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Mortgage Rates
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Just like negotiating a car purchase, your mortgage rate can be flexible. Whether you’re interested in a home mortgage, home equity loan or refinancing options – it’s important to educate yourself with the options that are available to you and compare quotes from several different lenders.

It’s important to know the monthly payment you can afford, the money you have saved for a down payment and the current interest rate. However, there are several additional variables you need to know before obtaining a loan.

Additional Fees
Additional fees, such as title fees, closing fees and other costs are included in your loan, but fee structures differ with each lender and financial situation. Make sure to compare several offers and notations regarding these additional fees. Be educated and prepared – compare offers today!

Interest Rates Vary
Mortgage loans differ in how the interest rates are set. There are fixed-rate mortgages, Adjustable Rate Mortgages (ARMs), and convertible mortgages, which are a kind of combination of the two. Find out which type of mortgage loan will best fit you today!

Points
Points are fees often linked to the interest rate and paid to the broker or lender for the loan, and are usually paid in cash at closing. Usually, the more points you pay for, the lower the rate you have. One point equals 1 percent of the loan amount, but make sure you know the dollar amount of the points you are quoted so you can factor in how much you will be responsible for paying. In some cases, the money needed to pay points can be borrowed, although this will also increase the loan amount and the total costs.

Discover your options – compare mortgage offers today!

 

*About Our Advertised Rates

Fixed Interest Rates
- Our advertised fixed interest rates are based on a 15-year fixed-rate loan with a loan-to-value ratio of less than 80% and are current as of Mar 8th, 2010. The Annual Percentage Rates (APRs) of the loans will be slightly higher.
-Loans may carry closing costs and/or origination points. Rate and terms offered may vary depending on your credit history and other qualifications, amount of equity in the property, property location, type of property, and other factors. We arrange but do not make loans.

Adjustable Interest Rates and Advertised Payment Terms
-Our advertised adjustable interest rates are based on a 5/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term and are current as of Mar 10th, 2010.
-For a $200,000 loan, the initial interest rate is 3.500% for 5 years with 1.625 discount points due at closing. There is a 3.44% APR with an initial monthly principal and interest payment of $898 for the first 5 years. After a period of 5 years, the potential interest rate is estimated at 3.125% with an estimated monthly payment of $863.
-An Adjustable Rate Mortgage (ARM) is a mortgage with an adjustable rate that is amortized over 30 years.
-Your interest rate is fixed for the first 3, 5, or 7 years of the loan repayment period, depending on the type of ARM you have.
-After the initial fixed-rate period, the interest rate could adjust every 12 months, depending on the product and the financial markets.
-Interest rate adjustments are capped at 5% above your initial rate and 2% per adjustment period. In other words, if your initial interest rate is 4.5%, your rate will never be higher than 9.5%, and never rise more than 2% per year.
-Actual mortgage payment will vary based on your situation and the current interest rate when you apply.
-Not all consumers will be matched to a lender that is able to supply the advertised rates.
- Interest rate quoted assumes a FICO score of 720 with a maximum loan-to-value ratio of 80% on a primary residence.
-The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors.
-May not be available in all states.
-Available rates and payment terms are subject to change daily without notice.
-Payment amounts shown do not include taxes or insurance.
-The Annual Percentage Rate (APR) is variable and is subject to increase or decrease, so your payments may increase or decrease each year.

 

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