There are 55 tax breaks that are due to expire by the end of 2013. The two (seemingly) most notable for the mortgage markets are (1) the allowable deduction for mortgage insurance premiums, and (2) Exclusion for cancellation of mortgage indebtedness on a primary residence, if foreclosed or sold in a short sale. It’s possible, however, at the last moment, that Congress will extend these two deductions.
In the meantime, if you have a borrower in a potential mortgage insurance situation, you may want to suggest that your borrower consider “lender-paid mortgage insurance”, rather than the traditional “borrower-paid mortgage insurance”. If your seller is in the middle of a short-sale or foreclosure transaction, you may want to be proactive with your seller, and suggest that (s)he consult with their CPA, as well as get a little more aggressive in negotiations with the seller’s bank – in order to complete the transaction prior to the end of the year. We only have 43 remaining in 2013.
|
ANASAZI MORTGAGE RATES* FOR Primary Residence (purchase only) As of 11/18/2013 *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 |
4.50% |
4.607% |
4.875% |
4.896% |
| 15-YR |
3.625% |
3.808% |
4.375% |
4.411% |
| ADJUSTABLE RATE Mortgages to $417,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
2.75% |
5.936% |
3.25% |
6.315% |
| 7/1 ARM |
3.125% |
5.745% |
3.375% |
6.976% |
| ADJUSTABLE RATE Mortgages $417,001 – $2,500,000 | ||||
|
w/ 1 Point |
APR |
w/ no Point |
APR |
|
| 5/1 ARM |
3.125% |
6.270% |
3.625% |
6.646% |
| 10/1 ARM |
4.00% |
5.875% |
4.375% |
6.222% |
|
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