In a tough lending market, where almost every mortgage lender is putting a good fight to make its offerings the best available options in the market, US Bank Corp (NYSE: USB) continues to publish its lending packages at the same interest rates and maintain a steady demand. The potential home buyers will find no change in the benchmark 30 year fixed mortgage rates, even when every other mortgage lender has hiked the home loan rates today.
According to the new mortgage information released by the US based mortgage lender, the interest borrowers can still secure a 30 year fixed rate mortgage deal at a rate of 4.500% today, along with an impressive annual percentage yield of 4.637%. However, for those who find the long term lending options somewhat expensive, the bank offers short term, 15 year fixed rate mortgage home loans against a lending charge of 3.500% and an APR yield of 3.811%.
For the borrowers who are seeking financial help from the mortgage lender for dealing with their bigger home investment, US Bank Corp publishes 30 year jumbo fixed rate mortgage schemes in its portfolio against a lending charge of 4.625% and an annual return rate of 4.777%, which is of course better than the APR yield of non-jumbo loans. On the other hand, the shorter, 15 year jumbo FRM packages can be acquired by paying an interest cost of 3.750% and enjoying an APR yield of 4.008% today.
Sometimes, poor past credit scores might create hindrance in obtaining a perfect home purchase loan from the banks. US Bank Corp offers FHA insured, 30 year fixed rate home loans for such borrowers at a rate of 4.375% and an annual return of 4.879%. Alternatively, the FHA backed financing options with shorter tenure, the 15 year FHA FRM deals, can be locked in by the borrowers at a lending rate of 4.000% and an APR yield of 4.565%.
The bank also offers the VA versions of the 30 year fixed rate mortgage loans against a lending charge of 4.500% and an APR yield of 4.846% today. However, for those interested in taking the shorter route, the bank provides an option of 15 year VA fixed rate mortgages, which are now being traded at 4.000% and carry an APR yield of 4.721%.
As far as the adjustable rate mortgages go, the customers can find the 3 year deals listed in the bank’s loan books against a lending rate of 2.250% and an APR yield of 3.261%. The more flexible, 5 year adjustable rate mortgage loans can be acquired at a lending cost of 2.625% and a starting annual return of 3.250% today.
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.