Mortgage Interest Rates: So Low!

Interest Rates for October 8, 2010

This information came through my email today. Are you ready to buy?
If so, call me and I’ll help you find a home that suits your needs.

Kate Walsh
REALTOR®
612.220.3309
Lakes Area Realty

~~~

15-Year Term 30-Year Term
Interest Rate APR Interest Rate APR
Conventional 3.375% 3.653% 3.875% 4.033%
FHA 3.500% 4.017% 3.875% 4.646%
VA 3.500% 3.762% 4.000% 4.269%
USDA N/A 4.000% 4.437%
Rate Scenarios: Conventional: Rate based on $200,000.00 primary home purchase; $160,000.00 loan amount, 80% LTV (20% down payment), 740 Credit Score, DTI of 41%, and Escrowing RE Taxes & Homeowners Insurance.
FHA: Rate based on $200,000.00 primary home purchase; $193,000.00 base loan amount, 96.5% LTV (3.5% down payment), 660 Credit Score, DTI of 41%, and Escrowing RE Taxes & Homeowners Insurance.
VA: Rate based on $200,000.00 primary home purchase; $200,000.00 base loan amount, 100% LTV (0% down payment), 660 Credit Score, DTI of 41%, and Escrowing RE Taxes & Homeowners Insurance.
USDA: Rate based on $200,000.00 primary home purchase; $200,000.00 base loan amount, 100% LTV (0% down payment), 620 Credit Score, DTI of 41%, and Escrowing RE Taxes & Homeowners Insurance.
* Interest rates listed above are calculated with 0 points,
a 25 day lock period and are subject to change at any time.

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