Astoria bank was established in 1888; therefore, the company possesses a rich history. The corporation offers mortgages in New York, Washington D.C, and numerous other states throughout the country. There are a variety of loan options available to you, and you can choose between a fixed mortgage and an adjustable rate mortgage. This article will give you information about Astoria Bank mortgage rates.

Astoria Current Mortgage Rates

You want to get the lowest possible rate when purchasing a new home. You can find the current mortgage rates at on the official Astoria bank website.

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate) Estimated Monthly Payment
30-year fixed rate 4.00% 4.12% $1210.90
20-year fixed rate 3.37% 3.48% $1447.33
15-year fixed rate 3.25% 3.46% $1782.30
10/1 ARM 4.37% 4.14% $1210.90
7/1 ARM  3.62% 3.69% $1149.29
5/1 ARM  3.25%  3.58% $1133.81

***Mortgage rates can change frequently, so you need to check the website for the most up-to-date information.

Bonus read: Astoria Bank Mortgage Account Login

Astoria Bank Mortgage Rates Additional Information

The most common type of mortgage loan is a 30-year fixed mortgage. With this option, the life of the loan is 30 years, and your principal mortgage payment will not increase or decrease throughout the loan. If you wish to save money, you can choose a 20-year mortgage rate, 15-year mortgage rate or 10-year mortgage rate. With a shorter term, your payments will be higher, but you will save money in interest.

If you do not plan on residing in the home for a long period of time, you might wish to obtain an adjustable rate mortgage. You will start out with a lower rate; however, after a certain number of months, the rate could change depending on the mortgage rate trend.
With Astoria, you also have the option of refinancing your mortgage. A representative can help you decide if refinancing will save you money. If you wish to purchase a larger home, jumbo mortgage rates are available.

It is a good idea to find a mortgage rates calculator. A calculator will help you determine how much you can spend on the home. You can easily make an estimation by using an online calculator.

Extra Read –  First Internet Bank Mortgage Rates

Monthly Mortgage Payment Example

Type of Mortgage Rate 30-year fixed rate 20-year fixed rate 15-year fixed rate
Mortgage Amount $250,000 $250,000 $250,000
Interest Rate 4.00% 3.37% 3.25%
APR (Annual Percentage Rate) 4.12% 3.48% 3.46%
Number of Payments 360 240 180
Average Monthly Payment $1210.90 $1447.33  $1782.30
Total Amount of Interest $185,923.35 $97,359.52 $70,813.93
Total Amount Paid $435,923.35 $347,359 $320,813.93

***The values in this table are approximate results of our calculations and can vary based on the type of credit you opt for. Please note that these are our examples and they are not provided by the financial institution.

Purchasing a home is a huge decision, so it is important to choose a reputable lender to handle your loan. An Astoria home loan representative will walk you through each step of the way to help you make an informed decision. They will help you find great Astoria Bank mortgage rates, so you can save money.