Ohio Mortgage Rates September 28, 2010
A snapshot of bank mortgage lenders in Ohio and Ohio mortgage rates.
With Mortgage rates holding at all time low levels, potential homeowners and existing homeowners should be comparing rates to find out the benefits of homeownership or the savings with a mortgage refinance. Since a mortgage loan is the biggest financial obligation most individuals will incur, it only makes sense to shop and compare rates.
Each week, Findlocalmortgagerates.com surveys the top five bank mortgage lenders in the nation and the top FHA mortgage lenders to provide a snapshot of mortgage rates and terms available. Periodically, we produce a snapshot of mortgage rates in a specific sate. Today, we highlight mortgage rates and bank mortgage lenders in Ohio.
Though, home loan underwriting or loan approvals have become considerably more stringent, most bank mortgage lenders will prequalify a borrower for little or no charge. Existing homeowners, regardless of how long they have owned their home, may be eligible for a refinance in Ohio at todays near record low mortgage rates.
Today’s Ohio mortgage rates survey includes the home loan rates from Third Federal Savings and Loan, mortgage rates offered by Huntington Bank’s Huntington mortgage division and mortgage rates from Ohio Valley Bank.
Huntington Bank offers a 30 year mortgage rate in Ohio at 4.00% with 1.0 point and a 4.251% APR. The 15 year mortgage rate from Huntington Mortgage is at 3.50% and 1.0 point for a 3.964% APR.
Ohio Valley Bank offers a 30 year mortgage rate in Ohio at 4.375% with no points and a 4.448% APR. The 15 year Ohio mortgage rate from Ohio Valley Bank is at 3.75% with no pints and an APR at 3.876%.
Third Federal Savings and Loan Ohio mortgage rates includes the 30 year loan at 4.39% with zero points and a 4.481% APR and a 15 year mortgage loan with an interest rate of 3.89% with zero points and an APR of 4.048%.
For the bank mortgage rates listed, one point is equivalent to 1% of the loan amount. The mortgage interest rates, annual percentage rate (APRs) and discount points shown from Ohio mortgages are subject to change without notice.
The listed Ohio mortgage rates assume a 20% down payment. Down payment, credit, property value as well as property location are all factors that can determine the effective mortgage rate.
Mortgage rates in Ohio listed above are subject to change without notice. All loans are subject to credit approval and bank lender underwriting.
Other loan terms and pricing options are available from these bank mortgage lenders.
Huntington Bank can be reached at 1-800-562-6871.
Ohio Valley Bank which offers mortgages, home equity, construction, auto, and personal loans can be reached at 1-877-893-2265.
Third Federal Savings and Loan has 22 full service branches in Northeast Ohio, eight lending offices in Central and Southern Ohio, and 17 full service branches throughout Florida and can be reached at1-800-844-7333.
Today’s Wells Mortgage Rates
Today’s Wells Mortgage rates remained relatively stable after the bond market gyrated rather measurably over the past week. Wells Mortgage rates are some of the lowest mortgage rates among the top bank mortgage lenders. Wells Mortgage offers competitive mortgages rates for both buying a home and refinancing an existing home loan.
With the economy failing to move measurably higher and overall inflation expectations remaining low, bank mortgage rates are expected to stay within a tight range for the near future. Unfortunately, low mortgage rates from Wells Mortgages and other bank mortgage lenders have failed to help the battered housing market after the tax credit offered by Congress expired.
The vast majority of mortgage loans originated this year by Wells Mortgage and other major bank mortgage lenders are generated toward loans that can be sold and that meet the underwriting criteria of government supported agencies of Fannie Mae, Freddie Mac and the Federal Housing Administration.
Today’s Wells mortgage rates for home loans involved on a purchase transaction that meet the criteria of FNMA, FHLMC and FHA include the following mortgage rates and terms:
30 year fixed Wells Mortgage rate is 4.375% with 1.0 point and a 4.530% APR.
The 15 year Wells Mortgage rates is 3.750% with 1.0 point and a 4.017% APR.
A 30 year fixed rate FHA home loan from Wells Mortgage is 4.375% with 1.0 point and a 4.721% APR.
The 5 year adjustable rate mortgage from Wells Mortgage has a start rate of 2.75% with 1.0 point and a 3.138% APR.
When it comes to home loans for a refinance from Wells Mortgage, the mortgage rate is slightly higher. Wells mortgage rates for refinance transactions include the following mortgage rates and terms:
Wells Mortgage rates for a 30 year fixed rate refinance is at 4.50% with 1.0 point and a 4.656% APR.
The 15 year mortgage refinance rate is 3.875% with 1.0 point and a 4.143% APR.
A 30 year FHA refinance from Wells mortgage ahs a mortgage rate of 4.50% with 1.0 point and a 4.848% APR.
The 5 year adjustable rate mortgage for a mortgage refinance is 3.00% with 1.0 point and a 3.225% APR.
Wells Mortgage interest rates will vary according to the credit score, property location, down payment, loan amount and other factors. These mortgage rates are for customers with excellent credit scores with a 20% down payment on a single family owner occupied property.
The interest rates, annual percentage rates (APRs), discount points and costs shown are subject to change without notice. The APR for individual loan requests will vary based on the final loan amount and finance charges.
For more information on Well Mortgage loan products and Wells Mortgage rates for home buying or refinance transactions, a bank loan representative can be reached at 877-937-9357.
The Wells Mortgage rates listed are for mortgage loans in California however a quick check of today’s Wells Mortgage rates indicates that the Illinois mortgage rates, Florida mortgage rates, Massachusetts mortgage rates, New York mortgage rates, Texas mortgage rates, Pennsylvania mortgage rates, West Virginia mortgage rates, Ohio mortgage rates, Michigan mortgage rates, Georgia mortgage rates, North Carolina mortgage rates, Wisconsin mortgage rates and New Jersey mortgage rates from Wells Mortgage were same for the mortgage loan products listed.
Mortgage Rates in Ohio May 20, 2010
This week’s midweek mortgage rates survey is on 30 year fixed rate mortgages and 15 year fixed rate mortgages in Ohio. The mortgage rates listed come from two of the largest bank mortgage lenders based in Ohio, Third Federal Savings and FirstMerit Bank, as well as two of the largest bank mortgage lenders in the nation, Chase Bank and Bank of America.
These are mortgage rates for 15 and 30 year fixed rate home loans. A fixed rate mortgage has an interest rate that won’t change for the life of the loan which provides a secure fixed interest rate and payment.
The following mortgage rates in Ohio are for May 20, 2010.
Third Federal offers a 30 year fixed rate mortgage with a rate of 4.60% and no points with a 4.692% APR.
Third Federal offers the 15 year loan with a mortgage rate of 3.95% and no points and an APR of 4.108%.
The mortgage rates in Ohio are available with the bank’s automatic account payment program.
FirstMerit Bank has a 30 year fixed rate home loan with an interest rate of 4.75% with no points and a 4.829% APR.
FirstMerit’s 15 year mortgage rate in Ohio is at 4.125% with no points and 4.259% APR.
Bank of America Home Loans current 30 year mortgage rate in OH is 4.75% with 1.0 point and a 4.866% APR.
Bank of America promotes a 15 year mortgage rate at 4.125% and 0.875 points with a 4.306% APR.
Chase Bank mortgage rates in Ohio for a 30 year are at 4.875% with 0.25 points and a 4.953% APR while the 15 year mortgage rate is at 4.25% with 0.375 points and a 4.401% APR.
Listed Ohio mortgage rates assume a 20% down on a single family, owner occupied home. Mortgage rates for purchases with lower down payments and mortgage rates for refinance transactions are also available form these mortgage lenders.
The mortgage interest rates, annual percentage rates (APRs) and points shown are subject to change without notice.
Prospective borrowers can use the APRs listed as a guideline to shop for mortgage loans but borrowers should generally not depend solely on the APR in choosing the best home loan. The mortgage loan APR is an effective interest rate and not the actual interest rate that the loan payments are based on. The monthly mortgage payments will be based on the actual mortgage interest rate, the amount borrowed, and the term of the home loan.
These rates are for general comparisons, actual rates may vary best on down payment, credit, and property characteristics. For additional mortgage rate information from these lenders, the contact numbers are as follows:
FirstMerit Bank mortgage department number is 1-800-562-6694
Chase Mortgage can be reached at 1-800-873-6577
Bank of America Home Loans can be reached at 1-888-233-4124
Third Federal Savings customer service is available at 1-800-844-7333
Mortgage Rates in Ohio with Huntington Bank Mortgage
Huntington Bank mortgage offers a variety of banking products and services in Ohio including mortgage loans and competitive mortgage rates.
Huntington bank offers a wide range of mortgage loan programs and interest rates in Ohio for both purchases and existing home loan refinances. The mortgage loan refinance options include refinances to obtain additional cash out on a primary home or to take advantage of a lower mortgage rate or change the term or type of home loan such as 30 year loan to a 15 year or a fixed rate home loan to an adjustable rate mortgage.
Mortgage loans offered by the bank include a wide choice of fixed rate mortgage products ranging from 10 year to 30 year terms, adjustable rate loans, balloon loans, jumbo loans, construction loans, VA and FHA loans.
Current Ohio mortgage rates offered by Huntington Bank include the following terms and rates:
30 year fixed rate mortgage has an Ohio mortgage rate of 4.750% with 0.625 discount points and an APR of 5.069%.
A 15 year fixed rate mortgage has an Ohio mortgage rate of 4.125% with 0.375 discount points and an APR of 4.616%.
The Huntington Bank 3/1 adjustable rate mortgage has a mortgage rate of 4.000% with 0.0 discount points and an APR of 3.567%. The loan rate for this mortgage product is normally lower than fixed rates however the mortgage interest rates will change at predetermined intervals based upon an index.
The bank’s 7 year balloon loan has a mortgage rate in Ohio of 4.500% and 0.125 points and a 5.052% APR.
The balloon loans are often loans that are considered by borrowers who plan to live in their home for a shorter period of time and want the benefits of a fixed monthly payment. The balloon mortgage loan rate is generally lower than the rates found on either 30 year fixed rate loan or a 15 year fixed rate loan.
Huntington’s mortgage division offers several different mortgage products and mortgage rates in Ohio other than those listed. The FHA loans and the VA loans offered by the bank come with a wide range of mortgage loan options, including fixed rate mortgages and ARMs.
The Ohio mortgage rates and annual percentage rates (APRs) listed are based on a $120,000 loan amount on a single family owner occupied home, with a minimum 20% down payment, excellent credit a rate lock period of 30 days.
All mortgage loans in Ohio are subject to bank and credit approval. Ohio mortgage rates listed are current as of this publication but are subject to change at any time.
For individuals looking to buy or refinance a home in Ohio, current mortgage rates and additional home loan information can be obtain from Huntington Bank at 1-800-562-6871.