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What rate can I currently expect on a 30-yr fixed mortgage loan?

Primary residence, credit score 770, 15% down payment (loan of $335,000), single family home in Hinsdale, IL
  • August 03 2009 - Hinsdale
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Answers (8)

Depending on the day, as of Friday 8/7, rates are 5.375 (5.627APR) with 0 points.  The best thing to do is what one of the other lenders suggested, and put a loan request through Zillow.  The APR is higher due to private mortgage insurance on the loan.  Also, most banks offer a free float down if the market improves in the event you lock-in now.
 
Good luck

Chris Jones
Wintrust Mortgage
Chicago, Il 60640
  • August 08 2009
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Your best bet would be to put in a loan request on Zillow.
You should get a couple of lenders e-mailing you rates & closing costs.
Todays average rate is 5.000% - 5.250%.
  • August 04 2009
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Today's 30-year fixed mortgage rates are at 5.274 percent. Check for 30-year mortgage rates in your zip code by using our [content removed by moderator for being self promotional]


  • August 03 2009
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Rates are always fluctuating, but we are currently offering 4.75 on a 30-year fixed with 2 points. If you pay less points or no points, the rate will increase accordingly.  We can close within 30 days because we are a broker and a lender, utilizing our in-house underwriting department, which is underwriting loans on 24-hour turntimes.  That is virtually unheard of at this point.

Check out our web site and give us a call.  One of our licensed mortgage professionals can answer all of your questions.

Best of luck!

Regards,
Total Mortgage Services
  • August 03 2009
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Most recently they have been in a range from 5.0% to 5.5%.

Jon Hawk
Platinum Capital Mortgage, LLC
Champaign, IL
  • August 03 2009
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Profile picture for ericdfg
thanks for the input, though, I am just wondering in general what the current rates are for the parameters specified above.  I do not need an exact quote, etc. but just an idea of where rates are currently.  Any help?
  • August 03 2009
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Profile picture for Key Lock Lending
Fill out a "loan request" on zillow.  Lenders will provide good faith estimates and it will allow you to shop around most effectively.2 things to considerPut 5% more down (20% total) to avoid mortgage insuranceLook at both FHA and Conv financing options.  Conventional financing requires private mortgage insurance on loans higher than 80% loan to value.  The private mortgage insurance is more expensive than the FHA's own brand of monthly mortgage insurance.If you're not prepared to put the full 20% down and go conventional than you might want to consider putting less than 15% down.  There are no additonal cost adjustments for putting only 5% down with the FHA and the mortgage insurance cost adjustment for only putting 3.5% down is marginal. You could keep your money in the bank and go FHA or you could put 20% down and go conventional which would yield a lower payment and most likely better rate.Also FHA loans have a funding fee of 1.75% of the loan amount.Bottom line- get several quotes for both programs and explore all down payment options.
  • August 03 2009
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with no points also and closing in less than 30 days
  • August 03 2009
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