Mortgage Rates

April 1, 2015 08:07 PM Eastern

Refinance rates now in Woodbridge, NJ[Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30YearFixed Rates as low as

Interest Rate
3.250%
APR
3.464%
Monthly Payment
$870
Total Mortgage Services
Interest Rate
3.250%
APR
3.464%
Monthly Payment
$870
(844) 334-6186 Contact
Total Mortgage Services
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $870
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $870
Lender Fees $5,340
Lender Credit $254
Total Closing Fees* $5,086
*Other 3rd party fees may apply
Total Mortgage Services
Email Lender

About the Lender

Since 1997, Total Mortgage Services has been committed to making mortgages easier.  We combine the personal service and integrity of a local lender with the same low rates and wide variety of programs that you would expect from a big bank.  Total Mortgage is licensed in 32 states plus Washington, DC, and offers conventional, adjustable, jumbo, FHA, FHA 203K, USDA, condo, and co-op mortgages, among others.  We’re a Fannie Mae and Freddie Mac Seller/Servicer, as well as a Ginnie Mae Issuer, we have access to some of the best rates and programs in the country.  Because we are smaller and more nimble than the big banks, we’re able to close most of our loans in 30 days or less.  We’re experts in mortgages because mortgages are all we do.

 

Total Mortgage believes strongly in responsible lending.  We want to help you attain financing that you can afford – today, tomorrow, and over the life of the loan.  We understand that you’re not just looking for a home, but a trusted financial partner to help you realize your dream of homeownership.  Total Mortgage believes you deserve a loan that is as individual as you are.

 

With an A+ rating from the Better Business Bureau and a customer service satisfaction rate over 95%, we stand firmly behind our product and service and feel confident that if you use us for your home loan, you will recommend us to your friends and family.  This dedication allowed us to be named to the Inc 5000 list of America’s fastest growing companies for four consecutive years.  We want the opportunity to earn your business, we want to be your lender for life.

Total Mortgage Services
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Lender Reviews

Total Mortgage Services

Yes, I recommend this lender

I have done over 10 loans with Total Mortgage and have referred all my family and friends. They do everything under one roof, processing, Underwriting and their closing department is all in one building! This made all my transactions flawless. If I could give them a 1000 start rating I would. Tremendous tremendous company!

By: Jason (New Jersey)
See All Reviews
Capital One
Interest Rate
3.375%
APR
3.548%
Monthly Payment
$885
(844) 326-5399 Contact
Capital One
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 60 Days
Down Payment $50,000
Principal and Interest Payments $885
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $885
Lender Fees $4,262
Lender Credit $0
Total Closing Fees* $4,262
*Other 3rd party fees may apply
Capital One
Email Lender

About the Lender

You can expect better with Capital One. Whether you need help with refinancing, a new home purchase, debt consolidation, or financing home improvements, your idea of better likely starts with savings—we maximize your savings with competitive rates and lower than average closing costs. But savings is only the start. We also strive to provide a better loan process—one that’s totally clear right from the start, with no hidden fees or unexpected surprises along the way. You can expect better service too—you’ll have a responsive team of dedicated mortgage specialists assigned and available to you every day, each member trained to anticipate and able to take care of all your needs.
Sebonic Financial
Interest Rate
3.500%
APR
3.572%
Monthly Payment
$899
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $899
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $899
Lender Fees $1,784
Lender Credit $0
Total Closing Fees* $1,784
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Excellent loan service

Yes, I recommend this lender

Sebonic Financial has done a great job for my new home loan recently. From the loan application/origination, processing, and closing, the lender, especially loan officer, Amanda Bruce, and loan processor, Michelle Cooper, worked so hard on my loan. The rate was lower that other lenders, and the closing cost was very low. The Amanda worked in the evening and the night to have my loan application, my loan pre-approval, and get my loan rate locked with so communications with me over phone and email. Michelle worked so hard with getting required documents for my loan processing. She was so patient and waited for my documents, and she answered so many questions of mine over phone and email. Also, the customer service was great and they helped me about my questions and directed my calls to right persons. And their portal was a great tool for document reviews, uploading, faxing, and other communications.

By: Jinnnn (Maple Grove, MN)

Quick to pull

Yes, I recommend this lender

I was looking for a VA specific refinance. There is a stipulation with VA loans I was unaware of that disqualified me for the program I was looking for. I presented all of my information and Woody and he told me to fill out a loan application. They ran my credit before looking to see if I qualified for the program I was applying for and he waited two days to respond to me after I asked him directly if my credit was run. When he did respond to one of my emails he was unapologetic and rude. UPDATE: This issue was escalated to Sebonic's parent company and they were very accommodating in finding a work around the issue that had us hung up.

By: UpsetVet (Eugene, OR)

Low rates, low closing costs

Yes, I recommend this lender

I chose to do our refinance with Sebonic because of the positive reviews on lendingtree, low interest rates and a lender credit that would reduce our closing costs. We began the process in mid-January and everything went smoothly in the beginning. I completed their online application, submitted our financial documentation (pay stubs, bank statements...) and we paid for and completed our appraisal. After Sebonic received our documentation and the appraisal, the process bogged down. I was told the underwriters were behind schedule about 3 or 5 days. I had to follow up several times with various people in different departments to find out the status of our refinance. It was difficult to know who to talk to about our loan status. Everyone I spoke to was friendly and professional. Our 30 day rate lock expired and was extended by 7 days for free. I contacted Sebonic and found out that the underwriter had completed a conditional approval. I spoke to our final processor who said that she was just waiting for some IRS tax transcripts. A few days later our extended rate lock was about to expire and to extend it for 7 more days we would have to pay $466. I had to reach out to the mortgage broker to confirm that we didn't have to pay this fee. This fee should have been waived automatically. Then we got an updated good faith estimate but lender credit ($480) was less than what was initially promised ($950). I again had to contact the mortgage broker to make sure we were getting the promised lender credit. We were finally able to close and we signed the closing papers 39 days after we started this process. We are happy with the interest rate, closing costs and lender credit. When I spoke to Sebonic everyone was professional and polite. I just wish that someone at Sebonic was staying on top of things and coordinating our loan rather than me following up several times to find out what was going on. I also wish they were more upfront about the delays.

By: srs570788 (Southern California)
See All Reviews

15 Year Fixed Rates as low as

Interest Rate
2.625%
APR
2.820%
Monthly Payment
$1,346
eRates Mortgage
Interest Rate
2.625%
APR
2.820%
Monthly Payment
$1,346
(844) 334-6118 Contact
eRates Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,346
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,346
Lender Fees $2,720
Lender Credit $0
Total Closing Fees* $2,720
*Other 3rd party fees may apply
eRates Mortgage
Email Lender

About the Lender

eRates Mortgage is a Direct Lender that has been delivering superior rates and exceptional customer services for over twenty years.  We have simplified mortgage shopping to make the process easy, transparent and hassle free.  By operating completely online, we pass our cost savings on to you, the consumer.  Contact us today for your free, no obligation rate quote.
eRates Mortgage
Email Lender Write a Review

Lender Reviews

Awesome

Yes, I recommend this lender

I just closed on a refinance of my house. I found eRates online and they had great rates and reviews so I figured it couldn't hurt to get some info. I sumbmitted my info and got a call within two minutes on a Saturday afternoon! I saved $300 per month on my loan and literally closed at my kitchen table. Great job!

By: Fedsavings911bad (Huntington Beach, CA)

Great Experience

Yes, I recommend this lender

My loan officer, Abe Davis was the only person out of the three lenders i checked with that sent me something to actually review all my options prior to making any kind of decision. He and our Processor, Rene Gray, were professional and courteous and patient. I would definitely recommend them and would not hesitate to use them in the future if the need arises.

By: Patti (Texas)

Incredible!

Yes, I recommend this lender

I just finished refinancing my house through eRates Mortgage and I was extremely impressed with the company, especially since I found them online, which is usually a bit scary. First of all they had the best rate I could find. The agent I worked with was Chris Manzella. He was extremely helpful and very patient and explained everything in detail. I also contacted Chris several times with questions afterwards and he always got back to me and answered all my questions. Kari van den Berg was our processor and she was also very nice to work with. I would definitely recommend this company to anybody looking for a mortgage or to refinance. I had a great experience. I was actually already in escrow with another lender when I came across eRates Mortgage and I cancelled just a few days before we were scheduled to close, because the rate eRates Mortgage was offering was better. And on top the service was great!

By: ortab (Torrance, CA)
See All Reviews
Sebonic Financial
Interest Rate
2.750%
APR
2.929%
Monthly Payment
$1,358
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,358
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,358
Lender Fees $2,492
Lender Credit $0
Total Closing Fees* $2,492
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Excellent loan service

Yes, I recommend this lender

Sebonic Financial has done a great job for my new home loan recently. From the loan application/origination, processing, and closing, the lender, especially loan officer, Amanda Bruce, and loan processor, Michelle Cooper, worked so hard on my loan. The rate was lower that other lenders, and the closing cost was very low. The Amanda worked in the evening and the night to have my loan application, my loan pre-approval, and get my loan rate locked with so communications with me over phone and email. Michelle worked so hard with getting required documents for my loan processing. She was so patient and waited for my documents, and she answered so many questions of mine over phone and email. Also, the customer service was great and they helped me about my questions and directed my calls to right persons. And their portal was a great tool for document reviews, uploading, faxing, and other communications.

By: Jinnnn (Maple Grove, MN)

Quick to pull

Yes, I recommend this lender

I was looking for a VA specific refinance. There is a stipulation with VA loans I was unaware of that disqualified me for the program I was looking for. I presented all of my information and Woody and he told me to fill out a loan application. They ran my credit before looking to see if I qualified for the program I was applying for and he waited two days to respond to me after I asked him directly if my credit was run. When he did respond to one of my emails he was unapologetic and rude. UPDATE: This issue was escalated to Sebonic's parent company and they were very accommodating in finding a work around the issue that had us hung up.

By: UpsetVet (Eugene, OR)

Low rates, low closing costs

Yes, I recommend this lender

I chose to do our refinance with Sebonic because of the positive reviews on lendingtree, low interest rates and a lender credit that would reduce our closing costs. We began the process in mid-January and everything went smoothly in the beginning. I completed their online application, submitted our financial documentation (pay stubs, bank statements...) and we paid for and completed our appraisal. After Sebonic received our documentation and the appraisal, the process bogged down. I was told the underwriters were behind schedule about 3 or 5 days. I had to follow up several times with various people in different departments to find out the status of our refinance. It was difficult to know who to talk to about our loan status. Everyone I spoke to was friendly and professional. Our 30 day rate lock expired and was extended by 7 days for free. I contacted Sebonic and found out that the underwriter had completed a conditional approval. I spoke to our final processor who said that she was just waiting for some IRS tax transcripts. A few days later our extended rate lock was about to expire and to extend it for 7 more days we would have to pay $466. I had to reach out to the mortgage broker to confirm that we didn't have to pay this fee. This fee should have been waived automatically. Then we got an updated good faith estimate but lender credit ($480) was less than what was initially promised ($950). I again had to contact the mortgage broker to make sure we were getting the promised lender credit. We were finally able to close and we signed the closing papers 39 days after we started this process. We are happy with the interest rate, closing costs and lender credit. When I spoke to Sebonic everyone was professional and polite. I just wish that someone at Sebonic was staying on top of things and coordinating our loan rather than me following up several times to find out what was going on. I also wish they were more upfront about the delays.

By: srs570788 (Southern California)
See All Reviews

5 Year ARM Rates as low as

Interest Rate
2.375%
APR
2.883%
Monthly Payment
$778
Sebonic Financial
Interest Rate
2.375%
APR
2.883%
Monthly Payment
$778
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $778
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $778
Lender Fees $2,544
Lender Credit $0
Total Closing Fees* $2,544
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
Email Lender Write a Review

Lender Reviews

Excellent loan service

Yes, I recommend this lender

Sebonic Financial has done a great job for my new home loan recently. From the loan application/origination, processing, and closing, the lender, especially loan officer, Amanda Bruce, and loan processor, Michelle Cooper, worked so hard on my loan. The rate was lower that other lenders, and the closing cost was very low. The Amanda worked in the evening and the night to have my loan application, my loan pre-approval, and get my loan rate locked with so communications with me over phone and email. Michelle worked so hard with getting required documents for my loan processing. She was so patient and waited for my documents, and she answered so many questions of mine over phone and email. Also, the customer service was great and they helped me about my questions and directed my calls to right persons. And their portal was a great tool for document reviews, uploading, faxing, and other communications.

By: Jinnnn (Maple Grove, MN)

Quick to pull

Yes, I recommend this lender

I was looking for a VA specific refinance. There is a stipulation with VA loans I was unaware of that disqualified me for the program I was looking for. I presented all of my information and Woody and he told me to fill out a loan application. They ran my credit before looking to see if I qualified for the program I was applying for and he waited two days to respond to me after I asked him directly if my credit was run. When he did respond to one of my emails he was unapologetic and rude. UPDATE: This issue was escalated to Sebonic's parent company and they were very accommodating in finding a work around the issue that had us hung up.

By: UpsetVet (Eugene, OR)

Low rates, low closing costs

Yes, I recommend this lender

I chose to do our refinance with Sebonic because of the positive reviews on lendingtree, low interest rates and a lender credit that would reduce our closing costs. We began the process in mid-January and everything went smoothly in the beginning. I completed their online application, submitted our financial documentation (pay stubs, bank statements...) and we paid for and completed our appraisal. After Sebonic received our documentation and the appraisal, the process bogged down. I was told the underwriters were behind schedule about 3 or 5 days. I had to follow up several times with various people in different departments to find out the status of our refinance. It was difficult to know who to talk to about our loan status. Everyone I spoke to was friendly and professional. Our 30 day rate lock expired and was extended by 7 days for free. I contacted Sebonic and found out that the underwriter had completed a conditional approval. I spoke to our final processor who said that she was just waiting for some IRS tax transcripts. A few days later our extended rate lock was about to expire and to extend it for 7 more days we would have to pay $466. I had to reach out to the mortgage broker to confirm that we didn't have to pay this fee. This fee should have been waived automatically. Then we got an updated good faith estimate but lender credit ($480) was less than what was initially promised ($950). I again had to contact the mortgage broker to make sure we were getting the promised lender credit. We were finally able to close and we signed the closing papers 39 days after we started this process. We are happy with the interest rate, closing costs and lender credit. When I spoke to Sebonic everyone was professional and polite. I just wish that someone at Sebonic was staying on top of things and coordinating our loan rather than me following up several times to find out what was going on. I also wish they were more upfront about the delays.

By: srs570788 (Southern California)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

Mortgage Rate Trends

Monthly | Daily

Mortgage Rate Lock Recommendation

March 25, 2015
  •   Lock if closing in 7 days:
    Rates are down
  •   Lock if closing in 15 days:
    Rates are down
  •   Lock if closing in 30 days:
    Rates are down
  •   Float if closing in 45 days:
    Rates are up
  •   Float if closing in 60 days:
    Rates are up

Interest rates this morning have already improved, gotten worse, and improved again. Yields on ten-year Treasury Notes have settled in at 1.88 percent, well below the benchmark 2.0 percent mark, and the Dow is down over 200 points. There should be a small improvement in this morning's mortgage rates; closing costs should be about .125 percent lower, saving $125 for every $100,000 financed. It would also not be surprising to see mortgage improve a bit more if this morning's trend continues.

The Economy

February's Durable Goods Orders report from the Commerce Department revealed a 1.4 percent drop in new orders for big-ticket products. Because analysts had predicted a small increase, this report was favorable for bond rates and mortgage pricing. It's not one of the more heavily-weighted reports, however, and it's known to be fairly volatile, so its impact was not overwhelming.

The first of two Treasury auctions takes place today, and its results will be posted early this afternoon EDT. The results could change the direction in which mortgage rates are trending; if demand is strong, it could push rates solidly lower, while a lackluster performance might push rates up this afternoon.

Today's auction consists of five-year Notes and tomorrow's will feature seven-year Notes. If demand is weak, there is likely to be broader selling in the bond and mortgage-backed securities (MBS) markets and repricing for worse by mortgage lenders. However, robust demand for bonds usually makes MBS more attractive to investors and pulls mortgage rates lower.

Tomorrow

In addition to a Treasury auction, tomorrow brings the usual weekly unemployment figures. Being weekly numbers, their influence is limited. Analysts expect that 290,000 new claims for unemployment benefits were filed last week. More than that would be good for rates, and smaller numbers can push rates up.

What Does it Mean to "Lock" Your Mortgage?

"Locking" your mortgage means that you and your lender have agreed on an interest rate and price for your home loan. Once your loan is locked, that's the rate and price you get, regardless of what happens in the financial markets. If rates go up, you're protected but if rates go down, you won't benefit either -- you close your loan at the rate you've locked and you can’t change it. Locks have expiration dates ranging from 30 to 60 days or more, and the longer your lock period, the more it costs. If you don't close your loan on time, you could end up paying a higher interest rate.

When Should You Lock?

You can lock in your loan at any time during the process. Until you lock your interest rate, you are said to be "floating" your mortgage. The only rule is that you have to lock in before you can close on your purchase or refinance.

The decision to lock or float your loan can have a long term impact so it’s important you make the right choice. That’s why we offer a quick rundown of the key factors that drive mortgage rates today and everything you need to know.

Mortgage Rates by State

Mortgage rates can vary a lot between lenders on any given day. So, if you only get one mortgage quote, you won't have any idea if there's a better deal out there. That's why the best way to get a mortgage rate it to request quotes from multiple lenders and compare interest rates, loan terms and closing costs. It puts you on in charge and keeps the banks competing to get you the best rate possible. Remember, even .1 percent can amount to thousands of dollars over the course of a loan. Make sure you shop around!

Find Rates In Your State >
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