West Newfield, ME Mortgage Rates February 2020

West Newfield, Maine Mortgage Rates - Refinance Rates:

Search and compare mortgage rates and refinance rates in West Newfield, ME. Our rate table has a list of West Newfield, Maine mortgage rates and mortgage refinance rates. You can also use our free mortgage calculator to calculate monthly mortgage payments.

When you start your search for current mortgage rates in West Newfield, ME you need to first have an understanding of the types of mortgages available and their corresponding interest rates. Types of rates available in West Newfield, ME include conforming mortgage rates, super conforming rates, jumbo rates, adjustable rates, HELOC rates and home equity loan rates. There are variations of each type of mortgage available in West Newfield, ME listed below.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 04332, 2, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.946%
3.750%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
02/28/2020
at 2.000 pts
45 day lock rate
Est payment: $1,390
Fees in APR: $7,250
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.946%
3.750%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
02/28/2020
at 2.000 pts
45 day lock rate
Est payment: $1,390
Fees in APR: $7,250
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.





West Newfield, ME Conforming Mortgage Rates

Conforming mortgage rates are rates on mortgages that meet the criteria set out by the Federal Housing Finance Agency. There are limits set for each county of Maine. There are higher mortgage loan limits for designated high-cost areas, like on the coasts and in large cities.

West Newfield, ME mortgages that “conform” to the standards set out by the Federal Housing Finance Agency can be purchased by Freddie Mac and Fannie Mae. This process guarantees banks are able to resell West Newfield, ME mortgage loans that have been made. As a result, West Newfield, ME mortgage rates today are lower than jumbo interest rates in West Newfield, ME. Conforming mortgages and jumbo mortgages are available in terms of 40 years, 30 years, 25 years, 20 years, 15 years and 10 years.

West Newfield, ME Super Conforming Home Loan Rates

Super conforming mortgages in West Newfield, ME are mortgages that have higher mortgage loan amounts but still “conform” to the standards set by the Federal Housing Finance Agency. Super conforming mortgages are available for the higher cost housing areas like the coasts and in large cities.

West Newfield, ME Jumbo Loan Interest Rates

West Newfield, ME jumbo mortgage rates are rates for mortgage loans that have a dollar amount higher than conforming and super conforming loan amounts. Jumbo home loan rates in West Newfield, ME are usually 0.75 basis points higher than conforming mortgage rates in West Newfield, ME because there is no guarantee banks and credit unions can sell these mortgages after they make the loans.

West Newfield, ME Fixed Rate Mortgages

Fixed rate mortgages are the most common mortgage available in West Newfield, ME. The mortgage rate and the monthly payment stay the same for the entire life of the mortgage loan. This makes fixed rate mortgages the most stable and predictable for mortgagees.

West Newfield, ME Adjustable Interest Rates

West Newfield, ME adjustable mortgages have a fixed mortgage rate for a certain number of years and then the mortgage rate adjusts every year after the initial period. There are usually yearly caps and life time caps on how much the mortgage interest rate and fluctuate. Your monthly mortgage payment will be lower at first but can rise when mortgage rates rise. Adjustable mortgages are available in terms of 1 year, 3 years, 5 years, 7 years and 10 years.

West Newfield, ME Interest Only Home Mortgage Rates

West Newfield, ME interest only mortgages are mortgages that the borrower pays only the interest on the principal balance or a set period of time. After the initial period the mortgagee pays both interest and principal. Interest only (IO) mortgages were popular during the housing boom.

West Newfield, ME FHA Mortgage Mortgage Rates

Borrowers in West Newfield, ME must meet certain requirements established by FHA to qualify for a mortgage insured by the FHA. FHA mortgage interest rates in West Newfield, ME are usually lower than conforming mortgage interest rates because mortgage lenders bear less risk because FHA will pay the lender if a homeowner defaults on his or her mortgage loan.


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