LOWEST INTEREST RATE MORTGAGE
Home buyers understand the importance of comparing mortgage rates from multiple lenders.
Though these numbers can vary by only a few percentage points, your mortgage rate can make an enormous difference in how much you pay for your home. That’s why The Low Rate Co. aims to be the lowest lender around, offering low-interest home loans that put your dream home within easy reach.
It Pays to Compare Mortgage Rates
Just how much does your mortgage rate impact your final cost? Let’s say you’re purchasing a home for $250,000. You’re able to make a 20% down payment, which means you’ll need to borrow $200,000.
Imagine you finance your home with a 30-year mortgage with a fixed interest rate of 6%. Over the lifetime of your loan, you’ll pay $231,676 in interest, totaling $481,676 for the cost of the house once you add your initial down payment back in. This also means you’ll pay $1,199 a month for your mortgage payment.
Now imagine you finance your home with a 30-year mortgage with an interest rate of only 5%. Your total interest drops to $186,510, for a grand total of $426,510 (again, factoring in your down payment). As a result, your monthly premiums drop to only $1,073.
In other words, a 1% difference in mortgage rates can save you $55,166 over the lifetime of your loan, or around $126 each month. Think of what your family could do with an extra $100 in your monthly budget.
It really does pay to compare rates to find the best deal.
Current 30-Year Mortgage Rates: Traditional Mortgages
For most borrowers, a traditional mortgage (sometimes called a “conventional mortgage”) is the best way to go. Traditional mortgages typically offer some of the lowest interest rates and best terms for qualified borrowers.
For traditional loans, current 30-year mortgage rates hover at around 6%, though the exact rate will vary by lender, the size of your loan, and your personal financial history.
Current 30-Year Mortgage Rates: Specialized Loan Programs
Some home buyers might want to consider other loan programs that offer lower eligibility requirements to help first-time borrowers. Others offer lending options outside the boundaries of a traditional mortgage.
If you’re looking to save money on your home purchase, consider one of the following financing options from the Low Rate Co.
What Factors Affect Your Interest Rate?
Which Is Better: A 15-Year or 30-Year Mortgage?
How the Low Rate Co. Offers the Lowest Mortgage Rates
With so many mortgage options to choose from, our customers often wonder how our business model allows the Low Rate Co. to consistently offer the lowest mortgage rates. The answer is simple: we put our customers first.
Other lenders often need to charge higher interest rates to cover their internal operating costs. Mortgage brokers promise to serve as an intermediary between you and the lender, but only for the added cost of a brokerage fee.
The Low Rate Co. eliminates these costs by leveraging the latest tools and technology. Our advisors are committed to finding you the best low-interest home loans and helping you secure funding as quickly as possible. They’ll work with you to assess your needs, evaluate your finances, and devise a strategy to offer you the most affordable mortgage rates in the industry, guaranteed.
Just Five Minutes Can Make a Difference
The Low Rate Co. is committed to offering extraordinarily low mortgage rates and making the home-buying experience more enjoyable. We make the process so easy that you can access low mortgage rates in as little as five minutes.
Set up your Low Rate Co. account now,and discover a new path toward home ownership.