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  1. 30 Year Fixed Rate Mortgages at a Low 4.500% Interest Rate

    By on March 18, 2011

    30 Year Fixed Rate Mortgages at a Low 4.500% Interest RateAt Total Mortgage we consistently offer some of the best mortgage rates in the country. We have been able to save countless borrowers thousands of dollars in mortgage payments.

    We offer a wide array of mortgages, including fixed-rate mortgages, adjustable rate mortgages, FHA mortgages, and jumbo mortgages.

    Currently, we are offering 30 year fixed rate mortgages at a rate of 4.500% with an APR of 4.620%. 20 year fixed rate mortgages are offered at rate of 4.375% and an APR of 4.539%. 15 year fixed rate mortgages are available at a rate of 3.875% and an APR of 4.081%. Fixed rate mortgages are great for those who intend to stay in their home for the long term, or those who want the consistency of a set payment for the life of the loan.

    We also offer 30 year fixed FHA mortgages at a rate of 4.500% with an APR of 5.799%. FHA mortgages are excellent choices for people who don’t have a lot of money for a down payment. The FHA only requires a down payment of 3.5%.

    If you want to lock a low rate, or discuss any of our products with a licensed mortgage professional, call us today at 877-868-2503.

    Mortgage rates are always changing. All rates were quoted at 2:30 P.M., on March 18, 2011.

    * All rates shown are for 30 day rate locks. Longer locks are available. The APR for conventional loan amounts is calculated using a loan amount of $417,000, 1 point, 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, one point, 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, one point, 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 740 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 1 point unless otherwise noted.

    Category: Mortgage Rates

  2. Today’s 30 Year Fixed Rate Mortgage at 4.625%

    By on February 21, 2011

    Today’s 30 Year Fixed Rate Mortgage at 4.625%Mortgage rates eased slightly last week according to Freddie Mac. 30 year fixed rate mortgages averaged 5.0 percent and were slightly higher than last year at this time when the rate for 30 year fixed mortgages was 4.93 percent.  We can see that mortgage rates are slowly climbing up. If you want to save money lock in the low rates offered at Total Mortgage before they are gone. Whether you are a first-time homebuyer looking to purchase a house or a homeowner looking to refinance your existing mortgage loan and cut down your mortgage payments, Total Mortgage has some of the most competitive mortgage rates in the country.

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    Category: Mortgage Rates

  3. Current Low Fixed Rate Mortgages for January 24, 2011

    By on January 24, 2011

    Current Low Fixed Rate Mortgages for January 24, 2011Fixed rate mortgages are one of the most popular type of home loans in the United States. The interest rates on these mortgages are fixed during the life of the loan, so borrowers do not have to worry about their mortgage rates changing when interest rates rise. Fixed mortgages could be good for borrowers who plan to stay for a long term 10 years or more in the same house.

    For qualified borrowers, a 30 year fixed rate mortgage is available at a 4.375% rate and 4.581% APR. A 20 year fixed rate mortgage is available at a 4.250% interest rate and 4.532% APR, and a 15 year fixed rate mortgage is available at a 3.750% mortgage rate and 4.106% APR.

    In addition to low fixed rate mortgages, Total Mortgage also offers a wide array of other mortgage products such as FHA mortgages, jumbo mortgages and adjustable rate mortgages at some of the most competitive rates in the industry.  To see all our current mortgage rates please visit us online, or call 877-868-2503 to speak with a licensed mortgage professional today.

    Mortgage rates are always changing. All rates were quoted at 12:30 P.M., on January 24, 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.

    Category: Mortgage Rates

  4. Things to Consider When Applying For 30 Year Fixed Rate Mortgages

    By on January 19, 2011

    Things to Consider When Applying For 30 Year Fixed Rate MortgagesThere are a large number of home loans available in the market for borrowers to choose from to meet their individual needs. Fixed rate mortgages are among the most common in the US. Fixed rate mortgage are also categorized depending on the length of the mortgage terms, such as 30 year fixed rate mortgages, 20 year fixed rate mortgages and 15 year fixed rate mortgages.

    Among fixed rate mortgages, 30 year fixed rate mortgages are the most popular among borrowers. The appeal behind 30 year fixed rate mortgage is the rates for the mortgage loan remain constant throughout the mortgage term. In addition, mortgage payments are consistent every month and borrowers are able to know that amount in advance. Because of the longer mortgage term, monthly mortgage payments on 30 year fixed rate mortgages are considerably lower than 15 year or 20 year fixed rate mortgages.

    Since the housing market crisis, qualifying for home loans has been tougher with lenders tightening their mortgage requirements. However, if you are someone who is shopping for mortgages rates, here are a few things to consider when applying for a 30 year fixed rate mortgages.

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    Category: Mortgage Rates

  5. 30 Year Fixed Rate Mortgages at 4.250% at Total Mortgage

    By on January 12, 2011

    30 Year Fixed Rate Mortgages at 4.250% at Total MortgageThe Mortgage Bankers Association (MBA) released its Weekly Mortgage Application Survey this morning. According to the survey, mortgage applications went up 2.2 percent based on seasonally adjusted basis compared to last week.  The refinancing index again this week saw a jump of 4.9 percent from the previous week. However, the purchasing index declined 3.7 percent from last week. Also the MBA reported both the 30 year fixed rate mortgages and the 15 year fixed rate mortgages were slightly down compared to last week. The 30 year fixed rate mortgages averaged 4.78 percent from 4.82 percent last week. Likewise, the 15 year fixed rate mortgages averaged 4.15 percent from 4.23 percent from the previous week.

    The trend in decreasing rates can also be depicted at Total Mortgage. Total Mortgage has always posted some of the lowest mortgage rates in the mortgage industry. These low mortgage rates have continuously provided great opportunities for borrowers looking to purchase houses as well as those looking to refinance their existing mortgage loans and save thousands in the process.

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    Category: Mortgage Rates

  6. Today’s 30 Year Fixed Rate Mortgages at 4.625% at Total Mortgage

    1 By on December 28, 2010

    Today’s 30 Year Fixed Rate Mortgages at 4.625% at Total MortgageMortgage rates at Total Mortgage are among some of the lowest in the nation. Total Mortgage has and will continue to post some of the most competitive mortgage rates and will enable borrowers to continue to purchase new properties as well as refinance their existing mortgages to lower rates and save thousands in the process.

    Mortgages rates are very unpredictable. Rates were on the rise for the past six weeks but have started to creep down again. If you have been planning to purchase or refinance your mortgages now is the time to do so before mortgage rates go higher again.

    There are various types of mortgage products out in the market. Among them, fixed rate mortgages have always been the preferred one among most borrowers. Part of the appeal of fixed rate mortgages is that with fixed rate mortgages borrowers are able to know beforehand precisely how much they will pay each month for their mortgage payments because the mortgage rates remain constant throughout the life of the loan. Among fixed rate mortgages, many first time borrowers choose 30 year fixed rate mortgages for their low down payments as the loan is spread across the 30 years making it more affordable compared to other fixed rate mortgages such as 15 year or 20 year fixed rate mortgages.

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    Category: Mortgage Rates

  7. Which Loan is better – 30 Year Fixed Rate Mortgages or 15 Year Fixed Rate Mortgages?

    By on December 8, 2010

    Which Loan is better- 30 Year Fixed Rate Mortgages or 15 Year Fixed Rate Mortgages?There are a number of different mortgage products out there and it can be sometimes confusing and challenging to decide which one fits you best. It is always helpful to familiarize oneself with the basics of the various mortgage loans. This can be an added benefit when you apply for mortgage loans.

    Some of the common mortgage products are the fixed rate mortgages, FHA mortgages, adjustable rate mortgages (ARMs) and the jumbo mortgages. Among these, fixed rate mortgages are some of the most desired mortgage loans among many borrowers.

    Characteristics of Fixed Rate Mortgages

    • Fixed rate mortgages are home loans whose interest rates are fixed for the life of the loan. So if you lock in a low rate today you can enjoy it throughout the life of the loan.
    • Monthly mortgage payments are considerably lower compared to other mortgage products as the loan is spread across the length of the mortgage term
    • Fixed rate mortgages are also considered a worry free mortgage loans because borrowers do not have to worry about their rates increasing if the mortgage rates go up in the market.
    • Also with fixed rate mortgages, borrowers are able to know in advance what their next month mortgage payments will be. This can help many borrowers make any long term financial plans they may have.

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    Category: Mortgage Rates

  8. Current Mortgage Rates Drop Back Below Percent

    By on March 5, 2010

    current-mortgage-rates

    Current mortgage rates fell back below 5 percent this week following promising signs for the economy. The average rate on 30-year fixed rate mortgages was 4.97 percent, eight basis points lower than the previous week.

    Rates have been kept low by the Federal Reserve’s purchase of $1.25 billion worth of mortgage backed securities, which it will cease doing at the end of March. It is unclear what will happen when the Fed withdraws this support from the market.  The federal government’s first home buyer tax credit also expires at the end of April.  The consequence of  its expiration also remains to be seen.

    This news follows closely the news that the economy lost fewer jobs than expected in February. The unemployment rate stayed at 9.7 percent, while economists predicted it would rise to 9.8 percent. Stocks and oil rose in early trading on Friday after the employment news broke. There is guarded optimism that the employment picture may finally be stabilizing.

    Retail sales also rose 3.7 percent in February, the biggest one-month gain since 2007. This is the third consecutive monthly retail increase. Factory orders also rose 1.7 percent in January, and durable goods purchases went up 2.6 percent. Factory orders have gone up nine out of the last ten months.

    Although existing home sales dropped 7.6 percent in January, many economists believe this is due at least in part to the unusually bad weather across much of the country. Foreclosures were up in January over the previous year, and it will likely take several years for the housing market to totally recover, and that the recovery is largely predicated upon a better employment picture.

    The Federal Reserve has repeatedly indicated that it will keep interest rates low in the near future to support the fledgling economic recovery, but that rates will likely increase sometime in 2010 to combat inflationary pressures.

    Right now Total Mortgage Services is offering some of the best current mortgage rates in the nation, 30 year fixed rates starting at 4.5 percent, 30-year jumbo mortgage rates starting at 5.75 percent,  and five-year adjustable mortgage rates starting at 3 percent.*

    *Mortgage rates are volatile and may change multiple times in a day.  All mortgage rates quoted as of 10AM on Friday, March 5th.

    Total Mortgage Services would like to assist you with all your mortgage needs.  To speak with one of our mortgage experts, call us today at 888-868-2509.

    Category: Mortgage Rates, Stimulus

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