Today, we’re going to look to the best home loans in Louisiana as we here at Peak Personal Finance find you the best rates around the nation.
Of course, our search assumes some basic things about your situation. It assumes a credit score of at least 700 (FICO), up to 20% in down payment and/or equity in the new home, and cash on hand to pay fees and other items before moving in. Most fees are flat or expressed in points (or both), based on the loan.
30-Year Fixed Best Home Mortgage Rates
For this most popular term, the best rates are at AimLoan with a 4.759% annual percentage rate (APR, 4.50% interest) with 1.765 points given and a $1,995 fixed fee. This can be locked for 30 days. To reduce those points to zero, the APR rises to 4.981% with fees the same.
CapWest Mortgage has a 5.291% APR (5.25% interest) with no point and fixed fees of $749. A thirty day lock is available.
Quicken Loans is right on top of that at 5.371% APR (5.125% interest) with 1.75 points, $1,600 in fees and a 45 day lock in period. This would actually produce a lower monthly payment than the CapWest offer above.
15-Year Fixed Best Home Mortgage Rates in Louisiana
Right now, the best mortgage interest rates are at AimLoan again with a 4.557% APR (4.375% interest) with no points and $1,995 in fixed fees and a 30-day lock in.
CapWest Mortgage has a 4.568% APR (4.5% interest) with no point and a low $749 in fees. This has a thirty day lock period.
Regions Bank offers a 4.814% APR (4.75% interest) with no points, fixed $700 in fees, and a thirty-day lock in period.
5/1 Adjustable Rate Mortgage (ARM) Best Home Loans in Louisiana
If an ARM is in your best interest, AimLoan has a 3.622% APR (3.25% interest) with 1.373 points and $1,995 in fees available. CapWest has a 3.778% APR with no points and a $749 fixed fee available as well.
Your situation will vary and these numbers are merely for consideration to give you an idea of what’s available right now. Talk to your financial adviser and mortgage broker to lock down the absolute best deal for you.
