BB&T has been in business since 1872 when Alpheus Branch and Thomas Jefferson Hadley founded the institution. The bank survived both World Wars and the great depression, and it prospered in the 60s and 70s. Today, it has branches all over the country. The bank offers numerous financial options, including a home mortgage. BB&T mortgage rates are very competitive. This article will give you the latest and most current mortgage rates offered by BB&T.

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BB&T Current Mortgage Rates

It is important to get the latest rates if you are looking for a new home, so you will know if the rates are low. You can find the BB&T rates on their official website. The table below will give you information about the current rates.

Type of Mortgage Rate Interest Rate APR (Annual Percentage Rate) (Annual Percentage Rate) Estimated Monthly Payment
30-year fixed 3.25% 3.93% $1305.62
20-year fixed 3.50% 3.78% $1739.88
15-year fixed 2.87% 3.19% $1540
7/1 ARM 2.87% 3.89% $934
5/1 ARM 2.87% 3.50% $950
3/1 ARM 2.75% 3.91% $935

***Rates can change daily, so it is important to check the website for the latest information about mortgage rates.

BB&T Mortgage Rates Additional Information

The bank has numerous loan options for you. You can choose between a fixed-rate or an adjustable-rate loan. Fixed mortgage rates have the same interest rate for the entire term of the loan. Therefore, your loan will be predictable and easy to budget. You can lock in low-interest rates for your loan, and they will not change. You also have jumbo mortgage rate options if you need a larger loan amount.

If you plan to refinance or move within the next few years, an adjustable-rate mortgage might be right for you. You will be able to get a lower rate and lower payments during the first few years of your loan. It will then increase or decrease based on the market trends.

Determining the rates can be complicated. If the situation does not match the bank’s loan assumptions, a representative can speak to you about the options that are available. If interest rates drop, you can look at the refinance mortgage rates to see if it is beneficial to refinance your home.

With BB&T, you can get pre-qualified for the loan, so you will know how much you can afford. It is a good idea to use the mortgage loan calculator on their website. You do not want to get a loan that you cannot pay.

You can apply online, and a representative will be available to help you with any questions. Before you apply, you might have to gather proper documents, such as W2 forms, bank statements, and pay stubs. After you are pre-qualified, you can search for your home. The bank attempts to make the process as fast and easy as possible.

Monthly Mortgage Payment Example

Type of Mortgage Rate 30-year fixed rate 20-year fixed rate 15-year fixed rate
Mortgage Amount $300,000 $300,000 $300,000
Interest Rate 3.25% 3.93% 2.87%
APR (Annual Percentage Rate) 3.93% 3.78% 3.19%
Number of Payments 360 240 180
Average Monthly Payment $1305.62 $1739.88 $2053.04
Total Amount of Interest $170,022.82 $117,571.00 $69,547.13
Total Amount Paid $470,022.82 $417,571.00 $369,547.13

***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 not offered by the financial institution.

BB&T mortgage rates can offer you the opportunity to buy a new home. If you are interested, go to their website to look at how they can help you. You will then have the privilege of owning a new home.

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