Rates are down | June 30 2009
Conforming Loans (up to $417,000)
30yr Fixed 5.375% 0 points 5.00% 1 point
15 Yr Fixed Rate 4.875% 0 points 4.50% 1 point
For Condos with less than 25% down payment (or equity if a refi):
30yr Fixed Rate 5.50% 0 points 5.25% 1 point
***We do warrantable and non-warrantable condos***
Long Term Rate Locks Available
Lock your rate for up to 12 months while your new home is being built
FHA primary residence only, 3.5% down payment 30yr fixed
5.25% 0 points 5.00% 1 point
**County Limits for FHA have been raised again**
$375,000 in Sussex County $376,250 in Kent County
Jumbo (loans over $417,000) (3% Seller contribution allowed; 20% down)
30 Yr Fixed 6.625% 0 points 6.00% 1 point
Lot Loans 10% down payment up to $500,000; Payment based on a 20yr fixed
3yr ARM 6.00% w/ 1 point
5yr ARM 6.25% w/ 1 point
no time restrictions to build; fully amortize in 20yrs; loan amounts under $250,000 = 1.5 points
(seller is allowed to pay points)
Manufactured Homes
Must be on it’s own land, double-wide, built after 1978
10yr ARM (rate is fixed for 10 yrs) 5.625% 1.5 Points
25yr fixed rate 6.375% 1.5 points
*** If it is a PRIMARY RESIDENCE: FHA 5.75% 0 points***
USDA Loans NO MONEY DOWN! NO Monthly PMI!
-30yr fixed rate; Must be primary residence
-Single family, condo, new manufactured homes are allowed
-Income limits and debt-to-income ratio limits apply
-Seller may pay closing costs -No money down
5.50% 0 points 5.25% 1 point
Lock your loan with Tidewater Mortgage and receive up to $2000 to apply toward your
settlement costs or rate buy-down! Co-broke transactions included! Call for details; some
restrictions apply.
Rates and programs are subject to change without notice; Based on 06/29/2009 rates
Rates may vary for different property types, lock terms, or credit scores
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