Mortgage Rates

August 30, 2015 08:32 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.

30 Year Fixed

Interest Rate
3.500%
APR
3.717%
Monthly Payment
$898
Total Mortgage Services
30 Year Fixed
Interest Rate
3.500%
APR
3.717%
Monthly Payment
$898
(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 $898
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $898
Lender Fees $5,492
Lender Credit $102
Total Closing Fees* $5,390
*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
Email Lender Write a Review

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
Sebonic Financial
30 Year Fixed
Interest Rate
3.625%
APR
3.728%
Monthly Payment
$913
(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 $913
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $913
Lender Fees $2,522
Lender Credit $0
Total Closing Fees* $2,522
*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

Owner

Yes, I recommend this lender

Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

By: Haydee (Marietta, GA)

purchase of 1st home

Yes, I recommend this lender

Sebonic was clearly the cheapest rate I found after speaking with multiple banks. My loan representative was clear and didn't have any charges or fees which made it very clear.

By: Michael (Baltimore, MD)

Amazing company to work with, I will miss them.

Yes, I recommend this lender

Every time I had a question they were able to answer me. They were extremely helpful during the entire process of buying a home. My husband and I are first-time homebuyers and I was very reluctant and nervous about the whole process. They made it easy. I am so grateful that I chose them to help us with this beautiful opportunity. I would recommend them to everyone.

By: Ronda (Wooster, OH)
See All Reviews

15 Year Fixed

Interest Rate
2.750%
APR
2.908%
Monthly Payment
$1,358
Consumer Direct Mortgage, a division of FirstBank
15 Year Fixed
Interest Rate
2.750%
APR
2.908%
Monthly Payment
$1,358
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $2,201
Lender Credit $0
Total Closing Fees* $2,201
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention.You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender Write a Review

Lender Reviews

Highly recommend!

Yes, I recommend this lender

Incredibly attentive. An absolute joy to work with. Highly recommend!

By: hk4394 (Milton, FL)

Mikes Refinance

Yes, I recommend this lender

Had a great experience with Consumer Direct. It was a non painful refinance and a great rate. Pat and Jamie were a pleasure to work with and always responded to me in a timely manner, whether it be by email or phone. 2 thumbs up!!!!

By: Anonymous (Boynton Beach, FL)

Mikes Refinance

Yes, I recommend this lender

I had a great experience working with Consumer Direct. Very professional, caring and actually returned my calls right away when I had any questions or concerns about my loan. I would highly recommend this company. (and I got a great rate!!!!) Mike

By: Robinson (Boynton Beach, FL)
See All Reviews
Avex Funding Corporation
15 Year Fixed
Interest Rate
2.750%
APR
2.887%
Monthly Payment
$1,357
(844) 904-7375 Contact
Avex Funding Corporation
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 45 Days
Down Payment $50,000
Principal and Interest Payments $1,357
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,357
Lender Fees $1,910
Lender Credit $120
Total Closing Fees* $1,790
*Other 3rd party fees may apply
Avex Funding Corporation
Email Lender

About the Lender

AVEX Funding is a mortgage bank and direct lender with three generations of experience in the mortgage lending industry. We are simplifying the mortgage process for millions of Americans—your entire application will be handled under one roof. We offer loans with zero upfront points and low closing costs, as well as options to buy down your interest rate. So whether you’re looking to minimize your down payment or lower your monthly payments, we can work with you to achieve your dreams or help minimize the financial burden of your mortgage. At Avex, customer service is priority number one. We value your time and recognize that getting a mortgage or refinancing feels overwhelming. Avex aims to meet you at your most convenient point of communication- so start an application today! We need just a few minutes to understand your mortgage and refinancing needs and our home loan experts would be thrilled to assist you right away.
Avex Funding Corporation
Email Lender Write a Review

Lender Reviews

Very good experience

Yes, I recommend this lender

My end to end experience with AVEX Funding was very good. They provided timely response on all questions and very prompt on making sure all the documents are provided. Rate was very competitive compared to other banks. I appreciate the business with them and would be willing to refer them to friends.

By: NJSel (Edison, NJ)
See All Reviews
Total Mortgage Services
15 Year Fixed
Interest Rate
2.750%
APR
2.976%
Monthly Payment
$1,357
(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 $1,357
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,357
Lender Fees $3,134
Lender Credit $460
Total Closing Fees* $2,674
*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
Email Lender Write a Review

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

5/1 ARM

Interest Rate
2.500%
APR
2.969%
Monthly Payment
$790
Avex Funding Corporation
5/1 ARM
Interest Rate
2.500%
APR
2.969%
Monthly Payment
$790
(844) 904-7375 Contact
Avex Funding Corporation
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 $790
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $790
Lender Fees $1,908
Lender Credit $122
Total Closing Fees* $1,786
*Other 3rd party fees may apply
Avex Funding Corporation
Email Lender

About the Lender

AVEX Funding is a mortgage bank and direct lender with three generations of experience in the mortgage lending industry. We are simplifying the mortgage process for millions of Americans—your entire application will be handled under one roof. We offer loans with zero upfront points and low closing costs, as well as options to buy down your interest rate. So whether you’re looking to minimize your down payment or lower your monthly payments, we can work with you to achieve your dreams or help minimize the financial burden of your mortgage. At Avex, customer service is priority number one. We value your time and recognize that getting a mortgage or refinancing feels overwhelming. Avex aims to meet you at your most convenient point of communication- so start an application today! We need just a few minutes to understand your mortgage and refinancing needs and our home loan experts would be thrilled to assist you right away.
Avex Funding Corporation
Email Lender Write a Review

Lender Reviews

Very good experience

Yes, I recommend this lender

My end to end experience with AVEX Funding was very good. They provided timely response on all questions and very prompt on making sure all the documents are provided. Rate was very competitive compared to other banks. I appreciate the business with them and would be willing to refer them to friends.

By: NJSel (Edison, NJ)
See All Reviews
Total Mortgage Services
5/1 ARM
Interest Rate
2.500%
APR
3.051%
Monthly Payment
$790
(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 $790
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $790
Lender Fees $4,000
Lender Credit $1,684
Total Closing Fees* $2,316
*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
Email Lender Write a Review

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
Sebonic Financial
5/1 ARM
Interest Rate
2.625%
APR
3.049%
Monthly Payment
$804
(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 $804
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $804
Lender Fees $2,165
Lender Credit $0
Total Closing Fees* $2,165
*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

Owner

Yes, I recommend this lender

Overall experience was one of complete pleasure. Any delay in the process was caused by me and at that, it was only a month.

By: Haydee (Marietta, GA)

purchase of 1st home

Yes, I recommend this lender

Sebonic was clearly the cheapest rate I found after speaking with multiple banks. My loan representative was clear and didn't have any charges or fees which made it very clear.

By: Michael (Baltimore, MD)

Amazing company to work with, I will miss them.

Yes, I recommend this lender

Every time I had a question they were able to answer me. They were extremely helpful during the entire process of buying a home. My husband and I are first-time homebuyers and I was very reluctant and nervous about the whole process. They made it easy. I am so grateful that I chose them to help us with this beautiful opportunity. I would recommend them to everyone.

By: Ronda (Wooster, OH)
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

August 28 2015
  •   Lock if closing in 7 days:
    Rates may be heading Up
  •   Lock if closing in 15 days:
    Rates may be heading up
  •   Lock if closing in 30 days:
    Rates may be heading up

If you're considering financing or refinancing a home, you'll want to pay attention to current mortgage rates. The decision to lock in your rate at today's rates or float your loan can have financial implications that will last the life of your loan.

Stocks and Bonds

The bond market is up, the stock market is down, but all other economic conditions are favorable this Friday morning, meaning rates are expected to improve roughly .125 of a discount point. The bond market is up 13/32, or 2.14 percent, the Dow is down 57 points and the Nasdaq is down 9 points.

Factors Affecting Rates

The Personal Income and Outlays report was live this morning, and the results are favorable for mortgage rates. Income increased 0.4 percent (which matched the forecasted increase) and spending increased 0.3 percent. Spending was slightly less than what was forecasted, making the data in favor of mortgage rates.

Rate Lock Recommendation

If I were purchasing a home or refinancing, I would choose to lock my rate based on the data above. However, I tend to sway on the conservative side of things and would rather lock in a good rate than risk getting a worse one. What you choose to do, though, is of course up to you.

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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