The Lowest Rates for 30 Year Fixed Mortgages

With 30 year mortgage rates going as high as 5.2%, homeowners wonder, is there anywhere else we can get a lower rate?

Browsing through several banks and lenders, you wouldn’t be surprised to see the rate somewhere between 4.8 to 5.2%. However, there are some banks and lenders that can give you the lowest mortgage rate amongst all. With a 4.750% interest rate on a 30 year fixed rate mortgage, homeowners can give a sigh of relief. Some of the institutions that can give you these rates are:

1. Ever Bank – Ever Bank, located in Jacksonville, Florida, gives you a 4.750% mortgage rate on properties located in Jacksonville and within Duval County. For added spice, Ever Bank is giving out a promotion of having as much as $500 off in closing costs. Ever Bank also gives out the lowest APR with 4.784%. Fees in APR is $647, and the estimated payment is $861.

2. Freedom Mortgage – Also with a 4.750% interest rate, Freedom Mortgage a low APR with 4.802%. Fees in APR is $995, and the estimated payment is the same as Ever Bank at $861.

3. Aimloan.com – Interest rates are at 4.750% for a 30 year fixed rate mortgage, and APR is at 4.856%. The fees in APR are substantially bigger than the others, with fees at $1,995. Estimated payment at $861.

4. Directors Financial Group – Interest rates remain at 4.750%, with APR at 4.845%, the highest APR compared to the rest of the institutions who give the same interest rate. Fees in APR is $1,795, and estimated payment is $861.

5. Mortgage Capital Associates – located in West Los Angeles California, Mortgage Capital Associates gives you a 4.750% interest rate, with the lowest APR in the same rate. There are no fees in APR, and the estimated payment is $861. By far, this institution gives you the best deal in rates and fees.

When looking for a loan to cover the expenses on buying a home, it’s important to consider the interest rate. A difference of .1 could mean a difference in hundreds or thousands of dollars out of your pocket. Fixed rate mortgages may seem like they have a higher interest rate, but they lack the risk which adjustable rate mortgages pose in case the national rates go up.

Also, when shopping for a mortgage, it’s best to check the fine print of the bank or the financial institution you plan to get a loan from. Hidden fees and charges could prove to be heavy, and make sure to deal with a stable institution with great terms and perhaps flexibility. Using a mortgage calculator will also help you in seeing just how much you’re going to pay in the end.

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