U.S. Bank, which is operated by U.S. Bancorp (NYSE:USB), provides some loan options for home purchasing and refinancing purposes. The mortgage interest rates supplied below assume that the borrower has strong credit standing.
Among the popular fixed loans, we can mention the long-term 30-year FRM, which has an opening rate of 4.625% at this lender and carries an APR of 4.690%. The shorter, 15-year fixed conforming home loan is available at a rate of 3.625% and an APR figure of 3.734% as of Tuesday, July 23.
Mortgage shoppers will find a couple of Federal Housing Administration (FHA)-backed mortgage loans at U.S Bank. Currently, the 30-year fixed FHA loan is available at 4.375% and the package comes with an APR of 4.879%.
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 carries a rate of 4.375% and has an annual percentage rate of 4.879%.
With regards to current Jumbo loan rates, the 30-year fixed Jumbo mortgage is coming out at 4.250%. The corresponding APR is set at 4.399%, according to the lender’s rate information.
More flexible loan options are also available at this lender in the form of adjustable rate mortgages (ARMs). On Tuesday, the 5-year ARM home mortgage is offered by U.S. Bank at a rate of 2.875% and an APR of 3.259% while the 3-year version of this deal comes with an interest rate of 2.375% and a corresponding APR of 3.210%.
Over at Quicken Loans, the 30-year fixed home refinance mortgage loan is on the books at 4.25% and an effective annual percentage rate (APR) of 4.461%. The shorter-term 15-year fixed home refinance loan is offered at 3.375% and it comes with 3.739% by way of APR.
Mortgage loans, which are backed by the FHA, can also be found among Quicken Loans’ offerings. Today, the 15-year fixed FHA mortgage is listed at 3.375%, a competitive rate compared to other lenders’ similar FHA loan deals. The package comes with an APR figure of 4.434%.
For those who are looking for more flexible mortgage loans, the 7/1 ARM could be a suitable option. This type of mortgage package starts at 3.125% and carries an APR variable of 3.306%.
Please, check the lenders’ websites for more additional information on the latest mortgage rates and borrowing terms and conditions.