KeyBank is a regional mortgage loan provider headquartered in Cleveland, Ohio and is managed by KeyCorp (NYSE: KEY), an American bank holding company.
KeyBank is a regional mortgage loan provider headquartered in Cleveland, Ohio and is managed by KeyCorp (NYSE: KEY), an American bank holding company. The lender provides home purchase loans for customers at the following interest rates, as of April 13, 2015.
Take note, 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 lender. Also, the loan to property value ratio must not exceed 80%.
The benchmark 30-year fixed conventional mortgage is listed at a rate of 3.750% on Monday, according to the latest data. The loan is coupled with an annual percentage rate (APR) of 3.807%. Individuals, who prefer the shorter-term, 15-year fixed home purchase loan, may be able to obtain it at a rate of 3.125% at this lender. The home loan’s APR hovers at 3.227%.
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.
Shifting over to KeyBank’s flexible home loan solutions, the 10/1 adjustable rate mortgage is quoted at a rate of 3.500% and it features 3.362% by way of annual percentage rate. Mortgage shoppers looking to secure the 7/1 version of this mortgage can expect to pay 3.250% interest cost, whilst the corresponding APR is coming out at 2.171%.
Borrowers, who are not eligible for standard conventional loans, may want to consider opting for non-conventional mortgages. Currently, the 30-year fixed FHA-insured mortgage loan is published at a rate of 3.625%, whilst the corresponding annual percentage rate is set at 3.748%. A shorter-term alternative is the 15-year fixed FHA home loan, which can be locked in at a rate of 3.375% and the APR is coming out at 3.557%.
Heading over to the VA loan arena, the 30-year fixed VA mortgage carries a rate of 3.625%, according to the updated loan information. This long-term, non-conventional home loan bears 3.745% by way of annual percentage rate. As far as the 15-year VA mortgage is concerned, the current mortgage rate is set at 3.000%. The aforementioned mortgage product now comes with an APR figure of 3.213%.
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.
Additional information on KeyBank’s current mortgage rates, as well as details on borrowing terms and conditions, can be found on the financial insitution’s website.