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St. Louis Real Estate Search

 

New Limits for First Time Home Buyers Down-payment Assistance Program; St. Louis Interest Rates Update

First-time home buyers receive a forgivable 3% cash assistance loan for down payment and closing costs.

Missouri Housing Development Commission (MHDC) provides a competitive interest rate on a safe 30-year fixed rate 1st mortgage. Your 3% advance loan is treated as a 2nd mortgage completely forgivable after five years of continuous occupancy. New, Constant Funding means MHDC will have the monies available for the borrowers regardless of bond issuance.  For further information go to  http://www.box.net/shared/v0piidunf7 or   www.mhdc.com.

St. Louis MORTGAGE INTEREST RATES for June 8, 2011:

  • Conventional 30-Year Fixed 4.625%/ 5.000% APR
  • Conventional 15-Year Fixed 4.00%/ 4.10% APR
  • Conventional 5/1 ARM 3.500%/ 3.277% APR
  • FHA/VA 30 Year Fixed 4.500%/ 5.00% APR
  • Jumbo 5/1 ARM 3.250%/ 3.123% APR
  • Jumbo 15 yr Fixed 3.750%/ 4.125% APR
  • Jumbo 30 yr Fixed 5.125%/ 5.425% APR

*The above mortgage rates are based upon an 80% LTV, o/o single family with FICO scores of 720.

Paramount Mortgage is a locally owned Mortgage Banker; we just celebrated our 40th anniversary. Great rates and programs are secondary to what is most desired in a lender relationship. The most sought-after aspects in this industry cannot be easily translated onto paper…learn more about us here.

For more information or if you have questions on mortgage rates you may contact me by phone at my direct line, (314) 372-4319, email at rfishel@paramountmortgage.com or you can visit our company website at http://www.paramountmortgage.com.

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