Three different lenders I work with contacted me today about home loan rates. All three of them are able to do a 30 yr fixed rate FHA or VA loan at 3.75% (apr 3.99%). WOW! With the loan rates getting even better today, you can save an estimated $72 a month (see example below).
Saving $72 a month on your Utah home payment is great, but how does $72 a month = $25,000 in savings? Look at the total interest paid over the life of the loan as given in the example below. In addition to the lower payment, you will save thousands in total interest paid. What a great day to buy a home.
Interest Rate: 3.750% (3.99% APR)
Loan Amount: $250,000.00 ~
Term of the Loan: 30 years
Monthly mortgage payments: $1,157.79 ~
Total interest paid over the life of the loan: $166,804.04
Interest Rate: 4.25% (4.49% APR)
Loan Amount: $250,000.00 ~ Term of the Loan: 30 years
Monthly mortgage payments: $1,229.85
Total interest paid over the life of the loan: $192,745.91
Buy more home today than yesterday. Contact me today to find out more about these rates and loan programs. 801-792-5040
November Update on Utah Home Lending:
- There is money available as of November 4, 2010 for Down Payment Assistance (up to $10,000) throughout Salt Lake County.
- 100% financing programs available. NO DOWN PAYMENT!
- $100 down payment HUD homes are available throughout Utah.
- Special Loan deferral programs are available in Salt Lake County (up to $20,000!) No payment/No Interest on select homes.
- FHA rehab loans that allow you to buy a home through FHA and receive the money to rehab/repair a home at the same time.
- FHA Energy Efficient Mortgages that allow you to update windows, appliances, furnace, hot water heater, insulation when you purchase a home.
If you have a steady job and decent credit, you may be a home owner before the end of the year.