Pay just 4.25% for a 30 year home loan, no points
Home Finance of America is offering one of July's best deals on a 30-year fixed-rate mortgage for customers purchasing or refinancing a home in 19 states.
It's charging 4.25% with no points and $1,500 in lender fees.
Interest rates have risen sharply in the last few weeks so yes, that's somewhat higher than our favorite deal in June — 3.874% with no points and no lender fees.
But Home Finance of America is still charging almost half a point less than the current national average of 4.66% for a 30 year home loan.
Click here to compare this deal with the best mortgage rates from scores of other lenders in your area.
The principal and interest payment would be $492 a month for every $100,000. You can use our mortgage calculator to determine the monthly payments for the amount you want to borrow with this or any home loan.
It will also provide a month-by-month amortization schedule that shows how much you've reduced your debt and how much you still owe if you want to pay the loan off.
Home Finance of America (http://www.hfamerica.com/) is a direct online national mortgage lender based in Plymouth Meeting, Pa.
It enjoys and A+ rating from the Better Business Bureau and is licensed to write mortgages in California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Texas, Virginia and Washington.
To qualify for this loan you must:
- Be applying for a loan of less than $417,000.
- Have a credit score of at least 740.
- Have a 20% down payment if you are buying a home.
- Have 20% equity in your home if you are refinancing.