Total Mortgage offers a variety of jumbo mortgage loans which are available at some of the most affordable mortgage rates in the industry. Jumbo mortgages are mortgage loans which are above conventional conforming loan limits set by Fannie Mae and Freddie Mac. The conforming loan limits vary by location. The conforming limit for most areas is $417,000, and any loan amount above this limit is considered a jumbo loan. Other more high cost areas such as Los Angeles, CA, and Westchester county, NY have conforming limits up to $729,750, and any loans over that are jumbo mortgages. You can also check the conforming loan limit for the location where you want to purchase.
Currently Total Mortgage is offering 30 year fixed jumbo mortgages and 15 year fixed jumbo mortgages. A 30 year fixed jumbo mortgage is available to qualified borrowers at a 4.875 percent interest rate and 5.098 percent APR, and 15 year fixed jumbo mortgages are offered at a 4.000 percent interest rate and 4.349 percent APR.
Total Mortgage also offers a variety of jumbo adjustable rate mortgages at affordable rates. A 5/1 ARM jumbo mortgage is available at 3.625 percent and 3.657 percent APR, and a 1/1 ARM jumbo mortgage at 0 points is available at 3.350 percent and 3.957 percent APR.
For more information on our jumbo mortgage rates and products, please call 877-868-2503 to speak with a licensed mortgage expert immediately.
Mortgage rates are always changing. All rates were quoted at 10:15 A.M., on October 11, 2010.
*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 2 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.
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mortgage321
October 11, 2010 @ 1:01 pm
Good articles and great information on ur site
thanks we like keep updated on the latest mortgage trends and news in these currently financially trying times. I
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