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Purpose: State: Loan Amount: Loan Type: Points:
$ GO
Institution Payments Rates Apr Points Fees Last Update   Phone
Gateway Capital Mortgage $1175.59 3.875% 3.891% 0.000% $495.00 10/09/2011
Data provided by Informa Research Services click here for details

Current Mortgage Rates

If you need to take out a mortgage loan in Florida, your options are many. But so you can avail yourself of the best terms for Florida Mortgage Rates, you first need to clearly define your need considering your personal circumstances. What are you taking out the mortgage for? To buy you’re first and primary home? Or a second home or as an investment or you want to refinance your existing home? Monthly amortizations that you are comfortable with considering your present and projected income Projected payment period – 15, 20 or 30 years? Or do you want to refinance your loan? Or consolidate debts into one? If you have clear-cut answers to the questions, then you can see your broker and discuss your needs or you have the option to do it your way. Of course, goes without saying that you hire a broker you can trust and who you can depend on to get the best deal for you. He should negotiate at the best historical mortgage interest rates.

Once your goal is clear, it makes it a lot easier to get into the details like what kind of loan you want to take, what bank offers the best rate etc. You can narrow down your options and get the best deals that the market can offer.

Type of Mortgage Loans

Florida mortgage rates can be availed of for loans secured. Generally mortgage loans in Florida can be classified into three: 1) in fixed-rate mortgages (FRMs) wherein the interest rate and monthly amortizations remain the same throughout the life of the loan which normally mature in 30 years. 2) Adjustable rate mortgages (ARM) start with low interest rates and low monthly amortizations, but are subject change later 3) Mortgage refinancing for the purpose of lowering your monthly payments or raise cash or consolidate debts. The third option however, depends on how much equity you have saved in your home. Equity can be built either through appreciation of the home’s market/appraised values or through a decrease in the mortgage loan balance.

Criteria Used By Lenders

While lenders vary in their lending rates, the criteria they use in evaluating mortgage loan applications are generally the same. Best historical interest rates are usually available especially for borrowers with good credit history. What is the borrower’s credit history? Excellent? Average? Poor? Did they have any foreclosure or bankruptcy histories? So if you belong to those with favorable credit ratings, chances are you will get better deals, considering all other factors equal – like monthly amortizations, payment periods, etc.

Shop Online For Best Deals

Get at least three quotes from as many reliable, stable, reputable bank lenders or through mortgage brokers or through your own efforts. Make comparisons using tables available. Mortgage calculators are tools used for determining various borrowers’ credit rating criteria to be able to arrive at an objective assessment/evaluation of his creditworthiness and eligibility for the loan. Historical mortgage interest rates are good benchmarks to use. Factors that can be determined with the use of mortgage calculator are loan amount, payment period, interest rates, monthly payments, etc. Normally, the best historical mortgage interest rates are reserved for borrowers with excellent credit histories.

4.25% 30 Year Fixed Rate
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