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 lender provides home loans at the following mortgage rates as of October 2, 2013.
The 30-year fixed rate deal is one of the home purchase loans that KeyBank offers. This type of fixed conventional loan is currently available at a rate of 4.430% with a corresponding annual percentage rate standing at 4.479%. The lender also offers the 15-year fixed version of this loan package, which is listed at 3.560% and carries an APR of 3.648%.
Borrowers who need more flexibility in terms of interest rates may want to use the adjustable rate mortgage (ARM) options from the bank. 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. KeyBank has several ARM alternatives in its mortgage loan portfolio.
With regards to KeyBank’s more flexible, adjustable rate loans, the 10/1 ARM is advertised at rate of 3.970% and an APR figure of 3.599%. The 7/1 ARM version of this loan comes with an interest rate of 3.625% and a corresponding APR of 3.272%. The 5/1 adjustable rate mortgage is up for grabs at a rate of 3.310% and it has an APR of 3.075%. The 3/1 ARM home purchase mortgage can be secured at a rate of 4.875%. The loan packages contains an APR of 3.542%.
KeyBank also offers the 30-year fixed FHA-backed loan, which starts at 4.125% and an APR figure of 4.230%. The shorter-term 15-year fixed FHA mortgage can be locked in at a rate of 3.625%. The corresponding APR is set at 3.811%.
At this lender, interested customers can find a number of VA mortgage loan options. Currently, the 30-year fixed VA loan is available at a rate of 4.125% and it bears an APR variable of 4.238%. In case of the 15-year version of this fixed VA mortgage, qualified mortgage shoppers can secure it at a rate of 3.625%. This loan comes with an annual percentage rate of 3.880%, according to the lender’s latest published rate information.
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 further information on KeyBank’s mortgage rates, please take a look at the lender’s website.