These rates are typical for the PURCHASE SFR borrower with excellent credit and a sizable down payment, exclusive of FHA for the down payment.
Take a look at FHA 5/1 ARM rates below, as those rates are at 3.375% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers. I do not recall ever seeing FHA ARM rates that low.
Conventional Loans:
30 Year Fixed Conforming---$417,000 and Below: 4.875% with 1 Point
30 Year Fixed High Balance Conforming---$417,001 to $729,750: 5.0% with 1 Point
30 Year Fixed Jumbo---$729,751 to $1,000,000: 5.5% with 1 Point
5/1 ARM Jumbo---4.75% with 1 Point-amazing for Jumbo product
FHA Loans:
FHA 30 Year Fixed---$417,000 and Below: 4.875% with 1 Point
FHA 5/1 ARM---$417,000 and Below: 3.375% with 1 Point
FHA 30 Year Fixed High Balance---$417,001 to $729,750: 5.0% with 1 Point
FHA 5/1 ARM High Balance---$417,001 to $729,750: 3.375% with 1 Point
