Mortgage Refinance at 4.50% FIXED - Act Now!
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* Fixed Rate: Mortgage Refinance Rates at 4.50% FIXED!
This advertised rate is for qualified borrowers for a 15-year fixed rate mortgage to refinance an owner-occupied, one-unit, single family dwelling for a loan of $165,000 to $417,000 ($165,000 to $625,500 in Alaska and Hawaii). The loan is based on a 20% down payment and 1.99 cumulative discount and origination points. The APR may be as low as 4.50% APR. MortgagesBestRates is not acting as a lender or broker. The information provided by you to MortgagesBestRates is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher, depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and other factors. Not available in all states. Not available for all credit types. Not all service providers in the MortgagesBestRates network offer this or other products with fix rate options.
* Variable Rate for qualified borrowers: $150,000, $200,000, $300,000 and $400,000 mortgage with payments as low as $594, $791, $1,186 and 1,582 per month. The rate is variable and subject to change. Credit restrictions may apply. The introductory rate above is for a loan with a 20% down payment based on the minimum rate that is fixed for 12 months. Even though the minimum payment is fixed for the first 12 months, the fully indexed interest rate will change after the first month. The fully indexed interest rate will thereafter be based on an index (in this case, the one month Monthly Treasury Average, or "MTA" index, which is currently at 3.019% as of 9/29/2005, plus a margin of 2.125 to 3.125%, with the index adjusting monthly. For example, if the loan funded had a margin of 2.625%, the interest rate for the first month would be at minimum rate but on the second and subsequent months, the rate is 5.734% (and an APR of 5.842%) based on the total of the index (assuming it had not changed from the first month) plus the margin. Since the payment is still based on minimum rate, it is possible that the accruing interest will exceed the minimum payment amount, resulting in negative amortization. The borrower may choose between paying the minimum payment, interest only payment or a fully amortized payment during the Option Arm period which can be as long as five years. At the end of each 12-month period, for the first five years, the payment can be adjusted up to 7.5% of the payment amount. The Option Arm period of 5 years and the payments for the remaining term of the loan are subject to terms and conditions as well as potential changes and limits contained in your loan contract, mortgage, or other agreement. You may not be matched with the lenders making this specific offer and some lenders may not offer this in certain states.