Las Vegas Interest Rates Up This Week jumped to the highest level this year. The highest
they have been in seven months since November 2008.
Now, keep in mind that on a $150,000 loan every one-half point in rate is less than $50 per month. The benefits of home-ownership today, including historically low prices, should make rising rates less concerning.
If rates are an issue, consider the 5/1 FHA Hybrid. Its at 4.250% today!!!
Its fixed for five years at 4.250% today (4.521 APR). It can only adjust to 5.250% in year six and it may be able to be refinanced in a streamline refinance (no appraisal, no income verification, no asset verification) at a later date if the 30 year rate lowers.
WEEKEND RATES - PLAN ON AROUND:
5.500% (APR 5.770) FOR A 30 YR FIXED CONVENTIONAL LOAN with 1.000 points, NO ORIGINATION!
5.500% (APR 5.792) FOR A 30 YR FHA / VA LOAN, WITH 1.250 POINTS, NO ORIGINATION!
4.250% (APR 4.521) FOR A 5 YR FHA HYBRID, WITH 1.250 POINTS, NO ORIGINATION!
5.875% (APR 6.174) ON A 30 YR JUMBO LOAN OVER $417,000 with 1.250 POINTS, NO ORIGINATION!
5.000% (APR 5.262) ON A 5 YR JUMBO ARM with 1.000 POINTS, NO ORIGINATION!
6.375% (APR 6.648) ON A 30 YR INVESTOR LOAN UNDER $417,000 WITH 20% DOWN with 0.875 POINTS, NO ORIGINATION (720 mid score)!
6.000% (APR 6.278) ON A 30 YR INVESTOR LOAN UNDER $417,000 WITH 25% DOWN with 1.000 POINTS, NO ORIGINATION (720 mid score)!
NO ORIGINATION FEE ON ANY OF THE LOANS ABOVE. These rates are for purchases only. Refinance rates are slightly higher.
Las Vegas Investment Homes - Tenant in Place
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If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!
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