Topic of the day is whether or not the Congressional stand-off will result in a government shutdown – for a few days or a few weeks. Not a big deal, you think (“they always work it out”), but depending IF IT HAPPENS, and how long it lasts may affect your upcoming closings directly. Many lenders will wait until a day or two prior to closing to order borrowers’ IRS transcripts. Those transcripts, if not already received by the lender, could delay your closing (and potentially affect your borrower’s lock – another WHOLE problem). Lenders WILL RARELY CLOSE on a loan without receipt of transcripts.
So, for those of you who have a lender-involved transaction, check with your lender or broker to see if the borrowers’ transcripts are in the file, and keep your sellers (as well as your buyers) informed – because this could affect ANY CLOSING from tomorrow forward, and create a negative domino effect on other buyer or seller-contemplated transactions. (4506 transcript receipt is just one of those last-minute lender processes that few people take into account when anticipating closing.)
|
ANASAZI MORTGAGE RATES* FOR Primary Residence (purchase only) As of 09/30/2013 *Programs require borrowers meet specific qualifications, not limited to credit scores, income, debt ratios, and other lender guidelines |
||||
| FIXED RATE Mortgages to $417,000 (Conforming) | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
4.00% |
4.124% |
4.25% |
4.290% |
| 15-YR |
3.125% |
3.340% |
3.375% |
3.444% |
| FIXED RATE Mortgages $417,001 – $2,500,000 (Jumbo) | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 30-YR |
4.625% |
4.733% |
5.125% |
5.146% |
| 15-YR |
3.875% |
4.059% |
4.50% |
4.536% |
| ADJUSTABLE RATE Mortgages to $417,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
NQ |
— |
3.00% |
6.084% |
| 7/1 ARM |
3.25% |
5.861% |
3.50% |
6.092% |
| ADJUSTABLE RATE Mortgages $417,001 – $2,500,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
3.125% |
6.270% |
NQ |
— |
| 10/1 ARM |
4.125% |
5.991% |
4.50% |
6.337% |
| Mortgages up to $2,500,000, other ARM Products & Interest Only programs are also available – Please call for Quotes. | ||||
Ginger Bowe Sullivan
ANASAZI MORTGAGE
1000 Cordova Pl, #56
Santa Fe, NM 87505
Phone: 505-995-8888
Toll-Free: 800-995-8888 (if calling outside Santa Fe)
Fax: 505-995-8885