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Mortgage rates as of 2/8/2010
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Loan Program
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Rate
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Discount
Points
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Origination
Fees
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APR
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| Conv 40 Yr Fixed | 5.375% | 0.000% | 1.000% | 5.461% | | Conv 30 Yr Fixed | 5.000% | 0.000% | 1.000% | 5.080% | | Conv 15 Yr Fixed | 4.375% | 0.000% | 1.000% | 4.445% | | Jumbo 30 Yr Fixed | 6.375% | 0.000% | 1.000% | 6.477% | | Jumbo 15 Yr Fixed | 6.375% | 0.000% | 1.000% | 6.477% | | 3/1 Adjustable | 4.250% | 0.000% | 1.000% | 4.383% | | 5/1 Adjustable | 4.625% | 0.000% | 1.000% | 4.761% | | 7/1 Adjustable | 5.125% | 0.000% | 1.000% | 5.265% |
Assumptions and Disclaimer
- Each quote above presumes a Loan Origination Fee of
1%
is charged. Other options are available that do not require payment of the Origination Fee.
- Your actual rate and/or points may be different, as many factors go into providing you with a mortgage loan. Rates and points vary widely for loan amounts above $417,000, and/or for investment property loans.
- Each quote above represents a "lock-in" period of
40
days, meaning that if you applied for a loan today and choose to "lock-in", we will guarantee the rate and points for
40
days.
- Rates and/or points are subject to change at any time until you apply for a loan and "lock-in" a rate.
- Each quote above is based on a loan amount of $150,000, the purchase of a primary residence, and a sales price of at least $187,500
.
- These quotes represent a sample available products. Many more loan programs are available. Check with your credit union loan officer for details.
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Glossary
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RATES:
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These quotes represent the par of going rates. Many other options are available, including lower rates with the payment of additional Discount Points, or higher rates with no Discount Points and
no Loan Origination Fee. Rates are subject to change at any time with changes in the financial markets.
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DISCOUNT POINTS:
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Discount Points are percentages of the loan amount charged to obtain a particular interest rate. Discount Points are PAID in order to obtain a discounted rate. Discount Points are subject to change
at any time with changes in the financial markets.
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CLOSING COSTS:
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Closing Costs vary by loan type, property type, property state, loan purpose, occupancy, and for other reasons. Closing costs are comprised of fees from your Lender, the Title Company and/or Closing Agent,
and various third parties, including but not limited to local governments, surveyors, inspectors, and couriers.
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APR:
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APR, or Annual Percentage Rate, is a calculated rate that combines certain closing costs along with the interest you will pay on a mortgage. The calculation and presentation of APR is mandated and defined
by the Federal government in order to assist you in comparing rates and fees among various lenders.
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