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. Rates and guidelines are currently changing very rapidly, so scenarios from even a few days ago may not reflect current market conditions; again, all scenarios below are provided for historical example purposes only and are not an offer of credit under any of these terms.)

• $1.5 million purchase, $1.2 million loan (20% down), 5/1 ARM: 4.125% paying 0 discount points, for a monthly PI payment of $5,815.50.
• $1.2 million purchase, $960k loan (20% down), 10/1 Interest-Only ARM: 4.750% paying 0 discount points, for a monthly Interest-Only payment of $3,800.
• $250k HARP PIW refi–no appraisal/LTV required, 30-yr FRM: 4.750% paying 0 discount points, for a monthly PI payment of $1304.12.

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4. How Ethical Homes’ Mortgage Team Helps Buyer Agents Close More Deals
5. Construction / Acquisition & Development Loans
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9. Mortgage Market Update 7/17/09
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Tags: mortgage, scenarios