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Archive for Mortgage

Get Low Mortgage Rates with Provident Credit Union

By BankAim · Comments (0)
Wednesday, February 1st, 2012

Mortgage rates are expected to remain low. This is due in part to the volatility of politics and economic factors. Forecast has it, rates will be steady at 4.00% to 4.30% Thus, keeping an eye out for high-interest deals is very important, as this can help you move your money wisely.

One lending institution that offers significantly lower interest Mortgage rates is Provident Credit Union. Currently, they provide an interest rate of 3.500% to 3.875%, and an APR of 3.699% to 3.910%. These variable rates depend on the type of discount you will incur.

About the Rates

Provident Credit Union has several mortgage schemes to offer. The most striking feature for each type is what they call the “hybrid” loan. It works like a combination of a fixed rate loan and an adjustable rate loan – all in one mortgage plan.

For example, you set yourself up for a three-year mortgage. In this regard, you are expected to pay the fixed interest. After this time period, you can then convert the mortgage plan into an adjustable rate, and earn a new APR and interest rate at that.

Why is this payment scheme better than the conventional? It is because the flexibility of being able to change into a different mortgage plan may help in saving you a lot of money. In other lending firms, once you choose a fixed interest rate, you are expected to pay the same APR until you fully pay the loan. ARM loan-types typically carry the risk of rising or falling along with the economy, so if you choose a pure ARM type loan, you have to take the risks that come along with it.

However, with this hybrid loan, you can have the chance to pay less. Let’s say after three or five years the mortgage economy will be at its peak. Then switching to the ARM type is really a good deal. However, if it has been continuously down in the money market dumps, you can still save your mortgage and continue to pay lesser-than-average rates at that time.

If you check their website, you can see that their rates are lower than the national average. You might also notice that there is a table for discounts. This determines the variability of your rates. In order to get lower rates, you must pay a certain amount of money upon your loan closing, upfront. Even if you get to pay a large amount of money at the closing, you will enjoy lower rates thereafter.

Even when predictions state that mortgages are facing a dim future this month,Provident Credit Union remains steadfast, and from the looks of their competitive rates, it clearly knows what it is doing.

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3.811% APR for 30-Year Fixed Mortgage from Crestline Funding

By BankAim · Comments (0)
Saturday, January 28th, 2012

Most people don’t really know the difference between credit unions and banks, when in reality, even the smallest credit unions can give the banks a run for their money. This is because credit unions tend not to focus on profit, but rather on service. This is also the reason why rates at credit unions can be lower than conventional banks when it comes to mortgage.

This is exactly the principle that Crestline Funding, like most credit unions, adhere to. According to the Credit Union Mortgage Association, today’s 30-year fixed mortgage rate is fixed at an average of 4.143%. But Crestline Funding offers even lower rates than that standard. At 3.811% APR, you can significantly save hundreds of dollars in the long run. Any deal is a great deal when you get to save, so if you’re thinking of doing repairs in your home early this year, or even buying a new one at that, you might as well grab the opportunity now.

Rates Comparison

Here is a list of how competitive Crestline Funding’s APR rates are in terms of the standard given by the Credit Union Mortgage association:

Credit Union Mortgage Association

30-year fixed - 4.143%
15 year fixed – 3.750%

Crestline Funding

30-year fixed - 3.811%
15 year fixed – 3.358%

As can be seen, you can get more value for your money because of the very low APRs. Plus, Crestline Funding offers 96.5% financing, so you won’t have to worry about shouldering more than you can pay for. These low-rates are possible all because they are a direct lending group. Unlike banks or other real estate agencies, Crestline Funding eliminates third parties, so you won’t have to pay for the middle men.

In order to apply for a loan, you can ask for a free quote on all you mortgage needs on their site. An application form is also given where they can assess your needs, depending on which type of loan you prefer, and on your credit history. If you’re not satisfied with that, they offer live assistance from their online agents where you can openly talk to them regarding your concerns. Doing the deal online provides an avenue for a more convenient and hassle-free way of negotiation.

The Crestline Funding group offers no cost loans upon closing a deal, nor do they assign points for each loan you make. They only offer interest loans, making sure you have no extra surcharges in end.

Aside from fixed loans, they also offer refinance loans, purchase loans, reverse mortgages, home equity loans, jumbo loans, VA and FHA loans.

As with other credit unions, you know your money is safe as you are insured very much like banks do.

With these low rates and great service offers, you wouldn’t have to think twice about buying that new house again.

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Conventional Home Loans Outshined by FHA Loans

By BankAim · Comments (0)
Sunday, January 22nd, 2012

The mortgage industry has been getting a few setbacks for the past few weeks. Mortgage rates has been getting higher and higher, with many rate discrepancies between lenders. This makes it hard for people to start planning their future, especially for those with a history of bad credit.

How FHA Loans differ

The Federal Housing Administration (FHA), offers one of the best mortgage rates and financial loans in the market today. This organization has aimed to cater to all the needs of potential buyers, by giving more lenient rules, as opposed to more traditional lending groups. The FHA will allow loans to be handed out to those with poor credit history, or those who have none at all.

Traditional financing looks into a person’s credit scoring, which looks into your credit background. Once you are deemed to be below their required credit score, you are automatically disqualified. But with FHA loans, none of this matters. They will only require you to write a reasonable explanation for the circumstances that led to your poor credit history. For cases of past bankruptcy, special cases are considered after their perusal.

Comparing Rates

Today, the lowest APR you can get for a 30-year fixed mortgage is around 3.250%. Many lending groups, such as Amerisave and Quicken Loans have and APR of 3.891% and 4.174% respectively. These are still relatively high interest rates.

The FHA only offers 3.75% APR. And because this is the interest rate for a fixed-price mortgage loan, you can be assured of some stability, no matter how unstable the real estate market becomes. For those who are seeking more liquidity, the AMR offers even lower interest rates. With this, you are only expected to give interest pays. This can significantly lower your monthly bills.

Once you get approved for a loan, you are expected to pay about 10% initial deposit of the sum amount. You must also ensure that the monthly cost of your housing will not go beyond 41% of your monthly income. This is a really great offer from the FHA since many other banks provide to be stricter with regards to these rules.

About FHA

Established in 1934, the FHA has been aiming to provide affordable housing loans to those who are underqualified from many conventional lending groups. Now, many people are realizing their dreams of purchasing their own houses. The FHA is the perfect solution in cases when a particular home buyer is unable to continue with the loan. In such cases, the FHA frees the lender from paying the insurance fund. So if you’re just starting out and thinking about buying your first house, you’ll never have to think twice again. Choose IHL Direct FHA Loans.

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Mortgage Future Looks Bright with Integrity First Financial Group

By BankAim · Comments (0)
Monday, January 16th, 2012

According to doomsday predictions, 2012 is the year when the world ends. This being said, any forms of man-influenced activities are doomed to go haywire. This includes the rise and fall of the economic market, as well as the liquidity of loans and investments.

However, the future is anything but bleak in Integrity First Financial Group. From the looks of it, their mortgage rates remain to be very competitive, and there is no way else for them to go but up.

How These Rates Compare

If you’re putting off buying your first house for next year, you might want to think again. The US Bank and CitiMortgage Group fixes their mortgage rates at 3.625% and 4.125%, and their APR at 3.820% and 4.275% respectively. These high rates seem to be trending along with Quicken Loans’ 4.625% rate and 4.897% APR. Here’s the sweet surprise – if you begin your mortgage with the Integrity First Financial Group, you can get a rate as low as 3.500%. Plus, the fixed mortgage rate for 30 years is set at only 3.63%. Sounds like a good offer, indeed.

Aside from these rates, the other loan plans are equally competitively low as well. Some are set at 15 year- or 10 year –fixed mortgage rates. For those who are planning on only 5-years worth of payment, they offer an AMR rate. This differs in the fixed rate in such a way that interest and APR prices depend on the market trend.

One thing to note however, is that the APR does not include all the closing fees, which may extend to appraisals, document preparation, and other paperwork.

About Integrity First

This California-based lending group has several branches all across the state. If you can’t find one in your area, don’t panic. You can always get a sample quote from their official website to help give you a clear picture of the desired amounts you want. Once you are satisfied with the results, the company can schedule a meeting with one of their agents to guide you through the process of agreement in a place that is most convenient for you. This company can offer closing of deals in as little time as possible – saving you from all the hassle of waiting.

The Integrity First Financial Group is an approved member of the FHA, or Federal Housing Administration, making it a steady and secure place for you to set your financial loans on.

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Lowest Mortgage Rates from Amerisave Fosters Hope in the Mortgage Rate Trend

By BankAim · Comments (0)
Friday, January 13th, 2012

Amerisave Lender offers unbelievably low mortgage rates, which stands to play a definitive role in this week’s mortgage rate trend.

Economists predict that there is a 47% possibility of these rates to either rise or remain unchanged. Some experts say that with the ongoing European crisis, many lending institutions are securing their payroll taxes. If this happens, the extended cost could be passed on to the buyers, resulting in higher mortgage rates.

However, some experts disagree. With the show of little volatility in trade, mortgage trends are predicted to remain the same. Only 6% think otherwise, choosing to be more optimistic and believing that the current fix of 3.250% will potentially go lower in the days to come.

Amerisave put on spotlight

With these predictions, no wonder Amerisave’s ultra low mortgage rates are trending. Starting from a loan of $417,000, you can get these rates as follows:

Rate APR
30-year fixed 3.250 3.469
15-year fixed 2.750 2.911

With an FHA loan, only differences to a decimal are worth noting:

Rate APR
30-year fixed 3.250 3.924
15-year fixed 2.750 3.058

For those who are seeking to ride along with the ups and downs of the market, the AMR rates for Amerisave are placed as:

7 year AMR 1.875 2.510
5 year AMR 1.375 2.396
3 year AMR 2.000 2.656

Overall, these rates fare better than most lending institutions or banks. New American Mortgage sets at 3.878% APR, while The Money Store places in at a close 3.669%.

If you’re planning on a new purchase, or refinance, doing so within this week’s timeframe may help you save a lot. Of course, this is in relation to economists’ prediction of the low chance of mortgage rates to go down any further. Unless you want to wait it out, securing your purchase now may be a good idea.

About Amerisave

Amerisave is among the largest and reputable mortgage lenders in the country. It offers services which range from funding, processing, closing, and underwriting at the best prices you can imagine.

Planning and making your transaction is easier when you apply for their online customer service center. With this, you can lock in your loans or purchases at anytime, and anywhere. You can download all related documents, while you wait for confirmation of agreement. Once it’s done, arrangements are smoothly facilitated so you can start choosing your new dream home.

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Nation’s Lowest Mortgage Rates Available From LenderFi

By BankAim · Comments (0)
Friday, December 30th, 2011

As they say, the year 2012 is the year of new things. It’s just not right to say that getting a new house is a good way to start the New Year, because in fact, it is the best way of starting new things in life; not just for yourself but also for your family. After all, you owe it to yourself for having several years of hard work and spending endless hours in the office. For every home dreamer, you’re just in time for LenderFi.com’s year ender bonus, because as of December 30, 2011 they offer one of the country’s lowest rate for a thirty-year fixed mortgage.

The Difference a Few Decimals Can Make

In the above-specified mortgage, LenderFi.com only applies an annual percentage rate of 3.612%. That’s several points lower than Quicken Loans 4.361%, which is one of the highest mortgage rates offered as of today. Even the second lowest mortgage rate offered by AimLoan which is 3.799%, still constitutes a huge difference in calculating the expected accrued mortgage interest rate every year.

Through a simple application, you can now purchase your very own home or refinance your current home regardless of what State you are currently in. Whatever the case may be, availing of LenderFi.com’s thirty-year fixed mortgage rate is still a win-win situation because their mortgage rates are designed to give more pro-clientele advantages rather than disadvantages.

Lenderfi.com’s Mortgage Rates

30 Year Fixed Rate to $417,000

Rate - APR
3.500 - 3.612
3.625 - 3.663

15 Year Fixed Rate to $417,000

Rate - APR
3.000 - 3.068

5/1 ARM to $417,000

Rate - APR
2.250 - 3.072
2.375 - 3.087
2.500 - 3.110

30 Year Fixed Rate to $625,500

Rate - APR
3.625 - 3.814
3.750 - 3.847
3.875 - 3.901

Application Procedures

With LenderFi.com’s lowest mortgage rate offer, you are assured to get your dream house without worrying so much about your financial expenses. Even the standard guidelines in purchasing a home will not be violated with this incredible mortgage rate. Just log on to their official website and complete their mortgage application forms in three easy steps:

• Step 1. Search a personalized mortgage rate;
• Step 2. Choose the loan that best suits your needs; and
• Step 3. Submit your application online or call their hotline numbers for further assistance.

BBB’s Accreditation

LenderFi.com is one of the few lending institutions which have been given an A+ accreditation by the Better Business Bureau. That way, you won’t have to worry about any uncertainties that often come up with scam transactions usually conducted by unreliable lenders. LenderFi doesn’t just commit, they apply themselves in order to give you the best services there is for the realization of your dreams.

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Ever Bank Gives Competitive 30 Yr Fixed Mortgage Rate at 3.964% APR

By BankAim · Comments (0)
Tuesday, December 27th, 2011

The New Year is almost upon us. In a couple of days we’ll be staring up to the sky witnessing the explosion of colorful fireworks, while reminiscing the good days this 2011. But with a New Year comes new things, and what better way to start the year than to buy that home you’ve been planning on for years.

If you feel that it’s time to purchase your first home, or relocate to a bigger house, then one of the things you must do is find a reliable mortgage provider with low interest rates. Thank your lucky stars, because Ever Bank is offering some pretty good rates for their mortgages. Below are some of their rates:

Ever Bank’s Mortgage Rates:

30 year Fixed – 3.974%
15 year Fixed – 3.421%
5/1 ARM – 3.248%

How These Rates Compare

One of the best ways to assess the competitiveness of a mortgage provider is by comparing their rates to the national average. As of today (December 27), the national average for 30 year fixed mortgage rates is at 4.12% which is higher than Ever Bank’s rates. Aside from that, the national average for 15 year fixed mortgage is at 3.77% which is again higher than Ever Bank’s rates. However, past data shows that on December 23, the rates were 3.91% and 3.21% for the 30 year FRM and 15 year FRM respectively.

Ever Bank’s rates are competitive today, and may continue to be so if the mortgage trend is going up. However, these rates are already good enough to lock into also considering the reputation of the bank who is offering it.

About Ever Bank

Ever Bank has origins back in the 1960′s and since then has been growing strong. Since 2002, the bank has demonstrated an asset climb of 500% over the decade and it continues to be one of the most financially secure banks in the country. The bank has been rated 4 stars by Bauer Financial.

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Pay Less On Closing Costs With Affinity Plus Credit Union

By BankAim · Comments (0)
Sunday, December 4th, 2011

Planning to purchase a home as your holiday gift to yourself and your family? You might want to consider getting a mortgage with Affinity Plus Credit Union. Their current rate for a 30 year fixed mortgage is at 4.195% APR which is a fair rate. Although there are other providers who can offer a lower interest rate, there are some perks which just might make you want to seal the deal with them.

Should you decide to get a mortgage with Affinity Plus, there are two options you can choose from to make the loan burden lesser for you. First, you can choose to have no closing costs but your APR will increase by 0.25%, or you can opt for a reduced closing cost of $1,499 and have no rate increase.

This offer is valid only for a first time mortgage and all loan products will be subject to approval.

Benefits of Taking a Mortgage and Refinancing With Affinity Plus

Affinity Plus Credit Union not only offers a reduction in your closing costs, but they also offer other services to make your loan application as easy as possible. They have a Preferred Realtor Program that will help you find the home that you need at a reduced cost. The Credit Union guarantees that you will certainly pay less in realtor fees. Home buying workshops are also available for the education of their borrowers, and of course, closing costs will not remain a mystery since the amount will be revealed to you from the very beginning.

Membership

The following individuals are eligible for membership with Affinity Plus Credit Union:

* employees and students of the state of Minnesota
* member of The University of Minnesota Alumni Association
* lives, works or worships in Roseville, Arden Hills, Mounds View, Shoreview, St. Anthony, New Brighton
* is a Minnesota Twins employee, or a family member of a Minnesota Twins employee
* or is a relative or housemate of any eligible person or current member

If you do not belong to any of these categories, you can also be a member by paying a one-time $25 fee to the Affinity Plus Foundation.

About Affinity Plus Credit Union

Affinity Plus Credit Union has its roots since 1930 and today it has over 126,000 members with assets of over $1 billion.

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Loan Depot Offers Bargain Mortgage Rates

By BankAim · Comments (0)
Saturday, November 12th, 2011

After the housing bubble burst in 2008, real estate prices have gone down considerably. This has caused many borrowers to end up paying more in their mortgage than what their house is really worth. This is why many borrowers are hoping to find easy refinancing schemes while new buyers are searching for lenders who can offer the most affordable rates. Right now Loan Depot is giving competitive rates for both refinance and new mortgages. For a $417,000 30-year fixed loan amount at 20% down payment, Loan Depot offers a rate of 3.893%. This is considerably lower than what other lenders are offering.

Loan Depot Mortgage Advantages

Loan Depot offers the typical 30 year fixed mortgage, but they also have 20 year, 15 year, and 10 year options. For those who are planning to own their home for the length of the term or more, fixed rate loans are one of the best to consider. What makes it even better with Loan Depot is that borrowers can put as little as 5% down payment, plus federally insured FHA fixed rate loan programs are also available for as little as 3% down payment.

Finding out if you qualify for a loan is made easy with their online Quote option. All you have to do is fill in your loan purpose, how much you would like to borrow, the purchase price of the home, and the state in which your home is located. You can also choose to call Loan Depot at their hotline number provided.

About Loan Depot

The company has been in business for over twenty five years. Loan Depot meets the accreditation standards of the BBB (Better Business Bureau), and BBB’s site also showed that Loan Depot was able to close the complaints filed with the BBB.

Tools available in Loan Depot that can help borrowers are their interactive mortgage calculators, as well as a series of videos that attempt to educate anyone in the process of getting a loan.

Consumer reviews offers varying feedback, some praise Loan Depot for fast and efficient service plus low rates, while others have their complaints somewhere along the loan process. The BBB however shows that Loan Depot was adequately able to close consumer complaints, meaning that the institution is a legitimate business that is mindful of their consumers needs.

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American Interbanc Offers Competitive Mortgage Rates

By BankAim · Comments (0)
Tuesday, November 1st, 2011

American Interbank.com is currently offering some of the most competitive mortgage rates today. With a 30 year fixed mortgage set at a loan amount of $417,000, the lender is offering a rate as low as 3.994%. This rate is considerably lower than other lenders, other rates are 4.04% from Aimloan.com, and 4.032% from Loan Depot. The lender has consistently shown lower rates when the loan amount was varied, making it a great choice for those who are looking for some financial assistance.

About American Interbanc

American Interbanc is considered to be an “A” paper lender, and they pride themselves in not taking advantage of those who have poor credit scores while putting them in unfavorable mortgage terms. Their rates are in a “what you see is what you get” basis, meaning the rates are not open for negotiation. Whatever their posted rates, shall be what the borrowers can lock in.

Why American Interbanc is Cheaper

There are several advantages that American Interbanc has to offer which is precisely the reason why they can market lower rates. First of all, American Interbanc is the lender itself and not a mortgage broker, reducing fees and giving an economic advantage that mortgage brokers cannot overcome. Secondly, it is an internet exclusive mortgage banker, thus having lesser overhead cost as compared to brick and mortar lenders. These two advantages easily allows American Interbanc to give back to their consumers in the form of competitive rates.

Credibility

American Interbanc is currently in good standing with the BBB, or Better Business Bureau. Within the last three years, the business has only received 7 consumer complaints all of which has already been closed. American Interbanc also received the award of “Most Honest Lender” by Americas Watchdog.

Other Services

American Interbanc offers 24 hour online applications and a detailed breakdown of loan charges down to the last penny. The application and loan process is all done online. They also provide a help and advice hotline with a toll free number.

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