Total Mortgage currently has some of the most affordable mortgage rates in Massachusetts. Regardless of whether you are buying a house in the Boston area, on Cape Cod, or anywhere else in Boston there is a mortgage product that fits your financial needs.
Adjustable rate mortgages (ARM) can be a great option if you are considering taking out a home loan. A 5/1 ARM currently has a 3.000 percent mortgage rate and a 3.481 percent APR. For borrowers with larger loans a jumbo ARM may be necessary. A 5/1 jumbo ARM has a 3.625 percent mortgage rate and a 3.657 percent APR.
One of the most popular mortgages in Massachusetts is the 30 year fixed conventional mortgage. This mortgage product has a 4.125 percent rate and a 4.323 percent APR. Other popular 30 year mortgages include 30 year FHA and 30 year fixed jumbo mortgages. A 30 year fixed FHA mortgage has a 4.000 percent mortgage rate and a 5.178 percent APR. A 30 year fixed jumbo mortgage has a 5.000 percent mortgage rate and a 5.203 percent APR.
Current mortgage rates change frequently; all rates were quoted on July 30th, 2010 at 9.00 a.m.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.125% | 4.323% |
| 30 Year Fixed FHA | 4.000% | 5.178% |
| 30 Year Fixed Jumbo | 5.000% | 5.203% |
| 5/1 Conforming ARM | 3.000% | 3.481% |
| 5/1 Jumbo ARM | 3.625% | 3.657% |
For more information on all of the mortgage products available in Massachusetts call 877-868-2503 to speak with a licensed mortgage professional today!
*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.
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Southeastern Massachusetts Insurance
August 2, 2010 @ 9:37 am
Great information. Thank you.
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