Mortgage Update - Friday, April 15th, 1011
The Friday Brief
Current Interest Rates
417K and below with 0 points 30yr fixed 4.750 FHA/VA 4.625 15yr
Fixed 4.125 5yr ARM 3.375 FHA 3.750
417-729k with 0 points 30yr fixed 4.875 FHA/VA 4.750 15yr
Fixed 4.250 5yr ARM 3.500 FHA 3.750
SunTrust Portfolio Affordable Loan Product-What's the big deal?
97% Financing with no MI for loan amounts up to 417K
A great option for First Time Homebuyers(but not limited to FTHB). This can be a huge tool for buyers, especially condo buyers! There is no investor ratio restriction. The condo can be over 49% investors. The monthly payment is LESS than FHA. Down payment is LESS than FHA. This is a SunTrust Community Reinvestment product. The property does have to be in a targeted area and there are income limitations.
-Primary Residence
-Loan amounts 417k and below
From Bruce
Time is at once the most valuable and most perishable of all our possessions. -John Randolph
Have a great weekend,
Bruce
Bruce Rosenberger
Chairman's Team
SunTrust Mortgage, Inc
Cell 703.850.1349
Buying or Selling a home in Northern Virginia? Contact Kim Darwaza of RE/MAX Allegiance for all of your Real Estate needs at 703-856-2254 or kim@kimdarwaza.com. To search the MLS please visit http://www.kimdarwaza.com.