The Conventional mortgage industry continues to tighten its underwriting & guidelines belt and credit scoring. 100% Conventional financing is going away and there will be a down payment required for purchases & equity in your property for refinancing. A 680 minimum FICO score will be required in order for you to qualify for the best rates. Scores from 620-679 will be assessed a pricing adjustment so you will have to pay more money to get the same rate.

Saving for a down payment will become fashionable again just as our parents had to do many years ago. Having said all this, rates are excellent as of this writing.

30 yr fixed– Purchase or refinance, 5.625%, 30 day lock, 5% down, full document, owner occupied, APR 5.783%

15 yr fixed– Purchase or refinance, 5.125%, 30 day lock, 5% down, full document, owner occupied, APR 5.397%

30 yr Jumbo– 6.875%, 30 day lock, 5% down, full document, owner occupied, APR 7.020%

15 yr Jumbo– 6.500%, 30 day lock, 5% down, full document, owner occupied, APR 6.770%

 *Rates are subject to change daily. Borrower must meet all lending requirements. Call for your up to the minute Mortgage Analysis today or apply online at my secure, confidential Mortgage website:  www.LoansByJJ.com . Equal Housing Lender. Member NAMB, TAMB, Lic #9355

105 Galleria Fair, San Antonio, Texas 78232