U.S. Bank, which is a major mortgage loan provider is operated by U.S. Bancorp (NYSE:USB). The financial institution, which is headquartered in Minneapolis, provides loan options for home purchase and refinancing purposes. The mortgage interest rates supplied below assume that the borrower has strong credit standing. The lender’s latest mortgage rates are updated for March 16, 2014.
As far as the bank’s long-term fixed home purchase loans are concerned, the 30-year FRM is offered at a rate of 4.375% and carries an annual percentage rate of 4.439%. The shorter-term, 15-year fixed conventional home loan is up for grabs at 3.500% and an APR variable of 3.609% completes the package.
Customers who are looking to invest in a new or used home and considering to lock in a favorable Federal Housing Administration (FHA)-backed mortgage, should take a look at the Minneapolis-based bank’s 30-year fixed FHA loan. This loan has a starting rate of 4.125% and carries 4.618% by way of APR. Those favoring the shorter-term, 15-year fixed FHA loan, will see it being offered at a rate of 3.375% on Sunday and the package also bears an APR of 3.928%.
With regards to U.S. Bank’s VA mortgage loan packages, the 30-year fixed VA loan is quoted at 4.125%, according to the lender’s data. The loan package carries an annual percentage rate of 4.463%. The 15-year version of this type of mortgage is on the books at 3.500% and carries 4.085% by way of APR.
U.S. Bank advertises some jumbo loans as well, including the 30-year fixed jumbo mortgage package, which can be obtained at a rate of 4.125%. The corresponding APR hovers at 4.188%. With regards to the 15-year version of the lender’s jumbo loan, it can be had at 3.875% and the loan is coupled with an annual percentage rate of 3.985%.
Individuals, 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 market conditions.
Turning focus to the latest adjustable rate loan offerings, the 5-year ARM home mortgage is offered by U.S. Bank at a rate of 3.000% and an APR of 2.977% while the 3-year version of this deal comes with an interest rate of 2.625% and a corresponding APR of 2.878%.
Quicken Loans is also an established mortgage provider, which is headquartered in Detroit. The lender offers various loans for potential customers. Under Quicken Loans’ refinance loan program, the 30-year fixed rate home refinance mortgage can be secured at a rate of 4.25%, whilst the APR stands at 4.494% as of Sunday. The shorter-term 15-year fixed rate home refinance loan is published at 3.25% and a corresponding 3.707% APR rounds out the deal.
FHA-backed loan solutions are also available at this lender. Quicken Loans’ 15-year fixed FHA mortgage is up for grabs at a rate of 3.25%. The loan is accompanied by an APR variable of 4.078%.
Quicken Loans also provides more flexible refinancing options, including the 7/1 ARM, which has an opening rate of 3.125%. The flexible mortgage package is coupled with an annual percentage rate of 3.169%.
For additional details on U.S. Bank’s and Quicken Loans’ current mortgage interest rates, please take a look at the lenders’ websites or contact the loan officers in charge.