Coming into Friday, Total Mortgage is posting some of the most affordable mortgage rates in the mortgage industry. With a variety of mortgage products including both fixed rate mortgages and adjustable rate mortgages (ARM), Total Mortgage will build a product that suites your financial needs.
The current mortgage rate for a 5/1 conforming ARM is 2.875 percent and has 2.638 percent APR. A 5/1 jumbo ARM, meant for mortgages with principals larger than the conforming limit, has a 3.625 percent mortgage rate and a 3.657 percent APR.
Fixed rate mortgages are very popular right now, as borrowers want to lock into the historic low mortgage rates currently available. A 30 year fixed conventional mortgage has a 4.125 percent mortgage rate and a 4.323 percent APR. A 15 year fixed conventional mortgage has a 3.625 percent mortgage rate and a 3.972 percent APR.
A 30 year fixed FHA mortgage, which is insured by the Federal Housing Administration, has a 4.000 percent mortgage rate and an APR of 5.178 percent. A 30 year fixed jumbo mortgage is being offered with a mortgage rate of 4.875 percent and a 5.098 percent APR.
Mortgage rates are changing constantly; all rates were quoted at 1:30 p.m. on August 13, 2010.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.125% | 4.323% |
| 15 Year Fixed Conventional | 3.625% | 3.972% |
| 30 Year Fixed FHA | 4.000% | 5.178% |
| 30 Year Fixed Jumbo | 4.875% | 5.098% |
| 5/1 Conforming ARM | 2.875% | 2.638% |
| 5/1 Jumbo ARM | 3.625% | 3.657% |
For a complete list of the mortgage rates and 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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