Today I was able to quote a couple buying a home in Fort Mill, S.C., at 4.75% for a 30 Year Fixed Rate mortgage. The home was $400,000 and they put 20% down so the loan was for $320,000. I charged 1% origination and the APR was 4.8709%. They had a credit score over 740.
These rates are still awesome, and low rates never last forever. If you are thinking about buying a home, you should definitely be working towards doing it soon.
One major change over the last week is 15 Year mortgage rates. Until this week, the 15 year rates were about the same as the 30 year fixed rates. Right now you can save about 1/2 percent on the rate by taking a 15 year mortgage. I ran a refinance analysis for one of my past clients that had a $300K mortgage for 30 years at 6.25%. Switching to a 15 year mortgage at 4.25% saved him over $200,000!!
If you would like more information or a rate quote specific to your needs, please call Olan Carder at 980-721-7478.
You can also get pre-qualified in minutes with our “Hassle-Free” online
pre-qual. Just CLICK HERE to get started.