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A mortgage, just like a car purchase, can be flexible. It’s important to educate yourself with the options that are available to you and compare quotes from several different lenders. Start educating yourself today!

Types of Interest Rates
Mortgage loans differ in how the interest rates are set, and it is important to know what kind of rate you are comfortable paying. Fixed-rate mortgages, usually in terms of 15, 20 or 30 years, maintain a stable rate during the time you owe on the loan while an interest rate can vary on an ARM. If you have a fluctuating interest rate that is becoming too high to manage, you may benefit in changing to a reliable, fixed-rate mortgage. Compare mortgage rates now!

Annual Percentage Rate (APR)
Expressed as a yearly rate, the APR takes into account interest rates, points, broker fees and other credit charges that you may be required to pay.

Quotes
When asking for a list of current mortgage interest rates, ask your lender or broker if the rates are quoted based on the lowest rates for the day or week. It’s always a good idea to seek quotes from several lenders and know your options before you commit to a mortgage.

Know that you are protected against discrimination based on the Equal Credit Opportunity Act. Federal law prohibits lenders and protects homebuyers from potential discrimination based on sex, race, color, national origin, age, marital status, handicap, receipt of public assistance or familial status (having children under 18 years of age). If a lender discourages a mortgage loan or asks for this information, know that you are protected and deserve fair credit terms based on the. Under these laws, an applicant cannot be refused a loan, charged more for a loan or offered less favorable terms than others with equal standings based on the above characteristics.

Delta Prime makes it easy to help you compare offers. The process is fast, free and with no obligation. So what are you waiting for? Get educated and compare offers today!

 

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www.deltaprimemortgages.com is not a banker or lender (Service Provider). Leading mortgage loan providers participate in our matching engine that may have loan products available matching the criteria you submit in this interest profile. Information is submitted to these lenders in real time and they may contact you via the contact information you provide. Your submitted information is delivered to interested lenders only. Personal information is not resold to any other third party. Please refer to the Privacy Policy link above for more information. The information collected is not an application for credit or a mortgage loan, nor is it used to pre-qualify you with any Service Provider. There is no cost to submit a loan request, get matched with lenders and receive loan offers. You may review the loan offers and talk to the lenders at no cost. *About Our Advertised Rates

Fixed Interest Rates
- Our advertised fixed interest rates are based on a 15-year fixed-rate loan with a loan-to-value ratio of less than 80% and are current as of Feb 6th, 2012. The Annual Percentage Rates (APRs) of the loans will be slightly higher.
-Loans may carry closing costs and/or origination points. Rate and terms offered may vary depending on your credit history and other qualifications, amount of equity in the property, property location, type of property, and other factors. We arrange but do not make loans.

Adjustable Interest Rates and Advertised Payment Terms
-Our advertised adjustable interest rates are based on a 3/1 ARM (Adjustable Rate Mortgage) with a 30-year fully amortizing term and are current as of Feb 6th, 2012.
-For a $200,000 loan, the initial interest rate is 2.50% for 5 years with 2.00 discount points due at closing. $4439 in fees. There is a 2.70% APR with an initial monthly principal and interest payment of $696 for the first 5 years. After a period of 5 years, the potential interest rate is estimated at 3.50% with an estimated monthly payment of $632.
-An Adjustable Rate Mortgage (ARM) is a mortgage with an adjustable rate that is amortized over 30 years.
-Your interest rate is fixed for the first 3, 5, or 7 years of the loan repayment period, depending on the type of ARM you have.
-After the initial fixed-rate period, the interest rate could adjust every 12 months, depending on the product and the financial markets.
-Interest rate adjustments are capped at 5% above your initial rate and 2% per adjustment period. In other words, if your initial interest rate is 4.5%, your rate will never be higher than 9.5%, and never rise more than 2% per year.
-Actual mortgage payment will vary based on your situation and the current interest rate when you apply.
-Not all consumers will be matched to a lender that is able to supply the advertised rates.
- Interest rate quoted assumes a FICO score of 720 with a maximum loan-to-value ratio of 80% on a primary residence.
-The actual interest rate, APR and payment may vary based on the specific terms of the loan selected, verification of information, your credit history, the location and type of property, and other factors.
-May not be available in all states.
-Available rates and payment terms are subject to change daily without notice.
-Payment amounts shown do not include taxes or insurance.
-The Annual Percentage Rate (APR) is variable and is subject to increase or decrease, so your payments may increase or decrease each year.