Total Mortgage currently has some of the lowest current mortgage rates in Boston and all of Massachusetts. Some of the most popular mortgage products in Boston include conventional mortgages, jumbo mortgages, and FHA mortgages.
Total Mortgage is currently posting a low mortgage rate of 4.125 percent for a 30 year fixed conventional mortgage (4.323 percent APR). Other fixed conventional mortgages include 20 and 15 year mortgages, which have a 4.000 percent (4.273 percent APR) and 3.625 percent mortgage rate (3.972 percent APR) respectively.
FHA mortgages, which are popular because of their lenient lending restrictions, are growing in popularity. A 30 year fixed FHA mortgage is available in Boston with a 4.000 percent mortgage rate and a 5.178 percent APR.
For borrowers with large loans a jumbo mortgage may be necessary. A 30 year fixed jumbo mortgage is available with a 4.875 percent mortgage rate (5.098 percent APR). Jumbo adjustable rate mortgages (ARM) are also popular. A 5/1 jumbo ARM currently has a 3.625 percent mortgage rate (3.657 percent APR).
Other popular ARM’s include 5/1 conforming ARM’s. A 5/1 conforming ARM is currently available with an incredibly low mortgage rate of 2.875 percent (2.638 percent APR).
Mortgage rates are changing constantly; all rates were quoted at 2:55 p.m. on August 6, 2010.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.125% | 4.323% |
| 20 Year Fixed Conventional | 4.000% | 4.273% |
| 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 more information on all of the mortgage products available in Boston, 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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