Wells Fargo mortgage rates January 2012
Mortgage rates come with differing terms and rates and it is one of the most important forms of lending for banks as well as for customers. This is why all the banks offer god mortgage rates and Wells Fargo Bank is no exception. There are FHA loans, large loans and jumbo loans. The FHA loans are the ones that are backed by the guarantee of the Federal Housing Administration and these are deemed safe ones. Moreover, the terms vary between a fixed rate loan and an adjustable rate mortgage. Another aspect that can vary is the duration of the loan and typically, users can choose from a 15 or 30 year mortgage.
The current Wells Fargo Bank mortgage rates are 4.180% APR for a 30-year fixed loan and 4.705% APR for a 30-year fixed FHA loan. The Wells Fargo interest rates are lower for FHA loans because they are safer when compared to other kinds of loans. The Wells Fargo mortgage rates are 3.565% APR for a 15 year loan. For adjustable rate mortgages (ARM), the mortgage rates at Wells Fargo bank are 3.156% APR for a 5 year ARM and 2.999% APR for a 5 year ARM FHA loan.
As for the Jumbo Wells Fargo home loans, the rates are 4.382% APR for a 30 year fixed loan and 3.195% APR for a 5 year ARM loan respectively. For larger loans in eligible areas, the rates are 4.130% APR for a 30 year fixed loan, 4.784% APR for a 30 year fixed FHA loan and 3.195% APR for a 5 year ARM loan respectively. These loan terms and rates are competitive in the given market conditions and this makes it a good choice for anyone looking to buy their first home or their subsequent ones for investment purposes.
