Interest Rate Trends ~ Historical Graphs for Mortgage Rates, 30 year mortgage rate.#30 #year #mortgage


30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

Interest Rate Trends

Three month, one year, three year and long-term trends of national average mortgage rates

on 30-, 15-year fixed, 1-year (CMT-indexed) and 5/1 combined adjustable rate mortgages;

30 year mortgage rate

30 year mortgage rate

One year trends of mortgage rates: 30-Year FRM, 15-Year FRM, 5/1 ARM

* Fully-Indexed Rate = index (1-year CMT) + margin (assuming a 2.75% margin)

30 year mortgage rate

30 year mortgage rate

Three year trends of mortgage rates: 30-Year FRM, 15-Year FRM, 5/1 ARM

* Fully-Indexed Rate = index (1-year CMT) + margin (assuming a 2.75% margin)

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate

30 year mortgage rate


Mortgage Rates, Monster Mortgage, 30 mortgage rates.#30 #mortgage #rates


30 mortgage rates

30 mortgage rates

Monster Mortgage Inc. is responsible for the Personal Information under its control and has appointed a Privacy Officer to oversee our efforts to comply in all materials respects with applicable privacy legislation and the terms of this Privacy Policy. If you wish to contact our Privacy Officer, you may do so as by Telephone: 1.877.819.3619

Shopping for a new home? Make sure you get pre approved now and lock in your rate!

Buying a new home? We’ll help you navigate the confusion of mortgage and payment options.

Mortgage up for renewal or looking to take advantage of lower interest rates? We’ll find the solution that’s right for you.

Use the equity you already have in your home to lower interest payments on bad debts, reduce payees, or pay for home renovations.

Held back by high-interest rate debt? Consolidate your debts into a lower interest rate and increase your monthly cash-flow.

Buying a home? Get up to $5000 cash back with Monstermortgage.ca

Make sure you and your family can pay off your mortgage in case of an accident, sickness, critical illness, or loss of life. GET PROTECTED.

Building a new home or renovating your property? MonsterMortgage.ca provides the most flexible construction financing in the country.

Don’t understand some of the jargon you’re hearing out there. We’ve got you covered

You’ve got questions, we’ve got all of the answers

Browse our library of whitepapers and get the facts you need

Recognized for 3 consecutive years as Canada’s Mortgage Brokerage of the Year, MonsterMortgage.ca is the smarter alternative to dealing with just one bank.

Fill out our mortgage application form or call us to start the process.

Interested in a career with Monstermortgage.ca? We’re always looking for top talent

We love and support the communities we work in. See what we’ve been up to in your community.

Ours can be as low as 2.40% (some conditions apply)


30 Year Mortgage Rates Today, 30 year mortgage rates.#30 #year #mortgage #rates


30 Year Mortgage Rates Today

30 year mortgage rates30 Year Mortgage Rates Today

Are you thinking of signing a 30 year mortgage? Keeping the same rates and monthly payments for 360 months can definitely sweeten the pot. However, it is good to keep an eye on the current 30 year mortgage rates. This way, you can determine if signing a 30 year mortgage is the best option for you.

Current 30 Year Mortgage Rates

  • The current 30-year mortgage rates for the nation are close to four percent. (Same as VA loans, how often will this be updated/monitored?)
  • Years ago, the cost to pay off your 30-year mortgage would have been $375,000.
  • Today, the estimated cost of paying off your 30-year mortgage is close to $173,000.

What Does This Mean For You?

The 30 year mortgage rates today mean good news for all homeowners. The low rates allow most homeowners to make their monthly mortgage payments. This is a great time to refinance your home. If you are looking to purchase a home, you may decide to sign a 30-year mortgage. Are you already a homeowner? Why not take advantage of the low rates and do a little comparison shopping? You can compare your current mortgage with the rates of today.

Use The Low Rates of Today To Your Advantage

This is a great time to apply for an FHA home loan, refinance your home or even purchase a new one. Are you thinking of applying for an FHA home loan? We offer low down payments, help you close your loan, and pay off your mortgage faster.

You do not want to wait until the rates spike up to take out a loan, sign a mortgage or refinance your home.

Do the current 30 year mortgage rates work for you? If you are ready to sign your 30 year mortgage contract, contact Paramount Equity Mortgage® today. You can speak to an experienced representative by calling (855) 333-5336, or email us.

The Paramount Pledge™ – Triple Protection

The Paramount Pledge. It is our promise to you that we’ll provide the best rates, won’t charge you an application fee to lock in a rate and will ensure we can close and lock in a rate at the terms we provide.

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates

Get Started! Get your free quote now

Corporate Headquarters. 916.290.9999

Toll Free. 877.290.9991

8781 Sierra College Blvd. Roseville Ca 95661

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates

30 year mortgage rates 30 year mortgage rates30 year mortgage rates

Paramount Equity Mortgage®, LLC is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License #4170047; Arizona Mortgage Banker License #0922160, NMLS# 30336; Colorado Mortgage Company Registration NMLS# 30336, Connecticut Mortgage Lender License # ML-30336; DC Mortgage Dual Authority License #MLD30336; Georgia Department of Banking and Finance Georgia Mortgage Lender License #42733, Florida Mortgage Lender Servicer License # MLD 898; Hawaii Mortgage Servicer License , Idaho Mortgage Broker/Lender license – MBL-8279, Indiana-DFI First Lien Mortgage Lending License, Indiana-SOS Loan Broker License, License # 30336 License # 28067, #MS136, Kansas licensed mortgage company License # MC.0025206; Maine Supervised Lender License – 30336; Maryland – Mortgage Lender License # 21172; Minnesota Residential Mortgage Originator License, License # MN-MO-30336, Minnesota Residential Mortgage Originator License Other Trade Name, North Carolina Mortgage Lender License NMLS# 30336, License# MN-MO-30336.1 ,Nevada Mortgage Banker License #3919; Nevada Broker License #4260, New Mexico Mortgage Loan Company License NMLS# 30336, MO Company Registration NMLS# 30336, 435 Nichols Road, Suite 200, Kansas City, MO 64112-2006; Licensed by the N.J department of Banking and Insurance NMLS# 30336; New Jersey Residential Mortgage Lender License NMLS# 30336, Ohio Mortgage Loan Act Certificate of Registration , NMLS # 30336, Oregon Mortgage Lender License #ML-3256, Texas SML Mortgage Banker Registration NMLS# 30336; South Carolina Board of Financial Institutions Mortgage Lender/Servicer License #MLS-30336; Tennessee Mortgage License #125485, NMLS# 30336, Texas SML Residential Mortgage Loan Servicer Registration NMLS# 30336, LLC NMLS #30336; Pennsylvania Mortgage Lender License #52769, Utah DRE Mortgage Entity License Other Trade Name#1 #9572003, Utah DRE Mortgage Entity License Other Trade Name#2 #9573336, Virginia Broker License #MC-5267, Virginia Lender License #MC-5267, Washington Consumer Loan Company License #CL-30336; and Wisconsin Mortgage Broker License #30336BR NMLS ID #30336.


30 Year Mortgages – Why You Should Explore Your Options, 30 year mortgage rates.#30 #year


30 Year Mortgages

30 year mortgage ratesIn the current mortgage loan market, which is certainly reflective of the national and global economy as a whole, any potential homeowner seeking to acquire a 30 year fixed mortgage will prove to be not only a wise choice, but a logical one from a purely financial standpoint. At the outset of 2012, the national mortgage interest rate average for a typical 30 year fixed home loan stands at 4.18 %, with no points applied, for any borrower with a credit score of 720 or higher and who plans on putting at least 20% down toward the financing package. Major regional lenders are reporting some rates as low as 3.75%, depending on the particular market criteria, making the prospect of any prospective 30 year mortgage loan acquisition very attractive in the present lending environment.

Naturally, this current interest rate being so low is one of the major benefits for any borrower to consider regarding a fixed 30 year mortgage. However, there are a number of additional benefits to ‘locking-in’ to a long-term interest rate. All across the country there are in increasing number of families and individuals struggling to manage an already overburdened budget. Quite a few are facing job layoffs or reduced work weeks, while others are having to contemplate decreased pay rates just to keep the jobs they are lucky enough to still have. As a result of these troubling economic scenarios, the 30 year fixed mortgage can obviously provide some needed stability in an otherwise less-than-positive financial outlook for any potential home buyer. Another primary benefit aside from the attractive low interest rates is the far more affordable monthly payment, which makes the 30 year fixed loan a definite plus when compared to a lesser term loan of say a 15 year mortgage, simply by virtue of the mathematics – the shorter the term, the higher the monthly payment.

The benefits to a 30 year fixed mortgage don’t stop there either, especially when comparisons are analyzed further when a borrower examines the variable or adjustable rate mortgages, commonly referred to as an ARM. The adjustable interest rate mortgage is designed to do exactly that. Depending on the loan structure, the interest rate will be adjusted by the lending institution’s policy as set forth in the loan agreement to fluctuate, which can be every six months, every three, or every five years. With a fixed rate, a 30 year loan can provide a borrower with the security of having not only the constancy of monthly payments being the same month after month for the life of the loan, but the peace of mind and ease of maintaining a budget over the long-term as well. In addition, potential borrowers who have recently become subject to incurring less-than-favorable credit scores can also greatly benefit by a fixed rate and payment loan structure. This form of repayment stability and interest rate lock can have a remarkable affect on improving a borrower’s credit standings by permitting an easier financial management environment in which, over a period of time, refinancing an existing loan will become entirely feasible.

30 year mortgage ratesChoosing a 30 year fixed mortgage is a sensible option in today’s financial climate, especially when the interest rates are standing at record low levels. The old adage of being in the right place at the right time is certainly appropriate for any prospective home buyer considering making this all-important decision. It doesn’t take a degree in financial planning or economics to know when the numbers point to a good or safe bet, and a 30 year fixed mortgage, in the current market, may be the best choice a home buyer can count on with a solid measure of confidence.


20-Year vs, 30 year mortgage rates.#30 #year #mortgage #rates


20-Year vs. 30-Year Mortgages

30 year mortgage rates

It’s time for a new mortgage match-up, and because paying down the mortgage early seems to be so en vogue these days, let’s take a look at “20-year mortgages vs. 30-year mortgages.”

The most common type of mortgage is the 30-year fixed. It amortizes over 30-years, and the mortgage rate never changes during that time.

Each mortgage payment is the same every month, so there isn’t any fear of interest rates resetting higher and pushing a homeowner toward foreclosure. Pretty basic, right?

This relative simplicity and safety explains their popularity, but they aren’t the end all, be all solution for every homeowner out there. There are other options.

30-Year Mortgages Have Drawbacks

When it comes down it, 30-year mortgages have some drawbacks, with the most obvious one being the long amortization period. They also come with the highest interest rates relative to other loan programs.

And since the mortgage takes so very long to be paid off, more interest is paid. Think of it this way. If you borrowed money from a friend and asked to pay it back over 30 years, they would probably say no.

If by chance they agreed, they’d want to charge you a higher rate of interest. And because you’d be paying it back so slowly, you’d pay a lot more interest over that time.

Assuming your loan amount is large, it could be the difference of many thousands of dollars versus a mortgage with a shorter term.

Look to a Shorter-Term Mortgage Like a 20-Year Fixed

So what are homeowners to do? Well, the most common solution to this ”problem” is to look at a shorter-term mortgage instead.

And while the 15-year fixed is the most common alternative, it comes with its own drawback, namely a much higher monthly mortgage payment.

In other words, not every homeowner can just say, I want to pay my mortgage off faster and switch to a 15-year fixed. It gets real expensive.

Fortunately, there are options in between, with the most common being the 20-year fixed mortgage.

A 20-year mortgage sheds 10 years off the typical loan term, and results in much less interest paid throughout its duration. The payments are also relatively manageable.

Let’s look at an example to illustrate the savings:

Loan amount: $200,000

Monthly mortgage payment: $954.83

Total interest paid: $143,738.80

20-year fixed @3.75%

Monthly mortgage payment: $1,185.78

Total interest paid: $84,587.20

20-Year Mortgage Rates Are Cheaper

As you can see, the interest rates aren’t much different, though the 20-year mortgage does price a little bit lower than the 30-year fixed.

Overall, I d say that 20-year mortgage rates price about a .25% below a comparable 30-year fixed. So 3.75% instead of 4%, or 3.5% instead of 3.75%. You get the idea.

They re definitely higher than rates on a 15-year fixed.

Anyway, in our example above the homeowner with the 30-year mortgage pays about $230 less each month, despite the higher mortgage rate.

But the 20-year mortgage results in interest savings of nearly $60,000 over the life of the loan! This borrower would also own their home free and clear an entire decade earlier.

Doesn t 20 years sound a lot more reasonable than 30? You can actually see the light at the end of the tunnel.

This shorter term can be pretty beneficial, especially if you plan to retire soon and anticipate being on a fixed income.

The 20-year fixed is also a good alternative because you won’t break the bank making your mortgage payment each month. It s a nice middle ground between 30 years and 15 years.

But again, the monthly payment will be higher than the 30-year payment, which could stretch you thin or limit what you can afford if you’re buying a home.

Go With a 20-Year Fixed Mortgage to Stay on Course

If you’re currently in a 30-year fixed, and don’t want to reset the mortgage clock when you refinance, consider a move to a 20-year fixed to stay on course without even paying more each month.

Because mortgage rates are so low at the moment, you may be able to refinance from a 30-year to a 20-year fixed mortgage and even lower your monthly payment.

Also keep in mind that there are other alternatives outside the 15, 20, and 30-year options.

And some banks even allow you to choose your own mortgage term, whether it’s a 17-year fixed or a 24-year fixed.

So be sure to look at all available options to determine which makes the most sense financially for your unique situation.

Also ask yourself why you want to pay the mortgage off sooner rather than later. There may be a better place for your money.


Mortgage Rates, Monster Mortgage, 30 yr mortgage rates.#30 #yr #mortgage #rates


30 yr mortgage rates

30 yr mortgage rates

Monster Mortgage Inc. is responsible for the Personal Information under its control and has appointed a Privacy Officer to oversee our efforts to comply in all materials respects with applicable privacy legislation and the terms of this Privacy Policy. If you wish to contact our Privacy Officer, you may do so as by Telephone: 1.877.819.3619

Shopping for a new home? Make sure you get pre approved now and lock in your rate!

Buying a new home? We’ll help you navigate the confusion of mortgage and payment options.

Mortgage up for renewal or looking to take advantage of lower interest rates? We’ll find the solution that’s right for you.

Use the equity you already have in your home to lower interest payments on bad debts, reduce payees, or pay for home renovations.

Held back by high-interest rate debt? Consolidate your debts into a lower interest rate and increase your monthly cash-flow.

Buying a home? Get up to $5000 cash back with Monstermortgage.ca

Make sure you and your family can pay off your mortgage in case of an accident, sickness, critical illness, or loss of life. GET PROTECTED.

Building a new home or renovating your property? MonsterMortgage.ca provides the most flexible construction financing in the country.

Don’t understand some of the jargon you’re hearing out there. We’ve got you covered

You’ve got questions, we’ve got all of the answers

Browse our library of whitepapers and get the facts you need

Recognized for 3 consecutive years as Canada’s Mortgage Brokerage of the Year, MonsterMortgage.ca is the smarter alternative to dealing with just one bank.

Fill out our mortgage application form or call us to start the process.

Interested in a career with Monstermortgage.ca? We’re always looking for top talent

We love and support the communities we work in. See what we’ve been up to in your community.

Ours can be as low as 2.40% (some conditions apply)


30 Year Mortgage Rates Today, current 30 year mortgage rates.#Current #30 #year #mortgage #rates


30 Year Mortgage Rates Today

Current 30 year mortgage rates30 Year Mortgage Rates Today

Are you thinking of signing a 30 year mortgage? Keeping the same rates and monthly payments for 360 months can definitely sweeten the pot. However, it is good to keep an eye on the current 30 year mortgage rates. This way, you can determine if signing a 30 year mortgage is the best option for you.

Current 30 Year Mortgage Rates

  • The current 30-year mortgage rates for the nation are close to four percent. (Same as VA loans, how often will this be updated/monitored?)
  • Years ago, the cost to pay off your 30-year mortgage would have been $375,000.
  • Today, the estimated cost of paying off your 30-year mortgage is close to $173,000.

What Does This Mean For You?

The 30 year mortgage rates today mean good news for all homeowners. The low rates allow most homeowners to make their monthly mortgage payments. This is a great time to refinance your home. If you are looking to purchase a home, you may decide to sign a 30-year mortgage. Are you already a homeowner? Why not take advantage of the low rates and do a little comparison shopping? You can compare your current mortgage with the rates of today.

Use The Low Rates of Today To Your Advantage

This is a great time to apply for an FHA home loan, refinance your home or even purchase a new one. Are you thinking of applying for an FHA home loan? We offer low down payments, help you close your loan, and pay off your mortgage faster.

You do not want to wait until the rates spike up to take out a loan, sign a mortgage or refinance your home.

Do the current 30 year mortgage rates work for you? If you are ready to sign your 30 year mortgage contract, contact Paramount Equity Mortgage® today. You can speak to an experienced representative by calling (855) 333-5336, or email us.

The Paramount Pledge™ – Triple Protection

The Paramount Pledge. It is our promise to you that we’ll provide the best rates, won’t charge you an application fee to lock in a rate and will ensure we can close and lock in a rate at the terms we provide.

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates

Get Started! Get your free quote now

Corporate Headquarters. 916.290.9999

Toll Free. 877.290.9991

8781 Sierra College Blvd. Roseville Ca 95661

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates

Current 30 year mortgage rates Current 30 year mortgage ratesCurrent 30 year mortgage rates

Paramount Equity Mortgage®, LLC is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License #4170047; Arizona Mortgage Banker License #0922160, NMLS# 30336; Colorado Mortgage Company Registration NMLS# 30336, Connecticut Mortgage Lender License # ML-30336; DC Mortgage Dual Authority License #MLD30336; Georgia Department of Banking and Finance Georgia Mortgage Lender License #42733, Florida Mortgage Lender Servicer License # MLD 898; Hawaii Mortgage Servicer License , Idaho Mortgage Broker/Lender license – MBL-8279, Indiana-DFI First Lien Mortgage Lending License, Indiana-SOS Loan Broker License, License # 30336 License # 28067, #MS136, Kansas licensed mortgage company License # MC.0025206; Maine Supervised Lender License – 30336; Maryland – Mortgage Lender License # 21172; Minnesota Residential Mortgage Originator License, License # MN-MO-30336, Minnesota Residential Mortgage Originator License Other Trade Name, North Carolina Mortgage Lender License NMLS# 30336, License# MN-MO-30336.1 ,Nevada Mortgage Banker License #3919; Nevada Broker License #4260, New Mexico Mortgage Loan Company License NMLS# 30336, MO Company Registration NMLS# 30336, 435 Nichols Road, Suite 200, Kansas City, MO 64112-2006; Licensed by the N.J department of Banking and Insurance NMLS# 30336; New Jersey Residential Mortgage Lender License NMLS# 30336, Ohio Mortgage Loan Act Certificate of Registration , NMLS # 30336, Oregon Mortgage Lender License #ML-3256, Texas SML Mortgage Banker Registration NMLS# 30336; South Carolina Board of Financial Institutions Mortgage Lender/Servicer License #MLS-30336; Tennessee Mortgage License #125485, NMLS# 30336, Texas SML Residential Mortgage Loan Servicer Registration NMLS# 30336, LLC NMLS #30336; Pennsylvania Mortgage Lender License #52769, Utah DRE Mortgage Entity License Other Trade Name#1 #9572003, Utah DRE Mortgage Entity License Other Trade Name#2 #9573336, Virginia Broker License #MC-5267, Virginia Lender License #MC-5267, Washington Consumer Loan Company License #CL-30336; and Wisconsin Mortgage Broker License #30336BR NMLS ID #30336.


30 Year Mortgages – Why You Should Explore Your Options, current 30 year mortgage rates.#Current


30 Year Mortgages

Current 30 year mortgage ratesIn the current mortgage loan market, which is certainly reflective of the national and global economy as a whole, any potential homeowner seeking to acquire a 30 year fixed mortgage will prove to be not only a wise choice, but a logical one from a purely financial standpoint. At the outset of 2012, the national mortgage interest rate average for a typical 30 year fixed home loan stands at 4.18 %, with no points applied, for any borrower with a credit score of 720 or higher and who plans on putting at least 20% down toward the financing package. Major regional lenders are reporting some rates as low as 3.75%, depending on the particular market criteria, making the prospect of any prospective 30 year mortgage loan acquisition very attractive in the present lending environment.

Naturally, this current interest rate being so low is one of the major benefits for any borrower to consider regarding a fixed 30 year mortgage. However, there are a number of additional benefits to ‘locking-in’ to a long-term interest rate. All across the country there are in increasing number of families and individuals struggling to manage an already overburdened budget. Quite a few are facing job layoffs or reduced work weeks, while others are having to contemplate decreased pay rates just to keep the jobs they are lucky enough to still have. As a result of these troubling economic scenarios, the 30 year fixed mortgage can obviously provide some needed stability in an otherwise less-than-positive financial outlook for any potential home buyer. Another primary benefit aside from the attractive low interest rates is the far more affordable monthly payment, which makes the 30 year fixed loan a definite plus when compared to a lesser term loan of say a 15 year mortgage, simply by virtue of the mathematics – the shorter the term, the higher the monthly payment.

The benefits to a 30 year fixed mortgage don’t stop there either, especially when comparisons are analyzed further when a borrower examines the variable or adjustable rate mortgages, commonly referred to as an ARM. The adjustable interest rate mortgage is designed to do exactly that. Depending on the loan structure, the interest rate will be adjusted by the lending institution’s policy as set forth in the loan agreement to fluctuate, which can be every six months, every three, or every five years. With a fixed rate, a 30 year loan can provide a borrower with the security of having not only the constancy of monthly payments being the same month after month for the life of the loan, but the peace of mind and ease of maintaining a budget over the long-term as well. In addition, potential borrowers who have recently become subject to incurring less-than-favorable credit scores can also greatly benefit by a fixed rate and payment loan structure. This form of repayment stability and interest rate lock can have a remarkable affect on improving a borrower’s credit standings by permitting an easier financial management environment in which, over a period of time, refinancing an existing loan will become entirely feasible.

Current 30 year mortgage ratesChoosing a 30 year fixed mortgage is a sensible option in today’s financial climate, especially when the interest rates are standing at record low levels. The old adage of being in the right place at the right time is certainly appropriate for any prospective home buyer considering making this all-important decision. It doesn’t take a degree in financial planning or economics to know when the numbers point to a good or safe bet, and a 30 year fixed mortgage, in the current market, may be the best choice a home buyer can count on with a solid measure of confidence.


30-Year VA Fixed Conforming Mortgage, Home and Mortgage Center, 30 year fixed mortgage rates.#30 #year


30 Year VA Fixed Rate Mortgages

You’ve served us. Now, we want to help you get ahead with this secure, predictable mortgage.

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

OUR GREAT RATES

The following payment example assumes a loan with points and that the purpose of the loan is to purchase a property, with a loan amount of $ and an estimated property value of . The property is located in Alexandria, VA and is within Fairfax county. The property is an existing single family home and will be used as a primary residence. The rate lock period is 60 days and the assumed credit score is .

At a interest rate, the APR for this loan type is . The monthly payment schedule would be:

  • payments of $ at an interest rate of
  • payments of $ at an interest rate of

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner’s insurance premiums.

FEATURES BENEFITS

  • Predictable payments
  • Free 60 day rate lock
  • Low down payment

• For home purchases or refinancing

• VA’s 2017 Loan Limits are the same as the Federal Housing Finance Agency’s limits – 2017 Loan Limits (Effective January 1, 2017). Learn More

• Offers not available on investment properties

Applicant is responsible for VA funding fee.

VA Mortgages: The maximum loan amount for a VA loan is the VA County Loan Limits. Can exceed VA County Limits to finance the funding fee on purchases only. Amount of loan will also be determined on available entitlement.

Funds must be used to purchase or refinance a property that will be the primary residence. Refinances of existing VA-guaranteed for purposes of lower interest rate also allowed (is not required to be primary residence).

For purchase applications, please submit a copy of your fully signed ratified purchase agreement to [email protected] in a timely manner to ensure PenFed can meet your closing date.

The applicant is responsible for the following fees and costs at the time of closing: Origination fee, if any, appraisal fee, tax service fee, CLO access fee, title fees, transfer tax fees, credit report fee, flood cert fee, recording fee, survey if required and work verification fee, escrow reserves and interest due until first payment, other cost may be included due to program specific circumstances. This is not intended to be an all-inclusive list.

Escrows may be waived if LTV is 80% or less in all states.

Additional reserve requirements may apply.

If you withdraw an application that was locked and reapply within 30 days, the new application is subject to worst case pricing.

All rates and offers are in effect as of , offered for a limited time and subject to change without notice. Restrictions apply to existing PenFed mortgage borrowers. Other restrictions may apply. Contact your PenFed mortgage consultant for any applicable additional restrictions and details about your loan. To receive any advertised product you must become a member of PenFed by opening a share (savings) account. Federally insured by the NCUA.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.


The 15 vs, 30 year mortgage.#30 #year #mortgage


The 15 vs. 30 Year Mortgage Debate: Why a 30-Year Loan Is Better

30 year mortgageAccording to Freddie Mac s most recent survey, there is currently a spread of 0.72% between the 15- and 30-year fixed rate mortgage benchmarks.

I think most people naturally assume that, when it comes to choosing between a 15- or 30-year fixed rate mortgage, the 15-year loan is usually the better option anyway. Considering the current spread, I m sure a lot of folks out there think they d be absolutely crazy to take out a 30-year loan.

All things being equal, a 15-year mortgage allows you to pay off your mortgage twice as fast while saving a significant chunk of money on interest. However,I say the 30-year mortgage is a more logical choice because it offers so many more advantages over its shorter-termed cousin.

Here are several big reasons why I think a 30-year fixed rate mortgage is the more pragmatic choice:

Lower payments. Of course, the biggest advantage of the 30-year mortgage is that it comes with lower payments; the money you save can then be invested or used as you see fit.

More budget friendly. Those lower payments not only take the strain off tight budgets but, if need be, they also allow you to stretch your dollar enough to purchase a more expensive home.

Increased flexibility. About eight years ago, with potential layoffs looming, I refinanced from a 15-year to a 30-year mortgage in order to lower my monthly payments by over 40%. Today, the threat of layoffs are still looming but I sleep a lot better knowing that my mortgage payment is only $600 per month instead of $1000.

More control. With a 30-year mortgage you re almost always free to make additional principal payments necessary to pay off your loan in 15 years without penalty. However, you re never obligated to do so, and can always change your mind as life s circumstances dictate. With the 15-year loan, you re hopelessly committed to giving that extra money to your lender each month whether you can really afford to or not.

Reduced financial vulnerability. By paying your lender that additional principal every month, you may be locking up too much money into your house. While it s true that the shorter loan builds home equity faster, you still need a lender s permission to tap into it with a home equity loan. If you lost your job, it s highly unlikely your bank would agree to give you such a loan, making that equity unavailable when you most needed it.

More opportunity for financial balance. Yes, building home equity and getting that house paid off is a noble goal. However, for young people just starting out, there are often other very important financial obligations that need to be addressed too. The higher payment that comes with a 15-year mortgage makes little sense if it leaves you unable to build an emergency savings account, or contribute anything to your 401(k) plan, IRA, and perhaps your kids college funds.

Bigger tax deductions. I can already feel the nasty emails coming my way: Agreeing to pay more interest in exchange for a bigger tax deduction is like spending a dollar to save a dime! I get it; this should never be the only reason for taking a 30-year mortgage over a 15-year mortgage. However, all things being equal, the larger tax deduction for the 30-year loan does temper the interest savings of a 15-year loan if only a little bit.

Effective inflation hedge. Inflation erodes the value of the dollar over time. As a result, payments made during the last 15 years of a 30-year loan are significantly lower in real terms than the day you first get the loan. That s why banks hate sustained periods of high inflation: folks with longer-term fixed-rate loans end up repaying those loans with dollars that are worth far less than the value of the dollars they originally borrowed.

No matter how you look at it, the faster inflation rises, the less sense it makes to pay off the mortgage early. With that in mind, a 30-year loan is definitely your best opportunity to stick it to the bank. For many people, I suspect that s probably reason enough to choose one.