Probably the most commonly asked question is "What is the interest rate for buying a home?"
Simple question....Complicated Answer!
The rates listed below are from my preferred lender and are based on a loan amount of $100,000 with a 45 day lock (good for 45 days). These rates are on purchases only and assume escrows. E-Mail Dave Usiak for Refinancing Rates.
These rates are reserved for borrower's that meet certain criteria. Loans are subject to qualification, credit review and approval, receipt of satisfactory appraisal and verification of income, assets and debt information provided by the customer.
In other Words: Not all borrowers will receive these rates!!!
Also: Rates are subject to change without notice!!!
With all that in mind here are the rates on December 16, 2011:
30 YEAR FIXED................................3.875%
15 YEAR FIXED................................3.375%
3/1 ARM............................................3.375%
5/1 ARM............................................3.125%
7/1 ARM............................................3.375%
FHA 30 YEAR FIXED........................3.750%
VA 30 YEAR FIXED...........................3.750%
USDA 30 YEAR FIXED......................3.750%
Please feel free to e-mail Dave Usiak at Mortgage Services III
for the most current interest rates or any questions that you may have
If there is any home for sale that you would like a closer look at please e-mail me at memerson@cbhoa.com
Milt Emerson, Realtor
Coldwell Banker Heart of America Realtors
802 S Eldorado,
Bloomington, Il
309-838-1810
Sept 15: According to the Bloomington-Normal Association of Realtors Jan-June 2010 home sales were significantly up over the same time period in 2009. 144 new construction homes were sold in 2010 compared to 107 in the previous year. Also 988 resales were sold in 2010 compared to 649 in the first 6 months of 2009. If you are a seller, please don't open that bottle of champaign quite yet though. A lot of the extra volume was driven by the first time homebuyer incentives that ended in April of this year. July figures will probably not be quite so pretty. Also, there is a 9 month surplus of homes on the market that makes it still very much a buyer's market.Some good news....USDA RURAL DEVELOPMENT LOANS ARE FUNDED AGAIN! Very good news because these are 100% loans with no PMI. As a rule of thumb, these are good anywhere outside the larger metropolitan areas. Once outside of B/N City limits you should be ok but there are exceptions....Please contact Dave to find out for sure.
