VirtualBank Mortgage Rates and Review(s)

Virtual Bank, the online bank based out of Palm Beach, Florida, offers a relatively narrow focus of home loan and mortgage products to customers throughout the country. They offer both fixed rate mortgages and adjustable rate mortgages (for purchase or refinancing) and currently advertise APRs under 5%. Their home loan product line consists of (but may not be limited to): fixed rate home loans, ARMs (adjustable rate mortgages), jumbo mortgages, and home loan refinancing.

About Virtual Bank:

They’re building your wealth, not bank branches!
At traditional banks the cost involved in building bank branches is passed along to banking customers in fees and rates. VirtualBank does not have a network of branches and operates efficiently through electronic and ATM transactions. This creates operating cost efficiencies which enable them to offer you higher yields on deposit accounts and lower rates on mortgages.

Mortgage Rates offered through Virtual Bank:

(Rates accurate as of 9/2010. Visit their website for updated rates and information @ VirtualBank.com.)

- 30 year fixed rate mortgage with interest rate of 4.625% and APR of 4.65%.

- 15 year fixed rate mortgage with interest rate of 4.125% and APR of 4.16%.

- 3 year ARM (adjustable rate mortgage) with interest rate of 4.375% and APR of 4.40%.

- 5 year ARM (adjustable rate mortgage) with interest rate of 4.250% and APR of 4.27%.

- 7 year ARM (adjustable rate mortgage) with interest rate of 4.375% and APR of 4.40%.

- Jumbo 3 year ARM (adjustable rate mortgage) with interest rate of 4.50% and APR of 4.51%.

- Jumbo 5 year ARM (adjustable rate mortgage) with interest rate of 5.00% and APR of 5.01%.

- Jumbo 7 year ARM (adjustable rate mortgage) with interest rate of 5.50% and APR of 5.51%.

* You must pay certain fees to third parties such as appraisers, credit reporting firms, and government agencies. The third party fees generally total between $411.00 and $1091.00. Virtual Bank estimates the breakdown of these fees as follows:

Zions Bank Mortgage Review(s) and Interest Rates

Zions Bank, based out of Salt Lake City, Utah, offers a wide selection of mortgage products withAPR’s and interest rates frequently advertised below current national averages. Their selection of mortgage products include (but are not limited to): fixed rate mortgages, adjustable rate mortgages, interest only home loans, VA mortgages, FHA mortgages, mortgage refinancing, as well as specific loans for a number of different housing categories (condos, single family homes, secodary homes, etc).

About Zions Bank:

Zions First National Bank is a subsidiary of Zions Bancorporation which operates through over 500 offices and 600 ATMs in 10 Western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. As a full-service bank, Zions offers commercial, installment and mortgage loans; trust services; foreign banking services; electronic and online banking services; automatic deposit and nationwide banking and transfer services; as well as the more familiar checking and savings programs.

Mortgage Rates offered through Zions Bank:

(rates accurate as of 9/2010. Visit their mortgage center here for updated rates.)

- 30 year fixed rate mortgage with APR of 4.525% with 0 points on home loans of $250,000.

- 20 year fixed rate mortgage with APR of 4.535% with 0 points on home loans of $250,000.

- 15 year fixed rate mortgage with APR of 4.062% with 0.125 points on home loans of $250,000.

- 1 year LIBOR ARM with APR of 3.218% with 0.750 points on home loans of $250,000.

- 3/1 LIBOR ARM with APR of 3.176% with 0 points on home loans of $250,000.

- 5 year adjustable rate mortgage with APR of 3.501% with 0 points on home loans of $250,000.

- 7 year adjustable rate mortgage with APR of 3.983% with 0 points on home loans of $250,000.

Terms and Conditions:

Pricing may be affected if credit scores are lower than 740.
Your APR will vary based on your final loan amount and finance charges.

If you have experience with the home loan or refinance process with Zions Bank, please share by leaving a comment.

Sunflower Bank Mortgage Rates and Review(s)

Sunflower Bank, based in the mid west, has some decent mortgage rates available to those with reasonable credit standings. Sunflower Bank has a wide selection of mortgage products to choose from. They offer fixed rate mortgages, adjustable rate mortgages, home loan refinancing, jumbo mortgages, and home equity loans (to name a few). They may even be able to customize a loan package to fit your individual needs.

About Sunflower Bank:

Founded in 1892 in Salina, Kansas, Sunflower Bank is a $1.8-billion community bank with 33 branch locations throughout Kansas and Colorado.

Sunflower Bank provides commercial and corporate services, personal solutions, wealth management and mortgage loans, all with a focus on bringing out the best in each community, and creating possibility – the mission statement of Sunflower Bank.

Sunflower Bank is family-owned by the six children of H.D. “Joe” Hale and Joyce Vanier Hale, with Mollie Hale Carter currently serving as bank president & CEO.

With more than 100 years of commitment to the people and places it serves, Sunflower Bank and its associates continue the tradition of strengthening their communities.

Mortgage Rates offered through Sunflower Bank:

(rates accurate as of 9/2010. Visit their mortgage center here for updated rates).

- 30 year fixed rate mortgage going for 4.504% APR.

- 20 year fixed rate mortgage going for 4.483% APR.

- 15 year fixed rate mortgage going for 3.919% APR.

- 10 year fixed rate mortgage going for 3.923% APR.

- 30 year 7/1 adjustable rate mortgage going for 4.077% APR.

- 30 year 5/1 adjustable rate mortgage going for 3.824% APR.

- 30 year 3/1 adjustable rate mortgage going for 3.572% APR.

- 15 year 7/1 adjustable rate mortgage going for 4.045% APR.

- 15 year 5/1 adjustable rate mortgage going for 3.794% APR.

- 15 year 3/1 adjustable rate mortgage going for 3.550% APR.

Assumptions: These rates are based on a primary home loan purchase in Kanasas with the loan amouting to $325,000 and a lock period of 45 days.

If you have experience in the home loans process through Sunflower Bank, please share by leaving a comment!

US Bank Home Loans, Mortgage, Refinance Rates and Review(s)

US Bank has an extensive collection of mortgage products available to consumers throughout most of the country. Whether you’re looking for a new home loan or looking to refinance an existing home loan, US Bank will be able to tailor a mortgage package to fit your needs. They offer fixed rate mortgages, adjustable rate mortgages, FHA loans, VA loans, jumbo mortgages, reverse mortgages, and interest only mortgages. Their loan specialists may also be able to accommodate customized loan packages for certain customers as well.

US Bank, based out of Ohio, is one of the largest banks in the country with over 2,900 offices and $150 million (plus) in deposits. They are a publicly traded bank on the New York Stock Exchange (NYSE) under the symbol USB. They have a current market cap of almost $40 billion and were able to maintain a somewhat stable share value (relatively speaking) during the industry collapse of 2008. Their stock price currently trades in the low $20′s per share and dipped only briefly to below $10 in the Fall of 2008.

Home Loan, Refinance and Mortgage Rates offered through US Bank:

(Rates accurate as of 9/1/2010. Visit our mortgage center for updated rates and info.)

- Conforming Fixed 30 Year Mortgage going for 4.564% APR.

- Conforming Fixed 20 Year Mortgage going for 4.463% APR.

- Conforming Fixed 15 Year Mortgage going for 3.985% APR.

- Conforming Fixed 10 Year Mortgage going for 3.908% APR.

- FHA Fixed 30 Year Mortgage going for 4.879% APR.

- FHA Fixed 15 Year Mortgage going for 4.565% APR.

- VA Fixed 30 Year Mortgage going for 4.846% APR.

- VA Fixed 15 Year Mortgage going for 4.594% APR.

- 5 year ARM going for 3.544% APR.

- 3 year ARM going for 3.628% APR.

- Jumbo 30 year fixed rate mortgage going for 4.903% APR.

- Jumbo 15 year fixed rate mortgage going for 4.385% APR.

If you have experience in the home loan process with US Bank please share by leaving a comment!

Recent Mortgage Reviews:

Total Mortgage Services Review: Featuring APR’s below the national average (as of 8/2010).

E-Trade Mortgage Rates and Review: Featuring APR’s below 5% as of (8/2010).

E-Trade Mortgage Review(s) and Rates

Like many online banks in 2008, E-Trade got hit pretty hard by the industry collapse. You may even recall that earlier this year E-Trade sold its online savings accounts to Discover Bank to narrow it’s focus back to their basics – investing. However, according to an E-Trade spokesman, they are getting back into the mortgage game (kind of). TheStreet.com reported in March of 2009, that E*Trades re-emergence in the mortgage business is simply an outsource to PHH. They then cited the following:

“PHH Corp. of Mount Laurel, N.J. will take care of most aspects of the loan, including the processing, underwriting and servicing, while E*Trade will market the loans and help collect the necessary borrower information, E*Trade spokeswoman Pam Erickson said. ”

It also appears that E-Trade’s new mortgage center doesn’t really accommodate new home buyers as their products primarily consist of refinancing existing home loans.

Current Mortgage Rates provided by E-Trade:

(Rates as of 8/31/2010)

- 30 year fixed rate mortgage with APR of 4.419%.

- 15 year fixed rate mortgage with APR of 4.020%.

- 7 year ARM (adjustable rate mortgage) with APR of 3.396%

- 5 year ARM (adjustable rate mortgage) with APR of 3.268%.

- 7 year interest only mortgage with APR of 3.415%.

- 5 year interest only mortgage with APR of 3.270%.

5/1 ARM P&I 30yr Conf- Monthly Payment for the first 359 months will be $856.76 with a corresponding simple interest rate of 3.125%.Monthly Payment for the remaining 1 months will be $851.38 with a corresponding simple interest rate of 3.125%

10/1 ARM P&I 30yr Conf- The first 120 months will be at a payment of $926.24 with a corresponding simple interest rate of 3.75%, the next 239 months will be at a payment of $876.22 with a corresponding simple interest rate of 3.125% and the remaining 1 months will be at a payment of $874.11 with a corresponding simple interest rate of 3.125%

5/1 ARM IO(10) 30yr Conf- The first 120 months will be at a payment of $520.83 with a corresponding simple interest rate of 3.125%, the next 239 months will be at a payment of $1,121.76 with a corresponding simple interest rate of 3.125% and the remaining 1 months will be at a payment of $1,119.01 with a corresponding simple interest rate of 3.125%

10/1 ARM IO(10) 30yr Conf- The first 120 months will be at a payment of $645.83 with a corresponding simple interest rate of 3.875%, the next 239 months will be at a payment of $1,121.76 with a corresponding simple interest rate of 3.125% and the remaining 1 months will be at a payment of $1,119.01 with a corresponding simple interest rate of 3.125%

7/1 ARM P&I 30yr Conf- The first 84 months will be at a payment of $879.22 with a corresponding simple interest rate of 3.33%, the next 275 months will be at a payment of $861.19 with a corresponding simple interest rate of 3.125% and the remaining 1 months will be at a payment of $860.70 with a corresponding simple interest rate of 3.125%

7/1 ARM IO(10) 30yr Conf- The first 84 months will be at a payment of $576.67 with a corresponding simple interest rate of 3.46%, the next 36 months will be at a payment of $520.83 with a corresponding simple interest rate of 3.125%, the next 239 months will be at a payment of $1,121.76 with a corresponding simple interest rate of 3.125%, the remaining 1 months will be at a payment of $1,119.01 with a corresponding simple interest rate of 3.125%

3/1 ARM P&I 30yr Conf- The first 36 months will be at a payment of $933.06 with a corresponding simple interest rate of 3.81%, the next 323 months will be at a payment of $862.76 with a corresponding simple interest rate of 3.125% and the remaining 1 months will be at a payment of $859.07 with a corresponding simple interest rate of 3.125%

3/1 ARM IO(10) 30yr Conf- The first 36 months will be at a payment of $666.67 with a corresponding simple interest rate of 4%, the next 84 months will be at a payment of $520.83 with a corresponding simple interest rate of 3.125%, the next 239 months will be at a payment of $1,121.76 with a corresponding simple interest rate of 3.125%, the remaining 1 months will be at a payment of $1,119.01 with a corresponding simple interest rate of 3.125%

Visit Etrade’s Banking Center for more information and current rates.

Mortgage Rates and Review: Vision Bank

Vision Bank is currently offering a wide selection of mortgage products (both fixed rate and adjustable rate mortgages) for those seeking a home loan or looking to refinance an existing loan. They have branches throughout Alabama and Florida and can do business with consumers in the southeast.

Vision Bank’s mortgage products:

30 year fixed rate mortgage – The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper. As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.

As of August 2010, Vision Bank has been offering thirty year fixed rate mortgages with an interest rate of 4.375% with a 20% down payment.

15 year fixed rate mortgage – This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate—and you’ll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment. Many borrowers opt for a 30-year fixed-rate loan and voluntarily make larger payments that will pay off their loan in 15 years. This approach is often safer than committing to a higher monthly payment, since the difference in interest rates isn’t that great.

As of August 2010, Vision Bank has been offering fifteen year fixed rate mortgages with an interest rate of 3.875% with a 20% down payment.

Hybrid ARM (3/1 ARM, 5/1 ARM, 7/1 ARM) – These increasingly popular ARMS—also called 3/1, 5/1 or 7/1—can offer the best of both worlds: lower interest rates (like ARMs) and a fixed payment for a longer period of time than most adjustable rate loans. For example, a “5/1 loan” has a fixed monthly payment and interest for the first five years and then turns into a traditional adjustable-rate loan, based on then-current rates for the remaining 25 years. It’s a good choice for people who expect to move (or refinance) before or shortly after the adjustment occurs.

(descriptions of the mortgage products can also be found at visionbank.net or by clicking here.)

Recent mortgage BankVibe.com mortgage reviews:

Mahopac National Bank mortgage rates and review – featured interest rates below 5% APR.

Nationwide Bank mortgage rates and review – featured fixed rate mortgages below 5% APR.

Mortgage Rates in Denver, Colorado: This week’s best offers

After combing through the top mortgage offers available to residents in the Denver, Colorado region, we’ve managed to put together the 5 lowest mortgage rates available in the area. These offers come in the form 30 year fixed rate mortgages, 15 year fixed rates mortgages and 3 year ARMs (adjustable rate mortgages).

You will likely be able to take advantage of the home loan rates if you reside in Denver, Boulder, Aurora, Lakewood, Centennial, Fort Collins, Loveland, Longmont, and Colorado Springs.

5 Lowest Mortgage Rates in Denver, Colorado Region:

1) Eagle Legacy Credit Union (Denver, CO) has a 30 year fixed rate mortgage going for 4.518% APR depending on your credit history. Like most credit unions, they are a not for profit institution who passes their profits on to their members in the form of lower loan rates and higher savings rates.

2) US Bank National Association (Wheatridge, CO) has a 30 year fixed rate mortgage going for 4.439% APR depending on your credit history. US Bank has locations nationwide and can provide home loans in dozens of states (not just Colorado) across the country.

3) Wells Fargo Bank, National Association (Woodland Park, CO) has a 15 year fixed rate mortgage going for 3.995% APR depending on your credit history. Like US Bank, Wells Fargo has locations throughout the country and can provide home loans in several states.

4) Credit Union of Colorado (Pueblo, CO) has a 15 year fixed rate mortgage going for 3.90% with 20% down and 1.0% origination fees. The APR on this mortgage offer is not listed, you’ll need to contact their offices for details. Credit Union of Colorado is also a not for profit, member owned institution.

5) Digital Federal Credit Union (Colorado Springs, CO) has a 3 year ARM going for 3.14% APR with 20% down. DFCU is a member owned, not for profit institution with locations in several states throughout the country.

The above home loan rates are assuming your loan is under $420k. If you live in the Denver, CO region and know of a better mortgage rate offered through your local bank or credit union, please share by leaving a comment.

* Keep in mind the interest rates provided above are time sensitive in nature, please refer to the date of this article for accuracy.

This week’s Lowest Mortgage Rates in Rhode Island

We’ve scoured the rate pages of dozens of banks and credit unions to find you this week’s lowest mortgage and refinance rates available to residents of the state of Rhode Island. The institution offering the best rates is a not for profit credit union called People’s Credit Union out of Newport, RI. They have a 5/1 ARM going for 3.34% APR as well as a 15 year fixed rate mortgage going for 3.91% APR. Keep in mind that credit unions can typically offer better home loan rates than banks can because they are not for profit, member owned institutions that pass their profits on to their members in the form of lower mortgage rates and/or higher savings rates. They are also more difficult to join than banks and typically require that you work for one of their selected employers, live within their geographic boundaries or are a member of some specific governmental or private organization.

If you cannot take advantage of People’s Credit Union’s mortgage rates, then here are some other noteoworthy offers for residents of Rhode Island…

Lowest Mortgage Rates in Rhode Island:

1) People’s Federal Credit Union has a 5/1 ARM going for 3.34% APR, a 15 year fixed rate mortgage going for 3.91% APR and a 30 year fixed rate mortgage going for 4.52% APR.

2) Charway Federal Credit Union (out of East Greenwich, RI) has a 15 year fixed rate mortgage going for 3.84% APR and a 30 year fixed rate mortgage going for 4.34% APR.

3) Sovereign Bank whom operates in many states in the northeast has 30 year fixed rate mortgages going for as low as 4.202% APR depending on point structure. They also have 15 year fixed rate mortgages going for as low as 3.824% APR depending on points. You can opt for between 1 and 3 points on your loan.

The above rates are time sensitive in nature, please refer to the date of this article for accuracy. If you live in Rhode Island and know of lower mortgage rates in which you’ve recently received from your local bank or credit union, please share by leaving a comment!

Mortgage Rates: PSECU (Pennsylvania State Employees Credit Union)

PSECU or Pennsylvania State Employees Credit Union has some fairly decent mortgage rate offers today. If you live in Pennsylvania and are in the market for a home loan or looking to refinance your existing mortgage you may want to stop by one of their local branches. In general credit unions can get you slightly better rates than large, national banks due to the fact that they are member-owned, not-for-profit institutions which can pass along their profits to their members in the form of lower loan rates (or higher savings rates).

About PSECU:

PSECU is the largest credit union in Pennslyvania. They have been in business for roughly 75 years and have branch locations and ATM’s throughout Pennslyvania and the surrounding areas. They have roughly 350,000 members and control almost $3.3 billion in assets.

Current Mortgage Rates offered through PSECU:

- 15 year fixed mortgage with 0 points: APR as low as 4.583% depending on credit history.

- 15 year fixed mortgage with 1 points: APR as low as 4.483% depending on credit history.

- 15 year fixed mortgage with 2 points: APR as low as 4.381% depending on credit history.

- 15 year fixed mortgage with 3 points: APR as low as 4.280% depending on credit history.

- 30 year fixed mortgage with 0 points: APR as low as 5.114% depending on credit history.

- 30 year fixed mortgage with 1 points: APR as low as 4.947% depending on credit history.

- 30 year fixed mortgage with 2 points: APR as low as 4.779% depending on credit history.

- 30 year fixed mortgage with 3 points: APR as low as 4.681% depending on credit history.

These rates are accurate as of July, 23, 2010. Interest rates are time-sensitive in nature, if this article is out of date then these rates may no longer be available. View PSECU’s current mortgage rates here.

You may also be interested in PSECU’s CD Rates.

AnchorBank Mortgage Rates vs. current national average

AnchorBank, based out of Madison, Wisconsin currently offers some of the lowest mortgage rates in the state. AnchorBank  is a $4.5 billion bank and Wisconsin’s largest thrift. They offer personal and business banking services to more than 165,000 households and businesses. AnchorBank, fsb is a wholly owned subsidiary of Anchor BanCorp Wisconsin Inc., which incorporated into a holding company on March 18, 1992, and went public on July 15, 1992.

Current Mortgage Rates provided by AnchorBank:

- 30 year fixed rate mortgage with APR of 4.645% with 0.00% points and no fees. The current national average for 30 year fixed rate mortgages sits at roughly 4.80% APR (down from roughly 4.84% APR just one week ago).

- 15 year fixed rate mortgage with APR of 4.178% with 0.00% points and no fees. The current national average for 15 year fixed rate mortgages sits at roughly 4.16% APR (down from roughly 4.26% APR just one week ago).

You can also get personalized quotes from one of AnchorBank’s mortgage lenders in any of their 70 locations throughout the state of Wisconsin.

* Please refer to the date of this article for rate accuracy on the quotes (above).