Even after recent market rate upswings, purchase money and mortgage loan rates are excellent for home buyers and refinancing borrowers.
Mortgage brokers here at Orange County CA on August 18, 2012, quoted the following rates on conforming loans to $417k:
Thirty-year, fixed-rate mortgage: 3.875 percent – with one point
Fifteen-year, fixed-rate mortgage: 3.0 percent – with one point
Five-year ARM: 2.75 percent – with one point
FHA loan up to $362,790 – 30 year fixed – 3.5 percent – with one point
Jumbo loan to $625,500 – 30 year fixed – 4.0 percent – with one point
Super jumbo loans higher than $625k – 30 year fixed – 4.375 percent – with one point
Lender requirements to approve loans are high, and the mortgage market is returning to more healthy underwriting standards.
Source of information is First Capital Mortgage – for information only and not the providing of mortgage loan services. We do not provide home loan or mortgages services and recommend that you contact a home loan or mortgage broker professional in your area. If you are at Orange County CA and want information about mortgage rates, contact Jim Power, First Capital Mortgage – firstname.lastname@example.org.
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