I am happy to announce a new weekly edition to the blog. Sidney Stonecypher with the People’s Bank Home Loan Center in Bellingham will compile a sample of the weekly rates, along with notes and advice for those of you looking to purchase or refinance. Look for the new rates to be posted to the blog every Monday afternoon.

Conforming Home Loan Interest Rates Week of April 14
(Whatcom County limit $417,000)

30-Year Fixed – Loan Amount $250,000
Payment: 1459.00 Points: 1.5 %Down 20 Rate: 5.75 APR: 5.935

15-Year Fixed – Loan Amount $250,000
Payment: 2026.00 Points: 1.625 %Down 20 Rate: 5.375 APR: 5.683

These rates are available 4/14/2008 for qualifying Fannie Mae
or Freddie Mac approval on home purchases

30-Year Fixed Jumbo – Loan Amount $800,000
Payment: 5255 Points: 1 %Down 20 Rate: 6.875 APR: 7.45
Cash out up to 80% Full Documentation Only (90% available)

FHA/VA 250,000.00
Payment:1425 Points: 1.25 %down: 3 Rate : 5.5 APR: 6.133

FHA is a great loan to use right now with all the changes Fannie and Freddie has implemented, even with a credit score of 580. Loan limits for Whatcom County are 375,000. FHA also allows a low down payment of 3% all of which can be gifted and the seller is allowed to pay closing costs.
Sidney Stonecypher- Peoples Bank Home Loan Center
For more information feel free to contact Sidney at her office at (360) 676-5880