KeyBank is a regional loan provider in the U.S., which is operated by a bank holding company, KeyCorp (NYSE: KEY).
KeyBank is a regional loan provider in the U.S., which is operated by a bank holding company, KeyCorp (NYSE: KEY). The lender advertises mortgage loans for those who are interested in home purchase or refinancing. The updated mortgage interest rates, which are valid for October 30, 2014 are listed below.
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 lender. Also, the loan to property value ratio must not exceed 80%.
The lender’s updated mortgage information revealed, that the benchmark, 30-year fixed home loan is currently listed at a rate of 4.090% and it carries an annual percentage rate (APR) of 4.166%. Borrowers, who think the 15-year conventional home loan is a more suitable choice, can expect to pay 3.400% in interest, whilst the corresponding APR looks firm at 3.528%.
Mortgage shoppers, who need more flexibility in terms of interest rates may want to use the adjustable rate mortgage (ARM) options from the lender. 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 3.590% in interest and it features 3.333% by way of annual percentage rate. Borrowers looking to obtain the 7/1 ARM alternative, will see the interest rate hovering at 3.250% on this type of loan. The loan’s annual percentage rate is published at 3.048%.
Borrowers seeking for a favorable FHA-insured loan, may want to consider the 30-year fixed FHA mortgage at this financial instution, as it has a daily low rate of 3.875%, whilst the APR is coming out at 3.974%. A shorter-term alternative is the 15-year FHA mortgage, which can be locked in at a rate of 3.375%. The loan’s annual percentage rate hovers at 3.546%, the lender’s mortgage information showed.
Another type of federally insured mortgage loan is the 30-year VA loan. Currently, the aforementioned loan has an opening rate of 3.875% and it’s coupled with an APR of 3.971%. As far as the 15-year version of this fixed VA mortgage is concerned, it can be secured at a rate of 3.375%. The corresponding APR is published at 3.541%.
The interest rate quotes given are liable to change without notice and can vary when the loan is approved or the funds are disbursed. The annual percentage rate 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 lender’s website.