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mortgage loan programs available in: Alabama, Alaska, California, Colorado, Florida, Montana, Indiana, Louisiana, Maryland, Minnesota, Mississippi, Missouri, New Mexico, North Carolina, North Dakota, Pennsylvania, South Carolina, South Dakota, Tennessee and Texas |
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FHA home loans: | FHA home buyer | streamline refinance | mobile home loans | reverse mortgage |  |
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mortgage loans: | home purchase | Mortgage Refinance | home equity loans | jumbo mortgage |  |
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FHA loans » Mortgage Rates » Conventional Mortgage Rates |  |
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Current Mortgage RatesToday's conforming Fannie Mae & Freddie Mac conventional mortgage interest rates explained.
Don't be fooled! When a mortgage website is posting today's current mortgage rates for conventional conforming loan products, these extra low teaser rates are usually based upon lending conditions that most consumers just don't meet. In many instances, consumers will have to pay significant points to buy down the mortgage interest rate to the levels they're seeing on the "Today's Rates" page of other websites. The reality is, when you see a conventional mortgage rate posted, brokers and lenders are displaying their lowest and best available rate for "premium borrowers" from across multiple rate sheets. The conditions for this interest rate usually mean you must have at least a 720 FICO score, be financing a single family home, have low debt ratios, and your loan-to-value must be less than 80%, or sometimes even less than 70%, to qualify for the advertised mortgage interest rate. Compounding the problem is that mortgage rates change every day, so the low interest rate you see today may not be available tomorrow. We consider this approach to doing business questionable at best, and unethical at worst. Using teaser mortgage interest rates to start a relationship is not how we do business -- and we just don't believe you want to do business with someone you can't trust right out of the gate. Our mortgage originators offer very competitive mortgage rates, with the ability to offer the same rates as virtually any mortgage broker, lender, or banker on the web. To get a much more accurate mortgage rate quote on a conventional 30 year fixed rate mortgage, adjustable rate (ARM) loan, interest only, or other product, just complete this form.
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