, 2011---11:00 AM ET
Lock Period = 30 Days

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

30 YEAR FIXED ---------------------------- 4.500%/ 4.591% APR

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

15 YEAR FIXED----------------------------- 3.750%/ 3.821% APR

5 / 1 ARM------------------------------------- 3.125%/ 3.009% APR

7/1 ARM ------------------------------------ 3.500%/ 3.314% 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 ------------------------- 4.750%/ 4.796% APR

15 YEAR FIXED ------------------------- 4.000%/ 4.095% 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--------------------------- 5.000%/ 5.086% APR

30 YEAR FIXED INTEREST ONLY-- 5.250%/ 5.324% APR
15 YEAR FIXED--------------------------- 4.125%/ 4.236% APR
5 / 1 ARM----------------------------------- 3.500%/ 3.195%APR

7/1 ARM ------------------------------------ 3.875%/ 3.571% 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)



Michael Mundy

Senior Vice President, NMLS #208872

Pinnacle Mortgage, Inc.

www.mundymortgages.com