News Release

FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017. In most of the country, the 2017 maximum loan limit for one-unit properties will be $424,100, an increase from $417,000.  This will be the first increase in the baseline loan limit since 2006.

Conforming Loans
Loan Programs Rates Points APR Get Started
30-YEAR FIXED 4.125 % 0.000 4.198 % GET A CUSTOM RATE
15-YEAR FIXED 3.375 % 0.000 3.412 % GET A CUSTOM RATE
5/1 ARM 3.625 % 0.000 3.864 % GET A CUSTOM RATE
7/1 ARM 3.750 % 0.000 3.829 % GET A CUSTOM RATE
10/1 ARM 3.875 % 0.000 3.925 % GET A CUSTOM RATE
High Balance Conforming Loans
Loan Programs Rates Points APR Get Started
30-YEAR FIXED 4.500 % 0.000 4.591% GET A CUSTOM RATE
15-YEAR FIXED 3.750% 0.000 3.826 % GET A CUSTOM RATE
Jumbo Loans
Loan Programs Rates Points APR Get Started
30-YEAR FIXED 4.375 % 0.000 4.428 % GET A CUSTOM RATE
15-YEAR FIXED 3.875 % 0.000 3.915 % GET A CUSTOM RATE
5/1 ARM 3.875 % 0.000 3.918 % GET A CUSTOM RATE
7/1 ARM 4.000 % 0.000 4.091 % GET A CUSTOM RATE
10/1 ARM 4.125 % 0.000 4.194 % GET A CUSTOM RATE
FHA Loans
Loan Programs Rates Points APR Get Started
30-YEAR FIXED 3.750 % 0.000 3.818 % GET A CUSTOM RATE
VA Loans
Loan Programs Rates Points APR Get Started
30-YEAR FIXED 3.750 % 0.000 3.868 % GET A CUSTOM RATE

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Rates last updated: 8:07 am (PSD) on 12/02/2016
30-Year Fixed-Rate Mortgage:The payment on a $200,000 30-year Fixed-Rate Loan at 3.500% and 80% loan-to-value (LTV) is $898.09 with 0 points due at closing. The Annual Percentage Rate (APR) is 3.513%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
15-Year Fixed-Rate Mortgage:The payment on a $200,000 15-year Fixed-Rate Loan at 2.875% and 80% loan-to-value (LTV) is $1,369.17 with 0 points due at closing. The Annual Percentage Rate (APR) is 2.898%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply.
Adjustable-Rate Mortgage:  All of our ARM’s (adjustable rate mortgages) are 30 year loans. They have an initial (introductory rate) fixed and fully amortized during the fixed rate period. At all times these loans will be fully amortizing loans paying off in 30 years. Whatever ARM you select (3/1,5/1,7/1or 10/1) all of these loans have a fixed rate which is fully amortizing during the locked period you take.
Example:
The initial payment on a 5/1 fixed rate loan with a fixed rate of 3.125%. A loan amount of $200,000 (80% loan to value) would provide a monthly payment of $856.75 with 0 origination points.  The Annual Percentage Rate (APR) is 3.184% and this is fully amortized. After the initial 5 years, the principal and interest payment is subject to a potential increase but may not adjust more than two percent over the initial fixed. This would be a fixed and fully amortized rate. The adjustment would be based on 1-year LIBOR index plus 2.25% margin at that time. Your initial adjustment cap cannot be more than two percentage rate higher than the initial rate during the fixed-rate period and the lifetime adjustment cap is five percent, meaning that the rate can never be five percent higher than the initial rate (8.125%). The payment shown does not include taxes and insurance premiums. The actual payment amount will be greater when factoring in your taxes and insurance. The loan does is not a negative ARM and will payoff over 30 years.