MORTGAGE CORNER

Mortgage Rates of Pagosa Springs Area Banks as of January 6, 2012

 

American AG Credit: Bob Wright provided several rates.  On larger agricultural acreages (35+), or with irrigated land or AG potential, 5 yr. fixed to variable, 30 year term is 4.10%, 10 yr. fixed to variable, 30 year term is 5.10% and 15 yr. fixed to variable, 30 year term is 5.45%.  For residential bare lots, small acreage site, 5 yr fixed to variable, 20 year term is 5.10% and 3 yr. fixed to variable, 20 year term is 4.95%.

Bank of Colorado: No information provided.

Bank of the San Juan’s:  Lori Sadira advised of a 30 year conventional loan rate of 3.875% and a 15 year conventional at 3.50%.  Jumbo loans are, for 30 year non-conforming, 5.0% and for 15 year non-conforming, 4.125%.  

Citizens Bank: No information provided.

First Southwest Bank:. Kathie Lattin has a rate of 3.875% for 30 year fixed and 3.0% for 15 year fixed for the well-qualified buyer.

Rio Grande Savings and Loan: According to Frances Martinez, on LTV of 80%, rates are 4.9% for 30 year and 4.5 % for 15 year fixed.  At a LTV of 90%, rates are 5.5% for 30 year and 5% for 15 year.  These rates are for primary residential purchase.  For non-primary, 80% LTV, rates are 6% and 5.5% for 30 and 15 year, at 85% LTV, rates are 6.25% and 5.75% for 30 and 15 year. Max loan amount: $400,000.00.  Rio Grande is also offering a re-finance for 10 year, Primary Residence, 80% LTV base rate of 4.90%.

Well's Fargo: Sarah Taylor advised that their best rate is 4.00% with no discount points for new purchases.

 - Lisa LaMastra, January 6, 2012

 

 

Keep in mind we contact all our local lenders on the first of the month for their rates. If we do not publish a particular lender's rates here, it is because that lender did not respond to our query.