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Mortgage Rates
Understanding mortgage rates and their indexes will allow you to make an educated choice when taking on a loan. Apply online to take advantage of low mortgage rates and contact up to four lenders about your new mortgage.
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Imperfect Credit
Bad credit is not insurmountable. Do not let it keep you from finding the home and mortgage of your dreams. Put your credit history behind you and apply online today to contact lenders about your mortgage.
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Home Construction Loans
Home construction loans are unique because they are often considered two loans, one for construction and one for permanent financing. However, a Construction-to-Permanent loan or a One-Time-Close loan combines the two, making the loan process simpler and less expensive for the borrower. Combining the construction financing and loan amount reduces the cost to the borrower by eliminating a second set of closing costs, as well as the requalifying process.
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Rates
There are several indexes on which interest rates are based:
- The Prime Rate is used by lenders for corporations and for their credit-worthy
applicants. It is very stable and tends not to differ from bank to bank. The
Prime Rate is used to predict the direction of rates, and the activity of
consumer loans often follows that of this index.
- U.S. Treasury Security Yields is an average of monthly rates during the
length of a one year U.S. Treasury security that is often used to set adjustable
rate mortgage and is published yearly by the Federal Reserve Board.
- The 11th District Cost of Funds is also used to set adjustable rate mortgages
and will often follow the same direction as the average of a one-year U.S.
Treasury security. Monthly, the 11th Federal Home Loan Bank District, which
includes California, Nevada and Arizona, publishes its weighted average interest
rate for the prior month.
- Federal Funds Rate is set by the Federal Open Market Committee and is the
interest rate on funds one bank lends to another overnight. This index affects
inflation and economic growth, and is decided on by the Federal Open Market
Committee.
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Mortgage Calc
Whether you want a loan to buy a new home or to refinance your current mortgage, a mortgage calc can help you decide what kind of loan is worthwhile and what cost you too much in the end. A mortgage calc can show you the difference a shorter term, a slightly lower rate, or an occasional extra payment can make on your loan and your finances. Use our mortgage calc to find out more or fill out our free short form to contact up to four lenders about finding a new mortgage or refinancing your existing loan.
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Mortgage Refiancing
"Cashing-out" allows you to:
- Invest in home improvement
- Pay for college tuition
- Buy a new car
- Fix credit by consolidating debt
Whether you want to find a loan interest rate or afford a brand new car, a mortgage refinancing company can help you reach your goals. Fill out our free short form to contact up to four lenders about refinancing your mortgage.
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Refinancing Your Home
Some homeowners are discouraged by the thought of paying new closing costs as a result of refinancing, but these costs can often be rolled over into the total amount of the loan, resulting in little or no out of pocket costs for the borrower.
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