Best Mortgage Interest Rates – December 2024
Find the Best Mortgage Rates
We will help you to find the best mortgage interest rates available.
Visit us often and we will help you with the best mortgage rates, best savings account interest rates, best CD rates, and the best money market interest rates.
Best Mortgage Interest Rates – December 2024
Finding the best mortgage interest rates is important, especially these days. With the high cost of houses, and high interest rates, it is critical to shop around and find the best mortgage interest rates.
We have already done the necessary work to help you to find the lowest and best mortgage rates.
We do not recommend getting a reverse mortgage, or an adjustable rate mortgage.
Best Mortgage Interest Rates
It is important to note that the key number you need to look at it is the APR. Annual Percentage Rate. This is more important than the mortgage interest rate.
The APR gives you a better picture of what the mortgage will actually cost you in terms of interest and total costs each year.
Estimated Total Costs – 30 Year Mortgage
If you borrow $300,000 in a 30 year fixed mortgage at 6.25%, the monthly payment is $1847 . You will eventually pay $664,974 over 30 years. Plus whatever points and closing costs you have to pay.
If you borrow $300,000 in a 30 year fixed mortgage at 6.50%, the monthly payment is $1896. You will eventually pay $682,632 over 30 years. Plus whatever points and closing costs you have to pay.
Estimated Total Costs – 15 Year Mortgage
If you borrow $300,000 in a 15 year fixed mortgage at 5.50%, the monthly payment is $2451. You will eventually pay $441,225 over 15 years. Plus whatever points and closing costs you have to pay.
Although it seems better to take a longer mortgage to reduce your monthly payment, in the long run you will pay much much more for your house.
Pay Down Your Mortgage As Soon As Possible
Plus, it is far better to pay as much extra as you can. This will greatly reduce your interest costs.
And greatly reduce the final total cost of your house. By tens and even hundreds of thousands of dollars.
Best Mortgage Interest Rates – December 2024
Here are some of the lowest and best mortgage interest rates available today
You will find links to the banks or financial institutions that offer them. Because interest rates have risen so much, it is critical to find the absolute lowest and best mortgage rate.
This will help you to keep your living costs as low as possible.
Best Mortgage Interest Rates – December 2024
30 Year Fixed Mortgages
First Rate Mortgage
5.99% Fixed Rate
6.196% APR
$5214 Fees
Alliant Credit Union
6.00% Fixed Rate
6.203% APR
$5128 Fees
Old National Bank
6.125% Fixed Rate
6.32% APR
$4891 Fees
Best Mortgage Interest Rates – December 2024
Best Mortgage Interest Rates – 15 Year Fixed Mortgage
AimLoan.com
5.125% Fixed Rate
5.493% APR
$5704 Fees
Old National Bank
5.25% Fixed Rate
5.538% APR
$4466 Fees
Alliant Credit Union
5.25% Fixed Rate
5.59% APR
$5251 Fees
Best Mortgage Interest Rates
Check back with us often. We will continually monitor the market to find the best mortgage rates for you. And the best savings account interest rates.
We also closely monitor the best money market interest rates. And the best CD interest rates. And other opportunities to help you to manage your finances.
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