In a recent Primerates.com survey of mortgage rates offered by the largest area banks & credit unions, Houston area lenders offered potential borrowers Houston mortgage rates as low as 3.125%. Three institutions offered rates under 4% on 30-year fixed -rate conforming loans in the Houston metro area for well-qualified borrowers. Compass Bank (www.bbvacompass.com) led the way with this rate, followed by Wells Fargo (www.wellsfargo.com) and Capital One both offering loans with rates as low as 3.875%. As of December 10th Sterling Bank (www.banksterling.com) and Comerica Bank (www.comerica.com) were both offering rates of 4.170%.
Even with less than perfect credit a person can still qualify for a home loan. Often they will have to pay a slightly higher interest rate, but the rules of bargaining still apply. After applying to those companies offering the best interest rates, a person with mediocre credit can find themselves still locked in at a rate that is lower than the bank offering the worst rates. If the interest is still more than they would want to pay, they can always talk to their mortgage professional about purchasing points and find out how they can lower the interest rate.
|
Top Houston Area Banks and Credit Unions |
As of |
30-year Fixed |
15-year Fixed |
5/1 ARM |
| Compass Bank |
12/09/11 |
3.125% |
3.875% |
NA |
| Wells Fargo |
12/10/11 |
3.875% |
3.250% |
2.250% |
| Capital One |
12/09/11 |
3.875% |
3.250% |
2.750% |
| Bank of America |
12/09/11 |
4.000% |
3.375% |
2.750% |
| JP Morgan Chase |
12/10/11 |
4.125% |
3.375% |
2.375% |
| Sterling Bank |
12/10/11 |
4.170% |
3.300% |
2.875% |
| Comerica Bank |
12/09/11 |
4.170% |
3.300% |
2.875% |
Listed rates from banks, thrifts and credit union were listed on their websites on the date indicated for conforming loans with 0 points. Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history. Contact a specific institution for current rates.
In a recent Primerates.com survey of mortgage rates offered by the largest area banks & credit unions, Houston area lenders offered potential borrowers Houston mortgage rates as low as 3.125%. Three institutions offered rates under 4% on 30-year fixed -rate conforming loans in the Houston metro area for well-qualified borrowers. Compass Bank (www.bbvacompass.com) led the way with this rate, followed by Wells Fargo (www.wellsfargo.com) and Capital One both offering loans with rates as low as 3.875%. As of December 10th Sterling Bank (www.banksterling.com) and Comerica Bank (www.comerica.com) were both offering rates of 4.170%.
Even with less than perfect credit a person can still qualify for a home loan. Often they will have to pay a slightly higher interest rate, but the rules of bargaining still apply. After applying to those companies offering the best interest rates, a person with mediocre credit can find themselves still locked in at a rate that is lower than the bank offering the worst rates. If the interest is still more than they would want to pay, they can always talk to their mortgage professional about purchasing points and find out how they can lower the interest rate.
|
Top Houston Area Banks and Credit Unions |
As of |
30-year Fixed |
15-year Fixed |
5/1 ARM |
| Compass Bank |
12/09/11 |
3.125% |
3.875% |
NA |
| Wells Fargo |
12/10/11 |
3.875% |
3.250% |
2.250% |
| Capital One |
12/09/11 |
3.875% |
3.250% |
2.750% |
| Bank of America |
12/09/11 |
4.000% |
3.375% |
2.750% |
| JP Morgan Chase |
12/10/11 |
4.125% |
3.375% |
2.375% |
| Sterling Bank |
12/10/11 |
4.170% |
3.300% |
2.875% |
| Comerica Bank |
12/09/11 |
4.170% |
3.300% |
2.875% |
Listed rates from banks, thrifts and credit union were listed on their websites on the date indicated for conforming loans with 0 points. Data is believed accurate at time of collection, can change without notice, and will vary based on an individual’s credit history. Contact a specific institution for current rates.
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