Century Preferred Mortgage
Current Rate 4.30% 30 Year Fixed (Owner occupied)
Steven Olvera
Loan Officer for Century Preferred Mortgage (Se Habla Espanol)
Ph. (909) 381-6007 Cell (909) 772-9624 Fax (909) 381-6635
solvera@centurypreferredmortgage.com
INTEREST RATES AS OF 09/1/2010
|
LOAN PROGRAM |
MIN. DOWN |
MAX LOAN AMT |
MIN FICO SCORE |
DOC TYPE |
RATE |
COSTS (Points) |
|
VA LOAN |
0% |
$417,000 |
620 |
FULL |
4.50 |
0 PTS |
|
VA JUMBO LOAN |
Varies-*see example below |
$1.5 MIL |
660 |
FULL |
4.50 |
0 PTS |
|
FHA 30 YR FXD |
3.5% |
$417,000 |
620 |
FULL |
4.30 |
0 PTS |
|
FHA JUMBO |
5% |
$500,000 |
680 |
FULL |
4.50 |
0 PTS |
|
CONF REG. 30 YR FIXED |
10% |
$417,000 |
680 |
FULL |
4.625 |
0 PTS |
|
NON CONF (JUMBO) 30 YR FIXED |
20% |
$650,000 |
720 |
FULL |
5.50 |
0 PTS |
|
CONF REG. 30 YR FIXED -2ND HOME |
20% |
$417,000 |
720 |
FULL |
4.625 |
0 PTS |
|
CONF REG. 5/1 ARM |
5% |
$417,000 |
740 |
FULL |
3.25 |
0 PTS |
|
CONF REG. 3/1 ARM |
20% |
$417,000 |
740 |
FULL |
3.375 |
0 PTS |
PROGRAM: MAX LOAN AMOUNTS EFFECTIVE 07/30/2009:
VA UP TO $417,000 MAX FOR ZERO DOWN
VA PLUS UP TO $1.5 MILLION
FHA STANDARD: UP TO $417,000 MAX
FHA JUMBO UP TO 500,000 MAX
CONFORMING: UP TO $417,000 MAX
NON CONFORMING (JUMBO): $417,001 TO $650,000 MAX
(2010 MAX LOAN LIMITS FOR RIVERSIDE & SAN BERNARDINO COUNTIES)
*VA JUMBO LOAN EXAMPLE:
THE FIRST $417,000 OF THE VA LOAN = $0 DOWN
ANY AMOUNT IN EXCESS OF $417,000 = 25% DOWN PAYMENT ON THAT AMOUNT
EXAMPLE: A TOTAL LOAN OF $450,000 WOULD BE $33,000 OVER THE NO MONEY DOWN LIMIT OF $417,000
YOUR 25% DOWN PAYMENT ON THAT $33,000 = $8,250 (1.83% DOWN)
THE BUYER (OR SELLER) IS REQUIRED TO PAY A VA FUNDING FEE IN CASH UP FRONT
THE FUNDING FEES CANNOT BE FINANCED ABOVE CONFORMING LOAN LIMIT OF $417,000
BORROWER/SELLER PAYS THE FUNDING FEE IN CASH FOR LOANS BETWEEN $417,000 AND $1.5 MILLION
