U.S. lender, KeyBank is heaquartered in Cleveland, Ohio and is managed by KeyCorp (NYSE: KEY), a bank holding company.
U.S. lender, KeyBank is heaquartered in Cleveland, Ohio and is managed by KeyCorp (NYSE: KEY), a bank holding company. The lenders provides various conventional and non-conventional home loans for qualified mortgage shoppers. The latest mortgage rate information, updated for October 23, 2014 can be found below.
Bear in mind, that the home loan conditions demand that a borrower must have a strong credit score and pay origination fees amounting to 1.00% of the total loan value to the bank. Also, the loan to property value ratio must not exceed 80%.
Among KeyBank’s popular home loan offerings, we can mention the 30-year fixed rate loan product, which is currently published at a rate of 4.040%. The loan’s annual percentage rate (APR) stands at 4.109%. Borrowers, who are looking to secure a favorable 15-year fixed mortgage, may want to take a look at KeyBank’s 15-year FRM, as it’s coming out at a rate of 3.310%. This type of home loan comes with 3.427% by way of APR.
Mortgage shoppers, who need more flexibility in terms of interest rates may want to consider the bank’s adjustable rate mortgage (ARM) options. 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 flexible loan solutions, the 10/1 adjustable rate mortgage demands 3.500% in interest and it features 3.272% by way of annual percentage rate. Borrowers looking to obtain the 7/1 ARM alternative, will see the interest rate hovering at 3.170% on this type of loan. The loan’s annual percentage rate is published at 3.006%.
The list of the lender’s mortgage loans includes the long-term 30-year fixed Federal Housing Administration (FHA)-backed loan, which can be obtained at a rate of 3.750%, whilst the APR hovers at 3.862%. Looking at the 15-year fixed FHA home loan, it starts at a rate of 3.125% on Thursday. As far as the loan’s APR is concerned, it hovers at 3.358%.
Another type of federally insured mortgage loan is the 30-year VA loan. Currently, the aforementioned loan has an opening rate of 3.750% and it’s coupled with an APR of 3.859%. As far as the 15-year version of this fixed VA mortgage is concerned, it can be secured at a rate of 3.125%. The corresponding APR is published at 3.334%.
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.
Additional information on KeyBank’s current mortgage interest rates, as well as details on borrowing terms and conditions can be found on the bank’s website.