Mortgages
Absolute cuts 30-year mortgage rates to 3.75% in 24 states
Absolute Mortgage Co. has an even better deal on traditional mortgages than when we featured it last September.
It's charging just 3.75% with no points and $1,899 in lender fees for a 30-year, fixed-rate home loan.
That interest rate is almost a half-point less than the record-low national average of 4.18% for 30-year mortgages.
Last September, Absolute was offering similar home loans at 3.875%, and we thought they couldn't get any cheaper.
The principal and interest payment would be just $463 a month for every $100,000 borrowed.
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 off the loan.
Absolute Mortgage is based in West Chester, Pa., and licensed to make loans in 24 states: Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Massachusetts, Maine, Maryland, Michigan, Minnesota, New Hampshire, New Jersey, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia and Vermont.
To qualify for this rate, you'll need a credit score of 740 or higher and have enough cash to put 25% down on a new home or have at least 25% equity for a refinancing.
You also must be borrowing $417,000 or less and be willing to pay taxes and insurance into an escrow account.
Click here to compare this deal with the best mortgage rates from scores of other lenders in your area.
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