New York Jumbo Mortgage Rates

New York Jumbo Mortgage Rates: Our true jumbo mortgage rates continue to trend downward this week in all counties of New York. Despite the 2009 conforming loan limit remaining at $417,000 to $729,000 in New York, we still are able to offer affordable financing to qualified borrowers for purchases as well as refinances for jumbo loans over the current conforming loan limit in your particular county. My company, First Interstate Financial Corp., currently has established broker relationships with several investors that allow us to offer excellent New York Jumbo Mortgage Rates.

Currently we have the following New York Jumbo Mortgage Rates with 0 points as of business close on 9/21/2009*:

30 Year Fixed 5.75% 5.81% APR (Fixed Program available in Columbia, Dutchess, Nassau, Orange, Putnam, Richmond, Rockland, Suffolk, and Westchester Counties only)

7/1 ARM 4.5% 4.55% APR

5/1 ARM 4.125% 4.18% APR

*Please call for specific quotes*, due to market fluctuation and guidelines and county product availability your New York Jumbo Mortgage Rates can vary depending on your particular scenario. The main take-away is that there are jumbo loan programs available to fit your needs, even in our current lending environment.

Our New York Jumbo Mortgage Rates can vary from the low 4% range to low 6% range, depending on whether you are looking for a higher loan-to-value or a fixed rate or adjustable rate loan.

Typical minimum FICO scores for New York Jumbo Mortgage Rates range from 680 to 720, depending on the loan program and scenario. FICO scores are considered to be more a general indicator for this program, and the overall credit picture is reviewed more so than simply a number. Loans are for Full Doc loans only, and are subject to verification of post closing assets and full underwriting by our investor(s).

Currently with loan to values of up to 80% on purchase money/rate term/cash-out refinances to $800,000, up to 75% on purchase money/rate term/cash-out refinances up to $1,500,000, and up to 70% Financing to $2,000,000. There are also great programs for second home financing. Loan-to-values depend on the specific program you are qualified for and rates can vary above a 65% Loan to value.

We also offer competitive pricing on FHA, VA and Conventional Loans in NY, as well USDA loans in qualified RD areas. Stated Income programs are also slowly making a comeback as well.

* Not a commitment to lend. Other programs available. Jumbo Loans are a brokered product. Equal Housing Lender. Licensed in CA,CO,CT,DE,FL,GA,MA,MI,MO,MT, NJ, NY,PA,TX,SC,VA. Check for availability within your market area, as some products are restricted in the 5 Boroughs and Upstate NY.

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