Quicken Loans is an American online retail home loan provider. The company is the biggest online mortgage lender and the third largest overall lender in the country. Quicken Loans provides home refinance loans for interested customers, among its other financial services.
At the Detroit-based lender, the 30-year fixed refinance loan is quoted at a rate of 4.50% and an annual percentage rate (APR) of 4.714% as of Tuesday, December 17. Mortgage shoppers, who prefer the 15-year fixed counterpart, can expect to pay 3.375% in interest. The loan package is coupled with an annual percentage rate of 3.833%.
Mortgage loans, which are insured by the Federal Housing Administration (FHA), can also be found among Quicken Loans’ offerings. As of Tuesday, the 15-year fixed FHA mortgage is listed at 3.25%, a competitive rate compared to other lenders’ similar FHA loan packages. The corresponding APR figure is 4.23%.
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 advertises the 7/1 ARM home refinance loan at 3.375%, which comes with an APR sum of 3.325%.
U.S. Bank (NYSE:USB), which is headquartered in Minneapolis, offers home purchase and refinance loans for interested customers in the U.S. By browsing through the popular fixed home purchase loans, we can find the long-term 30-year FRM, which currently has an opening rate of 4.625% at this lender and carries an annual percentage rate of 4.690%. The shorter-term, 15-year fixed conventional home loan is up for grabs at 3.750%. The loan package is accompanied by an APR variable of 3.860%.
Borrowers who are looking to invest in a new or used home and considering to lock in a favorable FHA loan, should take a look at U.S. Bank’s 30-year fixed FHA mortgage, which carries 4.250% in interest and an APR of 4.750%. The shorter-term 15-year fixed FHA mortgage has an asking rate of 3.750% and has an APR figure of 4.312%.
With regards to the latest adjustable rate loans, the 5-year ARM home mortgage is advertised by U.S. Bank at a rate of 2.875% and an APR of 2.933% while the 3-year version of this deal comes with an interest rate of 2.500% and a corresponding APR of 2.850%.
Among U.S. Bank’s VA mortgage loan options, particularly the long-term 30-year fixed VA deal could be interesting for potential borrowers, as it bears a rate of 4.250% and has an annual percentage rate of 4.591%.
Regarding current Jumbo loan rates, the 30-year fixed Jumbo mortgage is up for grabs this Tuesday at 4.000%. The corresponding APR is set at 4.136%. The shorter, 15-year Jumbo can be secured at 3.625% and it bears an APR of 3.863%, according to the lender’s updated rate information.
Additional details on U.S. Bank’s and Quicken Loans’ latest mortgage interest rates, can be found on the lenders’ websites.