Mortgage Loans: Finding the Best Mortgage Loan

Mortgage loans were easy to come by over the past several years when credit was flowing, anyone with a pulse was able to get a mortgage loan. Many people were able to get a home loan without providing proof of their income.   

The pendulum has now swung in the opposite direction, getting a mortgage home loan is a lot harder these days. Providing proof if income is a must to obtain a mortgage or home equity loan. Banks have tightened mortgage loan standards often requiring a 20% down payment for buying a home or a maximum loan-to-value ratio of 80% for a mortgage refinancing.

Mortgage Loan

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

Show Advertiser Disclosure

The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.

Lender

APR / Rate

Fees / Points

Payment

NMLS #1513908

4.852%

15-Year Fixed

4.625%

$6,318

Includes 0.753 points for $3,012

Lender Fees: $3,306

$3,086 /mo

Next >

NMLS #1835285

5.204%

15-Year Fixed

4.990%

$5,660

Includes 0.915 points for $3,660

Lender Fees: $2,000

$3,162 /mo

Next >

NMLS #1283930

License: 01970483

5.407%

15-Year Fixed

5.250%

$4,125

Includes 0.750 points for $3,000

Lender Fees: $1,125

$3,216 /mo

Next >

NMLS #1025894

5.545%

15-Year Fixed

5.375%

$4,448

Includes 0.937 points for $3,748

Lender Fees: $700

$3,242 /mo

Next >

NMLS #3030

5.886%

15-Year Fixed

5.750%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$3,322 /mo

Next >

NMLS #1513908

5.905%

30-Year Fixed

5.750%

$7,014

Includes 0.927 points for $3,708

Lender Fees: $3,306

$2,335 /mo

Next >

NMLS #401822

5.962%

15-Year Fixed

5.750%

$5,500

Includes 0.375 points for $1,500

Lender Fees: $4,000

$3,322 /mo

Next >

NMLS #1835285

6.013%

30-Year Fixed

5.875%

$6,000

Includes 1.000 points for $4,000

Lender Fees: $2,000

$2,367 /mo

Next >

NMLS #401822

6.048%

30-Year Fixed

5.875%

$7,500

Includes 0.875 points for $3,500

Lender Fees: $4,000

$2,367 /mo

Next >

NMLS #1283930

License: 01970483

6.119%

30-Year Fixed

6.000%

$5,125

Includes 1.000 points for $4,000

Lender Fees: $1,125

$2,399 /mo

Next >

NMLS #1025894

6.231%

30-Year Fixed

6.125%

$4,544

Includes 0.961 points for $3,844

Lender Fees: $700

$2,431 /mo

Next >

NMLS #3030

6.722%

30-Year Fixed

6.625%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$2,562 /mo

Next >

NMLS #1835285

7.011%

5-Year ARM

6.875%

$5,560

Includes 0.890 points for $3,560

Lender Fees: $2,000

$2,628 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

Getting a home loan these days is harder but finding the best mortgage loan rate is a lot easier than it used to be. In the past, the options were to either go through a mortgage broker or go directly to a bank.  Shopping for a mortgage online is now possible, making your search for the best mortgage loan and mortgage rate a lot easier.

The first step in getting the best mortgage loan and mortgage rate online is to figure out which type of loan is best suited for you. We recently published an article on how to choose a home mortgage , this article will help you with this decision. Choosing a Home Mortgage

Deciding how much you can afford for a down payment is another factor to consider when qualifying for a home loan. Most banks are once again requiring a 20 percent down payment. Figuring how much you can afford to pay each month on a loan is another factor.

Current Mortgage Rates

Now that you have decided on a home mortgage that best fits your needs, you can start your search for current mortgage rates available. Monitorbankrates.com has rate tables for today's mortgage rates in your area, just type in your zip code, loan amount and mortgage type and you will see a list of banks and mortgage rates in your area.

Mortgage Rates