KeyBank, which is operated by a bank holding company KeyCorp (NYSE: KEY), provides mortgage loan options for home purchase and refinancing purposes.
KeyBank, which is operated by a bank holding company KeyCorp (NYSE: KEY), provides mortgage loan options for home purchase and refinancing purposes. The mortgage interest rates supplied below assume that the borrower has strong credit standing and is willing to pay 1.00% of the total loan amount in origination fees. The bank’s mortgage interest rates listed below are valid for March 24, 2015.
At this financial institution, 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%.
In case of long-term conventional home loans, the 30-year fixed mortgage is available today at a rate of 3.780% as of Tuesday. As far as the loan’s annual percentage rate (APR) is concerned, it’s coming out at 3.848%. Mortgage shoppers, who are seeking for a favorable 15-year home purchase loan, may want to take a look at KeyBank’s 15-year FRM, which can be picked up at a rate of 3.210% and carries an APR variable of 3.328%.
Customers, 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. KeyBank has a couple of ARM loan packages on offer.
In case of the best ARM options at this lender, the 10/1 adjustable rate loan is published at a rate of 3.660% and it bears 3.471% by way of APR. The 7/1 ARM alternative is quoted at a rate of 3.340% and the APR is coming out at 3.222%.
Mortgage shoppers, who have bad credit score and are not eligible for conventional loans or just simply prefer smaller down payment conditions, may want to consider the lender’s current FHA loan options. On Tuesday, the 30-year fixed FHA-backed loan is available at a rate of 3.875% and an APR variable of 3.968%. The shorter-term 15-year fixed FHA mortgage demands 3.375% in interest. The corresponding APR stands at 3.593%.
Furthermore, KeyBank provides VA mortgages as well, including the long-term, 30-year fixed VA loan, which is offered at a rate of 3.750% and comes with 3.871% by way of APR. In case of the 15-year version of this fixed VA loan, it’s published at a rate of 3.000%. The corresponding APR is set at 3.246% on this loan.
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 curren mortgage interest rates, as well as details on borrowing terms and conditions, can be found on the bank’s website.