Hello everyone,
Jake Planton, a mortgage broker over at Rose City Mortgage, has been kind enough to keep us all up to date on the latest rates in the mortgage market. See some scenarios below.. Rates are great! Home prices are great! It's time to get out there and BUY!
Best,
Blake
Purchase, 20% down, owner occupied, single family residence, full documentation, 740 Fico score, $325,000 purchase price, and a loan amount of $260,000, taxes and insurance as part of monthly payment, 21 day lock. (If any one of these factors are different, it COULD change the below rates. This is just a barometer of the current rates).
30 Year Fixed with 1% in origination fee : 4.875% (APR 5.035%) ~
5/1 ARM with 1% in origination fee: 5.250% (APR
Jumbo- Purchase Price of $700,000, 20% down, loan amount $560,000 (20% down)
30 Year Fixed with 1% in origination fee: 5.750% (APR 5.892%)
5/1 ARM with 1% in origination fee: 5.375% (APR 5.512%)
ALL mortgage professionals are REQUIRED by LAW to report APR. If you do not see APR, they are doing something illegal. HOWEVER, APR is something that can be calculated differently depending on the lending institution. Rose City’s APR guidelines are copied straight from the state of Oregon. The real way to compare lenders is to look at RATE and ORIGINATION fee, from the two lenders, on the same day, at the same HOUR . Keep that ALL in mind.
Keep in mind that I will compete for YOUR business, and I would love to compete!
503-475-3788
