Fifth Third Bank 30 Year Mortgage Rate 4.625% APR

Fifth Third Bank is offering a 30-year mortgage with an annual percentage rate (APR) of 4.625 percent and an annual percentage yield of (APY) 4.714 percent.

The quote we received for this rate was a 30 year conforming loan of $400,000 with .75 points (discount points) with a 20 percent down payment in the Miami Florida area. Rates will vary depending on the dollar amount of the loan, your credit score and the state you live in.

We also received the the following mortgage quotes based on a mortgage of $400,000 in the Chicago Illinois area.

Fixed 30 Year
RatePointsAPRMonthsPayment
4.625%0.7504.710%1-360$2,056.56
4.750%0.3754.802%1-360$2,086.59
4.875%0.0004.895%1-360$2,116.83
Fixed 15 Year
RatePointsAPRMonthsPayment
4.500%0.7504.647%1-180$3,059.97
4.625%0.3754.716%1-180$3,085.59
4.750%0.0004.784%1-180$3,111.33
Adjustable 5/1
RatePointsAPRMonthsPayment
4.875%0.7504.564%1-60$2,116.83
61-360$1,986.33
5.000%0.3754.578%1-60$2,147.29
61-360$1,989.88
5.125%0.0004.592%1-60$2,177.95
61-360$1,993.39
Adjustable 3/1
RatePointsAPRMonthsPayment
5.000%0.6254.498%1-36$2,147.29
37-360$1,980.71
5.125%0.3754.506%1-36$2,177.95
37-360$1,982.75
5.250%0.0004.503%1-36$2,208.81
37-360$1,984.76

As you can see, rates on a 30 year mortgage are comparable with rates of 15 year mortgages and the adjustable rate mortgages (ARMs). Though your monthly payments on the 30 year loan would be cheaper for the first five years than the adjustable rate loans. We didn't receive quotes for interest only mortgages or jumbo 30 year fixed mortgages in the two areas we targeted.

Banks in general are a lot less likely to offer interest only loans these days. Some banks and lending institutions are also not offering jumbo loans, if they are rates are considerably higher.

You can browse our mortgage rate tables and use our mortgage calculator to figure out which mortgage product best fits your needs and budget.

 
Author: Brian McKay
April 8th, 2009

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