 June 8, 2009
CONVENTIONAL 30 YR FIXED - *5.625% CONVENTIONAL 15 YR FIXED -*5.125% VA 30 YR FIXED - 5.75% (barely) VA 15 YR FIXED - 5.50% FHA 30 YR FIXED - 5.750% FHA 15 YR FIXED - 5.50% USDA - 6.0% Ø In today’s market, rates are determined by several factors. Loan to value, credit scores, loan details, and loan amount all play into the rate on any transaction. We just cannot quote rates randomly. Ø I quote conventional rates on 95% loan at $100,000 for a primary residence with a score of 740. There are various rate hits for scores below this and most PMI companies will no longer insure loans with scores below 680. Ø I quote FHA and VA rates on $100,000 loan amount with 680 score. The minimum score for VA and FHA loans is 600 but keep in mind we only have one investor left who will finance scores that low. Most have a minimum score of 620 or 640. Non-traditional underwriting (meaning borrowers with no credit score but who have rental history, etc.) is no longer an option. Ø Higher loan amounts may have better rates. Ø We do offer 203k financing, GA Dream product, and the $14,000 NSP down payment assistance; however, there are very specific conditions on this and they take approximately 60 days to close right now. Tiffany Mazo, Loan Officer (478) 953- 6828 office (478) 542-1431 cell Member FDICGeorgia Residential Mortgage Licensee Tiffany H Mazo Mortgage Lending Officer Atlantic Southern Bank (478) 953-6828 office (478) 542-1431 mobile (478) 953-7444 facsimile
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