Wachovia FHA Mortgage Rates
Today at Online Banking 411, we’re looking at mortgages again. Specifically FHA loans. Of course, in the 2008 banking crisis, Wachovia was absorbed by Wells Fargo and while some operations continue to run separately, others such as mortgage loans were moved to the Wells Fargo family.
Right now, mortgage rates at Wachovia are staying relatively low and in line with national averages. A 30-year fixed loan is at 4.375% interest (4.559% APR) while a Wachovia FHA mortgage is 4.50% interest (5.223% APR).
Similarly, the FHA premium is relatively low for adjustable rate mortgages as well. A 5-year ARM at 3.00% interest (3.170% APR) is the same (3.00% interest or 2.959% APR) for its FHA brother.
For larger amount loans, or loans that are outside of the usual market rates in an area, the rates are a little higher. A 30-year fixed Wachovia mortgage rates offer is at 4.50% interest (4.634% APR) while the same in a Wachovia FHA mortgage is 4.75% interest (5.442% APR). There are no Jumbo offers for Wachovia mortgage rates with FHA.
Refinance rates are also relatively low, but few qualify for a Wachovia FHA mortgage in this case.
Of course, your decision to purchase or refinance a home through Wachovia mortgage rates is up to you and your financial adviser. Home purchasing is a big step for most people and mortgage rates at Wachovia may be able to help. Be sure to research thoroughly before choosing a loan program.