U.S. Bank, which is operated by U.S. Bancorp (NYSE:USB) is headquartered in Minneapolis. The lender provides loan options for home purchase and refinancing purposes. The mortgage interest rates supplied below assume that the borrower has strong credit standing. Bear in mind, that the mortgage interest rates below are valid for January 17, 2014.
The lender’s fixed rate home loan options include the standard 30-year FRM, which carries 4.625% in interest. The loan package is coupled with an annual percentage rate (APR) of 4.690%. The shorter-term, 15-year fixed conforming mortgage can be picked up at 3.625% and an APR variable of 3.734%.
Lower down payment is one of the condition that makes Federal Housing Administration (FHA)-insured mortgages as attractive options. At U.S. Bank the 30-year fixed rate FHA mortgage is up for grabs at a rate of 4.250% while the corresponding APR is set at 4.750%.
Besides FHA loans, qualified borrowers can choose from plenty of VA mortgage options. As of Friday, the standard 30-year fixed VA loan is listed at 4.250% and bears an annual percentage rate of 4.591%. The 15-year version of this type of mortgage is quoted at 3.625% and features 4.181% by way of APR.
With regards to current Jumbo loan rates, the 30-year fixed Jumbo mortgage has an opening rate of 4.000%. The corresponding APR is set at 4.136%, according to the lender’s updated data.
Borrowers, who need more flexibility in terms of interest rates may want to use the adjustable rate mortgage (ARM) options from U.S. 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.
As far as adjustable rate loans are concerned, the flexible 5-year ARM home mortgage is advertised by U.S. Bank at a rate of 3.000% and an APR of 2.977%, while the 3-year version of this loan has an interest rate of 2.625% and a corresponding APR of 2.878%.
Quicken Loans is also an established mortgage provider, which advertises a number of mortgage loans for interested customers. As far as current refinance mortgage rates are concerned, the benchmark 30-year FRM is available today at a rate of 4.375% and bears an APR sum of 4.632%. The lender’s shorter-term 15-year fixed mortgage is starting at 3.375% and it has an annual percentage rate of 3.814%.
Just like at U.S. Bank, interested borrowers can find a number of FHA loans on offer. On Friday, the 15-year fixed FHA mortgage is offered at 3.25%. The accompanying annual percentage rate is 4.172%.
The lender’s 7/1 adjustable rate mortgage is quoted at 3.375% and the package comes with an APR figure of 3.346%.
More information on U.S. Bank’s and Quicken Loans’ latest mortgage rates, as well as details on borrowing terms and conditions can be found on the lenders’ websites.