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Purpose: State: Loan Amount: Loan Type: Points:
$ GO
Institution Payments Rates Apr Points Fees Last Update   Phone
TriState Lending, Inc. $1157.79 3.750% 3.817% 0.501% $799.00 10/07/2011
TriState Lending, Inc. $1193.54 4.000% 4.024% 0.000% $710.00 10/07/2011 – A Direct Lender $1157.79 3.750% 3.814% 0.000% $1950.00 10/07/2011 – A Direct Lender $1140.13 3.625% 3.754% 0.789% $1950.00 10/07/2011 – A Direct Lender $1122.61 3.500% 3.703% 1.697% $1950.00 10/07/2011
Data provided by Informa Research Services click here for details

Current Mortgage Rates

Nationwide, housing values are still slipping and Connecticut is no exception. Connecticut mortgage rates are also following the same pattern. They are the lowest in decades and most lenders are tightening their underwriting requirements. Buyers are not buying, but sellers still list homes for sale. The reality is control lies in the hands of the buyer – this is a buyer’s market.

Long Term, Fixed Rate Loans

Adjustable rate mortgages are true to their name. They are adjustable. Traditionally, these loans gave buyers the ability to purchase a pricier home with lower payments. They could remain low for one to seven years, which is great for someone who plans to relocate before the mortgage adjustment.

Mortgage rates 30 year fixed loan, especially, represent safety, consistency and dependability. Over the long term, you will pay more interest, but the only time your payment goes up or down is when the real estate tax changes or cost of homeowner insurance goes up. This is only true if the lender escrows taxes and/or insurance.

Down Payment Impact

Some buyers do not have a significant down payment. Lenders expect 20% of the purchase price from the buyer at closing. The loan must carry a guarantee or an insurance policy if the borrower has less than a 20% down payment. Mortgage rates 30 year fixed, particularly, are lower, borrowers pay more interest due to length of the loan.

Normally, the buyer would incur Private Mortgage Insurance (PMI) payments until they have accumulated 20% of equity (ownership) in their home. When the housing bubble burst and values took a ditch, lenders began looking for risk alternatives in the case of lack of 20% cash down payment.

Length of the Loan

When you make your payment on time every month for the length of 30 years, the house is yours when you make the 360th payment. Each payment has a portion that goes to the mortgage principal. However, it need not take 30 years to pay off a 30 year loan.

Lenders allow borrowers to reduce the time it takes to pay off a mortgage. Without refinancing, you can make an extra principal payment each month or an extra total payment each year and several years could disappear from the length of your loan. You will also pay less interest over the life of the loan, which is a side benefit.

Competition for Business

Lenders everywhere are competing for business, which has an impact on available interest rates. Connecticut mortgage rates for those with a decent credit score could be as low as 3%. The borrower with a fair credit score can take the opportunity to buy a lower rate if they pay a percent of the mortgage principal to the lender. Other closing costs apply. Do your homework to understand the mortgage agreement before you sign any papers.

4.25% 30 Year Fixed Rate
Loan Amount
Loan Type