Stupid-Low Home Mortgage Rates Makes Homes Stupid-Affordable
Stupid-Low Mortgage Rates Today Buys A Lot Of Home In Woodbridge
You Can Buy More Home In Woodbridge With Low Monthly Payments
You May Be Shocked When You Get Prequalified For A Home Loan
My pal Vinnie and McLean Lending sent the schedule of interest rates on home loans, pasted below.
You can buy a $500,000 home with an FHA loan at 3.75%, and your monthly payment will be $2,316 for the loan, plus monthly escrows for real estate taxes and home owners insurance.
You only need 3.5% down payment with FHA financing. The down payment for a $500,000 house would be just $17,500, and you can get that money from a relative.
Stop and take time to Google the real estate market trends. The market is gaining ground from the bottom of the slump in 2008.
|
Program |
Rate |
Loan Amounts |
|
30 Year Fixed |
3.750% |
≤ $417,000 |
|
30 Year Fixed |
4.000% |
> $417,000 |
|
30 Year Fixed Jumbo |
4.375% |
> $625,500 |
|
FHA/VA 30 Year Fixed |
3.750% |
≤ $417,000 |
|
FHA/VA 30 Year Fixed |
3.750% |
>$417,000 |
|
5/1 ARM |
2.625% |
≤ $417,000 |
|
5/1 ARM |
2.875% |
> $417,000 |
|
5/1 ARM Jumbo |
2.875% |
> $625,500 |
