U.S. Bank is operated by U.S. Bancorp (NYSE:USB) and it provides various mortgage loan options for home purchase and refinancing purposes.
U.S. Bank is operated by U.S. Bancorp (NYSE:USB) and it provides various mortgage loan options for home purchase and refinancing purposes. U.S. Bank’s mortgage rates, updated for September 19, 2014, are discussed below. Take note, that the annual percentage rate (APR) calculations were based on closing costs and discount points, and the contract interest rates are subject to change without prior notice.
Among the bank’s standard 30-year and 15-year home loans, the former one can be locked in at a rate of 4.375% as of Friday. The loan also carries an annual percentage rate of 4.448%. The 15-year conventional home purchase loan starts at 3.625% and it comes with an APR variable of 3.751%, the updated mortgage data revealed.
Loans that are backed by the Federal Housing Administration (FHA) are also offered by this bank. Currently, the long-term 30-year fixed FHA mortgage has a daily low at 4.125% and the loan is accompanied by an APR variable of 5.685%.
VA mortgage loans can also be found at U.S. Bank, with the 30-year fixed VA mortgage now coming out at 4.250%. This type of mortgage bears an annual percentage rate of 4.598%.
Among non-conforming loans, interested borrowers can find the 30-year fixed jumbo mortgage, which is on the books at 4.500%. The corresponding APR is listed at 4.574%. The shorter, 15-year jumbo package is advertised at a rate of 4.125% and it bears an APR of 4.252%, according to U.S. Bank’s most up-to-date rate information.
The 5-year ARM, which is a more flexible mortgage in terms of interest rate compared to fixed conforming loans, is quoted at a rate of 3.000% and an APR of 2.986%, while the 3-year version of this loan starts at 2.875% and bears an APR of 2.942%.
Another U.S. lender, Quicken Loans, is the largest online retail mortgage provider in the United States. The financial institution advertises refinance mortgage loans for interested customers, among its other financial services. The lender’s most up-to-date mortgage rate information showed, that the 30-year fixed rate refinance loan is now coming out at a rate of 4.25% and an APR variable of 4.505% completes the package. The shorter-term 15-year fixed loan, with a conforming loan balance, is up for grabs at 3.375%. The mortgage loan is coupled with an APR figure of 3.833%.
Federal Housing Administration-backed loans are also offered by Quicken Loans. On Friday, the 15-year fixed FHA mortgage is carrying a rate of 3.125%. The loan is coupled with an APR figure of 4.179%.
At this loan provider the 7/1 adjustable rate mortgage may fit some borrowers needs, as it’s published at a rate of 3.50% and has an annual percentage rate of 3.395%.
For further details on U.S. Bank’s and Quicken Loans’ latest mortgage interest rates, please take a visit to the lenders’ websites or contact the loan officers in charge.