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This Site Consists of Three Parts: |
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CURRENT
INDEX INFORMATION |
Wall
Street Journal
Prime Rate = 5.00% (05/01/2008)
Weekly
One Year Treasury
1.93% (05/02/2008
Monthly
Treasury Average
(MTA) = 3.528% (05/01/2008)
One Year Libor
= 2.97% (05/08/2008)
11th District Cost of Funds
(COFI) = 3.280% (Feb2008)
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2) Today's Pre-3:00 PM Cost Changes: |
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3)
Rates & Costs
@ $200,000 & $400,000 |
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From 1983 to 2004 I, Roger Harrington, Was The Nation's First and Only Fee-only Mortgage Consultant.
You May Remember Me From Star Tribune, Pioneer Press, Sound Money and Right On The Money.
Since 2004, I've Offered Guidance, Low Costs and Service To the Public as an Advisor's Mortgage, LLC Loan Officer.
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05/09/2008 Quick Rate Check: (See Details Below)
$200,000, Amortized, 30 Year Fixed - Less Than 1% Orig. & 0 Points: 5.750% (Apr: 5.884)
$200,000, Amortized, 30 Year Fixed - Close or Better Than "No Lender Fee": 6.250% (Apr: 6.242)
$200,000, Amortized, 30 Year Fixed - Close or Better Than "No Lender, Title or Govt. Fees": 6.500% (Apr: 6.432)
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5/09/2008 COST CHANGES TO THE $200,000 5.750% FEES BELOW:
On 05/09/2008 At About 10:00 AM My "Total Net Closing Cost" Was $800 Lower Than at the COB On 05/08/2008:
On 05/09/2008 At About 12:00 AM My "Total Net Closing Cost" Was $200 Lower Than at the COB On 05/08/2008:
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CLOSING COST ESTIMATES FOR SPECIFIC $200,000 & $400,000 LOANS!
If You Have Questions About These Examples click on the "?" or Contact Me!
Rates shown are informational only. This is not an offer to enter into a lock or extend credit.
?Aproximately 3:00 PM On May 09, 2008
? FOR
A $200,000 / 20% Down / Single Family / Owner Occupied / 30 Year / Fixed Rate / Fully Amortized / Full
Documentation / Purchase / 700+ Credit / 30 Day Lock / Closing On The 1st / In Hennepin or Ramsey County:
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5.750 |
5.884 |
$2,610 |
6.000 |
6.067 |
$1,154 |
6.250 |
6.242 |
-$444 |
6.500 |
6.432 |
-$1,700 |
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Other Costs For All Rates : |
? 1st Yr. Hazard Ins.
? Hazard & Tax Escrow
? Title
Fees
? Government
Fees
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| ? Other Fees: |
$1,945 + |
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? Total Net Closing Costs: |
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$4,555 |
$1,167 |
$975 |
$3,099 |
$1,199 |
$999 |
$1,501 |
$1,231 |
$1,023 |
$245 |
$1,264 |
$1,047 |
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Questions: If a lender doesn't mention the above extra $1,945+ in fees that you will be paying - you aren't being well served!
If you could avoid $1,456 in fees by taking a 1/4% higher rate and paying $32 more monthly, ($24 after tax), - Should you?
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? FOR
A $400,000 / 20% Down / Single Family/ Owner Occupied / 30 Year / Fixed Rate / Fully Amortized / Full
Documentation / Purchase / 700+ Credit / 30 Day Lock / Closing On The 1st / In Hennepin or Ramsey County:
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5.750 |
5.832 |
$3,266 |
6.000 |
6.015 |
$354 |
6.250 |
6.190 |
-$2,842 |
6.375 |
6.276 |
-$4,446 |
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Other
Fees For All Rates : |
? 1st Yr. Hazard Ins.
? Hazard & Tax Escrow
? Title
Fees
? Government
Fees
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| ? Other Fees: |
$3,100 + |
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? Total Net Closing Costs: |
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$6,366 |
$2,334 |
$1,721 |
$3,454 |
$2,398 |
$1,758 |
$258 |
$2,463 |
$1,796 |
-$1,346 |
$2,495 |
$1,815 |
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Questions: If a lender doesn't mention the above extra $3,100+ in fess that you will be paying - you aren't being well served!
If you could avoid $2,912 in fees by taking a 1/4% higher rate and paying $65 more monthly, ($38 after tax), - Should you? |
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Also: Jumbos, All Rates, Terms & Locks, Conventional For 1st & 2nd Homes & Investment Properties, & FHA & VA
Ask about: Interest Only, ARM's, Single Close, Reverse Mortgages, HELOC's, Fixed Rate Seconds and Commercial
For Properties in Minnesota, Wisconsin & Florida
QUESTIONS: Call me at 651 426-7374 or Click "Get
Started" to send me an email.
"Anyone
certain of tomorrow's interest
rate direction is either a
fool or a liar." |
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