CT Jumbo ARM Mortgage Rates

CT Jumbo ARM Mortgage Rates have ticked down a bit as of late for all Counties of Connecticut, givinhope that much needed liquidity is being added to the secondary market. This is great news for Connecticut borrowers, as we have loan programs available in all Counties of Connecticut. At First Interstate Financial Cop., we have successfully added several investors that offer excellent CT Jumbo ARM Mortgage Rates. As of the close of business on 9/04/2009, the following fully amortized and interest-only CT Jumbo ARM Mortgage Rates were available*:

10/1 ARM 5.25%** 5.11% APR

7/1 ARM 4.5% 4.31% APR

7/1 I/O ARM 4.625% 4.49% APR

5/1 ARM 4.125% 3.87% APR

5/1 I/O ARM 4.25% 4.15%APR

With Fairfield County the only Connecticut County that has a loan limit significantly above the Fannie Mae standard loan limit of 417k, this is a great program for borrowers in Hartford, Litchfield, New Haven, Middlesex, New London, Tolland, and Wyndham Counties as well as for borrowers in Fairfield County looking for lower CT Jumbo ARM Mortgage Rates.

These CT Jumbo ARM Mortgage Rates assume an owner-occupied property and are subject to qualification. There are various loan-to-value qualifications, asset requirements, income requirements, and credit requirements as well. Since we at First Interstate Financial Corp. are fortunate to offer 4 different programs that have CT Jumbo ARM Mortgage Rates, you may qualify for a different program. There are programs available for second home financing, cash-out refinances, construction loan take-outs, purchase money financing, and even a stated income program. We can offer loans for amounts up to 3 Million or higher, depending on your scenario. One such program we offer allows for an 80% Loan to Value on financing (purchase, refinance, cash-out) up to 1 Million dollars.

Some prudent consumers see the benefit in utilizing an interest-only ARM option to make prepayments on their mortgage balance. Interest-only options are available as well in all areas, and the interest-only portion of the loan is for 120 months.

It is important when considering CT Jumbo ARM Mortgage Rates that one carefully reviews their own financial situation and future plans. Our current financial crisis has proven a short-term ARM loan is not always a great fit for the consumer, and a reputable mortgage professional should always take into consideration a homeowner's goals for considering an adjustable rate mortgage loan. Additionally, consumers should review the margin, index, and caps of any proposed adjustable rate mortgage loan they are considering. I wrote this article primarily for those currently with ARM loans, but it explains the basics of adjustable rate mortgage financing.

CT Jumbo ARM Mortgage Rates are not for everyone. But for those with specific goals and those aware of the inherent risks, this program can be utilized as a great tool for saving money and for creating a sound financial plan.

Michael Byrne

First Interstate Financial Corp.

908-531-6170

•· Not a commitment to lend. Rates subject to change without notice, and assume an LTV under 60% and loan amount under 850k. Other programs available. Equal Housing Lender. Licensed in CA,CO,CT,DE,FL,GA,MA,MI,MO,MT, NJ, NY,PA,TX,SC,VA

•·         ** Add 1/8% in Middlesex, New London, Tolland, and Wyndham Counties.

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