9922 Westhampton Glen Place- offered at $675,000

Elegant, immaculate but practical transitional design built with attention to detail. Details start right away with 3 sides brick arched windows, aggregate drive way and 3 car side load garage. Open Foyer with archways leading to formal living room and dining rooms will leave you breathless. Coffered ceiling in dining room, wet bar off dining room with ice maker and wine cooler, detailed mouldings throughout the house and on cabinets, wood floors on the first floor and second floor hallway. Family room opens to a magnificent gourmet kitchen with arched openings, granite, plenty of cabinet and a chef’s pantry. Stainless steel appliances, double convection ovens, and 5 burner gas cook top, touch less faucet, and recessed lighting. Separate eat-in area overlooking back yard. Entrance from garage offers custom built hanging and cabinet space above and below. First floor study and guest suite with full bath. Handsome 2rd floor owner’s suite with sitting area, two large walk in closets, award winning master bath with jetted tub, multi head shower with seat, and double raised granite vanity with custom cabinets. Large playroom on 2nd floor and added exercise room. 3rd floor is walk up with 1650 unfin SF roughed-in for separate HVAC and is easily expandable. Aggregate walkways, front porch and driveway, and Blue Stone covered back porch and patio. Warm, inviting and great entertaining home for all sizes. Move in today!

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Interest Rates flat as a pancacke this week.

Mortgage rates were flat this week with Freddie Mac’s survey showing the average 30 year fixed loan at 4.5%. Today;s Wall Street Journal reports that lenders have denied almost 20% of home-purchase loan applications year-to-date. Lending standards have tightened because government entities Fannie Mae, Freddie Mac, and the Federal Housing Administration, which collectively account for 90% of all loans being made today, are under heavy pressure to avoid losses. Would-be-borrowers that are having the hardest time qualifying are those who have seen their income fall, have had periods of job interruption or who are self-employed. Prospective buyers should get pre-approved by a local, knowledgeable lender before beginning their home search to ensure their debt-to-income ratios and credit histories meet today’s standards.

Here are our weekend rates for purchase loans on single-family homes greater than $150,000 with 20% down and 740+ credit scores :
Conf 30 year fixed to $417,000: 4.375%

Conf 30 year fixed ($417,000-$535,900):  4.375%

FHA 30 year fixed: 4.25%

FHA 5/1 ARM: 3.25%

Jumbo 30 year fixed ($528,750+):  4.875%

All rates reflect 1 origination, 0 discount points. Please note rates do vary by credit score, loan amount,  rate lock period, occupancy and loan to value.

Weekend Rates – WOW still a Great time to Buy

Rates improved slightly this week as the financial markets waited on a potential bailout of the auto industry and next week’s Fed Meeting. The Fed is widely expected to announce another rate cut as the economy continues to struggle.

Keep in mind that a Fed rate cut does not automatically mean mortgage interest rates will improve. The Federal Reserve has direct control over the level of short-term interest rates. The Fed’s influence over longer-term interest rates with rate cuts is less certain. Remember, rates are historically favorable. While there is a strong possibility rates could improve, there are no guarantees in these uncertain times. As a reminder, just a few months ago analysts overwhelmingly predicted gas prices would continue to rise. Conditions can change quickly.

Freddie Mac reported the average 30-year fixed rate fell to 5.47% from 5.53% this week, down from 6.11% a year ago.

Here are the weekend rates:

Conf 30 year fixed to $417,000: 5.0%

Conf 30 year fixed ($417,000-$535,900): 5.5%

FHA 30 year fixed: 5.5%

Jumbo 30 year fixed ($528,750+) with Wells Fargo Banking Relationship: 6.5%
All rates reflect 1 origination, 0 discount points. Please note rates do vary by credit score, loan amount, and loan to value. (Prosperity Mortgage)

Thanks,

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