Mortgage Calculator and WaMu Mortgage Rates

Rates are near or at historical lows, by running the mortgage rates through the mortgage calculator existing and potential homeowners can measure the impact these lower rates are having.  With today’s low mortgage rates buying or refinancing a home is now more affordable. With WaMu’s rates a customer can choose from a variety of fixed and adjustable rate loans and terms, including interest-only mortgages.

At the present time WaMu is offering the following mortgage rates:
30 year fixed rate mortgage – 5.00% interest rate and a 5.155% APY.
15 year fixed rate mortgage – 4.50% interest rate and a 4.783% APY.
5/1 adjustable rate mortgage – 5.217% interest rate and a 6.375% APY.

The 30 year fixed rate mortgage and 15 year fixed rate mortgage has an interest rate that is fixed for the full term of loan.  The 5/1 adjustable rate mortgage has an interest rates fixed for the first 60 months and then adjusts up to 2% every year thereafter.  The lifetime cap is 5% above start rate.   The margin for the mortgage loan is 2.25%.

Upon inputting the 30 year fixed mortgage rate in a mortgage calculator, the monthly mortgage payment will be $1,074.00.  Using the mortgage calculator for a 5/1 ARM the monthly mortgage payment will be $1,183.08.  The mortgage calculator results for the 15 year fixed rate monthly mortgage payment will be $1,183.08.

All rates are based on the purchase of a owner-occupied single family residence in the state of Illinois, conforming loan amount, $417,000 or less, with 20% down, a 30-day lock period and 0 discount points in most cases.  All rates shown include a one point, 1%, origination fee, which will be assessed at loan closing.

Mortgage rates effective 01/10/2009.  Only available in select areas.  Washington Mutual programs, rates, and terms subject to change.  Certain restrictions and conditions apply and may vary based on location of security property.  Mortgage rates can found on the WaMu web site at www.wamu.com or by calling a representative at 877-800-9268.

Tags: monthly mortgage payment, mortgage calculator, mortgage rates

This entry was posted on Saturday, January 10th, 2009 at 2:21 pm and is filed under Mortgage Ads and Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.