Sovereign Bank, based out of Pennsylvania, is currently offering mortgage rates and home loan refinance rates with APR’s below the national average.
They have a wide range of home loan products – offering fixed rate mortgages, adjustable rate mortgages, FHA/VA mortgages, construction loans and reverse mortgages (to name a few). Their 30 year and 15 year fixed rate home loans both come with APR’s below 5.0%.
Mortgage Rates offered through Sovereign Bank:
- 30 year fixed rate mortgage with interest rates ranging from 3.75% to 4.375% on home loans less than or equal to $417,000 and depending on point structure.
- 15 year fixed rate mortgage with interest rates ranging from 3.25% to 3.875% on home loans less than or equal to $417,000 and depending on point structure.
Sovereign Bank Mortgage Benefits and Features:
- Online mortgage tools and planning
- Low down payment loans
- Reverse Mortgages
- Loans for as little as $15,000
- FHA/VA mortgages
- Fast approvals
- Zero points
- Construction loans
- Flexible terms available
About Sovereign Bank:
Sovereign Bank was founded in 1907 and has since grown to over 700 locations and over 8,000 employees. They have just over $80 billion in assets with $50 billion in deposits and just over $51 billion in loans.
Reviews and Complaints:
Sovereign Bank has no rating on the BBB (Better Business Bureau) with zero complaints registered. After sifting through comments made by Sovereign Bank customers on various review websites we found a mix of both positive and negative reviews. When searching through reviews try to isolate the ones that give employee name(s) who were particularly helpful. Then you can reach out to that individual within the organization.