KeyBank is a subsidiary of KeyCorp (NYSE: KEY), which is a well-known bank holding company in the United States. The bank offers home purchase and refinance mortgage loans typically to borrowers with high credit scores. The mortgage interest rates listed below are valid for January 7, 2014.
The home loan conditions demand that a borrower must have a strong credit score and pay origination fees amounting to 1.00% of the total loan value to the lender. In addition, the loan to property value ratio must not exceed 80%.
Among KeyBank’s current home loan options mortgage shoppers will find the 30-year fixed rate mortgage being offered at a rate of 4.710% as of Tuesday and it’s accompanied by an annual percentage rate (APR) of 4.766%. The shorter-term and more affordable 15-year fixed rate home purchase mortgage can be acquired at a rate of 3.830% and the package bears an APR of 3.928%.
One of the more flexible home purchase loans that KeyBank offers is the 10/1 ARM, which bears 4.290% in interest and features an APR variable of 3.808%. The 7/1 ARM version is up for grabs at a rate of 3.830%. The corresponding APR stands at 3.375% as of Tuesday.
Furthermore, the Cleveland-based mortgage provider offers the 30-year fixed FHA-backed loan, which starts at 4.375% and an APR figure of 4.499%. The shorter-term 15-year fixed FHA mortgage can be locked in at a rate of 3.875%. The corresponding APR is 4.036%.
Individuals can also find numerous VA loan offerings at this bank. For instance, the 30-year fixed VA loan is starting at 4.375% and it carries an APR of 4.486%. In case of the 15-year version of this fixed VA mortgage, mortgage shoppers may be able to obtain it at 3.875%. This type of mortgage is accompanied by an annual percentage rate of 4.031%, according to the lender’s latest data.
The mortgage rate quotes given are liable to change without notice and can vary when the loan is approved or the funds are disbursed. The APR calculations were made using closing costs and discount points, assuming that the borrower will conform to the loan conditions, including lock-in periods.
For additional details on KeyBank’s most up-to-date mortgage rates, please head over to the lender’s website.