Illinois – Wells Fargo Mortgage Rates Below National Avgerage

We’ve been seeing some fairly decent mortgage rates in Illinois offered through Wells Fargo’s mortgage division recently. If you happen to be in the market for an adjustable rate mortgage (more specifically a 5/1 ARM) AND if you live in Illinois you may want to stop by your local Wells Fargo. Currently with a down payment of 20% you can lock in a 5/1 ARM for 3.142% APR. This APR was recently found at Wells Fargo in Peoria, IL, Vernon Hills, IL and Woodhul, IL but may be available in other Wells Fargo locations throughout the state.

Below is a list of Wells Fargo’s Mortgage Rates offered in some regions in Illinois:

- 3.142% APR 5/1 adjustable rate mortgage with 1% origination fees and 20% down

- 4.311% APR 15 year fixed rate mortgage with 1% origination fees and 20% down

- 4.907% APR 30 year fixed rate mortgage with 1% origination fees and 20% down

Why Choose Wells Fargo as your Mortgage Provider?

(find out more on Wells Fargo’s home mortgage page)

1) Service – Time your payments with your paycheck. Manage your mortgage and your finances in one place. Use their “PriorityBuyer preapproval” to ease home purchase uncertainties. If approved for this you will receive guaranteed closing.

2) Reliability – Wels Fargo will continue to service their loans rather than selling them off. Customers with less than ideal credit can take advantage of their “Steps to Success” program which provides free credit management education.

3) Stregth – Wels Fargo claims that despite today’s changing mortgage market, Wells Fargo Home Mortgage is uniquely positioned for success AND as a mortgage industry leader, they are committed to helping as many customers as possible enjoy the personal and financial benefits of home ownership.

Harris Bank Mortgage Rates and Review(s)

Harris Bank, based out of Illinois, has some decent mortgage rates available on a wide range of mortgage products. They offer a complete array of standard mortgage products and may even be able to put together customized mortgage packages for certain individuals and families. Their mortgage product offerings include: 30 year fixed rate mortgages, 15 year fixed rate mortgages, 3 year adjustable rate mortgages, 5 year adjustable rate mortgages, 7 year adjustable rate mortgages, and 10 year adjustable rate mortgages (to name a few).

Harris Bank is one of the largest banks in the US with almost 300 offices throughout the country and nearly $27 million in deposits.

Mortgage Rates offered through Harris Bank:

(Rates accurate as of 9/02/2010. Visit harrisbank.com for updated rates)

- 30 year fixed rate mortgage with APR of 4.674%.

- 15 year fixed rate mortgage with APR of 4.083%.

- 3 year adjustable rate mortgage with APR of 3.197% on a 30 year term.

- 5 year adjustable rate mortgage with APR of 3.213% on a 30 year term.

- 7 year adjustable rate mortgage with APR of 3.299% on a 30 year term.

- 10 year adjustable rate mortgage with APR of 3.632% on a 30 year term.

Important Disclosures:

Rates are subject to change at anytime without notice. The rates listed are the current rates for a 60-day lock in period. Your loan’s final rate could vary based on the specific characteristics of your loan transaction including, but not limited to, the region where your loan is originated, any additional loans against your property, and your credit profile up to the time of closing.

Mortgage Rate Assumptions:

Loan amount of $180,000 on a $240,000 primary residence home in Chicago, Illinois.

Recent Mortgage Reviews:

US Bank Mortgage Rates and Review: featuring APRs under 5% as of Sept 2, 2010.

Total Mortgage Services Rates and Review: featuring APRs under 5% as of August 31, 2010.

Fifth Third Bank Mortgage Rates and Review

Fifth Third Bank is based out fo Cincinnati, Ohio but operates in several states ranging from the Midwest to the southeast. You can find bank branches in Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Missouri, North Carolina, Pennsylvania, Tennessee, and West Virginia. Within these states Fifth Third operates 16 affiliates with over 1,309 full service locations. If you are in the market for any type of home loan Fifth Third can, more than likely, provide you with the exact type of loan you’ll need. They provide consumers with fixed rate mortgages, adjustable rate mortgages, jumbo loans, FHA loans, VA loans, construction and/or lot loans as well as interest only loans.

Current Mortgage Rates offered through Fifth Third Bank:

- Fixed 30 year conforming loan with 0.875 points and APRs as low as 4.399%.

- Fixed 30 year conforming (10 year interest only) loan with 0.625 points and APRs as low as 5.259%.

- Fixed 20 year conforming loan with 0.25 points and APRs as low as 4.303%.

- Fixed 15 year conforming loan with 0.75 points and APRs as low as 3.874%.

- Fixed 10 year conforming loan with 0.75 points and APRs as low as 3.874%.

- 3/1 ARM (10 year interest only) loan with 0.25 points and APRs as low as 3.32%.

- 10/1 ARM (10 year interest only) loan with 0.75 points and APRs as low as 4.105%.

- Please note that the interest rates listed above are time sensitive in nature. Please refer to the date of this article for accuracy. The above rates assume a 20% down payment on a $140,00 loan and are subject to change based on credit history. For updated mortgage rates and to review their terms and conditions you can visit their mortgage center here.

If you are in the market for savings products, check out Fifth Third Bank’s CD rates and promotions.