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10 Year Fixed APR

3.66%

07/28/2010

1:44PM

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Today's Rates

Affinity Mortgage offers home loans nationwide.  We have over 80 lenders waiting for the chance to serve you.  Contact us or apply today for your next home loan.  If you want to refinance, sign up for Rate Watch today, and let us monitor rates for you!

Conforming Loan Programs - Loan Amounts of $417,000 or less

PROGRAMS RATE APR

30 yr Fixed

4.37%

4.599%
20 yr Fixed 4.25% 4.31%
15 yr Fixed 3.75%

3.84%

10 yr Fixed 3.625% 3.66%
F.H.A. 4.375% 4.599%
V.A. 4.375% 4.599%
Rural Development 4.375%

4.599%

Please note:  Rates are based on a purchase transaction with loan amounts greater than $350,000 and a 20% downpayment, 1% origination, 30 day rate lock, and establishment of escrow account.     Cash out refinances, loans with LTV's greater than 80 and locks longer than 30 days may have slightly higher rates and may require PMI.  Other loan parameters may affect the rate.   Even though we try to keep our rates current, they are subject to change at any time.

Jumbo Loan Programs - Loan Amounts $417,000 to $1,000,000

PROGRAMS RATE APR
30 yr Fixed - Jumbo

Call

Call

15 yr Fixed - Jumbo Call Call
 7/1 ARM - Jumbo Call Call
 5/1 ARM - Jumbo Call Call
 3/1 ARM - Jumbo Call Call

Please note:  Rates are based on purchases with loan amounts greater than $600,000 with 80% or less loan to value ratio's, 1% origination, 30 day rate lock and establishment of escrow account.   Cash out refinances, loans with LTV's greater than 80% or rate locks greater than 30 days may have slightly higher rates and may require PMI.   Other loan parameters may also affect the rate.  Even though we try to keep our rates current, rates may change at any time.

Our company offers fast, efficient loan processing with free pre-approvals and low or no closing costs options.  Affinity Mortgage Services is able to assist in the financing of manufactured housing, jumbo mortgages, construction loans, raw land, acreage, and rural development loans.  In addition, we can also assist in the financing needs of the self-employed and those with "less than perfect" credit.

 
Conventional Fixed Rate Products
Rural Development Loans
FHA - Government Insured
Veteran's Administration Loans
Debt Consolidation or Cash Out Refinance
Jumbo Loan Products
Adjustable Rate Mortgages (ARM's)
Closing Cost Information

Rates last updated on Monday, June 28, 2010

Conventional Fixed Rate Products

A conventional loan has a fixed interest rate in which the principal and interest payment remains the same over the life of the loan.  Terms from 10-30 years are available.  The major advantage is that you are protected if interest rates go up, yet you have the flexibility to refinance without a prepayment penalty if the rates go down.   Shorter terms typically have a lower rate.

Term: 30 years   Maximum Amount: $417,000
RatesPointsAPR
4.375%1%4.599%

Rural Development Loans

There is a way to finance a home with no down payment.  The Rural Development program helps anyone who meets the income guidelines required, to acheive their dream of homeownership.     

Rural Development loans allow those with good credit to finance 100% of the sales price.  Your closing costs may be financed into your loan, if the value of the property is sufficient.

100% financing does not always mean higher rates. Call us for details!

Rural Development Loans do have income limits and other program criteria that can affect your eligability.  It is best to call us to find out if this loan best fits your needs.

Manufactured homes are eligable for Rural Development loans! (Must be a "double wide" and have a permanent foundation)

Term: 30 years   Maximum Amount: $417,000
RatesPointsAPR
4.375%1%4.599%

FHA - Government Insured

FHA (Federal Housing Administration) loans are very flexible. 

Do you want to buy a home but have limited funds for a down payment?  FHA currently allows for up to 96.5% financing!

Are you paying high credit card rates but have limited equity in your home?  FHA allows you to use up to 85% of the value of your home to consolidate your high interest loans.

Are you stuck in a high rate mortgage and just want to refinance to a lower rate but have limited equity in  your home?  FHA allows for 96.5% non-cash out rate/term refinancing!

Do you have an FHA loan and want a lower rate? Ask about an FHA STREAMLINED Refinance!

If your credit score has been damaged because of tough times - don't be afraid to call.  FHA has flexible credit scoring guidelines.

There are no income limits for FHA loans - everyone can apply - whether your income is very high or not so high.

If you are purchasing a home, the seller can contribute up to 6% toward your closing costs!

Term: 30 years   Maximum Amount: $271,050
RatesPointsAPR
4.375%1%4.599%

Veteran's Administration Loans

If you are a veteran or the surviving spouse of a veteran, you may qualify for a VA loan.

There is no minimum credit score for VA loans.  100% financing is allowed with no monthly mortgage insurance premiums.

If you are purchasing a home, the seller can contribute up to 4% toward your closing costs!

Manufactured homes are eligable.

We are proud to assist our troops in home ownership!

Term: 30 years   Maximum Amount: $417,000
RatesPointsAPR
4.375%1%4.599%

Debt Consolidation or Cash Out Refinance

Debt consolidation loans can allow you to use the equity in their home to pay off existing debt which may lower your overall monthly payments.  Cash out refinancing also uses the equity in your home, but does not dictate what the loan proceeds are to be used for.  Your loan officer can help determine what your options are and which program is best for your current situation.

Term: 30 years   Maximum Amount: $417,000
RatesPointsAPR
4.375%1%4.599%

Jumbo Loan Products

As of January 1, 2006, all mortgages in excess of $417,000 are considered jumbo mortgages.   Generally, the rates are slightly higher than conventional mortgages.   Jumbo mortgages are available in both fixed rates, ARM's and interest only products.   Single family residential, condos and single family second homes can be financed with no prepayment penalty with full documentation, alternative documentation, limited documentation or no documentation financing methods.


Adjustable Rate Mortgages (ARM's)

An adjustable rate mortgage (ARM) offers payment terms up to 40 years.  Rates are generally lower than fixed rate mortgages.  This allows you to qualify for a higher loan amount.  A borrower can also choose an ARM product based on the length of time they plan to occupy the house.   The rate on an ARM is limited as to how much it can increase or decrease at each adjustment period.   This means that your monthly payment can go up or down. Virtually all ARM products put a ceiling on the maximum interest rate increases per period and life of the loan.   It is a trade off; you get a lower rate with an ARM in exchange for assuming more risk. 


Closing Cost Information

Only certain "loan related" fees are listed here.   Fees listed below show costs that are standard for most loans that we do.   These fees would be itemized with an '801-820' or '1301-1310' number on our Good Faith Estimate and HUD1/HUD1-A Settlement Statement.

There may be other fees that you will be expected to pay when obtaining a home loan with any lender.   These fees are based on the value of your home, whether or not the loan is for a home purchase, and local customs regarding the buyer's/seller's obligation to pay certain fees.   Since this will vary from person to person, we cannot list all fees including title search, title insurance, prepaid escrow funds for taxes and insurance, city and/or state stamps/assessments, or closing/settlement services by a title company.

 

* Rates, points, fees and third party expenses can not be guaranteed and are subject to change without notice. Fees will vary for certain loan programs depending on which Lender is chosen to best match your needs. 



Closing Costs These are the current interest rates and fees for our most popular products on a single-family primary residence using a 30-day lock.  Your final rate will also depend on your specific circumstances including credit, employment and assets.     

The above quoted rates assume 20.0% equity in property value/purchase price.    If the down payment is less than 20.0% mortgage insurance may be needed which could increase the payment and APR. Not applicable to VA or FHA loans - please call for details.

All loans assume the same criteria as the above information with the only difference being the term.


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 $6,670. 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 $12,500. Your actual APR may be different depending upon these factors.