Capital One Financial Corp (NYSE: COF) one of the premier banks in the United States of America followed the last week’s trend and made no major changes to its standard 30 year and 15 year fixed rate mortgage schemes as on Tuesday, September 16, 2014. The bank didn’t make any positive or negative changes in the interest rates which is why a lot of potential home loan buyers got disappointed as they were expecting the rates to come down a little bit.
The benchmark 30 year home mortgage loans at Capital One Financial stood at 4.250% rate of interest as on Tuesday, September 16, 2014. The APR on these loans came in at 4.303% which is also more or less same as it was yesterday. As far as the interest rates on short term fixed rate home mortgage schemes is concerned, it was listed at 3.500% along with an annual percentage rate of 3.592% to start with. The interest rate on short term schemes too remained unchanged.
The bank also deals in jumbo mortgage schemes which are meant for the purchase of expensive villas and apartments. People who are interested in taking these loans can apply for the 30 year jumbo schemes at 4.625% interest rate and a starting APR of 4.647%. If you feel that you cannot afford the 30 year schemes then you could opt for the 15 year short term jumbo loans which were listed at 4.000% interest rates and an annual percentage rate of 4.057%.
People looking for more flexible schemes can opt for adjustable rate mortgage options offered by the bank. The 5 year ARMs at Capital One Financial were quoted at 3.125% rate of interest and an APR of 3.021%. The 7 year ARMs offered by the bank stood at 3.250% interest rate today and yielded an APR of 3.107%.
Disclaimer: The advertised rates were submitted by each individual lender/broker on the date indicated. Rate/APR terms offered by advertisers may differ from those listed above based on the creditworthiness of the borrower and other differences between an individual loan and the loan criteria used for the quotes.