Today is an EXTREMELY important day. I was born 41 years ago at 6:30 a.m. My Dad says I was incredibly cute (that’s what Dads are supposed to say!). Hold the birthday wishes…I know you are thinking them!
Let’s talk about rates. They are creeping up a tad. Consumer confidence is up. The stock market is almost at 13,000, home sales are up….the list seems to go on. Rates are still in the low 4’s for a 30 fixed...who can complain about that?
The local Houston market, well, the articles this week all said that inventory is down. That means multiple contracts (and we have already seen them). Buyers that are waiting to offer may be left behind. Be sure they get to the lender EARLY to pre approve. We give them a letter the minute they bring in paperwork and have an interview with me!
Enjoy the weekend! Thank you for your trusted endorsements, and keep them coming.
RATES as of February 24, 2012 (UNCHANGED 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) 2.875% APR 3.189% 15 year ( fixed ) 3.625% APR 3.821%
15 year (fixed) 3.000% APR 3.217% 30 year ( fixed ) 4.375% APR 4.489%
30 year (fixed) 4.000% APR 4.125%
7/1 ARM 2.875% APR 3.231% 5/1 ARM 2.875% APR 3.268%
7/1 ARM 3.000% APR 3.276%
5/1 ARM 2.750% APR 3.237% 10/1 ARM 3.750% APR 3.693%
FHA call for quote (max loan $270,000) 5/5 ARM 3.125% APR 3.047%
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 & Team
Kenny, Brianna, Jason, and Jose
Patriot Bank Mortgage
NMLS# 514497
Office: 713-337-8400
E-mail: jennifer@patriotbankusa.com
Website: www.applywithpatriot.com
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Information provided in this e-mail is intended as a tool for Real Estate Agents to be informed of the approximate rates available for home mortgages. It is intended for their sole use and purpose only and is not for distribution to the general public. Depending on the borrower's actual circumstances, such as credit, debt ratios, etc., rates may vary. Special niche products may also be available.
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