Bellingham WA Home Loan Rates and Tips
Expectations of higher interest rates were not realized this week, as some rates softened a bit from 2 weeks ago. The rate for a conventional, 30 year fixed rate loan dropped to 4.875% and the jumbo 30 year fixed rate was down to 5.5%. The rest held steady
A financing tip from Sidney:
If you are planning to take advantage of either home buyer tax credit ($8,000 for a first time buyer or $6,500 for a repeat buyer), remember that you must have a signed contract in place no later than April 30, and the transaction must close no later than June 30.
Home loan rates as of Wednesday, April 21 are in the following table. For more details, or a custom quote, contact SidneyStonecypher at People’s Bank, 360-676-4597 or sidney.stonecypher@peoplesbank-wa.com. Remember that many variables come into play in determining the rate a lender will give a borrower. If you are getting a rate quote from a lender who does not have all your information, that rate may not be real. What with the low rates and the tax credits, it is a great time to buy a house!
| Down Payment | Interest Rate | APR | Credit Score | Points | |
|
Conventional 30 yr fixed |
20% |
4.875% |
5.130% |
740 |
1 |
|
Conventional 15 yr fixed |
20% |
4.250% |
4.469% |
740 |
1 |
|
Jumbo 30 yr fixed |
20% |
5.50% |
5.747% |
740 |
1 |
|
FHA 30 yr fixed |
3.50% |
4.750% |
5.172% |
580* |
1 |
|
VA 30 yr fixed |
0% |
4.750% |
5.148% |
* |
1 |
|
*Score requirement will vary by lender |
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If you have other questions about financing, don’t hesitate to contact us and we will get you the answer. If you are wondering, other people probably are as well. For general financing and market information, check out our website.
For more information on Bellingham Real Estate or to search for homes in the Bellingham and Whatcom County area visit www.JohnsonTeamRealEstate.com, your one stop Bellingham real estate and community information resource!
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I was a couple of months early for the first time home buyer tax credit. I purchase my first house and the credit was not in place yet. Although it would have helped out with many different things on the house, I did receive an unbelievable deal on my house. Congratulations to everyone who was able to utilize the tax credit, I’m sure it really helped out.