Weekly Rates + USDA Income Update + Market Update

Please take note, USDA income limitations have been raised! (see attachment). Now for a 1-4 person family the max income level is $75,750. This is still a great ZERO DOWN product for your clients that are purchasing in eligible areas. Click here for eligible property map.

Also, New home sales show signs of revival. Despite a decline in March, the annual rate remains above what economists expect after an even stronger than originally reported February.

For Pre-qualifications over the weekend or 2nd opinions on loan scenarios, please call my mobile at 480-225-2987.


Rates for April 24th, 2009. Rates Change Daily. Call for current pricing. #0902429
PROGRAM
30 Year Fixed Conventional 4.625%, 4.738%
30 Year Fixed Interest Only 5.75%, 5.863%
15 Year Fixed Conventional 4.25%, 4.383%
7/1 LIBOR ARM Conventional 4.25%, 4.363%
5/1 LIBOR ARM Conventional 4.00%, 4.113%
5/1 LIBOR ARM Interest Only 4.125%, 4.238%
30 Year FHA/VA 5.00%, 5.252%
*30 Day Locks

JUMBO $417,001+
30 Year Fixed (to $600K) 5.75%, 5.851%
15 Year Fixed (to $600K) 5.625%, 5.726%
5/1 Treasury ARM 4.75%, 4.851%
7/1 Treasury ARM 5.00%, 5.101%
*30 Day Locks

ONE-TIME CONSTRUCTION
Conforming & Jumbo (to $8,000,000)
3/1 LIBOR ARM (Conforming) 5.50%, 5.882%
5/1 LIBOR ARM (Jumbo) 6.25%, 6.632%
*60 Day Locks

6,9,12 and 24 month construction phases available. Construction phase interest only rate = PRIME (5%) + up to 1.25%. Perm. rates guaranteed through construction.Prior to modification, a free one-time float down is available. (30 Year Amortization)
For Realtor purposes only; not for distribution to potential borrowers. Rates are calculated based on no discount points and one origination fee. Conforming rates based on loan amounts greater than $200,000, minimum FICO score 720.