Comparison of Current Mortgage Refinance Rates
4th April, 2011 - Posted by admin - No Comments
There are a lot of choices for mortgage refinance. Both banks and mortgage brokers can offer this type of loan, but the rates can vary a lot between providers. On a 30 year fixed rate mortgage loan of $300,000, the refinance rates may also be different than the purchase mortgage rates. There may be points and fees attached to the loans as well, but most homeowners are looking for mortgages with no closing costs.
However, sometimes borrowers prefer to pay the lender upfront points in exchange for a reduction in their interest rate. In comparing current mortgage rates available today, Americash Mortgage Banking offers a loan for 4.75% with no fees or points, and estimated payments of $1,565 on that $300,000 mortgage. Another popular loan broker is The Money Store, which offered a rate of 4.639% with $475 in fees but no points, and estimated payments of $1,542 a month. First National Bank offered an APR of 4.5% with estimated monthly payments of $1,450 and no points.
Posted on: April 4, 2011
Filed under: mortgage tips
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