Category Archives: atlanta mortgage rates

Atlanta Mortgage Rates Survey – Week of May 07, 2012

Posted on May 11, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, six Atlanta institutions offered rates above 4.00% on 30-year fixed-rate conforming loans in the Atlanta area for well-qualified borrowers. Wells Fargo ( www.wellsfargo.com ) offered rates at 3.63%, the Branch Banking and Trust ( www.bbt.com ) offered rates at 3.75%, the Bank of America ( www.bankofamerica.com ) and JP Morgan Chase ( www.chase.com ) offered rates at 3.88%. One bank, namely the Synovus Bank ( www.synovus.com ) offered rates above 4.00% with 4.22%. While most lenders will push one of the three products on the list below, there are other options for the borrower.  The 30-year fixed rate loan is the most popular since it offers the lowest monthly payment.  The trade-off is paying a higher interest rate.  For those who have a better cash flow, the 15-year product may be more suitable.  The 15-year fixed rate loan will allow the borrower to pay more toward principal with each payment, and since it has a lower interest rate the overall amount of money that is paid in interest will be much lower.  While many people steer clear of the 5/1 ARM it is beneficial to some borrowers.  For instance, a person with a smaller loan (usually due to refinancing) may have the cash flow to pay off their ARM in 5 years or less.  This person could save an extra 1% in interest payments over the 15-year product and never worry about the rate adjusting later in the life of the loan. Top Atlanta Area Banks and Credit Unions As of 30 Yr-Rate 30 Yr-APR 15 Yr-Rate 15 Yr-APR 5/1 ARM-IR 5/1 ARM-APR SunTrust Bank 05/04/2012 3.99% 4.09% 3.38% 3.61% 2.88% 3.18% Wells Fargo 05/07/2012 3.63% 3.79% 2.88% 3.17% 2.13% 3.02% Bank of America 05/04/2012 3.88% 3.99% 2.88% 3.15% 2.63% 3.17% Branch Banking and Trust 05/04/2012 3.75% 4.19% 2.88% 3.69% 2.50% 2.82% Synovus Bank 05/04/2012 4.22% NA 6.91% NA NA NA Regions Bank 05/04/2012 3.91% NA 3.14% NA 2.84% NA JP Morgan Chase 05/07/2012 3.88% 3.94% 3.00% 3.14% 2.50% 3.09%   Listed rates from banks, thrifts, and credit unions were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Mortgage Rates Survey – Week of April 23, 2012

Posted on April 27, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, six Atlanta institutions offered rates above 4.00% on 30-year fixed-rate conforming loans in the Atlanta area for well-qualified borrowers. Wells Fargo ( www.wellsfargo.com ) and Branch Banking and Trust ( www.bbt.com ) offered 3.75%. The Synovus Bank ( www.synovus.com ) offered rates at 4.22%. While most lenders will push one of the three products on the list below, there are other options for the borrower.  The 30-year fixed rate loan is the most popular since it offers the lowest monthly payment.  The trade-off is paying a higher interest rate.  For those who have a better cash flow, the 15-year product may be more suitable.  The 15-year fixed rate loan will allow the borrower to pay more toward principal with each payment, and since it has a lower interest rate the overall amount of money that is paid in interest will be much lower.  While many people steer clear of the 5/1 ARM it is beneficial to some borrowers.  For instance, a person with a smaller loan (usually due to refinancing) may have the cash flow to pay off their ARM in 5 years or less.  This person could save an extra 1% in interest payments over the 15-year product and never worry about the rate adjusting later in the life of the loan. Top Atlanta Area Banks and Credit Unions As of 30 Yr-Rate 30 Yr-APR 15 Yr-Rate 15 Yr-APR 5/1 ARM-IR 5/1 ARM-APR SunTrust Bank 04/20/2012 3.99% 4.11% 3.38% 3.63% 2.75% 3.14% Wells Fargo 04/22/2012 3.75% 3.92% 2.88% 3.17% 2.25% 3.06% Bank of America 04/20/2012 3.88% 4.01% 3.00% 3.30% 2.63% 3.19% Branch Banking and Trust 04/20/2012 3.75% 4.23% 3.00% 3.80% 2.50% 2.82% Synovus Bank 04/20/2012 4.22% NA 6.91% NA NA NA Regions Bank 04/20/2012 3.95% NA 3.20% NA 2.87% NA JP Morgan Chase 04/22/2012 3.88% 3.98% 3.13% 3.25% 2.38% 3.07%   Listed rates from banks, thrifts, and credit unions were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit Continue reading →

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Atlanta Mortgage Rates Survey – Week of March 26, 2012

Posted on March 28, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, only one Atlanta institution offered rates below 4.00% on 30-year fixed-rate conforming loans in the Atlanta area for well-qualified borrowers.  Regions Bank ( www.regions.com ) offered one of the lowest rates with 3.99%. Five other institutions offered rates above 4.00% with Branch Banking and Trust ( www.bbt.com ) offering one of the highest rates at 4.31%. While most lenders will push one of the three products on the list below, there are other options for the borrower.  The 30-year fixed rate loan is the most popular since it offers the lowest monthly payment.  The trade-off is paying a higher interest rate.  For those who have a better cash flow, the 15-year product may be more suitable.  The 15-year fixed rate loan will allow the borrower to pay more toward principal with each payment, and since it has a lower interest rate the overall amount of money that is paid in interest will be much lower.  While many people steer clear of the 5/1 ARM it is beneficial to some borrowers.  For instance, a person with a smaller loan (usually due to refinancing) may have the cash flow to pay off their ARM in 5 years or less.  This person could save an extra 1% in interest payments over the 15-year product and never worry about the rate adjusting later in the life of the loan. Top Atlanta Area Banks and Credit Unions As of 30 Yr-Rate 30 Yr- APR 15 Yr- Rate 15 Yr- APR 5/1 ARM-IR 5/1 ARM-APR SunTrust Bank 03/23/2012 4.13% 4.14% 3.63% 3.58% 2.88% 2.45% Wells Fargo 03/26/2012 4.00% 4.17% 3.38% 3.67% 2.25% 3.06% Branch Banking and Trust 03/26/2012 4.31% NA 3.35% NA NA NA Synovus Bank 03/26/2012 4.22%   NA 6.91% NA NA NA Regions Bank 03/26/2012 3.99% NA 3.31% NA 2.96% NA JP Morgan Chase 03/26/2012 4.13% 4.20% 3.38% 3.50% 2.75% 3.20%   Listed rates from banks, thrifts, and credit unions were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Mortgage Rates Survey – Week of March 19, 2012

Posted on March 22, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, only one Atlanta institution offered rates below 4.00% on 30-year fixed-rate conforming loans in the Atlanta area for well-qualified borrowers.  Regions Bank ( www.regions.com ) offered one of the lowest rates with 3.99%. Six other institutions offered rates above 4.00% with Synovus Bank ( www.synovus.com ) offering the highest rates of the city with 4.22%. While most lenders will push one of the three products on the list below, there are other options for the borrower.  The 30-year fixed rate loan is the most popular since it offers the lowest monthly payment.  The trade-off is paying a higher interest rate.  For those who have a better cash flow, the 15-year product may be more suitable.  The 15-year fixed rate loan will allow the borrower to pay more toward principal with each payment, and since it has a lower interest rate the overall amount of money that is paid in interest will be much lower.  While many people steer clear of the 5/1 ARM it is beneficial to some borrowers.  For instance, a person with a smaller loan (usually due to refinancing) may have the cash flow to pay off their ARM in 5 years or less.  This person could save an extra 1% in interest payments over the 15-year product and never worry about the rate adjusting later in the life of the loan. Top Atlanta Area Banks and Credit Unions As of 30 Yr-Rate 30 Yr- APR 15 Yr- Rate 15 Yr- APR 5/1 ARM-IR 5/1 ARM-APR SunTrust Bank 03/16/2012 4.13% 4.01% 3.63% 3.42% 2.88% 2.45% Wells Fargo 03/17/2012 4.00% 4.17% 3.38% 3.67% 2.25% 3.06% Bank of America 03/16/2012 4.13% 4.25% 3.25% 3.54% 2.88% 3.27% Branch Banking and Trust 03/16/2012 4.31% NA 3.35% NA NA NA Synovus Bank 03/16/2012 4.22% NA 6.91% NA NA NA Regions Bank 03/16/2012 3.99% NA 3.31% NA 2.96% NA JP Morgan Chase 03/19/2012 4.13% 4.19% 3.25% 3.41% 2.75% 3.20%   Listed rates from banks, thrifts, and credit unions were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Mortgage Rates Survey – Week of March 12, 2012

Posted on March 16, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, four Atlanta institutions offered rates below 4.00% on 30-year fixed-rate conforming loans in the Atlanta area for well-qualified borrowers. JP Morgan Chase ( www.chase.com ) offered rates at 3.88%, Regions Bank ( www.regions.com ) offered 3.99% while the Wells Fargo offered the lowest rates in the country with 3.75%. Three other institutions offered rates above 4.00%. While most lenders will push one of the three products on the list below, there are other options for the borrower.  The 30-year fixed rate loan is the most popular since it offers the lowest monthly payment.  The trade-off is paying a higher interest rate.  For those who have a better cash flow, the 15-year product may be more suitable.  The 15-year fixed rate loan will allow the borrower to pay more toward principal with each payment, and since it has a lower interest rate the overall amount of money that is paid in interest will be much lower.  While many people steer clear of the 5/1 ARM it is beneficial to some borrowers.  For instance, a person with a smaller loan (usually due to refinancing) may have the cash flow to pay off their ARM in 5 years or less.  This person could save an extra 1% in interest payments over the 15-year product and never worry about the rate adjusting later in the life of the loan. Top Atlanta Area Banks and Credit Unions As of 30 Yr-Rate 30 Yr- APR 15 Yr- Rate 15 Yr- APR 5/1 ARM-IR 5/1 ARM-APR SunTrust Bank 03/08/2012 3.99% 4.01% 3.38% 3.42% 2.63% 2.45% Wells Fargo 03/09/2012 3.75% 3.92% 3.13% 3.42% 2.13% 3.02% Bank of America 03/09/2012 4.13% 4.25% 3.38% 3.66% 2.88% 3.25% Branch Banking and Trust 03/09/2012 4.31% NA 3.35% NA NA NA Synovus Bank 03/09/2012 4.22% NA 6.91% NA NA NA Regions Bank 03/09/2012 3.99% NA 3.31% NA 2.96% NA JP Morgan Chase 03/11/2012 3.88% 3.99% 3.13% 3.27% 2.50% 3.11%   Listed rates from banks, thrifts, and credit unions were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Mortgage Rates Survey – Week of February 20, 2012

Posted on February 25, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, four Atlanta institutions offered rates below 4.000% on 30-year fixed-rate conforming loans in the Atlanta area for well-qualified borrowers.  SunTrust bank ( www.suntrust.com ), Regions Bank ( www.regions.com ) and JP Morgan Chase ( www.chase.com ) offered 3.99%, 3.99% and 3.88% respectively while Wells Fargo ( www.wellsfargo.com ) offered the lowest rates at 3.75%. Three other institutions offered rates at around 4.25% with the Bank of America ( www.bankofamerica.com ) offered one of the highest rates on the market with 4.38%. While most lenders will push one of the three products on the list below, there are other options for the borrower.  The 30-year fixed rate loan is the most popular since it offers the lowest monthly payment.  The trade-off is paying a higher interest rate.  For those who have a better cash flow, the 15-year product may be more suitable.  The 15-year fixed rate loan will allow the borrower to pay more toward principal with each payment, and since it has a lower interest rate the overall amount of money that is paid in interest will be much lower.  While many people steer clear of the 5/1 ARM it is beneficial to some borrowers.  For instance, a person with a smaller loan (usually due to refinancing) may have the cash flow to pay off their ARM in 5 years or less.  This person could save an extra 1% in interest payments over the 15-year product and never worry about the rate adjusting later in the life of the loan. Top Atlanta Area Banks and Credit Unions As of 30 Yr-Rate 30 Yr- APR 15 Yr- Rate 15 Yr- APR 5/1 ARM-IR 5/1 ARM-APR SunTrust Bank 02/17/2012 3.99% 4.01% 3.38% 3.42% 2.75% 2.45% Wells Fargo 02/17/2012 3.75% 3.92% 3.13% 3.42% 2.38% 3.19% Bank of America 02/17/2012 4.38% 4.53% 3.50% 3.74% 2.88% 3.35% Branch Banking and Trust 02/17/2012 4.31% NA 3.35% NA NA NA Synovus Bank 02/17/2012 4.22% NA 6.91% NA NA NA Regions Bank 02/17/2012 3.99% NA 3.31% NA 2.96% NA JP Morgan Chase 02/17/2012 3.88% 3.98% 3.00% 3.14% 2.50% 3.10%   Listed rates from banks, thrifts, and credit unions were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Area Mortgage Rate Survey February 10, 2012

Posted on February 12, 2012 by admin

According to a recent Primerates.com survey of Atlanta area mortgage rates offered by the largest area banks & credit unions, the Atlanta area institutions still offered rates with a spread of just over half a percent.  JP Morgan Chase ( www.jpmorganchase.com ) lowered their offered rates to the lowest rates on 30-year fixed -rate conforming loans in the Atlanta metro area for well-qualified borrowers to 3.75%.  Rates were staggered up to Branch Banking and Trust ( www.bbt.com ) still offering the highest at 4.31%. With home prices continuing their decline, now is the perfect time to get into that new house.  Mortgage rates are at an all time low, prices are down considerably than what they were a few years ago (in fact Atlanta saw nearly a 12% decline in the price of homes from November 2010 to November 2012), and sellers are motivated to get rid of their house. For buyers who are ready to make the commitment, rates and prices have never looked better.  But they still must be certain to go through the proper channels and take the right steps.  The first step is to find a lender who is qualified, and licensed.  By going with one of the top lending institutions a person can do just that.  They will know they are getting top of the line service, and from a credible source.  For buyers who have found a broker that they are unsure if they are legit, they can look them up on the National Association of Mortgage Broker’s site .  For Banks try the FDIC directory , and for credit unions search the National Credit Union Administration directory. Top Atlanta Area Banks and Credit Unions 30-year Fixed 15-year Fixed 5/1 ARM JP Morgan Chase 3.75% 3.00% 2.38% Wells Fargo 3.88% 3.13% 2.13% SunTrust Bank 3.99% 3.38% 2.63% Regions Bank 3.99% 3.31% 2.96% Synovus 4.22% 6.91% NA Bank of America 4.25% 3.50% 2.88% Branch Banking and Trust 4.31% 3.35% NA Listed rates for Atlanta area mortgage rates come from banks, thrifts and credit union and were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Mortgage Rates Survey – Week of January 20, 2012

Posted on January 25, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, most of the Atlanta area institutions still offered rates of around 4%, while overall rates increased slightly.  SunTrust Bank ( www.suntrust.com ) offered the lowest rates on 30-year fixed -rate conforming loans in the Atlanta metro area for well-qualified borrowers at 3.88%.  Rates were staggered with JP Morgan Chase ( www.jpmorganchase.com ) in the middle at 4.13%, and Branch Banking and Trust ( www.bbt.com ) offering the highest at 4.31%. When it comes time to refinance a mortgage it may be tempting to roll other debt into the new loan.  This can make sense if certain criteria are met.  For those looking to do a “cash-out” loan, that is take a loan for more than is needed to pay off the previous loan, in order to do upgrades and renovations to their home, they should be aware that they generally do not get a dollar-for-dollar return on their money.  It makes better sense to do a cash-out loan when even with the added principal the loan payments will still be lower than the old loan payments. For other types of debt, such as student loans and auto loans, a person must take into consideration the rates of return, the deduction on the mortgage interest, and whether or not they want to still be paying for a car 15 to 30 years down the road.  Chances are they will no longer have the car, and it is often best to keep the loans separate.  Student loans are forgiven at death and generally very low interest.  It almost never makes sense to roll them into a mortgage. Top Atlanta Area Banks and Credit Unions As of 30-year Fixed 15-year Fixed 5/1 ARM Sun Trust Bank 01/20/12 3.88% 3.25% 2.50% Regions Bank 01/20/12 3.99% 3.31% 2.96% Wells Fargo 01/21/12 4.00% 3.25% 2.13% JP Morgan Chase 01/21/12 4.13% 3.38% 2.50% Synovus 01/20/12 4.22% 6.91% NA Bank of America 01/20/12 4.25% 3.50% 3.13% Branch Banking and Trust 01/20/12 4.31% 3.35% NA   Listed rates from banks, thrifts and credit union were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Mortgage Rates Survey – January 6-8, 2012

Posted on January 12, 2012 by admin

According to a recent Primerates.com survey of Atlanta mortgage rates offered by the largest area banks & credit unions, most of the Atlanta area banks offered rates around 4%.  Wells Fargo ( www.wellsfargo.com ) offered the best rates on 30-year fixed -rate conforming loans in the Atlanta metro area for well-qualified borrowers at 3.75%.  SunTrust Bank ( www.suntrust.com ) was just slightly higher at 3.88%.  Bank of America ( www.bankofamerican.com ) offered the highest rates, at 4.38%. After finding what seems to be the perfect house a person will start to rush through the application process.  But people are very often denied for loans.  The reason is either their credit score is too low, or they are trying to finance a loan that is too big for their income.  There are steps that can be taken in either scenario, but often it takes a little bit of time to get there.  For a score that is too low the best thing to do is make regular, on-time payments for all existing credit.  A person may need to open a credit card, charge a small amount, and then pay it off in full every month.  After a year, perhaps two, their score will be up to where the bank will be willing to give them a loan. Top Atlanta Area Banks and Credit Unions As of 30-year Fixed 15-year Fixed 5/1 ARM Wells Fargo 01/08/12 3.75% 3.25% 2.13% SunTrust Bank 01/06/12 3.88% 3.13% 2.50% Regions Bank 01/06/12 3.99% 3.31% 2.96% JP Morgan Chase 01/09/12 4.00% 3.25% 2.63% Synovus 01/06/12 4.22% 6.91% NA Branch Banking and Trust 01/06/12 4.31% 3.35% NA Bank of America 01/06/12 4.38% 3.63% 3.13%   Listed rates from banks, thrifts and credit union were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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Atlanta Mortgage Rates Survey for the Week of December 15, 2011

Posted on December 24, 2011 by admin

According to a recent Primerates.com survey of mortgage rates offered by the largest area banks & credit unions, three of the Atlanta area banks offered Atlanta mortgage rates under 4%.  The three institutions offering rates under 4% on 30-year fixed -rate conforming loans in the Atlanta metro area for well-qualified borrowers were:  SunTrust Bank ( www.suntrust.com ) and Wells Fargo ( www.wellsfargo.com ) both weighing in at 3.88%.  Regions Bank ( www.regions.com ) was just slightly higher at 3.99%.  Branch Banking and Trust ( www.bbt.com ) came in at the other end of the spectrum with a rate of 4.31%. When obtaining a loan for a home, it is always best to make a down payment of at least 20% in order to avoid paying for Private Mortgage Insurance (PMI).  Many lenders will not even loan a borrower the full amount in a single loan; instead they will offer one loan for 80% of the value of the home, accompanied by another for 20% of the value.  The smaller loan will often charge at least one percentage point higher interest.  To pay off the loan the fastest, and save as much as possible in interest charges, any extra principal payments should go toward the loan with the highest interest rate, while paying the minimum on the other. Top Atlanta Area Banks and Credit Unions As of 30-year Fixed 15-year Fixed 5/1 ARM SunTrust Bank 12/15/11 3.88% 3.13% 2.63% Wells Fargo 12/16/11 3.88% 3.25% 2.38% Regions Bank 12/15/11 3.99% 3.31% 3.03% Bank of America 12/15/11 4.00% 3.25% 2.75% JP Morgan Bank 12/18/11 4.00% 3.25% 2.63% Synovus Bank 12/15/11 4.22% 6.91% NA Branch Banking and Trust 12/15/11 4.31% 3.35% NA Listed rates from banks, thrifts and credit union were listed on their websites on the date indicated for conforming loans with 0 points.  Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history.  Contact a specific institution for current rates. Continue reading →

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