It’s Saturday and (hopefully) you’re not at work. However, we are still here, working to bring you the lowest mortgage rates we can. Rates have risen significantly since the fall, but there is still time to save money on your mortgage refinancing or home purchase with Total Mortgage. Call us today at 877-868-2503 to consult with one of our certified, licensed mortgage professionals. Call us now.
On this day in 1945, the Marines landed on Iwo Jima.
Our Rates:
Fixed rate mortgages remain the most common type of mortgage in the United States, largely because they shift most of the interest rate risk inherent in a long term loan to the lender, and there is generally no prepayment penalty on these types of loans. Qualified borrowers can get a 30 year fixed rate mortgage at a 4.625% mortgage rate with 4.746% APR. A 15 year fixed rate mortgage is available at a 4.125% interest rate and 4.333% APR.
FHA mortgages are an important avenue to homeownership for first time homebuyers and those who lack cash for a downpayment. FHA mortgages only require a 3.5 percent down payment compared to 20 percent or more from other financing sources. Qualified borrowers can get a 30 year fixed FHA mortgage at a 4.625% interest rate and 5.918% APR.
Adjustable rate mortgages have become more attractive as mortgage rates on fixed rate mortgages increase. Those who qualify can get a 5/1 conforming ARM at a rate of 3.375 percent and a 3.261 percent APR.
Jumbo mortgages are larger loans that are often associated with luxury homes or houses in very expensive markets. Currently, Total Mortgage is offering a 30 year fixed jumbo mortgage at 5.375% and 5.495% APR and a 15 year fixed jumbo mortgage at a 4.375% rate and 4.575% APR.
Mortgage rates are always changing. All rates were quoted at 9:15A.M., on February 19, 2011.
| Mortgage Product | Mortgage Rates | APR |
|---|---|---|
| 30 Year Fixed Conventional | 4.625% | 4.746% |
| 15 Year Fixed Conventional | 4.125% | 4.333% |
| 30 Year Fixed FHA | 4.625% | 5.918% |
| 30 Year Fixed Jumbo | 5.375% | 5.495% |
| 5/1 Conforming ARM | 3.375% | 3.261% |
| 5/1 Jumbo ARM | 3.500% | 3.315% |
For more information on our current mortgage rates and mortgages products call 877-868-2503 today, to speak with a licensed mortgage professional.
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