U.S. Bank, which is operated by U.S. Bancorp (NYSE:USB) is headquartered in Minneapolis. The company provides mortgage loan options for home purchase and refinancing purposes. The mortgage interest rates supplied below assume that the borrower has strong credit standing. The mortgage interest rates, updated for March 26, 2014 for U.S. Bank, are discussed below. Take note, that the annual percentage rate (APR) calculations were based on closing costs and discount points, and the contract interest rates are subject to change without prior notice.
As far as the long-termr fixed rate home loans are concerned, borrowers who take a visit to a local branch of U.S. Bank today, will see the standard 30-year conventional mortgage being traded at an interest rate of 4.500%. The loan’s annual percentage rate hovers at 4.564%. On Wednesday, the shorter-term, 15-year fixed home mortgage is coming out at 3.625%. The loan package is accompanied by an APR variable of 3.734%.
Moving on to FHA mortgage packages, which come with smaller down payment conditions compared to standard conventional loans, the 30-year fixed FHA loan has a daily low at 4.250%. As far as the annual percentage rate is concerned, it stands at 4.750%.
Shifting to U.S. Bank’s VA mortgage deals, the 30-year fixed VA loan could be interesting for certain borrowers, as it’s up for grabs at an interest cost equivalent to 4.250%. The APR, which shows the cost of the mortgage at an annual rate, stands at 4.591%.
U.S. Bank advertises jumbo loans as well, including the 30-year fixed jumbo mortgage package, which is published at a rate of 4.250% on Wednesday. The corresponding APR hovers at 4.313%. With regards to the 15-year version of the lender’s jumbo loan, it can be had at 4.000% and the loan is coupled with an annual percentage rate of 4.110%.
Potential 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.
Looking at the lender’s adjustable rate loans, the 5-year ARM home loan can be secured at a rate of 3.125% and an APR figure of 3.021% completes the package. As for the 3-year version of this type of loan, it start at 2.750%. The loan’s APR variable stands at 2.906%.
American lender, Quicken Loans is the biggest online retail mortgage provider in the country. The lender provides home refinance loans for qualified borrowers customers, among its other financial services.
At the Detroit-headquartered financial institution, the 30-year fixed home refinance mortgage loan is advertised today at a rate of 4.375% and the loan is coupled with an APR variable of 4.621%. The shorter-term 15-year fixed home refinance loan is quoted at 3.375% and carries 3.815% by way of annual percentage rate.
Federally backed mortgage loans can also be found among Quicken Loans’ options. According to the the most up-to-date mortgage information, the 15-year fixed FHA loan can be acquired at a rate of 3.25%. The loan’s APR is coming out at 4.192%.
At this mortgage provider, the 7/1 adjustable rate home refinance loan plans are starting at 3.25% interest. The corresponding APR is 3.297%, according to the lender’s data.
For additional details on U.S. Bank’s and Quicken Loans’ current mortgage interest rates, please see the lenders’ websites or contact the loan officers in charge.