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Record Low Rates, Get What You Need

"You can't always get what you want, but if you try sometimes, well you just might find, you get what you need." - Rolling Stones

What does that have to do with this week's mortgage rate report? Well, funny you should ask. I have heard from a very close friend of mine who works for Apple that many people are upset with the new release of iPods. Why? People were "wanting" a video camera in the iPod touch. Apple met the "need" for a video camera, but put it in the iPod nano.

Let's take this to mortgages now. Many people want, low rates, low prices, and the perfect home. Well, you can't always get what you want. Right now, the market is giving you at best 2 of the 3. Low rates still exist and low prices are still hanging on. But, the want to find the perfect home might just not be there. Go with what you need... a roof, walls, 2 or 3 bedroom, bathrooms, kitchen, etc. It might be the wrong shade of color. Or the kitchen might be a little outdated. Who cares!!! Get what you need before you cannot get anything at all.

So with that being said, here are the mortgage rates for today that you have been "wanting" to see:

30 Year Fixed: Interest Rate - 4.875%

APR - 4.966%

Payment - $793.81

15 Year Fixed:

Interest Rate - 4.375%

APR - 4.530%

Payment - $1,137.93

30 Year Jumbo:

Interest Rate - 5.375%

APR - 5.484%

Payment - $2,799.86

15 Year Jumbo:

Interest Rate - 4.875%

APR - 4.922%

Payment - $3,921.49

*The rates published on this page are applicable only to requests received from this site or by calling 352-308-7219. Mortgage rates published on this page are the current rates for a single-family, primary residence based on a 30-day lock period and are subject to change without notice. In order to receive a guaranteed rate, you must have applied for an application through Knightlines Mortgage Services, LLC and received a verbal confirmation from a mortgage broker that your desired rate is locked. Your guaranteed mortgage rate will depend on factors such as current market conditions, loan product, occupancy, property type and your credit profile.
Loan Product and APR Information
  • Conforming rates are for loan amounts not exceeding $417,000 ($625,500 in AK and HI)
  • Jumbo rates are for loan amounts exceeding $417,000 ($625,500 in AK and HI)
  • Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment.
  • Additional loan products, rates and lock periods are available.
Conforming Fixed, ARM APR calculation assumes a $150,000 loan amount with a 20% down payment, estimated borrower paid finance charges of .75% of the loan amount plus discount and origination if applicable. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the APR.
Jumbo Fixed APR calculation assumes a $500,000 loan amount with a 20% down payment, estimated borrower paid finance charges of .75% of the loan amount plus discount and origination if applicable. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the APR.

 

Jason Price

Owner/Principal Broker

(352) 308-7219 Phone

For some time now, Knightlines Mortgage Services has been offering the people of Florida a convenient way to finance and re-finance their residential property.

But that isn’t the entire story - we are also doing commercial lending in all 50 states.  AND - now we can offer commercial financing OUTSIDE of the country as well.  Caribbean, South America, etc - just call for the details.