Weekly Mortgage Rates From First Bank

Dated: May 17 2022

Views: 3



05/13/2022

The Bond Market continues to not been kind to 30 year Fixed Mortgages. A Portfolio Arm with First Bank may be a better solution for those Credit Worthy clients to save money for the next 5 to 10 years.

First Bank Portfolio Conforming ARM's

Term

Specialty Feature

Interest Rate

Est. APR*

Min. Down Payment

5/6 Conv Arm


4.00%

4.054%

20%

7/6 Conv Arm


4.125%

4.180%

20%

10/6 Conv Arm


4.25%

4.306%

20%



I will be available for pre-approvals

(I work realtor hours)

Conventional Rates.JPG

Term

Specialty Feature

Interest Rate

Est. APR*

Min. Down Payment

30 Year Fixed

Home Ready

5.375%

5.811%

3%

30 Year Fixed

Home Ready

5.375%

5.722%

5%

30 Year Fixed

First Time Buyer

5.5%

6.233%

3%

30 Year Fixed


5.375%

5.676%

5%

15 Year Fixed


4.75%

5.053%

5%

30 Year Fixed


5.375%

5.445%

20%


15 Year Fixed


4.75%

4.738%

20%

I will be available this weekend for pre-approval requests.

 

Think about this - Why should I work with First Bank Mortgage??

·    First Bank underwrites directly to the agency guidelines, not investors.

·    First Bank retains the servicing rights to more than 95% of the loans we originate.

·    With FHA and VA home loans, there are no pricing adjustments for credit scores.

 


 

Minimum Credit Score of 620 for all products, except Port. Jumbo Arms.

Government Rates Header.JPG

Program

Funding Fee Status

Interest Rate

Est. APR*

Annual Percentage Rate.

Min. Down Payment.

30 Year Fixed FHA


4.75%

5.7496%

3.5%

30 Year Fixed FHA


4.75%

5.687%

5% or more

30 Year Fixed VA

Exempt

4.75%

4.783%

0%

30 Year Fixed VA

First Time Use

4.75%

4.982%

0%

30 Year Fixed VA

Sub Sequent Use

4.75%

5.094%

0%

The Professionals Loan

  • 0% Down Payment Required up to $400,000

  • 5% Down Payment Required from $400,001 to $750,000

  • 10% Down Payment Required on Loans from $750,000 to $1,500,000

  • Mortgage Insurance is not required on these Loans.

Program

Terms

Interest Rate

APR

Min. Down Payment

5/6 - ARM

Fixed Rate for the first 5 years, then adjusts every 6 months.

4.50%

4.524%

5%

7/6 - ARM

Fixed Rate for the first 7years, then adjusts every 6 months.

4.625%

4.650%

5%

10/6 - ARM

Fixed Rate for the first 10 years, then adjusts every 6 months.

4.75%

4.775%

5%

15/6 - ARM

Fixed Rate for the first 15 years, then adjusts every 6 months.

5.125%

5.184%

5%

15 Year Fixed


4.75%

4.812%

5%

Jumbo Header.JPG

Loan Amounts between $647,201 to $2,500,000

Program

Terms

Interest Rate

APR

Min. Down Payment

5/6 - Port Jumbo Arm

Fixed Rate for the first 5 years, then adjusts every 6 months.

4.00%

4.022%

20%

7/6 - Port Jumbo Arm

Fixed Rate for the first 7 years, then adjusts every 6 months.

4.125%

4.147%

20%

10/6 - Port Jumbo Arm

Fixed Rate for the first 10 years, then adjusts every 6 months.

4.25%

4.272%

20%

7/6 - Port Jumbo Arm -Interest Only

Fixed Rate for the first 7 years, then adjusts every 6 months. Interest Only Payments for 10 years

4.50%

4.526%

30%

30 Year Fixed


4.50%

4.525%

20%

15 Year Fixed


4.25%

4.290%

20%

First Bank has a new 7/6 Arm

Interest Only Payment for 10 years.

Available for Jumbo Loan Amounts.

For those clients that need additional help with Down Payment Assistance, First Bank Mortgage does offer some additional programs:

  • In Missouri - MHDC that offers up to 4% of the Loan Amount for Assistance.

  • In Kansas - KHAP that offers up to 5% of the Loan Amount for Assistance.

7/6 Arm and 10/6 Arm -

Second Home Condo Purchase

Loan Amounts $100,000 to $1,000,000.

Program

Terms

Interest Rate

APR

Min. Down Payment

7/6 - ARM

Fixed Rate for the first 7 years, then adjusts every 6 months.

4.875%

4.933%

25%

10/6 - ARM

Fixed Rate for the first 10 years, then adjusts every 6 months.

5.00%

5.058%

25%

7/6 - ARM

Fixed Rate for the first 7 years, then adjusts every 6 months.

5.125%

5.171%

20%

10/6 - ARM

Fixed Rate for the first 7 years, then adjusts every 6 months.

5.25%

5.296%

20%

Your referrals are a reflection of your service. By allowing someone to go to voicemail, is that the customer service you want to provide?

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