RateAPY

AAXA Discount Mortgage Offers 4.867% APR for 30-Year Fixed Rate Loan

Posted by: RateAPY Bank Rates News
December 11th, 2009

Homebuyers and homeowners interested in refinancing have been encouraged by the low mortgage interest rates in recent weeks. Borrowers should start their loan application process by getting quotes from lenders online.

When searching for the best mortgage rates online, first check to be sure the lender is licensed to make loans in your state, because not all lenders make mortgage loans in every location.

Loan Comparisons

Consumers should compare loans of the same amount by checking both the interest rate and the discount or origination points. Compare the fees charged for a purchase or refinance and the APR (annual percentage rate), which includes the interest and fees on an annualized basis.

AAXA Discount Mortgage serves customers in 49 states. This week, AAXA has a 30-year fixed-rate loan at 4.867% APR for an example of a $200,000 home purchase in Illinois. Search for your best mortgage rates.

Current Rates from AAXA

Loan Product/Rate/Discount-Origination Points/Fees/APR

30-Year Fixed/4.750%/1/$685/4.867%

15-Year Fixed/4.375%/0/$264/4.395%

10-Year Fixed/4.250%/0/$99/4.261%