Welcome to the website for Lance & Company at Nova Home Loans! Your free and no obligation mortgage resource serving not only Tucson, but also all of Arizona, California, Oregon, Washington, New Mexico, Texas, Colorado, Montana, and Idaho.
The relevant topics in today's residential lending world are here with information given freely. Experts in all types of mortgages including FHA, VA, Conventional, Repair & Renovation loans, Construction loans, Purchase & Refinance, we have the up to date answers for all your mortgage needs. Below is the daily Mortgage Market Commentary and Daily Interest Rates for your information. Also, look for the links to hot topics for further information!
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Our secured, short-form applications for Purchase or Refinance allows us to give you quick answers as to what rates, programs, and amounts you qualify for. At no cost and no obligation, it takes less than 5 minutes to complete, but will allow us to give you the specific answers you need to make educated decisions for you and your family!
First Time Homebuyer Tax Credit
Learn about the Federal $8000 tax credit for First Time Homebuyers
Obama's Home Affordable Refinance
All the information regarding the Home Affordable Refinance that is helping thousands of Americans keep their homes!
Mortgage Calculator
This calculator can not only calculate the mortgage payment for you, but also show how paying extra can save you thousands over the life of your loan!
Rate Options
We offer different rate and closing cost options on all our loans. Learn the difference between them to better decide what is right for you!
When To Refinance
This will give explanations as to what factors to consider when thinking about a refinance.
Rate Locks
This explains what a Rate Lock is, what it means, and why and when to do it!
If you don't see what you're looking for, simply go to Ask a Loan Professional, and ask your question for quick personal answers! Your feedback is always appreciated!
Interest Rate Trend is: Locking
As of July 2 @ 8:20 AM
The employment number is out - and it was dismal. Expectations were job losses of 365,000. The Labor Department reported losses of 467,000 jobs pushing the unemployment rate to 9.5% which is the highest since August 1983. The good news is that mortgage rates aren't nearly what they were in 1983!
Although this news is positive for our bond market, we are hitting a double layer of resistance, and with the 3 day U.S. only holiday weekend coming up, we will hold our Locking stance as we anticipate investors may not want to hold their positions over the weekend. Some may be looking at taking their profits off the table towards the end of the trading day. The last time we were at these levels was back on June 17th when the market reversed and lost 250 bp in 3 days.
This is a short week as the markets, and our office, will be closed on Friday in observance for the July 4th holiday.
Now is a phenomenal time to purchase as prices haven't been lower in years and interest rates still remain at historically low levels. Contact us today for qualification!
Current Interest Rates |
||
| Program | Rate | APR |
|
30 Year Fixed Conv |
5.125% |
5.261% |
|
15 Year Fixed Conv |
4.625% |
4.856% |
|
5/1 ARM |
4.25% |
4.303% |
|
30 YF FHA |
5.5% |
5.535% |
|
30 YF VA |
5.5% |
5.535% |
|
30 YF Jumbo |
5.75% |
5.851% |
|
15 YF Jumbo |
5.625% |
5.726% |
|
5/1 ARM Jumbo |
4.875% |
4.976% |
The above interest rates are based on rates from July 2 @ 8:27 AM and are subject to change without notice. Call us for current interest rates and programs available and restrictions and requirements for the rates listed above. All conforming rates are based on no discount points and 1% Origination Fees and $200,000 loan amounts, ficos over 740. Other rate and fee structures are available. Jumbo fixed rates are for loan amounts $417,001 - $600,000) Call for options. BK#0902429
