Mortgages Today
Jake Planton – Rose City Mortgage
January 31, 2011
Mortgage Rates- 1/31/2011
There are so many factors on EVERY loan that it can be dangerous to quote. Keep in mind that rates can change hourly on busy days, so this is just a snap shot in time. I want to try and show you how things are moving through each day. Here are the factors I will be quoting:
Purchase, 20% down, owner occupied, single family residence, full documentation, 740 Fico score, $325,000 purchase price, and a loan amount of $260,000, taxes and insurance as part of monthly payment, 21 day lock. (If any one of these factors are different, it COULD change the below rates. This is just a barometer of the current rates).
30 Year Fixed with .625% in origination fee : 4.750% (APR 4.831%) ~ Priced $0 in origination fee: 4.875% (APR 4.963%).
And for people putting down 5%? They still look good for you!
5% down, 30 year fixed—4.750% ( APR 4.831%)!!! That is with .625% in origination.
FHA: Minimum 3.5% down. 4.750%, priced with $0 origination!! APR of 4.932% (MI is factored into APR).
ALL mortgage professionals are REQUIRED by LAW to report APR. The real way to compare lenders is to look at RATE and ORIGINATION fee, from the two lenders, on the same day, at the same HOUR . Keep that ALL in mind.
Keep in mind that I will compete for YOUR business, and I would love to compete!
Speaking of competing….
Here are rates from my big competitors.
Purchase, 20% down, owner occupied, single family residence, full documentation, 740 Fico score, $325,000 purchase price, and a loan amount of $260,000, taxes and insurance as part of monthly payment, 30 day lock. (If any one of these factors are different, it COULD change the below rates. This is just a barometer of the current rates). Rates as of 01/31/2011, 11:02 AM.
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| Rate | APR | Number of Pts | |
| Wells Fargo | 4.875% | 5.065% | 1% |
| BofA | 4.625% | 4.811% | 1.250% |
| US Bank | 4.750% | 4.903% | 1% |
| ME | 4.750% | 4.831% | .625% |
| OnPt | 4.875% | 4.970% | .500% |
(C) 503-475-3788
(F) 503-768-4210
Twitter: @JakePlanton
Ranked in the top 7% of mortgage professionals in Portland by Portland Monthly Magazine, based on customer reviews.
24 NW First Ave. #376
Portland, OR 97209
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