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SOURCE: Home Finance of America
30 year fixed rate mortgages offered by Home Finance of America have fallen to 3.125% (APR 3.248%) making Home Finance of America among the industry’s leading providers of low rate mortgages.
Philadelphia, PA (PRWEB) November 14, 2012
Home Finance of America, one of the nation’s leading home mortgage lenders, is offering 30 year fixed rate mortgages at 3.250% (APR 3.366%) and 3.125% (3.248%) with no origination points for most mortgage scenarios. As of November 13, 2012, qualified borrowers are able to lock a 30 year fixed rate mortgage with Home Finance of America immediately upon approval. Many other loan programs are available. These low interest rates are available to qualified borrowers with good credit ratings looking to refinance or purchase a home with a loan amount of no more than $417,000. In most cases, HFA’s loan officers are able to close these low rate mortgages in under 30 days.
Home Finance of America’s interest rates consistently remain below the national average. The current 30 year national average rate is above 3.250% for most major metropolitan markets; including New York, Los Angeles, Philadelphia, and Dallas. It is safe to say that HFA ensures that its borrowers are going to be provided with a highly competitive rate relative to other brand name players in the market such as the large commercial banks. More borrowers are taking advantage of lower rates and exceptional service offered by retail mortgage bankers like Home Finance of America.
Current low rates have also lead to a tremendous increase in borrowers refinancing to shorter fixed terms. In most cases, a borrower can refinance from a 30 year fixed into a 15 year fixed rate mortgage at 2.750% (APR 2.895%) without noticing a significant impact in their monthly mortgage payment. Today buyers purchasing a new home should consider shorter fixed term options in addition to a traditional 30 year fixed rate mortgage. At rates well below 3.000% monthly payments on 15 year mortgages can be surprisingly low and have the additional benefit of saving borrowers tens of thousands of dollars in interest over the life of their mortgage.
More information about Home Finance of America’s loan programs, interest rates and their Best Rate and Fee Guarantee can be found on the company’s website http://www.HFAmerica.com.
About Home Finance of America:
Home Finance of America is a direct lender and will lock-in low rates for borrowers at the time of the application. Home Finance of America has an A rating with the Better Business Bureau. As such, you can be assured their customer service is the best in the mortgage business.
Home Finance of America is headquartered just outside of Philadelphia, PA. The company has specialized in originating low rate residential loans to qualified borrowers since 1993. They are a national leader in online mortgage lending. Loan originators are available seven days a week by calling 1-800-358-5626. Borrowers can apply by phone or online at http://www.HFAmerica.com.
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