Again more good news from Danny at First Capital ( If you need a loan contact Danny )
April 18, 2008
Thursday, April 17, 2008 My Real Estate News
First Capital originated 222 loans in March totaling $110,686,806
Ask me about FHA loans and Reverse Mortgages.
Conforming rates are up .25% from last week.
Conforming Loans (Loan Amounts to $500,000)
| Loan Program | Interest Rate | Payment / $1000 | Points |
|---|
| 30 Yr Fixed Rate | 6.00% | $6.00 | 1 |
| 30 Yr Fixed Rate | 6.25% | $6.16 | 0 |
| 5/1 ARM | 5.75% | $5.84 | 1 |
| 7/1 ARM Interest Only | 6.125% | $5.10 | 1 |
Jumbo Loans (Loan amount from $500,001 to $1,000,000)
| Loan Program | Interest Rate | Payment / $1000 | Points |
|---|
| 30 Yr Fixed Rate | 8.00% | $7.34 | 1 |
| 30 Yr Fixed Rate | 8.50% | $7.69 | 0 |
| 5/1 ARM | 6.00% | $6.00 | 1 |
| 15 Yr Fixed Interest Only | 6.650% | $5.42 | 0 |
Suggested C.A.R. Contract Rates - Section 2. Financing B(1)
| |
|---|
| Max. Fixed Rate (Conforming) | 6.75% |
| Max. Fixed Rate (Jumbo) | 8.5% |
| Max. Inital Adjustable Rate | 6.5% |
| Max. Rate Cap | 12% |
| Points | 1 |
Money Rates
Posted at: 08:49 AM | 0 Comments | Add Comment | Permalink
Another Update From Our Friend Danny At First Capital
March 26, 2008
take pride in providing useful information that you will find helpful when making decisions regarding your mortgage. My monthly newsletter covers different topics each month to help increase your knowledge of the mortgage industry and recent industry happenings. Please take a moment to review the monthly newsletter and click on the links on the left hand side for more news and resources. Feel free to pass this newsletter along to any friends and family members who might find it useful and contact me with any questions you may have.
Thank You,
Danny Grathwohl
Spotlight
Arming Yourself During a Mortgage and Real Estate Downturn
Preparing for the economic slump will ensure you and your family come out on top.
As news about the slowing economy is disseminated throughout the nation, many consumers begin to take the necessary precautions to ensure they aren't left in the dust. Keeping your assets and investments in line throughout the remainder of this economic downturn is essential to financial survival.
A few temporary financial adjustments will help you maintain a comfortable lifestyle. Stay on top of this economic downturn by analyzing your current financial status and by employing a few of the tips below.
Down With Debt...
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From Danny at First Capital
March 9, 2008
My Real Estate News
In Riverside County, the conforming loan limit for Conventional and FHA loans has been increased to $500,000 through December 31, 2008. With a 20% down payment your clients can purchase up to a $625,000 home ($500,000 loan amount) at the lower conforming rates.
The bond market has taken a beating over the past three days raising rates as much as 0.5% from last week.
Conforming Loans (Loan Amounts to $500,000)
| Loan Program | Interest Rate | Payment / $1000 | Points |
|---|
| 30 Yr Fixed Rate | 6.375% | $6.24 | 1 |
| 30 Yr Fixed Rate | 6.625% | $6.40 | 0 |
| 5/1 ARM | 5.625% | $5.76 | 1 |
| 7/1 ARM Interest Only | 5.75% | $4.79 | 1 |
Jumbo Loans (Loan amount from $500,001 to $1,000,000)
| Loan Program | Interest Rate | Payment / $1000 | Points |
|---|
| 30 Yr Fixed Rate | 7.875% | $7.25 | 1 |
| 30 Yr Fixed Rate | 8.5% | $7.60 | 0 |
| 5/1 ARM | 6.375% | $6.24 | 1 |
| 15 Yr Fixed Interest Only | 6.50% | $5.41 | 0 |
Suggested C.A.R. Contract Rates - Section 2. Financing B(1)
| |
|---|
| Max. Fixed Rate (Conforming) | 6.75% |
| Max.... |
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Posted at: 09:04 PM | 1 Comment | Add Comment | Permalink
Exciting news
March 8, 2008
UPDATE! Government Announces Conforming Loan Limit Increases
The Office of Federal Housing Enterprise Oversight (OFHEO) today
announced it has temporarily increased limits on conforming
loans offered by government-sponsored enterprises, Fannie Mae
and Freddie Mac, from $417,000 to as high as $729,750 in
fourteen counties in California for loans originated between
July 1, 2007 and Dec. 31, 2008. Fannie and Freddie are reported
to be working out new underwriting standards and expect to begin
offering the new loans soon.
Also, on Wednesday, the government raised the conforming loan
limit for mortgages guaranteed by the Federal Housing
Administration, and has begun offering the maximum limit of
$729,750 for 14 California counties, up from $362,790, for
loans originated between now and Dec. 31, 2008.
The Fed�s economic stimulus package approved earlier this year
called for temporary increases on conforming and FHA loan limits
to allow troubled borrowers to refinance out of sub-prime loans
and make it easier for many new buyers to qualify for mortgages
in high-cost areas, particularly in California where home prices
remain among the highest in the nation.
This is great news!
Don Mangione
Posted at: 06:44 AM | 0 Comments | Add Comment | Permalink
Whats New
February 5, 2008
Hello and welcome back! Things in Real Estate are getting better, Interest rates are at an all time low and the housing inventory of new homes is huge and existing home sales are on the rise. If you have ever watched the Real Estate market in the past you have seen this so called roller coaster ride and you know that it does not last. If you are new to Real Estate investing this information will help you to understand the market and may take some of the reluctance out of a home purchase. Looking back to my first home purchase some 26 years ago the interest rate was at 13% WOW! How did I do it? The home was purchased for 65K and sold 13 years later for 150K this is just an example of how the Real Estate market acts. It is an unpredictable investment but the stock market is also but in Real Estate you get to touch your investment. When you are ready to start investing or selling Real Estate it’s good to have an agent who knows the market and area. You don’t want to have your home overpriced or pay too...
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Posted at: 08:39 AM | 0 Comments | Add Comment | Permalink
Whats New In The Greater Palm Springs Area
January 7, 2008
Hello and welcome to the Blog. This is an interesting time in Real Estate around the country but here in Palm Springs it’s a great time to purchase a home or list a home, If you are a realistic seller or purchaser you can take advantage of this market. We are in what I like to call a correction of the market, It was headed that way for a long time and now we are seeing the repercussion. You as a home buyer or seller you can take advantage of this market. On my site there is a hyper link to a lending institution that can get you pre qualified and on tract to a home purchase. I look forward to hearing from you and handling all your Real Estate needs.
Don Mangione
Posted at: 07:14 AM | Permalink