Current mortgage rates at Total Mortgage are at the lowest point they have been at in quite some time. Total Mortgage offers a wide variety of mortgage products all with some of the lowest mortgage rates in the industry. Borrowers who use Total Mortgage can take advantage of both fixed rate mortgages and adjustable rate mortgages (ARM).
A 30 year fixed conventional mortgage is currently available with a 4.125 percent mortgage rate and a 4.323 percent APR. A 20 year fixed conventional mortgage has a slightly lower mortgage rate of 4.000 percent and has a 4.273 percent APR. Borrowers with loans larger than the conforming limit will not be able use conventional mortgages but will require jumbo mortgages.
A 30 year fixed jumbo mortgage has a 4.875 percent mortgage rate and an APR of 5.098. A 15 year fixed jumbo mortgage is currently available with a mortgage rate of 4.000 percent and a 4.349 percent APR. Total Mortgage also offers FHA mortgages which are insured by the Federal Housing Administration. A 30 year fixed FHA mortgage has a 4.000 percent mortgage rate and a 5.178 percent APR.
Adjustable rate mortgages are also popular right now. A 5/1 conforming ARM is currently being offered with a 2.875 percent mortgage rate and a 2.638 percent APR. A 5/1 jumbo ARM has a 3.625 percent mortgage rate and a 3.657 percent APR.
These low current mortgage rates make it a great time to consider buying a home. Current homeowners should consider refinancing their existing mortgages.
Mortgage rates are changing constantly; all rates were quoted at 9:45 a.m. on August 11, 2010.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.125% | 4.323% |
| 20 Year Fixed Conventional | 4.000% | 4.273% |
| 30 Year Fixed FHA | 4.000% | 5.178% |
| 30 Year Fixed Jumbo | 4.875% | 5.098% |
| 15 Year Fixed Jumbo | 4.000% | 4.349% |
| 5/1 Conforming ARM | 2.875% | 2.638% |
| 5/1 Jumbo ARM | 3.625% | 3.657% |
For more information on current mortgage rates and all of the mortgage products available at Total Mortgage call 877-868-2503 to speak with 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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