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| Thank Goodness for the 30 year fixed rate loan - Conforming |
| Jumbo 30 year fixed |
| Super Duper Jumbo 30 Year fixed and beyond |
| 5/1 arm for Conforming |
| 5/1 Jumbo arm |
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Thank Goodness for the 30 year fixed rate loan - Conforming
Term: 30 years
Maximum Amount: $417,000
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| | Thirty year fixed rate loans are the most straight forward loans you can get today. No changes and above all no surprises. This is the loan product that the majority of buyers and current home owners request for today. |
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Jumbo 30 year fixed
Loan amounts above $417,000.00 are still considered Jumbo as far as rates go today. They are also called Expanded Conforming or Jumbo Conforming. Basically this amount goes up to $725,000.00 and will still be bought on the secondary market by Fannie Mae and Freddie Mac. However these GSE's are still charging homeowners and home buyers a premium for these loan amounts.
Regardless of the extra add-ons in this economic environment, we are lucky to have this option at all.
Term: 30 years
Maximum Amount: $725,000
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Super Duper Jumbo 30 Year fixed and beyond
Loan amounts above $725,000.00 are available, however they do come with their own set of rules as well as lenders that will do them. Not all lenders offer these larger loan amounts since there is no secondary market to sell them too. Since loan terms have been changing (sometimes daily) it is recommended you call for pricing and find out exactly what is available based on your own unique scenario.
Term: 30 years
Maximum Amount: $2,500,000
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5/1 arm for Conforming
5/1 arm products do still exist, however these loan products are not for everyone. These products are typically fixed for the first five years of the loan and than convert to an adjustable loan for the remaining 25 years.
These 5/1 arms can be tied to the 11th district, the Libor, the Treasury bill, as well as a banks own index.
To get the specific annual caps and life caps on this program requires a phone call into our office.
Term: 30 years
Maximum Amount: $417,000
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5/1 Jumbo arm
5/1 arm products do still exist, however these loan products are not for everyone. These products are typically fixed for the first five years of the loan and than convert to an adjustable loan for the remaining 25 years.
These 5/1 arms can be tied to the 11th district, the Libor, the Treasury bill, as well as a banks own index.
To get the specific annual caps and life caps on this program requires a phone call into our office.
Maximum Amount: $725,000
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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 $8,340. 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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