Total Mortgage offers some of the best mortgage rates in the country and if you’ve been considering refinancing your mortgage, now would be a great time to act. By refinancing and replacing your existing home mortgage with a new one, you may be able to save thousands of dollars in interest payments over the life of your loan.
There are a variety of reasons to refinance your mortgage. Among the most common reasons are:
- Paying off your first mortgage and reducing your mortgage rate and monthly payments.
- Paying off your first mortgage and taking cash from your home equity.
- Paying off your first mortgage and reducing the length of your mortgage.
- Paying for home improvements, credit card, and debt consolidation.
Currently, at Total Mortgage a 30 year fixed conventional mortgage is offered at a rate of 4.125% with a 4.323% APR. The 15 year fixed conventional mortgage is offered at a rate of 3.625% with a 3.972% APR.
Because of record low mortgage rates, thousands of borrowers have been refinancing their home loans. According to the NY Daily News, “refinancing has been at its highest level since May 2009 and made up 82.4% of all new loan activities”.
Mortgage rates are changing constantly; all rates are quoted at 10:30 A.M. only August 30, 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% |
| 15 Year Fixed Jumbo Mortgage | 4.000% | 4.349% |
| 5/1 ARM Jumbo Mortgage | 3.625% | 3.657% |
If you are interested in lowering your mortgage payments or getting more favorable loan terms, call 877-868-2503 and speak with a licensed refinance expert. Start saving money 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, $400 appraisal 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, $400 appraisal 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, $450 appraisal 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 with 720 or higher FICO and 80 LTV and are subject to mortgage approval with full documentation of income. All rates are subject to change without notice.
All rates shown are for 30 day rate locks with 2 Points unless otherwise noted.
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