We’re continuing to look at regional rates to find the best home mortgage rates for your area.  Today, we’re looking at the best home loans in District of Columbia.  A mortgage is a big deal and in today’s economic climate, it’s one of the biggest decisions you’ll make, so Peak Personal Finance is on the job.

For this look at the best mortgage rates in District of Columbia, we’re assuming a moderately valued (average) home, a credit score of 700 (FICO), up to 20% in down payment or equity (or combined), and cash for fees which will be expressed in points or fixed rates (or both, as applicable).

For a 30 year fixed rate mortgage, AimLoan offers a 4.894% annual percentage rate (APR) with 1.852 in fees plus $1,995.  Mortgage Capital Associates has a 4.977% APR and 2 points with fixed $950 in fees.  For no points, a Mortgage Capital Associates APR of 5.176% may also be of interest.

Looking at the best home mortgage rates for a 15 year fixed loan, the best mortgage rates in District of Columbia are again with AimLoan at 4.617% APR with 1.218 in points plus $1,995 in fees.  For a 4.634% APR, those points can reduce to 0.508, however, which may be a better deal for you.  Mortgage Capital Associates has a 4.64% APR and 2 points plus $950 in fees.  Bank of America offers a 4.682% APR with 2 points plus $1,400 in fees and allows down to a 680 credit score to qualify.

A fast look at the best home mortgage rates in District of Columbia for a 5/1 adjustable rate mortgage (ARM) shows AimLoan again at 3.816% APR with 1.208 in points and $1,995 in fees.  Mortgage Capital Associates has 3.887% APR with no points and a flat $950 in fees, however.

All of these listings for the best mortgage rates in District of Columbia are illustrative.  Your situation, exactly geographical location, and other factors will likely change these assumptions.  Be sure to check out your loan thoroughly and discuss with your mortgage broker and financial planner all aspects before you choose.