U.S. Bank is operated by U.S. Bancorp (NYSE:USB) and it provides various mortgage loan options for home purchase and refinancing purposes. U.S. Bank’s mortgage rates, updated for October 7, 2014, 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 long-term home purchase loans are concerned, the 30-year fixed rate mortgage carries 4.250% in interest and it comes with an annual percentage rate of 4.323% on Tuesday. With regards to the 15-year FRM, it’s offered at a rate of 3.500%. The APR hovers at 3.625%, according to the latest data.
Mortgages that are backed by the Federal Housing Administration (FHA) are also available at this financial institution. On Tuesday, the standard 30-year fixed FHA loan carries a rate of 4.000% and the loan is coupled with an annual percentage rate of 5.559%. The 15-year version of this type of loan is quoted at 3.375% and the package contains 4.443% by way of APR.
Turning attention to VA loan offerings, the long-term 30-year VA mortgage is offered at 4.000%. The corresponding APR stands at 4.343% at this loan provider.
Looking at current jumbo loan rates, the 30-year fixed jumbo mortgage is coming out today at 4.250%. The corresponding APR is 4.323%. The shorter, 15-year jumbo can be secured at 4.000%. The loan package is coupled with an APR sum of 4.127%, according to the bank’s latest rate information.
Regarding the bank’s adjustable rate loans, the 5-year ARM home mortgage may pique some interest from borrowers, as it can be locked in at 3.000% and an APR figure is coming out at 2.986%. Another option is the 3-year version of this type of loan, which is available at a rate of 2.875%. The APR, which shows the interest and additional costs of the loan at a yearly rate, is set at 2.942%.
U.S. financial institution, Quicken Loans is the largest online retail mortgage provider in the United States. The mortgage provider advertises home refinance loans besides its other financial services, at the following mortgage rates as of Tuesday. At this mortgage provider the 30-year fixed rate home refinance loan is up for grabs at a rate of 4.125% and an APR figure of 4.356%. The shorter-term 15-year fixed rate home refinance loan can be acquired at a rate of 3.25% and the package comes with an APR of 3.707%.
Refinancing an existing loan with Quicken Loans 15-year fixed FHA mortgage is also a possibility and today this type of loan package is advertised at a rate of 2.99%. Individuals, who are looking to obtain this loan, will see the APR coming out at 4.004%.
Looking at ARM refinance offerings, the 7/1 adjustable rate loan is quoted at 3.375%, which is coupled with an annual percentage rate of 3.305%.
Further details on the lenders’ current mortgage rates and APRs, as well as information on borrowing terms and conditions can be found on the their websites.