Mutual Security Credit Union Current 2 Year Mortgage Rate of 2.99%

mutual-security-credit-union-299-mortgage-rateMutual Security Credit Union (MSCU) of Connecticut is advertising their "Living The Dream" 2/1 adjustable mortgage. The current adjustable mortgage rate is 2.99 percent with an annual percentage yield (APR) of 3.12 percent. That rate is one of the lowest mortgage rates currently available right now from any credit union or bank.

The 2/1 adjustable rate mortgage is available for home purchases and for refinances. The mortgage offer has no points and no prepayment penalty. With any adjustable mortgage, this is a variable rate mortgage which means the 2.99 percent rate is fixed for the first 24 months and then adjusts every year after.

The maximum annual increase in rate is only 1.00 percent. There is also a lifetime mortgage rate of 8.8875 percent and the lowest mortgage rate is the initial rate of 2.99 percent.

Loan Term
Lender
APR / Rate
Fees / Points
Payment
District Lending
NMLS #1835285
5.353%
15-Year Fixed
5.125%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
$3,190 /mo
PenFed Credit Union
NMLS #401822
5.554%
15-Year Fixed
5.250%
$8,000
Includes 1.000 points for $4,000
Lender Fees: $4,000
$3,216 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
5.634%
15-Year Fixed
5.490%
$3,760
Includes 0.765 points for $3,060
Lender Fees: $700
$3,267 /mo
New American Funding, LLC.
NMLS #6606
5.884%
15-Year Fixed
5.740%
$3,732
Includes 0.933 points for $3,732
Lender Fees: $0
$3,320 /mo
District Lending
NMLS #1835285
6.266%
30-Year Fixed
6.125%
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
$2,431 /mo
District Lending
NMLS #1835285
6.371%
5-Year ARM
6.250%
$5,112
Includes 0.778 points for $3,112
Lender Fees: $2,000
$2,463 /mo
Mutual of Omaha Mortgage, Inc.
NMLS #1025894
6.582%
30-Year Fixed
6.490%
$3,856
Includes 0.789 points for $3,156
Lender Fees: $700
$2,526 /mo
New American Funding, LLC.
NMLS #6606
6.715%
30-Year Fixed
6.625%
$3,708
Includes 0.927 points for $3,708
Lender Fees: $0
$2,562 /mo
PenFed Credit Union
NMLS #401822
6.746%
30-Year Fixed
6.625%
$4,995
Includes 0.750 points for $3,000
Lender Fees: $1,995
$2,562 /mo
Rocket Mortgage
NMLS #3030
6.784%
15-Year Fixed
6.625%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,512 /mo
Rocket Mortgage
NMLS #3030
7.476%
30-Year Fixed
7.375%
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$2,763 /mo
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.

To either purchase and/or refinance an existing mortgage, you must have a 20 percent down payment or equity in order to qualify for the mortgage offer. Mortgage loans are only available for primary residents in Connecticut and certain counties in New York.

 
Author: Brian McKay
May 6th, 2010

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