Buying Down Your Interest Rate, The Truth About, current mortgage interest rate.#Current #mortgage #interest #rate


Buying Down Your Interest Rate

Many borrowers and prospective homeowners out there are looking for the lowest possible interest rate, even if it means pulling money out of their own pocket at the time of financing.

Though most borrowers usually opt for a higher mortgage rate to avoid paying closing costs when buying a home or refinancing, some savvy homeowners will pay the one-time fees and take a lower interest rate to save money over the long term.

Of course, this strategy only really makes sense if you plan to stay with the mortgage for a long period of time, as associated savings aren t usually realized for several years.

Buying Down the Rate

If you re working with a bank or mortgage broker, you can easily buy down your interest rate by asking for a series of different rates and associated costs. This is known as buying down the rate, and is common practice in the mortgage industry.

You may have seen mortgage advertisements for no point mortgages or zero point mortgages, and may be quick to jump on them. And though these no cost loans could serve you well to leverage your money, for borrowers who have decent asset reserves and plan to pay off their loan, buying down the interest rate may be a better idea.

Should you buy down your rate?

Deciding whether or not to buy down your interest rate can be tricky, but if you get your hands on a rate sheet, you can make the decision quite easily. Most mortgage programs have a system where you ll pay a certain amount in fee for a specified change in interest rate.

For example, if your interest rate at the par rate is 6.25%, but you d like a rate of 6%, you ll need to buy down that rate by paying mortgage discount points.

Mortgage discount points are a form of prepaid interest that can lower your mortgage rate if you so desire.

A rate sheet may look something like this:

Each rate has a corresponding price, which is simply displayed as a percentage of the loan amount. In the example above, the par rate would be 6.25%, as it has an associated price of zero.

How much does 1 point lower your interest rate?

If you look at the buy-down ratio for each rate, it isn t exactly a perfect science. Well, at least not to us non-bankers. Usually as the interest rate goes lower, the price to buy down goes higher, often disproportionately. This actually makes sense because it gets increasingly expensive to go well below typical market rates.

As you can see, someone could pay one point for a rate of 5.875%, but be asked to pay nearly double that to get the rate down another eighth to 5.75%. That probably wouldn t make much sense.

This is why it s important to decide on a pricing threshold where it makes sense to buy it down instead of chasing a certain rate.

For some reason, homeowners seem to have a specific interest rate in mind that they must have. It s foolish to go after a precise rate, especially when the cost associated may eclipse the actual savings you d accrue over time with the slightly lower rate.

Even if you have your heart set on X rate, you may want to see what the lender is offering, then compare your mortgage payment at different rates and consider the associated costs for buying down to those rates.

Note: There may be a limit to how many mortgage points you can buy based on the new QM rules, along with how low the lender is willing to go. It also gets to a point where it no longer makes sense to keep going lower because the cost becomes excessive.

Look at a comparison of interest-only mortgage payments on a $500,000 loan amount

Interest rate of 6.25% with a price of 0.00 Monthly payment: $2604.17

Interest rate of 5.875% with a price of 1.00 Monthly payment: $2447.92

Total monthly savings: $156.25

Total cost to buy down rate to 5.875%: $5,000.00

It would take roughly 32 months to realize the savings associated with the lower rate of 5.875%. It may be worth it if you plan on staying in your home over a long period of time, but if not, it might be wise to stick with a slightly higher interest rate at no cost.

Do the math to figure out which rate makes the best sense to buy down based on your long term plan with the associated property. Buying down your interest rate can be a great decision, but also a foolish one if you pick up and go after a year or less.

And remember, don t focus on an exact interest rate. It simply isn t worth it sometimes, especially when the price doubles to drop the interest rate a mere eighth or quarter percentage point.


Current VA Loan Rates – VA Mortgage, VA Streamline Loan and VA Cash-out Loan, current


VA Loan Rates

Or call (855) 639-3267 for

Most Popular Pages

Current VA Loan Rates

VA Loan Rates

The VA offers several mortgage types, and each carries its own va loan interest rate, fees, and closing costs. The details can feel daunting, but you don’t have to master them because our VA Loan Specialists already have. Let them help you choose the right type of loan for your individual situation. They’ll also help you lock in the best interest rate possible.

Factors Affecting Your Interest Rate

Your interest rate can be affected by several factors, including:

  • Your credit score
  • Debt-to-income ratio
  • Duration of loan (15-year, 30-year, etc.)

Fixed-Rate VA Loans Rates

The interest rate on a fixed-rate mortgage never changes during the life of the loan.

  • You can choose a fixed-rate loan with payments over 30 years, 25 years, 20 years, or 15 years.
  • Typically, the shorter the loan life, the lower the interest rate.
  • A loan specialist can help you sort through the pros and cons of each option.

Current mortgage loan rates

Hybrid ARM Loan Rates

Hybrid loans are a mixture of fixed and adjustable rates.

  • Lowest interest rates available.
  • The loan rate on a VA hybrid ARM is fixed for either 3 years or 5 years and then becomes adjustable.
  • After the three or five-year fixed period, the interest rate can go up or down.
  • Never more that 1% per year and 5% over the entire life of the loan.
  • The initial fixed period carries a lower interest rate, making it easier for first-time buyers to become homeowners.

Current mortgage loan rates

VA Streamline Refinance Loan Rates

If you already have a VA home loan and want lower monthly payments, consider a VA Streamline Refinance.

  • Our loan specialists can help calculate how much you will save by refinancing.
  • Paperwork is “streamlined,” making your refinance faster and easier.

VA Cash-Out Loan Rates

If you want to refinance a VA loan while at the same time taking cash out from the value of your home, consider a VA Cash-Out Loan.

  • Borrow up to 100% of your homes’ value
  • Turn your equity into cash for home improvements, debts, or simply extra cash.
  • Our loan specialists will explain interest rates, fees, and how much equity you can safely withdraw.

Current mortgage loan rates

VA vs. Conventional

VA home loans have many advantages over conventional loans.

  • Lower interest rates.
  • No downpayment required (in most cases).
  • No Private Mortgage Insurance (PMI).
  • Fewer allowable fees

Why choose VA Loan Desk?

Our Experience

Patriot Home Mortgage and VA Loan Desk finances more homes for veterans than any other VA lender in the United States.

Our Expertise

Years of experience gives us unmatched expertise that ensures you get the most from your VA benefits.

Our Network

VA Loan Desk’s vast network of lenders throughout the U.S guarantees you the lowest possible VA loan rate.

Current mortgage loan rates

Call (855) 639-3267 to talk with a VA Loan Specialist.

Copyright 2009-2017, VA Loan Desk. All Rights Reserved.

619 S Bluff Street Tower 2 Ste 1B

St George, UT 84770

VA Loan Desk, a division of Belem Servicing LLC DBA Patriot Home Mortgage is not currently affiliated with and government agency, including the VA or HUD. Belem Servicing LLC DBA Patriot Home Mortgage is not licensed in all states. If you complete our application however, we will have one of our approved partners contact you.

Belem Servicing LLC DBA Patriot Home Mortgage is licensed as: NMLS #3117; Arizona: MB-0922164; California: 603K011; Colorado: 715386; Florida: MBR1182; Georgia: 36196; Idaho: MBL-7654; Maine: 715386; New Mexico: 715386; North Dakota: MB102582; Oregon: ML-5139; Utah: 8015368 & 8015607; Virginia: MC-5644; & Wyoming: 2453 Belem Servicing LLC DBA Patriot Home Mortgage, is not a government agency and not acting on behalf or under the direction of the VA.

Texas Recovery Fund Notice


Current Interest Rates on Home Loans, Savings, Car loans – CD Rates, current mortgage rate.#Current


Today’s Interest Rates and Financial Advice:

Current mortgage rate

Financial Advice

Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

November 14th 2017

The average cost of financing a new or used car or truck has stayed low over the past year, making auto loans a bargain by any historical measure. And buyers with reasonably good credit can always take advantage of the discount loans automakers are offering on many models.

November 13th 2017

Lending money to your child is risky business. But if you can avoid the personal pitfalls and convince the federal government that this is really a loan, and not a gift, the Bank of Mom and Dad can be a financial boon for everyone in the family.

November 13th 2017

Here’s how to make all of the right decisions so that you’ll save more, invest wisely and take full advantage of all the tax breaks to build your retirement nest egg.

November 10th 2017

It’s not enough to find a good location at an affordable price. Condo buyers must consider lots of extra costs, from association fees and special assessments to how well the building is maintained and how strictly it enforces rules on everything from noise to pets.

November 10th 2017

You’ve scouted out the best mortgage rate and fought hard to get the best price on your new home. But your bargaining shouldn’t stop there. Here’s how you can save on everything from settlement fees to title insurance.

November 8th 2017

Current mortgage rate

Interest ing Snapshot

Individual retirement accounts, or IRAs, are a great way to build financial security for you and your family. They’re easy to open and our simple strategy helps you make all the right decisions now, and in the years ahead.

Current mortgage rate

Current mortgage rate


Current Mortgage Rates in Quebec – Find the Best – Lowest Today, current mortgage rate.#Current


Current Mortgage Rates in Quebec

We shop the most competitive brokers, lenders and banks in Quebec to bring you today’s lowest interest rates, free of charge! Our comparison charts list current Quebec rates, and are updated on a daily basis. To compare a certain category, click on the “See All” button for more details.

Best Mortgage Rates in Quebec

Ratehub.ca compares mortgage rates across Quebec to find you the lowest possible mortgage rates in the province. We check mortgage brokers, banks, credit unions, and private mortgage lenders to find you the cheapest mortgage solutions.

Why should I compare mortgage rates in Quebec?

No mortgage is just like another. Depending on which bank, credit union, or private lender created the mortgage – and who it was intended for – the rates, terms, and conditions could be very different. If you want the best mortgage for your special needs you need to understand all of your options.

Should I get an open or closed mortgage rate in Quebec?

Closed and open mortgages differ in their repayment options. In a closed mortgage, payments made above and beyond your regular monthly payment price are restricted to set levels. Closed mortgages often have lower interest rates.

Open mortgages allow borrowers to repay as much of the principal as they choose – at any time. This greater flexibility comes with the price of higher interest rates.

What is the difference between a variable vs. fixed mortgage rate in Quebec?

The popular choice for a mortgage in Quebec is the fixed interest rate mortgage. The fixed interest rate is set for the term of the mortgage without fluctuation. This allows borrowers to know exactly what their mortgage payments will be each month, making household planning stable.

A variable rate mortgage, chosen by approximately one third of all Quebecers, has an interest rate that is tied to prime. As the prime rate fluctuates, so does the mortgage interest rate. This interest rate fluctuation affects the monthly payment. While most variable mortgages have lower interest rates at the start of a mortgage term, they are not as popular as their fixed counterparts because of this instability.

What are prepayment options?

Prepayment options are the terms that define how much of an increase can be made to your monthly mortgage payment, or how large of a lump sum payment is able to be made towards your principal. These increases are based on a set percentage – when payments are made over and above these allowable percentages, interest based penalties will be applied to your mortgage.

What is the mortgage ratehold?

A ratehold allows you to lock into an interest rate for a certain number of days before your mortgage is actually renewed or closed. The renewal date is the date on which the term of mortgage expires, not to be confused with the amortization period . A rate hold allows you to take advantage of favourable rates today, while still taking advantage of possible lower rates closer to your closing date.

Quebec Housing Market Forecast 1

Quebec’s economy is growing. This, combined with continued low interest rates, and an increasing population will continue to boost the housing market. Strong consumer spending and investment will increase the economy’s strength and drive job creation up. As the population ages there will be changes in the needs of many households which will increase resale transactions across the province.


Home Loan Interest Rates – Best Housing Loan Rates & Service Charges, current home loan


Home Loan Interest Rates

Are you wanting to purchase the house of your dreams?

DHFL offers you the best home loan rates that will help you maintain your monthly budget.

Best Home Loan Interest Rate offered from DHFL

Click here to download the Mock MITC format

DHFL Home Loan Interest Rates:

For Salaried / SEP (Re-substitution ROI)

For Self Employed / SENP (Re-substitution ROI)

DHFL ensures that you get the best services on your home loan, please find below the charges applicable on services associated with your home loan:

` 100 + Applicable GST for loans above ` 5 lac

b. Beyond 60 km: ` 500 + Applicable GST for first visit and ` 750 + Applicable GST for subsequent visits

Subsequent visits: ` 500 + Applicable GST

(Borrower/co-borrower is other than individual)

b. ` 5000 + Applicable GST for loan above ` 75 lac

a. Conversion scheme can be availed only after 1 year from the date of disbursement.

b. Conversion scheme is not applicable for loans sanctioned under Land Loans, Easy Land Cum Construction Loans and/or Composite Loan (for only those cases where construction is still not done) and for Surrogate Products.

Subsequent : ` 250 + Applicable GST

` 2,000 + Applicable GST for loans above ` 10 Lac

No conversion is applicable for loans sanctioned under Land Loans, ELCC/ Composite Loan (Only those cases where construction is still not done) and Surrogate Products.

We at DHFL, offer you the one of the lowest interest rate for a home loan which sure does make a huge difference to your overall budget. Also, with the current rate of interest on home loans, DHFL will help ensure that financial restraints do not come your way, while your purchase your very own dream home. So do not hesitate to take our help and invest in a lifetime of happiness for yourself.

*Terms and conditions apply. Limited Period Offer

Current home loan rates


Current VA Loan Rates – VA Mortgage, VA Streamline Loan and VA Cash-out Loan, current


VA Loan Rates

Or call (855) 639-3267 for

Most Popular Pages

Current VA Loan Rates

VA Loan Rates

The VA offers several mortgage types, and each carries its own va loan interest rate, fees, and closing costs. The details can feel daunting, but you don’t have to master them because our VA Loan Specialists already have. Let them help you choose the right type of loan for your individual situation. They’ll also help you lock in the best interest rate possible.

Factors Affecting Your Interest Rate

Your interest rate can be affected by several factors, including:

  • Your credit score
  • Debt-to-income ratio
  • Duration of loan (15-year, 30-year, etc.)

Fixed-Rate VA Loans Rates

The interest rate on a fixed-rate mortgage never changes during the life of the loan.

  • You can choose a fixed-rate loan with payments over 30 years, 25 years, 20 years, or 15 years.
  • Typically, the shorter the loan life, the lower the interest rate.
  • A loan specialist can help you sort through the pros and cons of each option.

Current refinance rates

Hybrid ARM Loan Rates

Hybrid loans are a mixture of fixed and adjustable rates.

  • Lowest interest rates available.
  • The loan rate on a VA hybrid ARM is fixed for either 3 years or 5 years and then becomes adjustable.
  • After the three or five-year fixed period, the interest rate can go up or down.
  • Never more that 1% per year and 5% over the entire life of the loan.
  • The initial fixed period carries a lower interest rate, making it easier for first-time buyers to become homeowners.

Current refinance rates

VA Streamline Refinance Loan Rates

If you already have a VA home loan and want lower monthly payments, consider a VA Streamline Refinance.

  • Our loan specialists can help calculate how much you will save by refinancing.
  • Paperwork is “streamlined,” making your refinance faster and easier.

VA Cash-Out Loan Rates

If you want to refinance a VA loan while at the same time taking cash out from the value of your home, consider a VA Cash-Out Loan.

  • Borrow up to 100% of your homes’ value
  • Turn your equity into cash for home improvements, debts, or simply extra cash.
  • Our loan specialists will explain interest rates, fees, and how much equity you can safely withdraw.

Current refinance rates

VA vs. Conventional

VA home loans have many advantages over conventional loans.

  • Lower interest rates.
  • No downpayment required (in most cases).
  • No Private Mortgage Insurance (PMI).
  • Fewer allowable fees

Why choose VA Loan Desk?

Our Experience

Patriot Home Mortgage and VA Loan Desk finances more homes for veterans than any other VA lender in the United States.

Our Expertise

Years of experience gives us unmatched expertise that ensures you get the most from your VA benefits.

Our Network

VA Loan Desk’s vast network of lenders throughout the U.S guarantees you the lowest possible VA loan rate.

Current refinance rates

Call (855) 639-3267 to talk with a VA Loan Specialist.

Copyright 2009-2017, VA Loan Desk. All Rights Reserved.

619 S Bluff Street Tower 2 Ste 1B

St George, UT 84770

VA Loan Desk, a division of Belem Servicing LLC DBA Patriot Home Mortgage is not currently affiliated with and government agency, including the VA or HUD. Belem Servicing LLC DBA Patriot Home Mortgage is not licensed in all states. If you complete our application however, we will have one of our approved partners contact you.

Belem Servicing LLC DBA Patriot Home Mortgage is licensed as: NMLS #3117; Arizona: MB-0922164; California: 603K011; Colorado: 715386; Florida: MBR1182; Georgia: 36196; Idaho: MBL-7654; Maine: 715386; New Mexico: 715386; North Dakota: MB102582; Oregon: ML-5139; Utah: 8015368 & 8015607; Virginia: MC-5644; & Wyoming: 2453 Belem Servicing LLC DBA Patriot Home Mortgage, is not a government agency and not acting on behalf or under the direction of the VA.

Texas Recovery Fund Notice


Current Interest Rates on Home Loans, Savings, Car loans – CD Rates, current interest rates.#Current


Today’s Interest Rates and Financial Advice:

Current interest rates

Financial Advice

Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

November 14th 2017

The average cost of financing a new or used car or truck has stayed low over the past year, making auto loans a bargain by any historical measure. And buyers with reasonably good credit can always take advantage of the discount loans automakers are offering on many models.

November 13th 2017

Lending money to your child is risky business. But if you can avoid the personal pitfalls and convince the federal government that this is really a loan, and not a gift, the Bank of Mom and Dad can be a financial boon for everyone in the family.

November 13th 2017

Here’s how to make all of the right decisions so that you’ll save more, invest wisely and take full advantage of all the tax breaks to build your retirement nest egg.

November 10th 2017

It’s not enough to find a good location at an affordable price. Condo buyers must consider lots of extra costs, from association fees and special assessments to how well the building is maintained and how strictly it enforces rules on everything from noise to pets.

November 10th 2017

You’ve scouted out the best mortgage rate and fought hard to get the best price on your new home. But your bargaining shouldn’t stop there. Here’s how you can save on everything from settlement fees to title insurance.

November 8th 2017

Current interest rates

Interest ing Snapshot

Individual retirement accounts, or IRAs, are a great way to build financial security for you and your family. They’re easy to open and our simple strategy helps you make all the right decisions now, and in the years ahead.

Current interest rates

Current interest rates


Latest Mortgage Rates for Remortgaging, Buy to Let and First Time Buyers, current mortgage rates.#Current


current mortgage rates

Current mortgage rates

Compare Thousands of Mortgage Products Online

We have a range of loans to suit everyone

Whether you’re a first-time buyer, need to reduce your monthly bills with a remortgage investing in a buy-to-let property, we can help you. The MortgageRates.org.uk free impartial and no obligation broker service enables you to find the right product for your circumstances. Simply complete our free quote form and save money today.

Today’s Lowest Two-Year Loan Rates

Our independent financial advisors compare all products for you, so you don’t have to.

Guide to Mortgaging

There are two types of home loans available for remortgaging or new home buying. The first is a simple repayment plan where you pay a portion of the loan off each month with interest and at the end of the lending period there is no outstanding balance.

An interest-only loan is where you only pay the interest incurred each month. You never repay the original loan which remains outstanding. These types of product are slowly being withdrawn from the market.

You can always see how much these are going to cost you by using one of the many calculators online.

Types of Mortgages

There are many deals for new borrowers or to remortgage an existing debt that typically fall into the following categories:

Variable

The interest rate rises and falls generally in line with the Bank of England base rate.

Fixed

You receive a discounted fixed introductory rate for a certain period of between two and five years subject to status. At the end of this period, you’ll pay the lender’s variable rate.

Offset

These loans can be on fixed or variable interest rates with the loan being offset against your other current or savings accounts. These types of mortgages can knock several years off the length of the loan but check the terms are competitive.

Current Interest Rate Terms

Here are the current rates on offer in the marketplace today for standard variable products (SVR):

  • Bank of England base 0.5%.
  • Halifax SVR 3.74%.
  • Nationwide SVR 3.74%.
  • HSBC SVR 3.69% (this does not track the BOE).
  • Barclays SVR 3.74% (via the Woolwich).
  • Santander SVR 4.49%.

Current mortgage rates

Today you may need a higher deposit than in recent years, with most of the best buys in the market lower than the SVRs quoted above.

Lenders in our Database

  • Current mortgage rates
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Other Information

The Financial Conduct Authority regulates the mortgage market lenders and specialist brokers in the UK. They also provide excellent advice and guidance on financial arrangements.

To find out how much you have to pay each month check out our new mortgage repayment calculator now! You’ll see your total loan repayments each month and how much interest you pay over the lifetime of the mortgage.


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.