KeyBank is a regional mortgage loan provider based in Cleveland, Ohio and is managed by KeyCorp (NYSE: KEY), an American bank holding company.
KeyBank is a regional mortgage loan provider based in Cleveland, Ohio and is managed by KeyCorp (NYSE: KEY), an American bank holding company. The lender offers numberous home loans for customers at the following interest rates as of November 6, 2014.
At this lender, the home loan conditions demand that a borrower must have a strong credit score and to pay origination fees amounting to 1.00% of the total loan value to the bank. Moreover, the loan to property value ratio must not exceed 80%.
Under its home loan program, KeyBank advertises the 30-year fixed conventional mortgage at a rate of 4.125% on Thursday and this loan is coupled with an annual percentage rate (APR) of 4.177%. Individuals, who lean toward the 15-year fixed home purchase loan, can expect to pay 3.420% interest cost. The loan’s APR is coming out at 3.512%, according to today’s updated rate information.
Customers, who need more flexibility in terms of interest rates may want to use the adjustable rate mortgage (ARM) options KeyBank. 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. The financial institution has a number of flexible ARMs in its loan portfolio.
Moving on to the latest ARM quotes, the 10/1 adjustable rate mortgage is offered at a rate of 3.660% and the loan package carries an APR figure of 3.358%. Those preferring the 7-year ARM, will see it being traded at a rate of 3.260%. This type of mortgage loan carries an APR of 3.045%.
Furthermore, borrowers can find a couple of non-conventional loan options at KeyBank. One of them is the 30-year fixed FHA mortgage, which is quoted at a rate of 3.875%, whilst the corresponding APR stands at 3.962%. Shifting to the shorter-term, 15-year fixed FHA mortgage, it carries a rate of 3.375% on Thursday. The loan package features 3.511% by way of annual percentage rate.
Others, who are eligible for VA mortgages, will see the 30-year fixed VA loan coming out at 3.875% at this finacial institution on Thursday. The loan package has an APR figure of 3.969%. The 15-year VA loan is presently quoted at a rate of 3.250%. This type of mortgage loan comes with 3.436% by way of APR.
The mortgage interest rate quotes given are liable to change without notice and can vary when the loan is approved or the funds are disbursed. The APR calculations were made using closing costs and discount points, assuming that the borrower will conform to the loan conditions, including lock-in periods.
More information on KeyBank’s current mortgage interest rates, as well as details on borrowing terms and conditions can be found on the financial institution’s website.