We now have a lender who will approve any conventional condo project to FHA at no cost to the borrower with quick turn times (usually two weeks to approve). What this means is I can provide your client(s) FHA financing and you’ll now be able to show them any condo project without having to narrow your search to FHA approved projects only. As long as the HOA/project is in good standings, there’s high probability we can convert it to FHA.
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4/22/10 purchase rates with 0% points
30-yr fixed @ 5.125%
15-yr fixed @ 4.375%
5-yr ARM @ 3.875%
5-yr Interest Only @ 4%
FHA 30-yr fixed @ 5.125%
FHA 5-yr ARM @ 4%
30-yr fixed jumbo @ 5.875%
5-yr jumbo ARM @ 4.125%
5-yr Jumbo Interest Only @ 4.25%
Purchase rates with optional 1% point
30-yr fixed @ 4.875%
15-yr fixed @ 4.125%
5-yr ARM @ 3.375%
5-yr Interest Only @ 3.5%
FHA 30-yr fixed @ 4.875%
FHA 5-yr ARM @ 3.5%
30-yr fixed jumbo @ 5.625%
5-yr jumbo ARM @ 3.875%
5-yr Interest Only @ 4%
Mike Jennings Sr. Residential & Commercial Consultant Nominated 2009 Mortgage Company of the Year |
