July 18, 2011

Uncertainty……about life, love, the weather, you name it! This one word has so much power it is unbelievable. That is what drove markets this week. Instability in Europe and Fed comments about a still staggering economy drove investors to safer investments (i.e. the bond market). That makes prices higher due to increased demand, and the yields (or rates) lower. Yea! All I know is we just locked an FHA borrower at 4.375%!!! I almost fell out of my chair. What great news for borrowers that are buying houses!

Today is my son Pablo’s first birthday, so I must dash….Elmo , Big Bird and Cookie Monster are awaiting me.

Enjoy your weekend!

RATES as of July 15, 2011 (DOWN FOR THE WEEK)
The following assumptions apply:
• 20% Down Payment (Conforming) / 25% Down Payment Jumbo (Lower down payments available – call for details)
• 1% Origination Fee
• Escrows Required (if no escrow, higher fees may apply)
• Purchase Transactions, Primary Residence (Refinances have different rates)
• 30 day closing
• Credit Score 740 +
• Debt to income ratio <=40%
• Full Documentation of Income/Assets

Conforming ($200,000* - $417,000) Jumbo ($417,001- $1,000,000*)
10 year (fixed) 3.250% APR 3.593% 15 year ( fixed ) 4.125% APR 4.336%
15 year (fixed) 3.750% APR 4.990% 30 year ( fixed ) 5.000% APR 5.126%
30 year (fixed) 4.500% APR 4.640%
7/1 ARM 3.500% APR 3.359% 5/1 ARM 3.375% APR 3.403%
7/1 ARM 4.000% APR 3.716%
10/1 ARM 4.125% APR 3.812%

FHA/VA call for quote (max loan $270,000) 5/5 ARM 3.625% APR 3.715%


We do originate loans below $200,000. These amounts are chosen to show the most favorable rates.
For other product options or for loan amounts less than $200,000 or above $900,000 please call for quote.
Call for details!


If you know of someone who would appreciate my services, please contact me with their name and number and I will be happy to help them!

Jennifer Hernandez
Vice President/Mortgage Consultant
Patriot Bank Mortgage

Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Blog: www.loanwithjennifer.blogspot.com