Here’s a quick overview of current mortgage rates/payments for some typical scenarios that we have run for consumers recently.

(These scenarios are for example purposes only, and are not an offer of credit. All scenarios, unless otherwise noted, presume a borrower with at least a 780 median FICO score and sufficient income, assets, and employment history to qualify for the loans in question, purchasing a detached single-family property in Virginia and planning to occupy that property, with a fully-amortizing mortgage.)

• $370k purchase, $296k loan (20% down), 10/1 Interest-Only ARM: 4.750% paying 0 discount points, for a monthly Interest-Only payment of $1,171.67.
• $475k purchase in DC, $427,500 loan (10% down), 30-yr FRM: 5.250% paying 0 discount points, for a monthly PI payment of $2563.08.
• $192k refi on condo in DC, 90% LTV, 30-yr FRM: 5.500% paying 0 discount points, for a monthly PI payment of $1,090.15.
• $385k purchase, $308k loan (20% down), 15-year FRM: 4.375% paying 0 discount points, for a monthly PI payment of $2336.55.

Possibly related posts (automatically generated):

1. Mortgage Scenario Snapshot 10/22/09
2. Mortgage Scenario Snapshot 12/5/09
3. FHA changes mortgage insurance premiums
4. Estimating Monthly Payments (the old version)
5. Estimating Monthly Payments
6. HUD Increases FHA Mortgage Insurance Premiums
7. PITI
8. Mortgage Market Update 7/17/09
9. Exclusive Discount For Members Of The Arlington Chamber Of Commerce
10. Mortgage Market Update

Tags: mortgage, scenarios