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Feb 22, 2012 - 8:32am - Home Sales Jump - Time to Buy!
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Home Sales Jump, so Don't be a Sheep!
Record low rates holding - refi before they rise!
 | | Home sales are now at the highest level in years, and rental rates are also rising. Combine that with the lowest rates in history, and you have an amazing time to buy your dream home, or investment property! |
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Today's Rates at a Glance
Pricing shown actually available at time of publication and may change during the day. "Zero-cost" loans available. Call for details.
CONFORMING (Payment shown based on $250k)
RATE APR P&I Pmt
3.750 3.869 $1158 30yr Fixed - WOW!
4.000 4.253 $1194 30yr Fixed - 97%LTV with MI
4.500 4.631 $1267 30yr Fixed - 95%LTV - NO MI
3.750 3.843 $1482 20yr Fixed
3.000 3.099 $1726 15yr Fixed
4.125 4.208 $1212 30yr Fixed investment
2.625 2.684 $1004 5/1 ARM
3.000 3.026 $1054 7/1 ARM
3.500 4.186 $1158 30yr Fixed FHA
3.750 4.189 $1158 30yr Fixed VA with lender credit!
2.750 3.133 $1021 5/1 ARM FHA
Fantastic pricing also available for VA & USDA
JUMBO (Payment shown based on $600k)
RATE APR P&I Pmt
4.250 4.326 $2952 30yr Fixed Purchase Special!!
4.375 4.451 $2996 30yr Fixed Jumbo - WOW!
3.000 3.021 $2530 5/1 ARM Jumbo - WOW!
3.125 3.206 $2570 7/1 ARM Jumbo - WOW!
We have Jumbo Loans up to 90% loan-to-value
Current Product Offerings Include:
Purchase, Refinance, Construction, Commercial, Investment Property, Single & Multi-family, Conventional, FHA, VA, USDA, Cash-out, Streamline refi's, No-Cost refi's available ... and more ... And we lend our own funds for most of these loans (closing faster than brokers, big banks, credit unions with better rates)
Interest rates as of 22 February 2012 - 8:32am PST, and are subject to change without notice. Please call for up-to-the-minute accurate quotes and Pre-Approvals. Pricing based on a single-family primary residence and 25day lock in Oregon. Washington rates "may" vary slightly. FHA, USDA, VA rates factored on a middle credit score of 620 and 96.5% ltv for FHA and 100% ltv for USDA or VA. USDA has income & property restrictions. Lower credit score loans are possible under certain circumstances (call for details). Conventional rates shown based on credit-score of 740 and 75% or less ltv, with impounds. Jumbo pricing based on 75% ltv (fixed) and 75% ltv (ARMs) with impounds. Lower credit-score programs may be available at slightly higher rates. Reduced or "no-cost" loans available upon request. Other restrictions to any program may apply. This offer is not a firm committment to lend. Individual program qualifications may apply. Currently locked rates may be reduced if enough market improvement - call for details on our "floatdown" policy.
Call 503.698.5801 for program details and scenarios ... find out what you qualify for!
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 Top News of the Day
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Should I Refinance or Wait?
Right now, a lot of people are looking at the new record low mortgage rates and asking themselves whether this is the time to pull the trigger on a refinance of their home loan. Yes, it's the right time, and here's why ... Rates are only low because ... of the continuing issues in Europe. In the past several weeks, S&P downgraded nine of the EU countries debt ratings. This is the same thing that happened here in the U.S. last August. So for the time being, major investment money is flowing out of Europe and back into the U.S. bond, treasury, and mortgage-backed-securities markets.
All the negative attention on the European economy is forcing their politicians to take notice, and action. If any positive resolution is announced on a bailout for Greece ... and that just happened TODAY ... then money will start to flow back to Europe and our borrowing rates will rise.
Bank Lending fees may rise further The 2-month payroll tax extension that went into effect recently will be paid for through a "tax" on new home loans that close after Feb 29, 2012. The Government will assess a fee of 0.10% to loans purchased by Fannie-Mae, Freddie-Mac, and FHA (90% of U.S. loans). It will take 10yrs of this "tax" to pay for the 2-month extension.
This could just be the beginning. There is major political pressure to shrink our country's dependence on Fannie and Freddie, and the taxpayer burden of their losses. This will most likely be a forced reform done through higher fees to reduce the size of these two agencies portfolios. Higher fees to cover losses will mean higher rates for borrowers.
Bottom line for borrowers ... If you have an interest rate at least 1/2% above the current market, then you should look into refinancing now. If you can save anything on your payment, and recover closing costs (and some loans have no cost) in a short period of time, then it's worth it. I can run the numbers and tell you immediately if there is a benefit for you. Only takes 10min to get started!
LOCK your refinance or purchase loan ASAP Call me to qualify and get started ... 503.698.5801
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Eric clients rate him Excellent in Customer Satisfaction!!
(independent survey)
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Who We Are
Skyline Home Loans is a DIRECT LENDER. This means we fund most of our loans through our own bank lines, have in-house underwriting & funding, along with very competitive terms and fees. We have assembled one of the strongest teams in the industry, which allow us to provide outstanding customer service.
Whether you are purchasing your first home, or your 10th rental property, we are committed to explaining all the available options and ensuring a smooth & timely closing.
What If I Lock and Rates Dip?
If you instruct us to lock your rate, and the next week the market improves enough, we may be able to reduce the rate we locked for you by re-negotiating with our investors.
We are monitoring the markets in real-time EVERY DAY, so if a change occurs, we will notify you. Any change does require enough market improvement (usually 1/4 - 3/8%) - call for details.
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