American financial institution, Quicken Loans is the biggest online retail mortgage loan provider in the United States. The financial institution provides home refinance loans to borrowers, among its other financial services.
Looking at current refinance rates at this lender, the 30-year mortgage loan is quoted at a rate of 4.375% on Tuesday, March 4. The corresponding annual percentage rate (APR), which shows the interest and others costs of the mortgage at a yearly rate, is listed at 4.61%. Those favoring the shorter-term, 15-year fixed refinance loan, can expect to pay 3.375% in interest cost. The loan’s APR stands at 3.739%, today’s interest rate information showed.
Mortgage shoppers, 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 market conditions.
Refinancing an existing loan with Quicken Loans 15-year fixed FHA mortgage is also a possibility and on Tuesday this type of loan package is advertised at a rate of 3.25%. Individuals, who are looking to obtain this loan, will see the APR coming out at 4.097%.
Switching to Quicken Loans’ adjustable rate loan offerings, the 7/1 ARM, which can be used for mortgage refinancing, is offered at a rate of 3.25% and it’s accompanied by an APR variable of 3.198%.
U.S. Bank is operated by U.S. Bancorp (NYSE:USB) and it’s an established loan provider headquartered in Minneapolis. The company provides some loan options for home purchase and refinancing purposes. The mortgage interest rates supplied below – except federally backed loans – assume that the borrower has strong credit standing.
First, looking at standard home purchase loans, the standard 30-year FRM is published at a rate of 4.375% at this financial institution and the package carries an APR of 4.439%. The shorter-term, 15-year fixed conventional home loan is listed at 3.500%. The loan package is coupled with an APR figure of 3.609%.
Borrowers, who are looking to invest in a new or used home and considering to secure a favorable FHA loan, should take a look at U.S. Bank’s 30-year fixed FHA mortgage, which starts at 4.125%, whilst the APR is quoted at 4.618%. The 15-year version of the federally backed FHA loan is up for grabs at a rate of 3.375% and the package contains an annual percentage rate of 4.928%.
With regards to other non-conventional loan options, the 30-year VA mortgage is advertised by U.S. Bank at a rate of 4.125% on Tuesday. The corresponding APR is coming out at 4.463% at this lender.
Mortgages which exceed conforming loan limits can also be found at this bank. Currently, the 30-year fixed jumbo mortgage is published at a rate of 4.125%. The loan’s APR is listed at 4.188%. The shorter, 15-year jumbo loan is available at a rate of 3.875% and it carries an APR variable of 3.985%, according to U.S. Bank’s rate information.
Moving on to the lender’s adjustable rate loans, the 5-year ARM home loan can be acquired this Tuesday at a rate of 3.000% and an APR figure of 2.977% completes the package. As for the 3-year version of this type of loan, it demands 2.500% in interest. The corresponding APR is set at 2.850%.
For more information on these lenders’ current mortgage interest rates, please check out their websites or contact the loan officers in charge.