Successful homeownership is the result of a well informed buyer; St Louis Mortgage rate update

ARE YOU PRE-QUALIFIED?  Have you given much thought to how much of a mortgage payment would be for your dream home?

Should you talk to you mortgage professional before house hunting?

Absolutely!  Even if you haven’t so much as selected a Realtor®, it’s important to talk with your mortgage professional first.   Why?

Given your unique credit and employment history, income and debt, and goals your mortgage banker will help you determine how much of a mortgage payment you can afford, how much you qualify for and determine if there are any obstacles that would prevent the potential borrower from completing a purchase.

The key question, especially for the first time homebuyer is “how much of a monthly payment can you afford and how much off a mortgage payment do you want to afford?”

Determine your budget.  In other words, understand your monthly budget and know what payment range you are comfortable with.  In many cases, your mortgage professional will bring reality to the table. Successful homeownership is a result of a well informed buyer.

Mortgage Qualifier

This calculator  steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the “View Report” button to see a complete amortization schedule of your mortgage payments

St. Louis MORTGAGE INTEREST RATES for August 8, 2012:

  • ·      Conventional 30-Year Fixed 3.375%/ 3.428% APR
  • ·      Conventional 15-Year Fixed 2.75%/ 2.844% APR
  • ·      Conventional 5/1 ARM 2.500%/ 3.329% APR
  • ·      FHA/VA 30 Year Fixed 3.250%/ 3.332% APR
  • ·      Jumbo 5/1 ARM 2.750%/ 2.427% APR
  • ·      Jumbo 15 yr Fixed 3.375%/ 3.630% APR
  • ·      Jumbo 30 yr Fixed 4.750%/ 5.010% 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 celebrating our 41st year. Great rates and programs are secondary to what is most desired in a lender relationship: Integrity, Communication and Customer Satisfaction. Be to check out our website:

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 or you can visit our company website at


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