📊 Market Report Comparison: 1/21/2025 vs. 1/27/2025 📈

🔑 Speak Straight Mortgage – Matthew Wentz
📋 NMLS #1852397

💡 Reminder: All programs (except CHFA Down Payment Assistance) come with 0 lender fees!

🏡 Purchase Loans

FHA $400,000 purchase price, 3.5% down, 660+ credit score:
📉 Rate: Decreased from 6.25% → 6.13%
📈 Points: Increased from 0.50 → 0.60
📉 APR: Decreased from 7.00% → 6.88%
📉 P&I Payment: Decreased from $2,579 → $2,547

VA $400,000 purchase price, 0% down (first use), 660+ credit score:
📉 Rate: Decreased from 6.25% → 6.13%
📈 Points: Increased from 0.70 → 0.80
📉 APR: Decreased from 6.55% → 6.43%
📉 P&I Payment: Decreased from $2,516 → $2,483

Conventional $400,000 purchase price, 25% down, 780+ credit score:
✅ Rate: 6.88% (unchanged)
📉 Points: Decreased from 0.59 → 0.42
📉 APR: Decreased from 6.96% → 6.94%
💸 P&I Payment: Remains $1,971

💰 Refinance Loans

FHA Streamline $400,000 base loan amount, 660+ credit score:
✅ Rate: 5.88% (unchanged)
📉 Points: Decreased from 1.40 → 1.14
📉 APR: Decreased from 6.78% → 6.75%
💸 P&I Payment: Remains $2,591

VA IRRL $400,000 base loan amount, 660+ credit score:
📉 Rate: Decreased from 6.25% → 5.63%
📈 Points: Increased from 0.00 → 1.70
📉 APR: Decreased from 6.32% → 5.85%
📉 P&I Payment: Decreased from $2,463 → $2,303

Conventional Refi $400,000 loan amount, 80% LTV, 780+ credit score:
📉 Rate: Decreased from 6.88% → 6.50%
📈 Points: Increased from 0.40 → 1.20
📉 APR: Decreased from 6.94% → 6.64%
📉 P&I Payment: Decreased from $2,628 → $2,528

💸 CHFA Down Payment Assistance

Smart Step 4% Silent Second FHA:
📉 Rate: Decreased from 7.125% → 7.00%
📉 APR: Decreased from 7.29% → 7.92%

Smart Step 3% Grant FHA:
📉 Rate: Decreased from 7.625% → 7.50%
✅ APR: 8.42% (unchanged)
💸 P&I Payment: Remains $2,923

First Step / First Generation FHA:
📉 Rate: Decreased from 6.875% → 6.75%
📉 APR: Decreased from 7.78% → 7.65%
📉 P&I Payment: Decreased from $2,857 → $2,823

3.5% Grant:
✅ Rate: 7.25% (unchanged)
✅ APR: 8.24% (unchanged)
💸 P&I Payment: Remains $2,856

📝 Summary:
✅ Purchase Loans: FHA and VA rates decreased slightly, improving affordability despite minor increases in points. Conventional points dropped slightly, resulting in lower APR.
✅ Refinance Loans: VA IRRL rates dropped significantly, though points increased. FHA and Conventional refinances saw improvements in affordability with lower APRs.
📈 CHFA Down Payment Assistance: Smart Step programs saw slightly reduced rates, though Smart Step 4% APR and payments.

📩 Questions? Reach out anytime for personalized advice!