A COMPARISON OF INTEREST RATES ON MORTGAGES IN LAREDO
Are you planning on moving to Laredo or are you searching for your dream home in Laredo? You intend to acquire a home loan to finance your journey of living in Laredo? While carrying out that search, one key thing that you are focusing on is getting a home loan with the most affordable interest rates. Interest rates on home loans in Laredo are determined by various factors which are worthwhile considering before finally settling on a specific loan. These factors include credit scores, location of your home, the price of your home and the loan amount, down payment, the term of the loan, the loan type and the interest rate type ( fixed or adjustable). Understanding the process of determining interest rates on home loans will not only help you in your search for appropriate interest rates on home loan interest rates in Laredo but also will ensure that you are well equipped with information.
This article is designed to help you learn about the different interest rates and Annual Percentage Rate (APR) on different home loans available in Laredo. Below is a current review of interest rates on interest rates on home loans in Laredo.
Government Loans
Government home loan programs available in Laredo are the FHA and the VA loans. They are both available in long terms of fixed 30-year and 15-year terms. The fixed 30-year FHA is available at 2.94% and an Annual Percentage Rate (APR) of 3.70% while the 15-year FHA is available at a 3.09% rate and 3.79% APR. The 15-year VA is available at 3.23% rate and 3.56% APR. On the other hand, the 30-year VA is available at 3.19% rate and 3.41% APR.
Conforming loans
The conforming loans are also available in Laredo, Texas. The conforming loans are available in both fixed and adjustable terms hence creating a number of loan programs. The fixed home loan programs are available in 30, 15, 20, 15 and 10-year terms. The fixed 30-year is available at 3.75% rate and 3.81% APR. The 20-year home loan is available at 3.59% rate and 3.67% APR. The 15-year home loan is available at 3.27% rate and 3.39% APR while the 10-year is available at 3.23% and 3.38% rate and APR respectively. The adjustable home loans are available as 7/1, 5/1 and 3/1 ARM’s. While the 7/1 is offered at 3.78% rate and 4.13% APR, the 5/1 is available at 3.81% rate and 4.20% APR. The 3/1 on the other hand is available at 3.88% and 4.18% APR.
Jumbo Loans
Jumbo loans are available in both fixed and adjustable terms. The fixed jumbo loans are available in 30-year term which is offered at 4.09% rate and 4.17% APR and 15-year term which offers 3.98% rate and 4.11% APR. The adjustable jumbo loans are on the other hand available in 7/1 ARM which is offered with a 3.43% rate and 3.95% APR, 5/1 ARM at 3.53% rate and 4.10% APR and 3/1 ARM at 3.31% rate and 4.27% APR.
Compare these rate and find out which is the most appropriate interest rate to work with in your journey of living in Laredo.
Are you planning on moving to Laredo or are you searching for your dream home in Laredo? You intend to acquire a home loan to finance your journey of living in Laredo? While carrying out that search, one key thing that you are focusing on is getting a home loan with the most affordable interest rates. Interest rates on home loans in Laredo are determined by various factors which are worthwhile considering before finally settling on a specific loan. These factors include credit scores, location of your home, the price of your home and the loan amount, down payment, the term of the loan, the loan type and the interest rate type ( fixed or adjustable). Understanding the process of determining interest rates on home loans will not only help you in your search for appropriate interest rates on home loan interest rates in Laredo but also will ensure that you are well equipped with information.
This article is designed to help you learn about the different interest rates and Annual Percentage Rate (APR) on different home loans available in Laredo. Below is a current review of interest rates on interest rates on home loans in Laredo.
Government Loans
Government home loan programs available in Laredo are the FHA and the VA loans. They are both available in long terms of fixed 30-year and 15-year terms. The fixed 30-year FHA is available at 2.94% and an Annual Percentage Rate (APR) of 3.70% while the 15-year FHA is available at a 3.09% rate and 3.79% APR. The 15-year VA is available at 3.23% rate and 3.56% APR. On the other hand, the 30-year VA is available at 3.19% rate and 3.41% APR.
Conforming loans
The conforming loans are also available in Laredo, Texas. The conforming loans are available in both fixed and adjustable terms hence creating a number of loan programs. The fixed home loan programs are available in 30, 15, 20, 15 and 10-year terms. The fixed 30-year is available at 3.75% rate and 3.81% APR. The 20-year home loan is available at 3.59% rate and 3.67% APR. The 15-year home loan is available at 3.27% rate and 3.39% APR while the 10-year is available at 3.23% and 3.38% rate and APR respectively. The adjustable home loans are available as 7/1, 5/1 and 3/1 ARM’s. While the 7/1 is offered at 3.78% rate and 4.13% APR, the 5/1 is available at 3.81% rate and 4.20% APR. The 3/1 on the other hand is available at 3.88% and 4.18% APR.
Jumbo Loans
Jumbo loans are available in both fixed and adjustable terms. The fixed jumbo loans are available in 30-year term which is offered at 4.09% rate and 4.17% APR and 15-year term which offers 3.98% rate and 4.11% APR. The adjustable jumbo loans are on the other hand available in 7/1 ARM which is offered with a 3.43% rate and 3.95% APR, 5/1 ARM at 3.53% rate and 4.10% APR and 3/1 ARM at 3.31% rate and 4.27% APR.
Compare these rate and find out which is the most appropriate interest rate to work with in your journey of living in Laredo.
