Today’s Lowest Mortgage Interest Rates – Bank of America, Wells Fargo, Citi, and JP Morgan Chase Bank Rate Offers
Posted on | May 31, 2010 | Comments Off
Today’s lowest mortgage interest rates are still very low when looking at a historical chart. Most major banks, including the big four banks of Bank of America, Wells Fargo, Citi and JP Morgan Chase, are offering bank rates that are below 5% for the 30 year fixed mortgage.
It is very important to remember that the big four banks definitely have the broadest scope when it comes to mortgage rates but there are many local community banks and lenders that can offer many of the same services with some great customer service. It might be wise to contact some lenders in your area.
Even though mortgage interest rates are being advertised at 4.75% it does not mean that everyone will qualify for rates this low. You will need a credit score above 740 and a debt to income ratio that is well below 40% to have any opportunity to get rates this low.
If you do not meet these requirements you are going to find that it is nearly impossible to qualify for today’s lowest mortgage interest rates. This is why it is important to make sure you understand your credit score and credit history before going through the process.
Author: Alan Lake
Tags: bank of america rates > chase rates > citi rates > interest rates > lowest mortgage interest rates today > lowest mortgage rates > mortgage interest rates > today's lowest rates > todays lowest interest rates > wells fargo rates