FHA Mortgage Rates and Fixed Loans: Quicken Loans and KeyBank Mortgage Rates Roundup for June 20, 2013
Quicken Loans is the largest online retail mortgage provider in the United States. It’s also ranked as the third largest lender overall. The lender provides home refinance loans at the following mortgage rates as of June 20, 2013.
Presently, the 30-year fixed rate home refinance mortgage at Quicken Loans is available at an interest rate of 4.125% and an effective annual percentage rate (APR) of 4.345%. The shorter-term 15-year fixed rate home refinance loan is offered at an interest rate of 3.25% and a corresponding 3.613% APR.
FHA loans, which usually come with lower down payments than fixed conventional loans, are also available at Quicken Loans. Currently, the 30-year FHA mortgage is up for grabs at 3.25% and it bears an APR variable of 4.115%.
Borrowers who need more flexibility in terms of interest rates may want to use the adjustable rate mortgage (ARM) options from Quicken Loans. These come with a fixed interest rate period then the rate is adjusted depending on prevailing interest rates at the reset schedule for the rest of the loan’s duration. The mortgage lender offers the 7/1 ARM home refinance loan at 2.875%, which comes with an APR variable of 3.10%.
With its headquarters located in Cleveland, Ohio’s Public Square, KeyBank is one of the most well-known providers of home mortgages. The bank operates as a subsidiary of KeyCorp (NYSE: KEY), which was formed by a merger in New York. The bank offers home purchase and refinance mortgage loans.
The 30-year fixed rate deal is one of the home purchase loan that KeyBank offers. It’s available at an interest rate of 4.410% with a corresponding annual percentage rate of 4.476%. The lender also offers the 15-year fixed version of this conventional mortgage package, which is listed at 3.550% and carries an APR of 3.663%.
One of the more flexible home purchase loans that KeyBank offers is the 10/1 ARM, which bears 4.000% in interest and features an APR variable of 3.706%. The 7/1 ARM version is up for grabs at a rate of 3.875%. The corresponding APR stands at 3.425% as of today.
Please, check the lenders’ websites for more additional information on current mortgage loans offerings.Tweet