U.S. regional mortgage lender, KeyBank, is based in Cleveland, Ohio and is operated by KeyCorp (NYSE: KEY), a bank holding company.
U.S. regional mortgage lender, KeyBank, is based in Cleveland, Ohio and is operated by KeyCorp (NYSE: KEY), a bank holding company. The bank offers various type of mortgage loans for potential borrowers. The mortgage interest rates listed below are updated for March 2, 2015.
Bear in mind, that the bank’s 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 lender. Also, the loan to property value ratio must not exceed 80%.
On Monday, KeyBank is offering the standard 30-year fixed home purchase loan at a rate of 3.830%, according to the latest mortgage information. The loan is coupled with an annual percentage rate (APR) of 3.879%. Turning attention to the 15-year fixed mortgage, it’s on the books at a rate of 3.290% and it comes with an APR figure of 3.379%.
Borrowers, 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 market conditions.
At KeyBank the 10/1 adjustable rate mortgage is available on Monday at a rate of 3.580% and it’s accompanied by an APR variable of 3.355%. Borrowers, who opt for the 7/1 ARM alternative, will encounter a rate of 3.330%. This flexible home purchase loan comes with an annual percentage rate of 3.134%.
Furthermore, borrowers can find some non-conventional loan offerings as well at this lender, such as the 30-year fixed FHA mortgage. Currently, the aforementioned mortgage loan is quoted at a rate of 3.750% and it’s accompanied by and APR of 3.834%. The 15-year fixed FHA mortgage, on the other hand, can be obtained at a rate of 3.125%. The latest mortgage information also revealed that the loan’s APR hovers at 3.311%.
Some borrowers may prefer to take on other federally backed mortgages, such as VA loans, instead of the aforementioned FHA packages. At this lender, 30-year VA mortgage loan is quoted at a rate of 3.750% and the corresponding APR is set at 3.831%. Moving on to the shorter-term, 15-year VA mortgage, it starts at a rate of 3.000% and it features 3.128% by way of annual percentage rate.
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 APR calculations were made using closing costs and discount points, assuming that the borrower will conform to the loan conditions, including lock-in periods.
For more information on KeyBank’s current mortgage interest rates, as well as details on borrowing terms and conditions, please visit the lender’s website or contact a loan officer in charge.