It’s a beautiful Friday in the Northeast, so get outside and enjoy because it’s going to get cold soon. Before you do that, check out our ultra-low mortgage rates at Total Mortgage. Market conditions have forced rates to their all-time lows. According to Freddie Mac, the average mortgage rate on a 30 year fixed rate mortgage has dropped to 4.36 percent. Home financing hasn’t been this cheap since the 1950s, and our rates are even better!
Total Mortgage uses economies of scale to offer some of the lowest mortgage rates in the industry. Our 30 year fixed rate mortgage is available to qualified buyers at 4.125 percent and a 4.323 percent APR. For those who are looking to retire their debt 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. If you have good 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 current 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. The good news for you is that mortgage rates on jumbo mortgages are lower than ever. 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 a variety of 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 9:15 a.m. on August 27, 2010.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.125% | 4.323% |
| 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 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.
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