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| 30 Year Fixed |
| 30 Year Fixed JUMBO |
| 40 Year Fixed |
| 15 Year Fixed |
Rates last updated on Tuesday, November 18, 2008
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30 Year Fixed
A fixed rate mortgage has the same interest rate and monthly payment throughout the term of the mortgage. The payment is calculated to payoff the mortgage balance at the end of the term.
Term: 30 years
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| Rates | Points | APR |
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| 5.875% | 0.5% | 6.111% |
| 6% | 0% | 6.189% |
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Benefits:
- Housing cost remains unaffected by interest rate changes and inflation.
- Predictable
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30 Year Fixed JUMBO
The current conforming limit is set at $417,000. Any loan amount above that figure is considered a Jumbo loan and is often subject to an interest rate pricing premium as well as to some additional underwriting restrictions.
Term: 30 years
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| Rates | Points | APR |
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| 6.25% | 1% | 6.527% |
| 6.5% | 0% | 6.682% |
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40 Year Fixed
The 40 year loan helps reduce monthly payments by stretching out the time that you have to pay the money back.
Term: 40 years
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| Rates | Points | APR |
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| 6.875% | 1% | 7.123% |
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This loan is not for everyone, it will carry a higher interest rate over the term of the loan (In comparing to the 30 year fixed loan). |
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15 Year Fixed
A fixed rate mortgage has the same interest rate and monthly payment throughout the term of the mortgage. The payment is calculated to payoff the mortgage balance at the end of the term.
Term: 15 years
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| Rates | Points | APR |
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| 5.375% | 1% | 5.845% |
| 5.625% | 0% | 5.939% |
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Benefits:
- Housing cost remains unaffected by interest rate changes and inflation.
- Predictable
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $7,766. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.
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