Coming out of the weekend, Total Mortgage is posting near record low mortgage rates. These low rates make it a great time to consider refinancing your existing mortgage. Borrowers stand to save a significant amount of money by refinancing. Current mortgage rates available at Total Mortgage also make buying a home an easier process.
A 30 year fixed conventional mortgage is currently being offered at Total Mortgage with a 4.125 percent mortgage rate and a 4.323 percent APR. A 30 year fixed FHA mortgage is available with a mortgage rate of 4.000 percent and a 5.178 percent APR.
Jumbo mortgages, designed for loans that exceed the conforming limit, are available with extremely affordable rates. For the first time in quite some time at Total Mortgage a 30 year fixed jumbo mortgage is available with a mortgage rate below 5 percent. The current mortgage rate for this product is 4.875 percent and has a 5.098 percent APR. A 15 year fixed jumbo mortgage has a 4.000 percent mortgage rate and a 4.349 percent APR.
Adjustable rate mortgages (ARM) are very popular at Total Mortgage because they offer an incredibly low initial interest rate. A 5/1 conforming ARM is available 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.
Mortgage rates are constantly changing; all rates were quoted at 9:35 a.m. on August 9, 2010.
| 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 | 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 all of the mortgage products and mortgage rates 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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