Mortgage Rates Drop…

Mortgage costs and rates were expected to climb after the Federal Reserve raised its benchmark lending rate in December, but mortgage rates for 30-year loans fell to the lowest level since late April 2015, reducing borrowing costs.

The reason borrowing costs are declining is due to turbulent global markets and slowing U.S. job growth. These recent signs of economic slowdown has been driving investors to the safety of U.S. government bonds, which translates to lower mortgage rates. That is good news at the start of the prime home buying/selling season, which traditionally begins after this Sunday’s Super Bowl.

There are measurable tax benefits for being a homeowner so if you are thinking homeownership could be right for you, now is the time to get pre-approved. If you are thinking of refinancing and lowering your rate and/or consolidate some debt, this might be the right time to do so.

We are constantly looking to expand our product offering and provide you with better options. Below are some niche products to consider:

  • Piggy back Jumbo loans 10% down and up to $1M and no mortgage insurance
  • Jumbo loans up to 2 M with 15% down and no mortgage insurance
  • Conventional loans with 3% down FICO scores as low as 620
  • High balance conventional loans ($625,500) with 5% down
  • Interest only 80% LTV 2M 49% Debt to income ratios 30-40-year amortization
  • Home Renovation loans up to 95% LTV (After improved value)
  • Super Jumbo products up to 20 Mill.

Current Conforming Rates (Pmyts based on a average loan amount of $250,000)

Loan Program Monthly Pmyt Rate APR Points
30YF $1,122 3.50% 3.875% 0
20YF $1,417 3.25% 3.625% 0
10YF $2,370 2.625% 3.00% 0
15YF $1,696 2.75% 3.125% 0
5/1 ARM $1,004 2.625% 3.00% 0
7/1 ARM $1,037 2.875% 3.125% 0
10/1 ARM $1,070 3.125% 3.375% 0
FHA 30YF $1,088 3.25% 3.625% 0
FHA 15YF $1,696 2.75% 3.00% 0

Current High Balance Rates – Max Loan Amount $625,500 (Pmyts based on loan amounts of $625,500)

30YF $2,852 3.625% 3.875% 0
15YF $4,244 2.75% 3.00% 0
5/1 ARM $2,595 2.875% 3.125% 0
7/1 ARM $2,637 3.00% 3.50% 0
10/1 ARM $2,765 3.375% 3.625% 0
FHA 30YF $2,896 3.75% 3.875% 0
Jumbo Rate   Call us    

Disclosure: These are our current conforming and High Balance rates based on primary residences only, your actual rate could be higher depending on “Risk Factors” such as credit score, LTV, Cash-out, Investment prop, 2nd home, zero cost etc. Please call us for an accurate custom quote including jumbo loans up to $20 million.

The cornerstone of Trulending Mortgage is a fierce commitment to integrity, service and expertise and these core values have, thankfully, resulted in client relationships for life. We appreciate the opportunity to work with you on your next refinance or home purchase transaction. Visit our testimonial section to see what our customers are saying. Please pass this along if you think we can help any of your close friends or family.

What people are saying…testimonials

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