Compare Today's Mortgage and Refinance Rates at Pureloan.com

 If you cannot pay the home price instantly, a mortgage loan is taken but you still pay 3% to 25% cash down. The mortgage loan covers the remaining amount. Refinance is a second loan midway through the first loan that helps to reduce the loan duration. Lesser interest rates mean reduced monthly payments. Compare current mortgage rates to understand the trends. Refinance rates are somewhat similar.

 

What exactly is a mortgage calculator?



Along with the Principal is the loan amount is the interest rate based on which the monthly payment is calculated. A few more payments are required. Some of them are property taxes, Homeowners insurance, PMI, etc.

 

 Try the mortgage payment calculator

 

Start by entering the mortgage details. With a purchase price of $400,000 in zip code 78210, the down payment being $80,000, the loan amount stands at $320,000. A fixed loan is required for 20 years duration. The details of monthly payments are revealed instantly when you press the button. The total monthly payment of $2919 consists of monthly principal and interest ($2024), property taxes ($762), homeowners insurance ($133), and PMI nil.

 

Compare current mortgage rates at Pureloan.com (customized)

 

30 year fixed mortgage rates

The best offer is a 2.875% interest rate and 2.896% APR

The second best offer is a 3.000% interest rate and 3.003% APR

The third best offer is a 3.000% interest rate and 3.023% APR

15 year fixed mortgage rates

The best offer is a 2.125% interest rate and 2.151% APR

The second best offer is a 2.500% interest rate and 2.511% APR

The third best offer is a 2.500% interest rate and 2.514% APR

5/1 ARM mortgage rates

The best offer is a 2.250% interest rate and 2.392% APR

The second best offer is a 2.875% interest rate and 3.075% APR

The third best offer is a 3.000% interest rate and 3.000% APR

 

Current refinance rates at Pureloan.com

30-year Fixed Refinance rates

A offers a 2.875% rate and 2.896 APR

B offers a 3.000% rate and 3.003% APR

C offers a 3.000% rate and 3.023% APR

15-year Fixed Refinance rates

The first lender offers a 2.125% rate and 2.153% APR

The second lender offers a 2.500% rate and 2.511% APR

The third lender offers a 2.500% rate and 2.514% APR

5/1 ARM Fixed Refinance rates

Alpha offers a 2.250% rate and 2.297% APR

Beta offers a 2.500% rate and 2.459% APR

Gamma offers a 2.500% rate and 2.510% APR

 

To compare current mortgage rates, you need a mirror! Another reputed lender offers the following interest rates for mortgage and refinance: The interest is 4.858% for 30-year fixed, 4.510% for 20-year fixed, 3.859% for 15-year fixed, and 3.764% for 10-year fixed loans. The interest rate for 7 year ARM is 4.345%, 5 years ARM is 4.365%, and 3 years ARM is 2.340%. For the 30 years fixed rate FHA, the rate is 4.284%. In the 30 years fixed rate VA, the rate is 4.104%. Pureloan.com rates are so much lower.

 

Know more about mortgage rates :  How to Compare current mortgage rates and get the best terms?

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