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| 30 year Conventional - Conforming Loans |
| 15 year Fixed |
| Jumbo Loan |
| WHEDA |
| VA |
| Home Equity Loans HELOC |
Rates last updated on Thursday, December 18, 2008
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30 year Conventional - Conforming Loans
Conforming long-term, fixed rate and adjustable loans that meet Fannie Mae and Freddie Mac loan limits and property and borrower guidelines. Generally has higher loan limits than FHA and VA. This is the typical loan and the type you want if you have good credit.
It is subject to conditions established by the lending institution and State statutes. The mortgage rates may vary with different institutions and between States. (States have various interest limits.)
Term: 30 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 5% | 0% | 5.036% |
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15 year Fixed
Term: 15 years
Maximum Amount: $417,000
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| Rates | Points | APR |
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| 5% | 0% | 5.061% |
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Jumbo Loan
A loan that is larger than the conforming loan limit established by Fannie Mae or Freddie Mac. It often has interest rates a little higher than conforming loans.
Term: 30 years
Maximum Amount: $4,000,000
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| Rates | Points | APR |
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| 7.25% | 0% | 7.269% |
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WHEDA
Offers below market, fixed rate financing to low-to-moderate income first-time homebuyers. Wisconsin Housing and Economic Development Authority offers innovative products and services in partnership with others to link Wisconsin residents and communities with affordable housing and economic development opportunities.
To learn more, please visit the Wheda website at www.wheda.com or call us for answers to your specific questions.
Term: 30 years
Maximum Amount: $204,432
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VA
A mortgage for veterans and service persons guaranteed by the Department of Veterans Affairs (VA), requiring very low or no downpayments and with generous requirements for qualification.
Term: 30 years
Maximum Amount: $359,650
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| Rates | Points | APR |
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| 5.5% | 0% | 5.537% |
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Home Equity Loans HELOC
Home Equity Line of Credit (HELOC): A loan for which you can either receive a large sum of money or have an open line of credit that can be drawn as it is needed, with, typically, low interest rates.
Use the equity in your home to make improvements in your home, pay college tuition, unexpected expenses or simply free up some extra cash for the things you want or need to do. Home Equity Lines of Credit (HELOCS) offer numerous benefits and flexibility to homeowners:
- The interest payments can be tax deductible (please consult your tax advisor.)
- They usually have low interest and minimum payments.
- Homeowners do not need mortgage insurance with HELOCs.
- The line of credit is used as you need it and can be paid off at anytime. You can draw on your line of credit from time to time: for example, using a portion of it at one point, then another portion of it at another time, and so on, up to the total amount available. Your monthly payment is based on the amount of your line of credit you have used. You enjoy a lot of flexibility and control over your money.
CALL FOR RATES AND PRICES!
Term: 30 years
Maximum Amount: $500,000
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Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $1,450. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $425,000 with closing costs of $1,450. Your actual APR may be different depending upon these factors.
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