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I received the following rate sheet from my local Santa Barbara real estate lender at Wells Fargo Bank.  The rates are again at historic lows. This is the time to make a real estate purchase. It is such a great opportunity with all time low rates and 2003 real estate prices! Jump in to the Santa Barbara real estate  market now!

 

Check out the Jumbo 5/1 at 3.375% No Points!!!! And the 7/1 at 3.375% no points, the 10/1 at 4.25% no points!!!!!

 Conforming loans (loan amounts under $ 417k:

• 5/1 year ARM: 2.75% with 1 point, 3.125% with 0 points
• 7/1 year ARM: 3.125%  1  point,  3.375% with 0 points
• 10/1 year ARM: 3.625%  1  point, 3.875% with 0 points
• 15 year Fixed: 3.625% with 1 points,  3.75% 0 points
• 30 year Fixed: 4.500 % with.75 point, 4.625% with 0 points

Expanded Conforming (loan amounts between $417k-$729k:

• 5/1 year ARM 2.875% with 1 point, 3.25% with 0 points
• 7/1 year ARM: 3.325% with 1 point, 3.625% with 0 points
• 10/1 year ARM: 3.875% with 1 point, 4.125% with 0 points
• 15 year Fixed  3.75% with 0 points
• 30 year Fixed: 4.375% with 1 point, 4.625% with 0 points

 Pricing below is up to  $3,000,000, ( call for pricing and loan to values over 3 million)

On primary SFR we can offer 80% up to $2,000,000 and 75% up to 3,000,000

 Loan amounts above $729k up to $3,000,000: 

 5/1 ARM:        3.375%  No points,     3.00%    1 point

7/1 ARM :       3.75%  No points,       3.375%   1 point

10/1 ARM:      4.25% No points         3.875%   1 point

15 year fixed:  4.25%  No Points      4.00%    1 point

30 year fixed :  5.00% No Points,       4.75%   1 point 

 Private Bank Portfolio Loans from $417,000 up to $5,000,000 and higher!

 3/1 ARM 3.50% No Points

5/1 ARM 3.50% No Points

7/1 ARM 3.75% No Points

10/1 ARM 4.125% No Points

 The Jumbo 5 /1 ARM,7/1 ARM and 30 year Fixed have interest only payment options. There are minimum fico score and maximum LTV requirements for all rates listed above. Wells Fargo has a float down policy , so even if you lock in a rate today, you have the ability to float down to a lower rate within the lock period. Also bear in mind that the rates listed above are for purchase transactions.

The jumbo Loans only and require just a checking account at Wells or Wachovia, with auto pay.

Call me today if you would like to talk about opportunities in the market or best buys. 805.570.5545

‘Maureen

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