Mortgage Rates at Total Mortgage For Monday, August 30th, 2010

Total Mortgage provides mortgages for homes of all shapes and sizes.

It’s Monday, back to work.  Before you settle in for the day, check out the all-time-low mortgage rates at Total Mortgage. Market conditions continue to push mortgages rates down; according to Freddie Mac, the average mortgage rate on a 30 year fixed rate mortgage is now at 4.36 percent. Average mortgage rates have not been this low since the 1950s, and our rates consistently beat the national average.

Total Mortgage uses in house underwriting and processing in order to offer some of the lowest mortgage rates in the industry. 30 year fixed rate mortgages are available to qualified buyers at 4.125 percent and a 4.323 percent APR. For those who are looking to pay off their house more quickly, 15 year fixed rate mortgages can be had at 3.625 percent with an APR of 3.972 percent.

Total Mortgage is a government-approved Full Eagle FHA lender. We are experts at doing FHA mortgages, and can help you secure a good rate.  If you have credit but not a lot of money for a down payment, or are a first time home buyer, an FHA mortgage may be the ideal product for you. The rate on a 30 year fixed FHA mortgage is 4.000 percent with a 4.349 percent APR.

If you are purchasing a home that is priced higher than the Fannie Mae conforming limit ($417,000 to $729,750 depending upon your locality), you will need to get a jumbo mortgage.  For the last couple of years, jumbo mortgages have been difficult to get and came with high rates.  Now that rates have come down, a 30 year fixed jumbo mortgage is available at Total Mortgage with a mortgage rate of 4.875 percent and an APR of 5.098 percent.

In addition to fixed rate mortgages, Total Mortgage also offers many adjustable rate mortgages (ARM). Some of the most popular ARM’s are 5/1 conforming and 5/1 jumbo ARMs. 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 slightly higher mortgage rate of 3.625 percent and a 3.657 percent APR.

Mortgage rates change daily and often multiple times throughout the day. All mortgage rates were quoted at 9:10 a.m. on August 30, 2010.

For a complete list of Total Mortgage’s current mortgage rates and mortgages products call 877-868-2503 immediately, to speak with a licensed mortgage professional.

*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.