Mortgage Rates Are Still Low
I hope everyone is enjoying their Presidents Day. I drove by the Kamaole Beaches earlier this morning and it looks like many of my fellow Mauians will be having fun at the beach. What does this have to do with mortgage rates? Nothing at all. But, my friend Dan over at Wells Fargo had this to say about mortgages:
“Rates are still very low! If you are going to payoff your loan in 5 years or are just comfortable with how ARM loans work, then you definitely want to look at Wells Fargo’s 5/1 LIBOR ARM. I can do it right now for 3.5 with 0 points! That rate cannot change for the first 5 years and even when it can change with a 2.25 margin on the LIBOR, it can only go up a maximum of 2% the first year and 1% every year after that and has a cap of 6% over the start rate. Pretty safe if you are going to payoff or refinance within 6 years. (That 3.5% rate is on a Single Family Residence Purchase – Owner Occupied or 2nd Home – with 20% Down)”
Dan Bardenhagen Wells Fargo Home Mortgage
Should you have any questions regarding those rates, please don’t hesitate to give Dan a call.
Dan Bardenhagen is a loan officer I’ve had the pleasure of working with in the past. His professionalism and attention to detail are just two of the characteristics that made me and my clients happy. Please feel free to shop around and compare rates with other lenders. I have their names available, just contact me.
This post was published by Ken K.K. Wong REALTOR®(S) an agent with Coldwell Banker Island Properties on February 21, 2011.