Affordable 30 Year Fixed FHA Mortgage in MA

Total Mortgage is currently offering some of the most affordable mortgage rates in MA and across the nation. There are a number of different mortgage products available at Total Mortgage for borrowers in Massachusetts to meet each of their unique needs. The Mortgage Bankers Association released its weekly survey this morning stating that mortgage purchase application have gone up. This indicated that many people grabbed the opportunity to lock in the low mortgage rates before they went up. If you are one of those homeowners or homebuyers looking to purchase or refinance in Massachusetts, now is the right time to do so with rates still at some of their lowest points.

FHA mortgages have always been popular mortgage products among borrowers in MA. Unlike other standard mortgages, FHA mortgage loans are mortgages which are insured by the Federal Housing Administrator and available through FHA-approved lenders only. Luckily, Total Mortgage is an FHA-approved lender. FHA mortgage programs started in 1934 to assist people who would not be able to meet the strict requirements of conventional mortgages. Some of the advantages of FHA mortgages are their flexible requirement criteria, low down payments, comparatively low rates and fixed rates throughout the life of the loan.

Currently, at Total Mortgage a 30 year fixed FHA mortgage is available to borrowers in MA at a 4.125 percent interest rate and 5.537 APR. Other mortgages such as the 30 year fixed rate mortgages are available at a 4.000 percent rate and 4.201 percent APR, the 15 year fixed jumbo mortgage is available at a 3.500 percent mortgage rate and 3.844 percent APR and the 5/1 ARM conforming mortgage is available at a 2.500 percent rate and 3.022 percent APR.

For more information on our current mortgage rates and products please call 877-868-2503 to speak with a mortgage expert today!

Mortgage rates are always changing. All rates for MA were quoted at 10:30 A.M., on November 24, 2010.

*All rates shown are for 30 day rate locks. Longer locks available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 2 points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for jumbo loan amounts is calculated using a loan amount of $500,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. The APR for FHA loan amounts is calculated using a loan amount of $295,000, two points, a $495 application fee, $500 loan processing fee, $715 underwriting fee and a $16 flood certification fee. Some rates and fees may vary by state. All interest rates listed are for qualified applicants and are subject to mortgage approval. All rates are subject to change without notice.