Total Mortgage is known throughout the mortgage industry for our dedication to customer service and our low mortgage rates. We offer a wide array of mortgage products, and are able to craft individualized lending solutions that will meet the needs of most every kind of borrower. Today I’d like to highlight the low rates that are available on our fixed rate mortgages, including conventional mortgages, FHA mortgages, and jumbo mortgages.
Fixed rate mortgages are the most popular type of mortgage in the United States because people enjoy the long-term security that they offer. As there is generally no prepayment penalty on a fixed rate mortgage, the borrower bears relatively little long term interest rate risk. Generally speaking, we are in the midst of a period of aberrantly low mortgage rates. Historically speaking, rates on 30 year fixed mortgages tend to run between 6-9 percent. Borrowers who are able to lock today’s low rates will likely be paying well below the market rate in a couple of years.
For more information on our low rates, or to speak with one of our licensed mortgage professionals, call us today at 877-868-2503.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.500% | 4.620% |
| 20 Year Fixed Conventional | 4.375% | 4.539% |
| 15 Year Fixed Conventional | 3.875% | 4.081% |
| 30 Year Fixed FHA | 4.500% | 5.799% |
| 30 Year Fixed Jumbo | 5.250% | 5.369% |
| 15 Year Fixed Jumbo | 4.000% | 4.197% |
Mortgage rates are always changing. All rates were quoted at 1:50 P.M., on March 21, 2011.
*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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